My Business Credit Journey to 1,000,000 » My Road to Business Credit

Come on! Stop using your personal credit! It’s Business Credit Time!

mike — Fri, 21 Aug 2009 00:25:38 +0000

I bet you are here because you already have or want to at least have a good well-established business/company with a good background record and are need of “big” start up loan for whatever other reasons, then you should (this is a must if you want to be successful in business credit) start avoiding and heading off your personal credit to get those loans and instead start using your business credit.

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!

Share and Enjoy:

Mrs. Dimples – My Business Credit and My Experience with B2B Credit

mike — Thu, 12 Feb 2009 07:37:43 +0000

Hello everyone, I am in the transportation business out of California and I have been establishing business credit for over a year now. I went through B2B’s Credit Builder program for a year. I paid about $500 to start up and that was including my Dunn’s #. I also paid $125 a month which was fine until recently they changed their rules. Now you pay them to send you accts/apps. by e-mail, but you apply for them yourself, they no longer fill out the applications for you. To me there is no need for me to pay if I am doing all the work. They do help you get your profile and business credit established with Net 30’s and revolving accounts, but just like Mike said they lie about how many creditors you can apply for to string you on. That’s what led me to searching for trade lines on my own. I just recently found My business Credit Journey to 1,000,000 site and was very informed on other Net 30 Accts. that I can apply for and continue to build my Corp. credit on my own. No NEED to pay for it anymore. Thanks for the site, it is very helpful. I also wanted to inform you of the credit accts. that I was approved for without a PG. My DNB Paydex is 80, I have 8 trade lines reporting as of now and 4 more that I am waiting to report soon. Here are my Net 30 Accounts with limits: Gemplers, Grainger- $1000, Quill, Reliable, Uline, Best buy, Arco fleet Card-$1000. Here are my Revolving Accounts with limits: Office Depot-$4000, Staples $4000, Office Max-$1500, Conoco-$1500, Exxon-$2500, Shell-$1500, and I just got Sears Commercial One Credit Card for $6,000. I am trying to get a business loan to buy trucks and reefers for my company. I hope all of this info was helpful to everyone. Keep the new trade accounts and approvals coming. Mike I have a question for you, Have you heard of anyone having problems with Business Experian reducing credit score due to the new implemented intelliscore rating? I recently have had problems with them with my scoring. I went from 91% on December 31st and then on January 5th to 84%. Now it’s February and my business scoring is 54%, with NO lates, No delinquencies, No Liens, Two inquiries, etc. Perfect record 100% on all creditors payments and the industry is at 77%. I have already disputed several times and they claim their scoring has changed and everyone has decreased, there is nothing I can do. I am curious if you or anyone else knows if this has happened to other companies. My concern was if this can hurt me in the future for applying for credit. Maybe and maybe not because I did still get approved for my Sears Commercial One Card with that 54% Experian report. Please let me know any information about this issue that can be helpful. Thanks, Mrs. Dimples

Share and Enjoy:

Some Small Activity

mike — Mon, 10 Mar 2008 05:39:45 +0000

Ok,

I inc’d another biz during the week and i got an email stating that I have to change the name. I am simply posting this to keep you guys updated on whats going on with my own journey. I also plan to pay the devil some time this week..lol..on one of my corps……..

- mike

Share and Enjoy:

A little more progress

mike — Fri, 15 Feb 2008 18:14:39 +0000

So i ordered some stuff for biz2 and biz3 and they started coming in. That’s great cuzz all I have to do now is pay them off. Remember, you do not have to order high value items in order to get an 80 paydex. My orders range from $8 to $18(only $18 cuzz shipping was high). No one has reported yet on Biz1 but I know that ATT reports monthly so I should see something there soon. I am yet another step closer to my $1,000,000 in business credit.

-money mike

Share and Enjoy:

A little more progress

mike — Tue, 12 Feb 2008 20:04:00 +0000

Today I went out and bought 2 more ATT go phones for Biz2 and Biz3 then I called ATT to get 2 RCF’s(remote call forwarding) numbers for both of them. They are $19 per month each so its not a bog deal…. Now that I have my phone numbers for these 2 businesses I can go get my DnB numbers. I plan to go get those today, I should have them by tomorrow.

Share and Enjoy:

The Lies of DnB aka Dun and Bradstreet

mike — Thu, 07 Feb 2008 02:37:23 +0000

ok..i know things are going slow but they will pick up…

Today I had 2 events that deal with business credit.

1. I finally paid off my invoices except for one, Riable. I got the merchandise but it seems that they did not send me an invoice. I called them, gave my name, business name and business telephone number and they still seem to not be able to find the invoice but I bet if the due date comes they will find it. Anyway, thats that. I paid the other five and I have to pay the ATT tomorrow.

2. This one has to do with the posts title. DnB (Dun and Bradstreet) called me today to tell me that my file is not complete and I have to pay them $549 to complete my file and activate my DnB number. That is simple untrue and crazy. The rep is just trying to make a buck. If his happens to you simple say no thank you and move on. You don’t wanna piss the guy off, they can be mean….they can mess with your file so simply say its ok…and move on….

thats it for activity..I still have Biz1, 2, 3 and 4. Biz1 has phone number, ein and dnb number. Will set up the others tomorrow. Biz 2, 3 and 4 only have Ein’s(TaxID’s)

Mike

Share and Enjoy:

Business Credit FAQ

mike — Sat, 02 Feb 2008 15:47:58 +0000

See The Page. The link is to your right.

Share and Enjoy:

Getting the Accounts

mike — Mon, 28 Jan 2008 01:50:25 +0000

Ok,

I got some requests for exactly where to get the net 30 accounts for some of these vendors so I will put together a small list. I will start tonight and complete it tomorrow.

Uline.com – In order to get a net 30 account from Uline.com, you will need to order, be billed, pay the bill within 30 days and then they will offer you a net 30 account. In order to open an account, order and be billed for it to show up on your business credit you will call 800-295-5510 and order over the phone. They will walk you through everything.

Viking.com – call 1-800-421-1222 to open an account.Viking is now owned by office depot and they offer net 30 accounts to new business customers.

Share and Enjoy: