DIVVY Credit builder

[Nelsoul]

Did some looking here, couldn't find anything on - Divvy Credit builder pre-paid business credit card.. Found this on a video today, sounds good to me.

https://getdivvy.com/lp/credit-builder-apply/

Reports to D&B , just load up and use in place of cash.

Any negatives this could have on my profile by using this card?

[4sallypat]

Yes, I have heard very recently, Divvy is trying to capture those customers who don't meet the unsecured Divvy business card requirements.

They are now offering a pre-paid secured offer as a way to build your business credit.

After a while, they will probably offer an unsecured version, although it's probably going to be a net 7 (weekly ACH).

They do report to D&B and SBFE.

[Nelsoul]

I would like to know if something like this could be a negative on my business profile. I pay cash for produce throughout the week I, so this is great to get some credit from these purchases.

I'm wondering this because I almost pulled the trigger in a PL from bestegg,  only to learn that such loans that dont come from banks or CU mess up our credit for up to 12 years- something like that.

My biz credit is coming along nice, I thinking another tradeline reporting isn't a bad thing. Just looking for some advice. 

Thanks

[4sallypat]

Divvy is a newer fintech way of improving your business profile and credit score.

No matter if you get the prepaid secured or unsecured line of credit, all transactions will report.

I like it because they only do a soft pull on your personal credit.

Since I am starting out in business credit, I applied for the Divvy and now waiting back to hear back if I get approved for either unsecured or secured.

Divvy has a much longer app process than other soft pull credit from Torpago, Citizens Biz or FuelMan which I have apped for.

So far only got Citizen's approved for $5K SL. 

[Red1Blue]

@4sallypatDid you hear from Divvy yet. I applied for the Credit Builder Card and approved for it. I received the card couple of days ago and I'll start using it soon. I am waiting for some baddies to drop off on EX Personal and EX Biz and hopefully after that as my scores increase I might be able to get Divvy Regular Credit Card from them. Their Credit Builder is definitely a good start in building my Business Credit.

[LP007]

I thought about DIVVY, but I liked https://www.capitalontap.com/us/ terms better as a credit builder card. Cheers.

[Red1Blue]

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@LP007 wrote:

I thought about DIVVY, but I liked https://www.capitalontap.com/us/ terms better as a credit builder card. Cheers.

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I applied for CapitalOnTop and it was declined by WebBank. I am not sure if they tried to pull my personal credit report. They said I can re-apply in 6 months. That is reason I applied and got Divvy Credit Builder. I am not really looking to add too many business credit cards or credit lines just enough to separate my Personal Credit and Business Credit. Once my Personal EX  and Biz EX files are cleaned up I am planning on applying for Amazon Amex, (FNBO Biz Visa or GS/GM Biz Card) and (Wells Fargo MasterCard or Divvy Regular MasterCard) That is it. I am no longer interested in obtaining any Personal or Business Credit lines. My business should be able to self capitalize it self from the Revenues.

[username7]

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@LP007 wrote:

I thought about DIVVY, but I liked https://www.capitalontap.com/us/ terms better as a credit builder card. Cheers.

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Just be cautious of that interest.

[LP007]

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@username7 wrote:

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@LP007 wrote:

I thought about DIVVY, but I liked https://www.capitalontap.com/us/ terms better as a credit builder card. Cheers.

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Just be cautious of that interest.

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True dat.