I have had my business for a couple years now, but haven't really had any active trades that would get reported to my DNB file. Are there any easier cards to get which do not require a PG? I've read much on this board but in some cases get mixed messages. For instance I have read Staples is usually an easy card to get which basically involves just supplying an EIN and they may verify your business thru 411. In other threads it says something to the effect that Staples is apparrently now using Citi in which case it may now not be so easy to obtain a Staples card without a PG? can anyone shed light on that one? I am aware that bank cards are not going to be easy without a high paydex so I won't even attempt those. But if anyone can shed light on some easy busines cards to get, be they gas, store, etc I would be interested as I am finding need to build business credit now that my business is actually picking up. Any input is appreciated. thanks
I have: Staples -700 cl no PG Home Depot Commercial Revolving Charge-2800 no pg Home Depot Commerical Charge (pay in full) 5000 cl, no pg Lowes Business Revolving - 4000cl no pg Office Depot-2000 no pg The funny thing is all my homedepot's and Office Depot and Staples are through Citi, but they won't give me a personal card b/c of my BK, but I have all this business credit
Hi what was your paydex at the time or how long was your business established with active tradelines? or did Staples and HD basically give these lines upon basic validation that your business merely existed? did they check your business bank account(s)? to your knowledge what steps did they take to grant credit? I would think that if you had an established Paydex these would seem obtainable, but without a paydex rating.
I got my staples without a PG and after Citi took over the Staples portfolio.. They gave me a 750 limit.
I had noticed with Staples that they have a space for personal gaurentee on their app. or so someone pasted that part of the app on another thread.
We are in the same situation as you are. We have been a business for a couple of years but no active trades on D&B. I left the PG blank on Staples application. Received a $750 limit. I believe it has to do with being listed in 411 and having EIN. Our business has gotten bank credit cards without a Paydex but we had to PG them all. We got turned down for Amazon Corporate LOC. I am thinking about getting a secured gas card (Exxon). You have to get denied for the regular card first. We are finding that you need a PG for almost everything unless you have a paydex. We did apply for net accounts with Nebs, Viking and Unline. We have used them for the past month. Hopefully we will get a paydex soon.
what are those net accts you spoke of? viking, nebs, etc... were they DNB reporting and easy to get? As I understand it Staples wont report your payment history for 6 months on their new accts and quarterly thereafter. But it seems that Stalpes is a given if you have an EIN and have your business listed in 411. does it matter if you apply online or go through the local store with a hard application?
It doesn't matter how you apply for your Staples account. Just fill out the application online and as long as they can verify you as an actual business you will get the account. They want to be able to verify you through 411 with your company name and physical street address. They will give you $750.00.
You guys have started another thread on this subject. Check out: http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=424222#post424222 There is a whole lot of good information there and answer to many of your questions. This is a subject I have a lot of passion for and have posted a lot of good information for your use.
Hi yes I saw that one. It is a good thread! though I was just making sure it was the same criteria since that thread started a few years back. things happen. underwriters change, etc. Good to know Staples will still let you get your foot in the door to open up an acct. Any other easy ones to get without a Paydex please advise. Is this true that you need 5-7 seperate creditors reporting to your DnB before a paydex is generated? thanks
D&B told me they need 4-5 vendors reporting before a paydex will be issued. If you look on the threads you will see dates of last postings. The last page is the most recent..
Ooops. im sorry. Im sure that rule was posted on one of the admin threads and I failed to read it. silly me.
I have no clue what my Paydex is, my D&B file only has 3 trades on them, 2 don't belong to me, I just incorporated as an LLC in May of this year. Basically they all just verified that the business existed and gave me the credit lines I have. FYI, I incorporated as a "financial consultation" LLC, (helping people repair their credit by any means necessary and file many many suits for FDCPA and FCRA violations)
Arob... sounds like some businesses have more trouble than others. The one thread basically states that you should take out the Staples account and any other that will in essence 'give' them out to you and then after payment history hits places like Lowes and HD will send you preapproved business card offers. Though by testimony from business owners like yourself one apprently can at times apply right off with Lowes and HD and get a line of credit based on the existence of the business. I think it's funny the way some of the system works. makes you wonder if some of these 'flukes' of approval are at the hands of a human or computer. I think a lot of people are probably getting the Lowes and HD commercial cards without having 5-7 tradelines and possibly without even a Paydex?? I mean technically if you only have three tradelines you shouldn't have a Paydex, right? haha... Pretty interesting stuff. We are looking for logic.. or at least consistency in the system and it just isn't so. Yes there are criterea to meet to get an approval. On the other hand say Joe Blow who operates the data entry for the underwriter and is taking an application from a local store sending it in. For whatever reason his computer is acting nasty and not cooperating and he knows he has to give an instant approval or decline as a likely sale is at hand. Is it beyond the scope of logic for some o fthese guys to issue an approaval even if the computer has not issued anything because of technical problems? This has to happen a lot and what do you do? blow away good customers because your computer can't process the app at the moment? risks get taken, people slide. In any event food for thought. and I did see quite a lot of business credit questions on many threads so I assume it is not all kept on one thread. However in the interest of not cluttering the board with redundant info or deviating from personal credit topics, I will not start any new business oriented threads. Am still interested to hear the aproval time and pattern when some of youmay have gotten approved for business credit without PG when your business was just beginning in the first few years. thanks
How is it you got a Home Depot credit and charge card with NO PG, with your business only being a few months old? On their application it states a PG is required if your business is less than two years old. Someone at the credit center is not going to be having computer problems and just approve the application. I have spoken with Home Depot regarding their policies. On all applications, regardless of what someone's paydex is, a PG will be required unless your corporation is two years old.
How is it you got a Home Depot credit and charge card with NO PG, with your business only being a few months old? On their application it states a PG is required if your business is less than two years old. Someone at the credit center is not going to be having computer problems and just approve the application. I have spoken with Home Depot regarding their policies. On all applications, regardless of what someone's paydex is, a PG will be required unless your corporation is two years old.
