How do you go about starting a buisness that builds credit? Do you get a T.I.N # AND start with Capitol one or do you rely on your personal credit history to get it going?
"How do you go about starting a buisness that builds credit? Do you get a T.I.N # AND start with Capitol one or do you rely on your personal credit history to get it going?" The first step is to have a plan. Yes, you can get a TIN and start a business to build credit, but you will not have any business credit, till the business has been around for a while. It took CreditWorks close to a year to get it's first credit line, it may take 2 or 3 years for some businesses. You can start the business and use your credit plus any other principal's credit to build a payment history for the individuals and a time elapsed history for the business. The sooner you start, the sooner the history starts. We now can say and do say, "CreditWorks has been paying over 19% APR, since 1996", not bad, eh? www.creditsense.com
