I have a small computer consulting business that I run. I would like some business credit to pay for small software and hardware purchases. My invoices are paid upon reciept so I have a nice cash flow, but the business is new and I don't have a lot of extra cash after taking care of expenses. Everytime I need to purchase something I am dipping into my personal funds. My personal credit is shot and can not get any credit in my name. I have a EIN and a DNB number. Questions: If you have a DNB number what information do you have on file with them? What information did you have on file with them when you were approved for your cards? What cards and lines of credit do you have? What kind of limits have you gotten from companies like Staples and Office Depot? How much money was in your business checking account when you applied for credit? Have you gotten any credit cards (non store) that did not ask for your personal information? Thanks in Advance
I have a small business too. I've never checked the D & B report so I don't know what's there. I think it's hard to get business credit within the first two years. After that it gets easier. I had no business credit at all until 2000 when I received a preapproved Chevron gas card. Then I received preapproved Staples and Office Depot. After that, I got an Advanta business card and the Citibusiness platinum. These are the accounts and credit lines: Chevron $2K. Staples $1,900 Office Depot $1,300 Advanta $12,500 Citibusiness $5K. I get alot of offers for more cards but I don't need them. The retail cards are slow to grant increases and the APRs are high. Advanta and Citibank are both just a few months old. I think Advanta and Citibusiness asked for personal as well as business income. Had to provide SSN. The others didn't ask for any personal information.
Daveberk, When you received your Citibusiness credit card and Advanta, how was your personal credit? Did you have pretty decent scores? Have you ever been declined business credit due to your personal credit file? Appreciate your help.
I have been declined for additional business credit, due to too many personal lines. The D&B report contains a Profit & Loss statement that you supply. They send me a form every year to update it. www.creditsense.com
Please remember that "business" credit cards are ONLY covered under FDCPA,TILA and FCRA for initial offering and identity fraud. NOTHING ELSE !
Whychat, if I have a business credit card and it's deliquent the credit card company can report it forever?
$wealth$-- When I got the citibusiness card, I had three other cards with Citibank and several other revolving accounts. I had old paid tax liens but no other derogatory information on my report when I applied.
