Step 1.

Incorporate your business. This will allow you to separate your personal credit from your business credit. Get your Tax ID and DnB number. I explain how to get both of these previously.

Step 2.

Obtain some starter lines of credit from companies who DO REPORT TO THE CREDIT BUREAUS. Obtaining lines of credit from companies who do not report will do nothing for your business credit. These lines will range from small revolving lines of credit to net 30 accounts. If you do not understand any part of this, please see business credit definitions and accounts that report.

Step 3.

Order items from these accounts, wait until they invoice you, and pay them in full immediately. Remember, you have to be invoiced in order for it to be considered credit. There is no real minimum that you should order. From these starter accounts, I have ordered anywhere from $8 – $18 and most of these items are things that I really do not need.

Step 4.

THE PAYDEX SCORE. When 5 of these companies report to DnB that you have paid in full in a timely fashion, you will have at least an 80 padex score with Dun and Bradstreet.(you should know what’s going on if you read the definitions section. If not, go back and read it) When you have this 80 paydex score you will qualify for bigger credit lines.

Step 5.

Obtain bigger credit lines, which will be revolving accounts, and pay the minimum payment every month on time. This will help build the track record that you want.

At this point you should be ready for some big revolving vendor lines and some cash lines of credit.