BUILDING BUSINESS CREDIT
**Keep In Mind**
You DO NOT have to build business credit unless you want No Doc Business Lines of Credit from the bank or Store cards, gas cards etc.. If you are just going for 0% business cards, you can proceed with just your PG.
Now that we have a DUNS Number we need to build business credit history by acquiring accounts and making payments.
POWERFUL LITTLE KNOWN BIZ CREDIT BUILDING TIP:
You can also report Business Phone and Utility payments using eCredable, you can link up to 8 eligible account types such as power, water, gas, mobile phone, cable TV, satellite TV, internet, and landline phone to your eCredable Credit Profile.
After you link your business utility and telecom accounts to your eCredable Small Business Credit Profile, they securely download up to 24 months of payment history directly from your provider’s website. Then on a monthly basis, they automatically report your payments to the business credit reporting agencies. This is an automatic way to build your business credit reports and scores.
Currently they report to Experian Commercial, Ansonia and CreditSafe. They are soon to announce that they will be reporting to D&B.
MY TOP RECOMMENDED
We’re here to build business credit, not to buy paper towels and cleaning supplies. THE BIGGEST FRUSTRATION most people have building business credit is WASTING HUNDREDS of Dollars if not THOUSANDS and wasting time with Crap Net 30 accounts.
I’ve PERSONALLY negotiated with DIVVY to get you an AMAZING deal. You can get a Corporate Charge card that reports to DNB Every month with a SOFT CREDIT PULL! This means you can buy things you actually need for your business, even send EFT and Checks with DIVVY. DIVVY is completely free and has a platform to track you and all your employees spending for FREE!
NAV Business Credit Boost
NAV is a Business Credit Monitoring website that is free and allows you to monitor your business credit. They have a Business Credit booster package for $39.99 which reports to all 3 business bureaus! Recommend to keep them just for the funding process.
Be sure to use the links above for personalized help from my partners at Divvy!
NET 30 ACCOUNTS
To make a NET30 Account report you must make a purchase of $50 minimum and pay off the invoice a few days after you receive it. DO NOT pay immediately. ALWAYS pay AT LEAST 10 days prior to the invoice being due.
If you can’t find any useful vendor accounts, I’ve listed (2) Corporate Credit Cards that are no PG, easy approval as well.
The idea here is to make an EARLY payment to report a good credit history.
Purchase $50 worth of goods from each, try purchasing something you actually need or can resell. If it’s not at least $50, it will not report to the bureaus in most cases.
We need at least 3 accounts reporting to DNB to get an 80 PAYDEX score.
Once you’ve created (3) accounts and made (3) Payments, ensure that they are reporting to Dun and Bradstreet by logging into your Dun and Bradstreet account and checking your Credit Signal or checking your NAV account!