Trying to build business credit

[Anonymous]

I have had a business for 8 years and never readily thought about business credit until recently as I fix my personal credit.

i just was approved “I think” for Quill and Uline net 30 accounts. I have a wedding photography business. Do you have any ideas? I did apply for amazon net 55, Office Depot net and staples not approved. I do have a duns with a $50 from 2017 no ideas how. 

I appled for shell fleet fleet but no reply yet. 

[FinStar]

Looking at your signature, have you considered any AmEx biz CCs? How about BoA? USB?

[Anonymous]

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@FinStar wrote:
Looking at your signature, have you considered any AmEx biz CCs? How about BoA? USB?

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Business credit cards use personal credit for credit decisions.  Business credit is used to obtain financing.  The way to increase your business credit is through business loans, business cc's I don't think impact business credit irrc.

[Rgudino1717]

 I was denied for no PG with shell, but they offered the secured card( I passed on it as I already had 3 other fuel cards). I'm pretty sure that it does report to some credit bureaus so if they deny, but offer the secured card it might be worth it if you can. I believe that supplyworks reports. Should be an easy credit line to get like quill and uline. Valero also reports for me and I was initially denied the no PG, but they either offered me to PG, or to provide statements that showed how much fuel I spend. I have a high fuel spend so they approved no PG for 5k, but if you spend less on fuel and are denied the no PG then they would probably offer the same option and maybe give you like a 500 limit or something if you show some fuel spend. 

[Anonymous]

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@Anonymous wrote:

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Business credit cards use personal credit for credit decisions, they do not impact your business credit which is something completely different.  Business credit is used to obtain financing.  The way to increase your business credit is through business loans.

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@Anonymous, Please elaborate on your bold statements.

[FinStar]

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@Anonymous wrote:

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@FinStar wrote:
Looking at your signature, have you considered any AmEx biz CCs? How about BoA? USB?

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Business credit cards use personal credit for credit decisions.  Business credit is used to obtain financing.  The way to increase your business credit is through business loans, business cc's I don't think impact business credit irrc.

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@Anonymous, I'm perfectly aware of the PG or no-PG avenues.  The OP didn't provide much details on whether there was any PG involved to establish additional business financing or have their business be the guarantor.  Also, a variety of business CCs do impact business credit reporting.  The options I provided above are for some lenders which have PG and no-PG options depending how the OP's business is structured.

[ToughFistFight]

My business ink card showed up on my Experian Business report.  That helped get financing when I needed to purchase a box truck.  The funding company specializes in equipment financing.  So, that card, did help my business credit.  However, I did pg that loan. The other 4 trucks that were purchased through Hitachi Capital, didnt show up on my EX business report and were a no pg.  Go figure. 

[SouthJamaica]

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@Anonymous wrote:

I have had a business for 8 years and never readily thought about business credit until recently as I fix my personal credit.

i just was approved “I think” for Quill and Uline net 30 accounts. I have a wedding photography business. Do you have any ideas? I did apply for amazon net 55, Office Depot net and staples not approved. I do have a duns with a $50 from 2017 no ideas how. 

I appled for shell fleet fleet but no reply yet. 

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Since you're in the photography business I would suggest B&H Photo

[redpat]

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@FinStar wrote:

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@Anonymous wrote:

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@FinStar wrote:
Looking at your signature, have you considered any AmEx biz CCs? How about BoA? USB?

---

Business credit cards use personal credit for credit decisions.  Business credit is used to obtain financing.  The way to increase your business credit is through business loans, business cc's I don't think impact business credit irrc.

---

@Anonymous, I'm perfectly aware of the PG or no-PG avenues.  The OP didn't provide much details on whether there was any PG involved to establish additional business financing or have their business be the guarantor.  Also, a variety of business CCs do impact business credit reporting.  The options I provided above are for some lenders which have PG and no-PG options depending how the OP's business is structured.

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+1, other than vendor terms most real credit such as CCs, vehicle loans, bank term loans and lines of credit will require personal credit pulls and PGs.  They all impact business credit.

[Anonymous]

As far as building it the old fashion way with vendors could just be a waste of money if you cant use the products. It always helps to have your last spend be high and pay fast as far as the paydex goes. My cap1 shows up on one of the reports but in the end you mostly PG alot of things. Be careful with cap1 , It will show on your personal as well but in my case I am into camera installation so I would buy something for the rewards and pay right back . Crappy limit but a start . Good Luck