topic Re: Not getting approved for Net30's in Business Credit

Not getting approved for Net30's

username7 — Thu, 13 Jan 2022 01:36:00 GMT

Meanwhile, I have my Amex Biz 2%, Amex Biz Bonvoy and 5% Amazon. Respectively around $85k available credit.

US Bank approved me for the Triple Cash Rewards for $3k

FNBO Evergreen Biz approved me for $7.5k

Shell Small Business Fuel $11k

BP Fleet Solutions $12k

Home Depot? Denied.

Office Depot? Denied.

Staples? Denied.

Lowes4Pros? Denied.

Sam's? Terrified to even try, with my personal exposure with them.

99% Wex backed cards? Denied.

D&B: 80

Experian: 85

Equifax: 346

FICO: 169

Business is about 3 years old.

Re: Not getting approved for Net30's

GApeachy — Thu, 13 Jan 2022 14:22:33 GMT

@username7 wrote:

FICO: 169

^^^ ??? do you mean SBFE?

Re: Not getting approved for Net30's

4sallypat — Thu, 13 Jan 2022 16:03:11 GMT

@username7 wrote:
Meanwhile, I have my Amex Biz 2%, Amex Biz Bonvoy and 5% Amazon. Respectively around $85k available credit.
US Bank approved me for the Triple Cash Rewards for $3k
FNBO Evergreen Biz approved me for $7.5k
Shell Small Business Fuel $11k
BP Fleet Solutions $12k

Home Depot? Denied.
Office Depot? Denied.
Staples? Denied.
Lowes4Pros? Denied.
Sam's? Terrified to even try, with my personal exposure with them.
99% Wex backed cards? Denied.

D&B: 80
Experian: 85
Equifax: 346
FICO: 169

Business is about 3 years old.

Have you tried the new fintech banks that will offer Net 30 terms for businesses like yours ?

These do not check personal credit - they go off your business stated income & links to your business bank accounts:

Divvy
Torpago
Brex
Kleer
Ramp
Corpay

Also if your business can use these Net 30 accounts I have apped for:

Walmart Capital One Community Card
Menards / Northern Tool (Blue Tarp / Capital One)
Amazon Net 30/55 LOC
Samsung business credit
Floor & Decor net 30 (Comenity)
Dell Commercial (Web Bank)
Best Buy Business net 30

Re: Not getting approved for Net30's

WayneSki — Thu, 13 Jan 2022 18:35:23 GMT

@username7 wrote:
Meanwhile, I have my Amex Biz 2%, Amex Biz Bonvoy and 5% Amazon. Respectively around $85k available credit.
US Bank approved me for the Triple Cash Rewards for $3k
FNBO Evergreen Biz approved me for $7.5k
Shell Small Business Fuel $11k
BP Fleet Solutions $12k

Home Depot? Denied.
Office Depot? Denied.
Staples? Denied.
Lowes4Pros? Denied.
Sam's? Terrified to even try, with my personal exposure with them.
99% Wex backed cards? Denied.

D&B: 80
Experian: 85
Equifax: 346
FICO: 169

Business is about 3 years old.

Why would you need Net 30 accounts, when you have multiple credit cards that you can get cash back and build real business credit with?

Asking for a friend.....

Re: Not getting approved for Net30's

4sallypat — Thu, 13 Jan 2022 18:47:09 GMT

@WayneSki wrote:
@username7 wrote:
Meanwhile, I have my Amex Biz 2%, Amex Biz Bonvoy and 5% Amazon. Respectively around $85k available credit.
US Bank approved me for the Triple Cash Rewards for $3k
FNBO Evergreen Biz approved me for $7.5k
Shell Small Business Fuel $11k
BP Fleet Solutions $12k

Home Depot? Denied.
Office Depot? Denied.
Staples? Denied.
Lowes4Pros? Denied.
Sam's? Terrified to even try, with my personal exposure with them.
99% Wex backed cards? Denied.

D&B: 80
Experian: 85
Equifax: 346
FICO: 169

Business is about 3 years old.

Why would you need Net 30 accounts, when you have multiple credit cards that you can get cash back and build real business credit with?
Asking for a friend.....

Net 30 accounts builds tradelines that help with your business scores.

Business credit cards are one type of revolving credit, but other types help the credit mix and scores (BLOC, Business loan, Net terms)

Re: Not getting approved for Net30's

WayneSki — Thu, 13 Jan 2022 20:32:26 GMT

@4sallypat wrote:
@WayneSki wrote:
@username7 wrote:
Meanwhile, I have my Amex Biz 2%, Amex Biz Bonvoy and 5% Amazon. Respectively around $85k available credit.
US Bank approved me for the Triple Cash Rewards for $3k
FNBO Evergreen Biz approved me for $7.5k
Shell Small Business Fuel $11k
BP Fleet Solutions $12k

Home Depot? Denied.
Office Depot? Denied.
Staples? Denied.
Lowes4Pros? Denied.
Sam's? Terrified to even try, with my personal exposure with them.
99% Wex backed cards? Denied.

D&B: 80
Experian: 85
Equifax: 346
FICO: 169

Business is about 3 years old.

Why would you need Net 30 accounts, when you have multiple credit cards that you can get cash back and build real business credit with?
Asking for a friend.....
Net 30 accounts builds tradelines that help with your business scores.
Business credit cards are one type of revolving credit, but other types help the credit mix and scores (BLOC, Business loan, Net terms)

O Okay.... I have business credit cards approved for an entity thats a couple months old with ZERO business credit established. I don't have a Dunns number either.

Re: Not getting approved for Net30's

4sallypat — Thu, 13 Jan 2022 21:34:52 GMT

@WayneSki wrote:
@4sallypat wrote:
@WayneSki wrote:
@username7 wrote:
Meanwhile, I have my Amex Biz 2%, Amex Biz Bonvoy and 5% Amazon. Respectively around $85k available credit.
US Bank approved me for the Triple Cash Rewards for $3k
FNBO Evergreen Biz approved me for $7.5k
Shell Small Business Fuel $11k
BP Fleet Solutions $12k

Home Depot? Denied.
Office Depot? Denied.
Staples? Denied.
Lowes4Pros? Denied.
Sam's? Terrified to even try, with my personal exposure with them.
99% Wex backed cards? Denied.

D&B: 80
Experian: 85
Equifax: 346
FICO: 169

Business is about 3 years old.

Why would you need Net 30 accounts, when you have multiple credit cards that you can get cash back and build real business credit with?
Asking for a friend.....
Net 30 accounts builds tradelines that help with your business scores.
Business credit cards are one type of revolving credit, but other types help the credit mix and scores (BLOC, Business loan, Net terms)
O Okay.... I have business credit cards approved for an entity thats a couple months old with ZERO business credit established. I don't have a Dunns number either.

@WayneSki

If you want to improve your business credit scores, try NAV business boost - their monthly subscription keeps track of all your business scores.

Then apply for a DUNS #from D&B.

Re: Not getting approved for Net30's

Anonymous — Thu, 13 Jan 2022 21:40:42 GMT

@username7 wrote:
Meanwhile, I have my Amex Biz 2%, Amex Biz Bonvoy and 5% Amazon. Respectively around $85k available credit.
US Bank approved me for the Triple Cash Rewards for $3k
FNBO Evergreen Biz approved me for $7.5k
Shell Small Business Fuel $11k
BP Fleet Solutions $12k

Home Depot? Denied.
Office Depot? Denied.
Staples? Denied.
Lowes4Pros? Denied.
Sam's? Terrified to even try, with my personal exposure with them.
99% Wex backed cards? Denied.

D&B: 80
Experian: 85
Equifax: 346
FICO: 169

Business is about 3 years old.

WEX is a horrible bank so be glad they're doing you a huge favor...

Re: Not getting approved for Net30's

Red1Blue — Thu, 13 Jan 2022 21:43:14 GMT

Have you tried ATOB Business Gas card. You can get approved very easily and they report to D&B if you request them. NAV is another company that reports.

Re: Not getting approved for Net30's

dragontears — Thu, 13 Jan 2022 21:49:35 GMT

@WayneSki wrote:
@4sallypat wrote:
@WayneSki wrote:
@username7 wrote:
Meanwhile, I have my Amex Biz 2%, Amex Biz Bonvoy and 5% Amazon. Respectively around $85k available credit.
US Bank approved me for the Triple Cash Rewards for $3k
FNBO Evergreen Biz approved me for $7.5k
Shell Small Business Fuel $11k
BP Fleet Solutions $12k

Home Depot? Denied.
Office Depot? Denied.
Staples? Denied.
Lowes4Pros? Denied.
Sam's? Terrified to even try, with my personal exposure with them.
99% Wex backed cards? Denied.

D&B: 80
Experian: 85
Equifax: 346
FICO: 169

Business is about 3 years old.

Why would you need Net 30 accounts, when you have multiple credit cards that you can get cash back and build real business credit with?
Asking for a friend.....
Net 30 accounts builds tradelines that help with your business scores.
Business credit cards are one type of revolving credit, but other types help the credit mix and scores (BLOC, Business loan, Net terms)
O Okay.... I have business credit cards approved for an entity thats a couple months old with ZERO business credit established. I don't have a Dunns number either.

Not all businesses need Dunns or have to mess with D&B scores. If your industry doesn't use D&B why bother with it?

Re: Not getting approved for Net30's

Anonymous — Fri, 14 Jan 2022 02:46:07 GMT

@Red1Blue wrote:
Have you tried ATOB Business Gas card. You can get approved very easily and they report to D&B if you request them. NAV is another company that reports.

ATOB is suspect. They are not currently reporting for card holders.

Re: Not getting approved for Net30's

Anonymous — Fri, 14 Jan 2022 03:00:27 GMT

@dragontears wrote:
@WayneSki wrote:
O Okay.... I have business credit cards approved for an entity thats a couple months old with ZERO business credit established. I don't have a Dunns number either.
Not all businesses need Dunns or have to mess with D&B scores. If your industry doesn't use D&B why bother with it?

Easy enough to establish if not already currently set up. Many businesses have a DUNS # already and don't even know it. It's a CRA storing and providing information about your business to ANYONE that asks (no permissable purpose necessary). It's always best to make sure what is in your file is accurate as anything irregular could torpedo any decisioning process for banks, loans, credit cards, insurance, vendors or government contract work

Re: Not getting approved for Net30's

Anonymous — Sun, 30 Jan 2022 21:41:14 GMT

@4sallypat wrote:
@username7 wrote:
Meanwhile, I have my Amex Biz 2%, Amex Biz Bonvoy and 5% Amazon. Respectively around $85k available credit.
US Bank approved me for the Triple Cash Rewards for $3k
FNBO Evergreen Biz approved me for $7.5k
Shell Small Business Fuel $11k
BP Fleet Solutions $12k

Home Depot? Denied.
Office Depot? Denied.
Staples? Denied.
Lowes4Pros? Denied.
Sam's? Terrified to even try, with my personal exposure with them.
99% Wex backed cards? Denied.

D&B: 80
Experian: 85
Equifax: 346
FICO: 169

Business is about 3 years old.

Have you tried the new fintech banks that will offer Net 30 terms for businesses like yours ?
These do not check personal credit - they go off your business stated income & links to your business bank accounts:

Divvy
Torpago
Brex
Kleer
Ramp
Corpay

Also if your business can use these Net 30 accounts I have apped for:
Walmart Capital One Community Card
Menards / Northern Tool (Blue Tarp / Capital One)
Amazon Net 30/55 LOC
Samsung business credit
Floor & Decor net 30 (Comenity)
Dell Commercial (Web Bank)
Best Buy Business net 30

Have you checked what the creditors see on DnB? I found that I wasnt getting the approvals due to a mixup on suite numbers on my information. Once that was fixed and all my listings matched, there were no more problems, I have the CreditSignal sub on dnb.com to monitor the actions taken on my business credit profiles.

Re: Not getting approved for Net30's

Anonymous — Sun, 30 Jan 2022 21:42:02 GMT

@GApeachy wrote:
@username7 wrote:

FICO: 169

^^^ ??? do you mean SBFE?

Based off of what nav.com provides to you