Approved Amazon LOC NO PG

titancylinder · ‎11-23-2020

Hey Guys,

Just wanted to share, I have recently been approved for the Amazon Line of Credit for 4500 NO PG. Been in business under this name since 2017. I tried back in 2019 and was denied, their excuse was "High-Risk NAICS code." I recently discovered, my business CR's had me listed under the wrong NAICS code which I have since corrected.

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AllZero · ‎11-23-2020

Congratulations on your approval!

titancylinder · ‎11-23-2020

Thanks, AllZero.

Coming Soon

mikeef · ‎11-24-2020

@titancylinder wrote:
Hey Guys,

Just wanted to share, I have recently been approved for the Amazon Line of Credit for 4500 NO PG. Been in business under this name since 2017. I tried back in 2019 and was denied, their excuse was "High-Risk NAICS code." I recently discovered, my business CR's had me listed under the wrong NAICS code which I have since corrected.

If you don't mind sharing, could you answer a few more things....

1) What NAICS code was rejected by Sync and which one did you have when you got approved.

2) You said you were in business under your name since 2017 (I assume you mean by corporate/LLC filing date). Around what month/year did you establish your first Business credit bureau reporting account?

titancylinder · ‎11-24-2020

@mikeef wrote:
@titancylinder wrote:
Hey Guys,

Just wanted to share, I have recently been approved for the Amazon Line of Credit for 4500 NO PG. Been in business under this name since 2017. I tried back in 2019 and was denied, their excuse was "High-Risk NAICS code." I recently discovered, my business CR's had me listed under the wrong NAICS code which I have since corrected.

If you don't mind sharing, could you answer a few more things....
1) What NAICS code was rejected by Sync and which one did you have when you got approved.
2) You said you were in business under your name since 2017 (I assume you mean by corporate/LLC filing date). Around what month/year did you establish your first Business credit bureau reporting account?

I'll answer these questions when I get back behind my desk. Thanks.

Coming Soon

M_Smart007 · ‎11-26-2020

Congratulations!

titancylinder · ‎12-11-2020

@titancylinder wrote:
@mikeef wrote:
@titancylinder wrote:
Hey Guys,

Just wanted to share, I have recently been approved for the Amazon Line of Credit for 4500 NO PG. Been in business under this name since 2017. I tried back in 2019 and was denied, their excuse was "High-Risk NAICS code." I recently discovered, my business CR's had me listed under the wrong NAICS code which I have since corrected.

If you don't mind sharing, could you answer a few more things....
1) What NAICS code was rejected by Sync and which one did you have when you got approved.
2) You said you were in business under your name since 2017 (I assume you mean by corporate/LLC filing date). Around what month/year did you establish your first Business credit bureau reporting account?
I'll answer these questions when I get back behind my desk. Thanks.

So sorry for the delay, I had a business project come that required me to fly out of state.

1. I got approved using the NAICS code of 541512 (To be honest though, I think their previous excuse was simply to put something on the denial and had no real effect on the actual denial. I tried to find the denial letter but could not.

2. Because of being deathly sick and my bankruptcy in 16, my first business tradeline under the new LLC (I was forced to close my business by the courts due to the bankruptcy law) was my capital one spark card. Which was sometime around November of 2018. Up until then, I paid cash for everything for the business.

Still to this date, I have no Equifax Business Report. I have an Experian but no Equifax.

Regards.

Coming Soon

silver_idle · ‎12-11-2020

Congrats. Back in my old venture I was approved for for amazon loc without a PG but during that time I didnt even have anything on the business credit reports so I assume my business was approved based on the spending I was doing at amazon for supplies, equipment, etc. I dont believe it was issued by Sych but by Amazon themselves since it was net 30 and not the net 55 by Sych.

EDIT: Correction. It was "Pay by invoice" but I do remember there was a credit limit that was $5k so I dont know if you would consider that as a LOC.

GApeachy · ‎12-12-2020

@silver_idle wrote:
Congrats. Back in my old venture I was approved for for amazon loc without a PG but during that time I didnt even have anything on the business credit reports so I assume my business was approved based on the spending I was doing at amazon for supplies, equipment, etc. I dont believe it was issued by Sych but by Amazon themselves since it was net 30 and not the net 55 by Sych.

EDIT: Correction. It was "Pay by invoice" but I do remember there was a credit limit that was $5k so I dont know if you would consider that as a LOC.

A few months ago Synch changed the "Net 55" name to "Line of Credit". It's still the same thing though according to csr when I called to ask.

My Take Home Pay Don't Take Me Home

Anonymous · ‎12-12-2020

@GApeachy wrote:
A few months ago Synch changed the "Net 55" name to "Line of Credit". It's still the same thing though according to csr when I called to ask.

Its confusing now because Amazon calls their account a "Line of Credit" which is a Net 30 and a "Pay By Invoice". Sync's Net 55 is now "Line of Credit" and they are pushing a "Pay By Invoice" conversion pretty hard when you log in. Makes you wonder if there will be a change of Underwriter in the near future for one of the accounts.