Re: Business Credit, Th Is that like a supplier? Most of the ones I wanted to use weren't on dnb. Did you get all 3 this year?? I didn't know they did multiples, I assumed they'd just raise the cl on an existing card. Are they loc's or cc's? We were considering applying for chase loc, like I mentioned; us bank loc; wells fargo loc; mbna biz card; and possibly the advanta card. Also one partner was going to apply for amex biz loc when his 90 days were up. We thought that if he has personal cards with them and one amex biz card with 5k cl, he had to wait the 90 days to reapply. Is that right even if they're biz cards? If each of us pg's 2 we could apply for 6 lines or so.
Re: Business Credit, Th Amy, A vendor and supplier are the same. Sounds like your really going to town on getting business credit lines. Does anyone know if you're more likely to get approved for a bus. credit card over a personal one? After reading these posts it seems that way.
Re: Business Credit, Th Amy, A vendor and supplier are the same. Sounds like your really going to town on getting business credit lines. Does anyone know if you're more likely to get approved for a bus. credit card over a personal one? After reading these posts it seems that way.
cost Actually I did reply to this but I guess it was the one my computer rebooted on. We don't check very often and what we see is free, with score, but it's not a complete report.
cost Actually I did reply to this but I guess it was the one my computer rebooted on. We don't check very often and what we see is free, with score, but it's not a complete report.
cost Nestea.....I think my partner accesses it as part of our membership. Did you order the credit builder program yet?
Chase Pooch, I just posted on another thread that we called chase about their biz loc today and they don't do them in TN because they can't do an onsite inspection! Was wondering if you had one or just their business card. I think you mentioned having another card but it might have been a personal to start with. I know you mentioned having multiple BofA lines and wondered how that happened or why you decided multiples?
Chase Chase won't do it in CA either because they don't have branches here. The closest Chase branch to me is El Paso, TX
Chase Hey everyone....got the my first business card without a PG. It's Staples. CL is only $750, but it's a start. Does DNB have the same INQ system that the other CRA's have everytime you apply?
biz inqs I'm curious too, but I don't think so. Doesn't seem like they are as concerned with biz credit, but I could be wrong. Heard anything about Farm Bureau bank yet? BTW big, if I had it to do over, I wouldn't have gotten so much new personal credit. I didn't think about how much more important to us it was to acquire biz credit.
Business Telephone Line If you're using Verizon, there is a little way around some of the extra fees they charge for a business line vs. a residential line if you have the time. First, open a residential line for your business. This way they won't charge you the extra $75 to be listed in the yellow pages. Then, 30 days later switch from residential to business. *snap* And just like that you have a business line without that riduculous $75 setup fee. Worked for me
Re: Chase We have the Chase UPS business card. We have 3 Chase personal accounts between us as well. With respect to BofA, we each have a personal account that's about a year old. We got a preapproved offer for one of our businesses and got the first business account that way about 3 months ago. We got a preapproved offer for our second business and didn't respond immediately. Then got a second invitation. We applied online using one name as PG for the second invitation. After that approval, we applied online using the other name as PG for the first invitation. It was approved also. (Interestingly, both offers were past the expiration date when we used them.) Between business and personal, CLs with BofA total well over $100K. When we got the 3 business lines, TU was around 745 and Paydex was 80. FYI, we have a brick and mortar specialty retail business. Hope this helps. DemPooches
Re: Business Credit, The Backdoor A What's the difference? I need to set up my wifes new salon as one of these S or C or LLC, and I don't know which. Can you advise (and rather quickly, if possible)?
Re: Business Credit, The Backdoor A an LLC is better for tax purposes. a C Corp. is better for biz credit. with a C corp, you can still avoid the "double taxation" reason people like LLC's.... at years end, you pay the corporate earnings to the Corp's employee as a salary or commision... I am not a CPA... dont know exact legal ramifications/loopholes...
Can anyone address these questions I was looking to buy a 3 year old aged Corp, possibly with the EIN, Bank Acct and a DNB already in place. Am curious if this type of situation will yield better results in accumlating different business credit - department or bank cards.
Re: Re: Business Credit, The Backdoor A I here the S corp. is the way to go if you want to reduce SE TAX????? Is that true??
Re: Re: Business Credit, The Backdoor A Like nestea & sbc, I'm also interested in knowing if a shelf/aged corp would help in getting biz credit with no PG. I've been checking them out and may purchase one next week.
