My Business Credit Journey to 1,000,000

Hey Guys,

I am writing this because I am getting emails and calls about concerns that it seems that either no one can get the starter accounts to get the 80 paydex or after they get the accounts and buy and pay them off, it is taking long to report. Now that things have changed(and i think its at a point where it is getting better for borrowing) many of the starter accountssimply do not want to be used as starter accounts. We see this with office depot and staples changing their requirements. These two are no longer starter accounts and I hope that all those books and websites out there that are trying to teach people about business credit change this asap. The easiest way to get a business credit newbie discouraged is with an early denial. Anyway, back to this 80 paydex.

Now you want to get 4-5 companies that you plan to get to report they seem like they simply won’t give you an account. You must understand, if you are not willing to put out the extra few bucks to prepay any accounts just to get net 30 terms, you need to forget about business credit. This is not magic, you have to do what it takes, especially in these times. Also, many of these companies will report the prepay. I just want to say that you should do what it takes now. After you get the paydex, everything will go much more smoothly.

The problem that occurs before you get that paydex is that there is nothing on your business credit file so these starter companies are basically giving you credit on faith, assuming that everything on your application is true. They can do their small checks like 411 and so on but many of them don’t. And even if they do, we all know how easy it is to get in 411. I hope this helps all you guys who are complainging about the wait.

- mike

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