1st Synchrony Approval for business No-PG

[Peach331]

Hello All!

I’ve learned so much from this forum so I just wanted to come share some good news for anyone else who might be searching. I started building credit for my business in July of 2020. I’ve had my business for 10 years but I was never consistent with building credit for it. I had a D&B number for about 5 years but never did much with it. As of July 2020 D&B showed a $100 trade line as the only thing ever reported but it didn’t tell me who it was with. It could’ve only been Quill because that was the only company I had used for credit in the past but it was used only maybe once or twice. Fast forward to July of 2020, this is when I started to be consistent with my credit building journey. I opened a $500 wells secured credit card (PG), started back up with Quill, opened a Uline account, and I opened a Supply Works account. I would spend around $100 with each company, pay them all off with the wells card, and then pay the wells card in full on the due date. I did this process consistently until the paydex score generated which happened at the end of October 2020. I was never able to see the exact Paydex score but Nav tells me I have an A for D&B, a B for Experian, and an F for Equifax. Not sure why I have an F but that’s what it says. Once I saw the score generate I started applying for Amazon cards (No-PG). I was denied. I waited until the end of November and tried again. Amazon gave me the 7-10 day message but when I called to check on it they couldn’t locate my application so I left it alone. I tried Dell and was instantly approved for $7500 (No-PG). I tried Conoco/Phillips and received the 7-10 day message so I assumed it was a denial and didn't bother calling. But I checked my mail weeks later and found a Conoco/Phillips card in there with a $1500 limit! This is my first Synchrony card and it’s also No-PG! I’m itching to try amazon 55 again since it’s synchrony but I’m going to allow the gas card to report a few times first. I’ll wait til about the third statement before I try. Just wanted to share! Thanks for all the pointers!

[blindambition]

Congrats on your approval!!! Continued success on building business credit!!

[AllZero]

Congratulations on your approval!

[GApeachy]

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@Peach331 wrote:

Nav tells me I have an A for D&B, a B for Experian, and an F for Equifax. Not sure why I have an F but that’s what it says.

If you ever had the chance to purchase an Equifax Biz report you could have compared the two. (no longer offered) I called Equifax and told them the id# Nav used on us for Equifax and Equifax said NEGATIVE.  I knew it was an inaccurate report because it did not come close to lining up with the real Equifax Business report. 

Also, Net 55 is now just called "Line of Credit" but it's still the same product. eta: 2 loc (small biz & corp)  Good Luck and happy for your progress.

[Peach331]

Wow thank you! I haven't purchased any of the business credit reporting products yet. I'm using all of their "basic" reports. But I will definitely keep this in mind. Thank you!

[GApeachy]

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@Peach331 wrote:

Wow thank you! I haven't purchased any of the business credit reporting products yet. I'm using all of their "basic" reports. But I will definitely keep this in mind. Thank you!

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Yeah, the freebies are good enough.  I do have the Experian Biz product (2 years now) ....out of all this is the most helpful for me.  So the $180/year is palatable.

Idk why EQ quit with their's, I haven't checked recently to see if they are offering a new biz credit product so if I ever see it again I will post in the forum.  Hope the same if someone else discovers they do later on.  

[M_Smart007]

Congratulations!

[Anonymous]

Congrats! That gives me hope. I'm in a similar spot. My business is 3 years old. My Duns is 3 years old but I have one experience reported on Duns. I just opened a  Nav (paid for reporting), Quill and Uline. That should help build me up to get the bigger and better cards. 

[Anonymous]

congrads! thanks for sharing

[Anonymous]

Congrats on your approval!  What a great feeling!