Experian Business Report I pulled a copy of my report this morning to see what my credit score was. 71. Something that irritated was their system predicts I will pay beyond terms as of January 12, 2005. HA!
CDW - CIT Bank I applied for business leasing with a computer place called CDW. They are at www.cdw.com. Their business leasing is provided through CIT Bank. Please note this is NOT Citibank. CIT provides financing with Dell computers. I applied for leasing without a pg asking for $10K. Initially my application was declined because even though my company is listed as being in business since 2002 I have only been a corporation for one year. After speaking with CIT on the phone today I told her.. "You know we are listed and rated with D&B... Is a paydex of 80 sufficient for your company?" She told me an 80 paydex was more than sufficient for approval. She also said she felt they could overlook the time in business. I was approved for $10K withOUT a PG!
76 - US Bank I received a fax today stating my application has been approved without a PG. I was very pleased.
D&B - Adding a creditor I now have 5 creditors reporting to my D&B file. I have a paydex of 80 but I received this paydex rating with only 4 creditors reporting. I suspect by year end I will have ten creditors reporting. I want to extend my assistance to anyone who wants to strengthen their D&B file. I will gladly allow you to use my company to add an item to your D&B file at no cost. Anyone who has interest in this please email me: kevinpochop@aol.com I have: AMEX Business Platinum Staples (Citibank) Office Depot (Citibank) Home Depot (Citibank) Lowes (GECCC) Kinkos Federal Express (They report to both Experian & D&B) Chevron Shell (Citibank) 76 (US Bank) Dell - CIT CDW - CIT Everything except for AMEX was approved with no PG.
How much of a credit line did US Bank give you on the 76 Gas Card? Congrats on all the new biz credit.
How much of a credit line did US Bank give you on the 76 Gas Card? Congrats on all the new biz credit.
76 - US Bank The letter did not state what my credit limit was. I requested $1K. I suspect I will have my cards within 2 weeks. I will update accordingly.
Alright, one of my residential lines is going to be converted to a business line today; I'm doing things out of order because i established this business as a legitimate business 2 yrs ago. I had no idea that you could establish big-time credit until i stumbled upon this site. Now, if we could refer to the original post in this thread, step 2 says to set up a phone in the business name. and Also set up a fax and toll free number with voice mail. Now, i'm wondering are those last two steps of setting up a fax and 800# with voice mail really nessesary, in your experiences, to be listed with D&B. And/or has this negatively affected your ability to get credit and or be listed with other business credit agencies. I don't recieve a high-volume of calls. Most calls i do recieve are on my cell because i'm away from the "office" (home) most of the time. 2) Can you tell me a little bit, based on your experiences, about getting listed with D+B? You have to request to be listed? Is there any cases where this would be automatic?
I don't believe it's necessary to set up an 800 number. D&B will only list your local number not an 800 number. I have a fax line through efax.com. It costs $15.00 a month. I use an 800 fax number and it works great. The faxes are sent to my email box and I just have to download them. You can also receive voicemail on the fax line. I have never been denied credit and or had anyone say anything when we didn't have a fax. You must have some type of voicemail system. I got voicemail through Accessline's SmartOffice. It's about $24.00 a month and you can forward your calls to another phone number. If you aren't available it goes into voicemail. More information on the Costco website. Your second question You can request a number from D&B. Be warned they might say you can't get a number without creditbuilder. You can do it. I am not sure if you can get listed in D&B automatically. A creditor would have to already be reporting to D&B for that to happen. D&B would have no way of getting you company's history and or information. Bump for one of experts.
Business Credit Setup your business telephone line and make sure your entire business name IS listed with directory assistance. Also it is very important to list your physical street address regardless if it is your home address. Apply for credit with Office Depot, Staples, and setup an account with Fed Ex. Fed Ex will require a credit to be on your account but will allow you to have direct billing after six months. Once a month send out a fed ex package. Fed Ex does report to Experian and D&B. Every little bit helps. Office Depot might decline you right off the bat but once you call them let them know all you are trying to do is establish business credit whereas you would be happy with a $250 credit line. Also let them know they can verify you as a business with directory assistance. They should approve you. Office Depot reports right away to the credit bureaus. Staples should approve you with no problems as long as they are able to verify you as a business with directory assistance. They will give you a $750 credit limit. Staples does take six months to do any credit bureau reporting. There is no need for a toll free number for a fax number unless that is what you desire. It will not benefit your business credit only assist your business doing business. I hope this helps.
Business Credit My question is this: I've taken all the steps and put in my request for a D&B number. Their response is that there is a new policy that if I get JUST the number, they won't list it in their directory. Is this true?
Business Credit You will still get a credit file. You need to ask yourself what is important to you? A credit file or being listed in their directory? Or both?
Business Credit a)What's the difference between just gettting a D&B number vs. also getting listed in their directory? b) i have an acct w/ fedEx.--less than 6 mos old. Will the switch to direct billing be automatic or will i need to request it?
Preapproved Home Depot Letter Has anyone gotten a pre-approved letter from Home Depot? I entered the reference number and company name on the website. It took me to the same application I filled out before. Home Depot denied us earlier this summer.
Preapproved Home Depot Letter I have never received a pre-approved letter for any corporate credit but I did apply for Home Depot earlier this summer requesting a $7500 credit limit. I was instantly approved for the Home Depot card. This was the only account with Citi I was instantly approved for. The rest said they needed more time to review my application.. I assume you received a pre-approval for Home Depot? (Corporate Card?) I assume you will get the card with it being pre-approved!
Business Credit I would assume the difference with a Duns number your company will begin establishing a credit file whereas being in the directory just shows your are a company who is listed with D&B? Kind of like listing your company in the telephone directory when you apply for business telephone service? Since I have been issued a D&B number with various vendors reporting to my D&B file it has made it much easier being approved for various commercial accounts without a PG. I am being approved for some decent credit lines too! This is my $.02 (I could be wrong!)
Experian Business Report Update for me. Got pre approved Home Depot in the mail for $7500. Called and told them to send me 2 cards. They came about 6 days later. Here's where it gets wierd. As far as I know I don't have a Paydex yet. I have 3 lines open. The offer was in the name of my Corp., but all my other tradelines are in the name of my DBA. Checked the Experian report link that Kev gave us and it shows no score available for my Corp. and 2 trade lines available for my DBA. Experian also shows my previous address.
Experian Business Report Do you have any business credit lines issued through Citi? Maybe a paydex is not needed? I have a paydex with 13% utilization with NO PRE-APPROVALS! :-( Not that I need any more business credit...
Business Preapprovals We have a 20K CC with Quicken (Citi USA). We have had it for almost a year. We do have a paydex. The Home Depot pre-approved offer says Citi USA. The credit line on the pre-approval says 15K. I wonder if anyone else sends out pre-approvals like this. I would like to pick up two business line of credit. LOL Bigmon, thanks for sharing your experiences. I think I will go for it.
