Re: Business Credit I spoke with Citibank regarding their business accounts (MasterCard's). They told me they do not report their business accounts to Dun and Bradstreet and at current time they also do not report their business accounts to any personal credit reporting agencies but this will change in the coming months as they will be reporting all business accounts to peoples personal credit bureau reports. I spoke with Chase regarding their business accounts. They told me they report their business accounts to business credit bureaus. When I inquired if this was Dun and Bradstreet he or anyone could not answer this question. All they could say is they report their accounts to business credit bureaus. They also told me they do NOT report their accounts to any personal credit reporting agencies.
Re: Business Credit I called ExxonMobil about the offer for a secured card and they said you have to deposit 2x the limit. So for $500 limit they want $1000 deposit. I'm gonna pass on them. I tried Shell and Office Depot again without a PG a few days ago. Waiting to hear from them.
Re: Business Credit I just looked on the Sears web site (www.searscard.com). They offer what is called the "Commercial One" account for businesses. Looks like they will approve an account without a PG if you are in business for two years. Also looks like credit is issued through Citibank.
Re: Re: Business Credit You are better off applying for the Wells Fargo Secured Business MasterCard. They will even approve with a BK on anyone's record as long as the BK is one year old. I might do the ExxonMobil card regardless of the limit to deposit ratio just to establish the business credit. Currently I have: American Express Business Gold Card, Staples, Federal Express, and ELEASE (www.startupleasing.com) (Equipment Lease). All of the above report to D&B. I suspect within 3-4 months D&B will create a paydex for me. Later this month I will be applying for the Wells Fargo Secured Business MasterCard.
Re: Visa or MasterCard's withOUT PG Does anyone know of any Banks that will issue Business Visa or MasterCard's without a PG? I can't seem to find any.. Any help is much appreciated.
Re: Visa or MasterCard's withOUT PG I don't think you'll find a bank that will give you credit without a PG until you can show several years of business with really good profits. Basically, you need to show them you don't need the money. I've been told that so many banks got burned on bad loans without PG's.
Re: Visa or MasterCard's withOUT PG can you provide more info on your experience with elease? thanks! Nestea/BizCredit
Re: Re: Visa or MasterCard's withOUT PG Kev, thanks for taking the time to call and posting all this great information. I greatly appreciate it. To your question I don't know of any bank that doesn't require a PG for a Business Visa or Mastercard. Sorry
Re: Re: Visa or MasterCard's withOUT PG ELEASE was very simple. Depending on how strong your personal credit is (they do require PG) depends on the money factor they will offer you. They received our loan docs back on a Monday and we had our equipment on that Thursday.
Re: Re: Visa or MasterCard's withOUT PG I have looked at Web Sites for ALL major banks around the United States and all applications state a PG is required. :-( I expect to have my paydex in 3-4 more months as I have sufficent vendors reporting to D&B. In September I hope to qualify for Blue Cash for Business.
Re: Re: Visa or MasterCard's withOUT PG Kev, It's good to hear that Elease worked out for you. There are so many equipment leasing companies that are scams.
Viking, Uline and Nebs Viking and Uline are Net 30. Nebs is Net 7. www.viking.com Office Supplies www.nebs.com Office Supplies www.uline.com Shipping Supplies All three report to D&B.
PayDex Score I am interested in hearing from anyone who has a Paydex Score and who also knows what their Paydex Score is! How old is your company? How many trade lines are reporting to your Dun and Bradstreet? What is the highest dollar figure reporting to your Dun and Bradstreet? How long did it take you once you started obtaining business credit for your accounts to report to Dun and Bradstreet? What sort of business pre-approved offers do you get in the mail? Thanks for your time!
preapproved offers I get 3 offers from Capital One weekly. I get 2 from Bank One. And God-knows how many American Express sends me. American Express likes to put sample cards of their business products into the envelope. I have a stack of Blue for Business Cards. I am hoping by September I will qualify for Blue Cash for Business. NONE of which are pre-approved. Funny thing is Capital One and Bank One tries to mask who they are from and makes them look like something very important so I will open the envelope. Bank One sends me a yellow 9x12 envelope that says DO NOT BEND. I am hoping by year end Dun and Bradstreet will give me a decent paydex score so I can start getting some good offers.
preapproved offers Kev, Last week I got approved for Office Depot for 1k without a PG, after trying for a year, and Kinkos without a PG. This puts me up to 3 accounts. I think it takes 5 to get a Paydex. I'm still waiting to hear from Lowes and Shell.
preapproved offers I was thinking about applying for Office Depot but I think I wanna wait until my Staples is 6 months old. Any idea what a DS rating is for D&B? That is what my company has currently.
a DS rating is Dunns way of telling those who pull your file that there is not sufficient history to rate your file yet. I jut got my Staples. there are conflicting reports on what else is easy to get with a new business file or at least a lack of Paydex score. Lowes said no dice when I attempted to apply and the operator said to reapply with a PG and I might get somewhere, Will Lowes and HD eventually send me pre approved offers at some point in the future? also Ive read about a lot of people getting office max or office depot refused to their business apps. Is it worth faxing an app to these two without a paydex? Since it takes 5+ accounts to get a paydex how have others managed to get business trades reporting to DnB without a PG?? are there any other places like Staples?
Office Depot might approve you but I hear Office Max has a different approval process and most likely will turn you down, especially if you already have Staples and Office Depot (all credit extended through Citibank)
