About a week ago an administrator at Inter-tech emailed me clearing things up on what they have to offer. This company offers IT services but they also offer Net 30 account from $5k -$30k and they report the size of the account to DNB. You do not need a paydex but you do need a DUNS number and you need to be registered with DnB. This is a really good occasion to get a fairly big tradeline which is certainly needed in the modern business credit climate.

I checked their website today and it is currently going through maintenance but the Operations Manager assured me that they are good to go. I have tried them out with one of my clients and it worked out pretty well. After you are approved you have to make an initial purchase and then they will report it to you business credit file.

There website is http://www.itc123.com/

This is a NECESSITY if you are in the process of building business credit.

I visited the website to see what this was all about. The guy who wrote it claims to be an ex-dnb employee and an MBA. I do not have anything to say about this being true or not, but I do question it’s truth. Anyway, when I first saw the book and website I was almost flattered that my work is that well known that it is being copied.LOL… The book sells for a mere $20 to a figured I will buy it. I got side tracked and forgot about buying it at the moment but another avid reader of my blog bought it and shared it with me.

This ebook is a 21 page joke to say the least. I merely touches the surface of what is needed to be done to build business credit as well as acquire shelf corporations at a discounted price. I read one or two things that I did not know before but the information was not that good. One thing that I did learn is how to commit fraud by filing fake tax returns and using that for funding, which is absurd to say the least. If the book was legitimate, all of you guys who know me knows that I would be straight forward and say so. But it isn’t. Feel free to purchase it as well and let me know what you think.

Marc

Have any of you readers used them recently? The fact that they seemed to have closed shop has me looking out for a new player. This is usually what happens. When one of these companies fold, a new one opens up(ie. the same corp under a different name).

Marc

In my many years into Business Credit ( and business credit coach ) this is a great idea for a number of reasons which i will explain.

If you made some bad mistakes with your so “handy” personal credit and isn’t as good as it could be, using your business credit as secondary can really give you a much better high chance of being approved for a loan, or even better, being approved for a loan for a much higher amount, also building and establishing a great corporate credit history in this manner will definitely help your business in the long-run. However, if you try to use your business credit to apply for a loan and cannot repay it, it will reflect upon your business credit, leaving your personal credit clean and unharmed. So with that said, it’s a good idea to use Business Credit, rather than Personal Credit weather your personal credit history report is good, neutral, or bad – either to protect your good -sensible- personal credit, or to actually improve your chances of being approved for a much higher loan even if your personal loan is bad.

Not only is it good to use your business for personal credit protection and to help build up your business credit history even more, it is also helpful in maximizing the amount you’ll be approved for in a business loan. With good personal credit, you may not be able to get as much out of a loan as you would with good business credit.
You can be a business credit Guru and start building business credit by taking a look at Business Credit Bible. Build Business Credit Fast.

Good Luck!

I know that many of you are concerned that i am MIA, lol…who would have thought that not posting for a week will constitute being MIA..lol… I am trying to get things restructured and organized. I have simply been a bit burnt out and I will be taking a couple days to regroup but business credit building never stops. I am here working but will take limited calls until monday.

Marc

They will start out offering $199 down and $299/month for six months, but will negotiate and drop the price to $199 down and $200/month for five months.

One downfall is that they pretty much end their program after getting you a Paydex score. They don’t address the other credit bureaus, get you into the ratings system, or do any advanced credit building. They don’t address or help getting cash credit.

Average Cost:

Average Cost: $1,199 – $1,694 Payment method: $199 up front and $200-299 per month They do NOT have “back end fees” As with most programs, the business owner still has to take the time to personally purchase items.

Has anyone of you guys that read this post worked with Initial Underwriting? I had an opportunity to talk to the dude over the phone to work together but I don’t know them so I will like to know what you guys know. I bought an electronic product from his site the other day and I will review that this week but I want someoen who worked with them directly.

- mike

Let me start by saying that this review is not a complete review but it is only not complete because of the initial experience that a friend of mine has with BCS.

They start by charging $3000 for their credit builder program. If you opt not to pay all upfront, they offer a payment plan of $299/$199 per month. They also give away a free ebook that does nothing but try to sell you on their business cerdit builder program. My friend(lets call him Jo as he chooses not to be named) signed up for their program and opt for the payment plan. He was then told that they had to make sure that his company was in complience and this process will take a month and a half. That is simply BS.

With all initial accounts, there is no issue with any sought of complience. Most consultants use this big word to mean a simple process of making sure that you are incorporated, paid all state fees and have the necessary business license. Don’t fall for the trick.

Another trick that I have heard about is limiting the number of accounts that you can apply for in a week or a month. This is also BS. You can apply for as many accounts as you like once you think that you qualify. You may also want to avoid applying to many accounts backed by the same bank in the same week. If applying for Citi accounts (Office Depot, Saples, Dell, Sears), you may want to apply for 2 per week, although I applied for more.

We need to find a completely honest business credit building program but its tough because it is not rocket science and everyone wants to to believe that it is.

- mike