So, I was going to go on a business card spree for some bank cards with BT or Purchase offers, but to my surprise, after a 2 year wait to have history with the GM weMC by Marcus, it has not been reporting to Experian or D&B for me, even though I use it weekly and pif most times. Occasionally letting a balance carry over.
It seemed odd when the rejection reason for US Bank, BofA, and CapitalOnTap was for no established history, especially with a 2-year wait while using my GM card religiously, thinking it would report and help.
With my plan A crushed, I moved to plan B and grabbed the Citi OfficeMax/Depot and Wex ExxonMobil BusinessPro.
Both instant approvals:
Citi OfficeMax/Depot = $500 (no docs needed)
Wex ExxonMobil BusinessPro = $1200 (ID + Facial recognition required)
Not much for limits, but hopefully they will report for me unlike GM, so I can go for bank cards in 12 months with history showing next time.
That was sooooo disappointing to learn. I should have checked on that way sooner.
Nav, D&B and Experian Business confirmed no cards reporting. The plus side is Experian was an 85, which is on the decent side of the scale.
Back to the drawing board.
@JoeRockhead wrote:Bummer on the other cards not reporting, but congratulations on the new approvals. A score of 85 is in "excellent" territory.
Ya, happy about the ex 85 for now. I think I'll just skip everything else at 12 months (once I have the new cards reporting) since I'll be well below 5/24 by then and go straight for an INK to tap into the chase ecosystem.
@Dcowboy08 wrote:GM does report to D&B and SBFE. I would contact D&B. Only 1 of 10 accounts show up with them. They never want to fix anything, only up sell me their wares.
CapOnTap recently gave me a card and was pretty simple. My EX Bus was reporting 60, previously 80 the month before and now 35 with some accounts not reporting updated info.
7 yrs in business, 900k in sales. Just recently (last 6 months), started obtaining business credit. My business grew 800% last year and needed it. Very slow growing the business credit.
Thanks for the info. I think I've read other reviews about how D&B is quick to upsell and rarely does any updates/fixes when it comes to reports. That's unfortunate.
Congrats on your rapid growth.
I've operated under an assumed name for 19 years, then I scaled up on paper as a LLC for 2+ years so far, but most the lenders I talk to only care about the LLC paper time and don't consider the assumed name operating time. Go figure.
Baby steps. I'll get there 😀
@cashorcharge wrote:That’s Terrific!! Congratulations on both your Approvals!!👏🏼🍾🥂
I'm pretty certain WEX does report...so there's that
Excellent! Im hoping so. I just need 1 or 2 reporting a while, for when I drop under 5/24 to make a move towards INK next run.
@Drifter73 wrote:
@cashorcharge wrote:That’s Terrific!! Congratulations on both your Approvals!!👏🏼🍾🥂
I'm pretty certain WEX does report...so there's that
Excellent! Im hoping so. I just need 1 or 2 reporting a while, for when I drop under 5/24 to make a move towards INK next run.
Ink is based off personal, won't matter about the business lines
just apply when below 5/24
@ShreksBFF wrote:
@Drifter73 wrote:
@cashorcharge wrote:That’s Terrific!! Congratulations on both your Approvals!!👏🏼🍾🥂
I'm pretty certain WEX does report...so there's that
Excellent! Im hoping so. I just need 1 or 2 reporting a while, for when I drop under 5/24 to make a move towards INK next run.
Ink is based off personal, won't matter about the business lines
just apply when below 5/24
Good to hear 😀 I was thinking they may look at both. I'll dig around a bit more for ink data points. If Biz file doesn't matter, then I may be able to make the move Jan/Feb 2025 (in 7 months, instead of waiting 12).
Whenever I've seen one of my business credit reports, the report was basically empty, despite the fact that I'd had lots of business credit. So I've stopped bothering to think about my business credit reports.
