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B of A business credit - I have some history, but now what?

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New Contributor

Re: B of A business credit - I have some history, but now what?

 

Yes OK then I think I am on the right path.

 

I do have an account over with OfficeMax and I use my business CC from B of A to order printing jobs, on a semi-consistent basis.  Maybe I can get that moved over to a business account.  Even with a PG I really don't care, as long as it is a TL that reports.

 

Another one might be the ATT internet and wireless - we pay for it personally, but why not see if we can move that over to a business account somehow?  Again, they will likely run our credit for that, PG and all that nonesense, but if it builds up the TL file... might be worth doing.  I mean, we are doing it in our own names already, so what are we really losing in this scenario?

 

A third one - I paid off a Lowes Card that I had for that flip project.  It was about $6K.  When my credit tanked they reduced my line and I think evetually shut it down but they were paid and paid on time.  I wonder if they would open one for the LLC?  This is one that I really will need to build up for renovation projects.

 

Message 11 of 42
Senior Contributor

Re: B of A business credit - I have some history, but now what?


@HoustonWestside77084 wrote:

 

Yes OK then I think I am on the right path.

 

I do have an account over with OfficeMax and I use my business CC from B of A to order printing jobs, on a semi-consistent basis.  Maybe I can get that moved over to a business account.  Even with a PG I really don't care, as long as it is a TL that reports.

 

Another one might be the ATT internet and wireless - we pay for it personally, but why not see if we can move that over to a business account somehow?  Again, they will likely run our credit for that, PG and all that nonesense, but if it builds up the TL file... might be worth doing.  I mean, we are doing it in our own names already, so what are we really losing in this scenario?

 

A third one - I paid off a Lowes Card that I had for that flip project.  It was about $6K.  When my credit tanked they reduced my line and I think evetually shut it down but they were paid and paid on time.  I wonder if they would open one for the LLC?  This is one that I really will need to build up for renovation projects.

 


Amex Lowe's Rewards too.  I did it the baby steps way.  Got the Lowe's Pros, and some other small limit tl's.  The a few weeks ago got the Amex Lowe's Rewards.  Amex has shot me down twice, I just kept on letting time pass and adding little tl's here and there and then finally Amex welcomed us in x's two.  Lowe's and Blue Business Cash.

AT&T business is was way more expensive.  We have had our numbers registered with the state (s-corp) forever so I wasn't about to pay a boatload of unnecessary $ for the exact same thing we already have.  When we were with Comcast it was Business and we pd. a lot and they still gave us crappy service, didn't show up within the two day time frame, it was sometimes over a week.  No way to run a business but we were able to tranfer our original number and forward our emails to At&t.  I then updated our business emails with everyone, state and biz cb's.

"MY TAKE HOME PAY DON'T TAKE ME HOME"
Personal Credit:
BB&T/ Capital One/ Citibank/ Comenity/ Discover/ Synchrony/ Synovus
Business Credit:
Amex/ Capital One/ CitiBank/ PayPal/ Synchrony
Message 12 of 42
New Contributor

Re: B of A business credit - I have some history, but now what?

Yeah I would join the taliban before I go back to comcast.  Not happening.  I didn't realize that AT&T business would be that much more money.  Maybe will skip that then.

 

So you did the Lowe's Pro thing first?  That seems to require SSN and so it will be PG, correct?  Or not the case?

 

What kind of business do you operate?

 

BTW I saw that my D&B updated today.  That didn't take long - still empty though

Message 13 of 42
Senior Contributor

Re: B of A business credit - I have some history, but now what?

S-Corp, required EIN, no pg. (I wanna say no pg, can't remember though) But, it does NOT report to personal...at all!   It's a good one.  Only thing I don't like is you won't get promotional purchases with Lowe's Pro or Amex Lowes. Lowe's Advantage, personal acct. is really the kicker.   So we have a 30k lowes advantage to put higher purchases on to float til the job is complete and we're paid.

"MY TAKE HOME PAY DON'T TAKE ME HOME"
Personal Credit:
BB&T/ Capital One/ Citibank/ Comenity/ Discover/ Synchrony/ Synovus
Business Credit:
Amex/ Capital One/ CitiBank/ PayPal/ Synchrony
Message 14 of 42
New Contributor

Re: B of A business credit - I have some history, but now what?

Lowes gives me 10% off as a veteran so I don't generally get a lot of promo's anyway.  Actually don't remember anymore how all that worked.

 

So you are using a Lowes personal (advantage) and also Lowe's business accounts?  That's pretty cool.

 

I think I looked online the other night and they wanted a SSN to apply for Lowes Pro.

Message 15 of 42
Senior Contributor

Re: B of A business credit - I have some history, but now what?


@HoustonWestside77084 

If you answer "corp" it then asks for EIN, iirc.  Using the Lowes Advantage, if you have a purchase over $199 or $299 idk, one of those...you can select promotional purchase instead of 5 or 10 percent off.  Very handy tool!  We always have purchases over $500 so it helps.  Home Depot too!

"MY TAKE HOME PAY DON'T TAKE ME HOME"
Personal Credit:
BB&T/ Capital One/ Citibank/ Comenity/ Discover/ Synchrony/ Synovus
Business Credit:
Amex/ Capital One/ CitiBank/ PayPal/ Synchrony
Message 16 of 42
New Contributor

Re: B of A business credit - I have some history, but now what?

 

Should I wait to get some gimme TL's to show up, like Quill/Uline/Graigner, before trying Lowe's?  Or maybe take a run at it, since I have some history with Synchrony Bank Lowes Adv already?

 

I wonder if maybe I should give the good people at Synchrony Bank Lowes Adv a call and ask if I can get a small 'guidance line' reopened just for small stuff - you know, home improvement, and so forth...  At least that way it isn't showing up as having a 'closed account'.... They closed it when they noticed by personal credit score taking a major nosedive.  This was about a year ago.  They are again 'directionally correct' meaning recovering, but still not wonderful.  Will that simply result in a HP that I don't really need?

Message 17 of 42
Valued Contributor

Re: B of A business credit - I have some history, but now what?


@HoustonWestside77084

Thank you for your service! Best of luck in your business endeavors!




"I thought credit was over in 2008. Never underestimate the ability of central bankers to blow a bubble." - Me
“If you don’t know, the thing to do is not to get scared, but to learn.” – Ayn Rand
Message 18 of 42
Senior Contributor

Re: B of A business credit - I have some history, but now what?

Given Idk your scores, derogs...profile in general I cannot tell x's 2. (personal & business)  What I can tell you is when dh app'd we had very little credit reporting to the biz bureaus BUT a long history doing business which is one reason for the acct. opening with low/no biz scores.  Dh personal scores were good, 720-730's at the time. 

Have you tried all the biz pre-approval links?  Even personal pre-approval links?   Amex has a good biz one.  I just cold app; I see a need and just do it.  Sometimes it works; sometimes not.

 

 

"MY TAKE HOME PAY DON'T TAKE ME HOME"
Personal Credit:
BB&T/ Capital One/ Citibank/ Comenity/ Discover/ Synchrony/ Synovus
Business Credit:
Amex/ Capital One/ CitiBank/ PayPal/ Synchrony
Message 19 of 42
New Contributor

Re: B of A business credit - I have some history, but now what?

 

Lowes Pro app does ask for a PG on page 2.  I think in this case maybe the LLC is treated differently than a corp, not sure.  It does ask for EIN and DUNS on the first page, but then it very openly asks for PG on the next page.  So I will skip it for now, I can always request it later.

 

I wanted to ask - do any of your Lowes Business Accounts report anywhere?  That would be a plus, obviously.

Message 20 of 42
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