Does anyone know of a business credit available that is approved based completely on the company's credit and not an individual's personal guarantee. I've just bought a home and my escrow officer says I personally can't apply for credit for 45 days. I guess they don't want my financial picture to change. Most of the business credit card programs I've seen require me (as an officer of the company) to list my social security number and home address so they can pull a bureau. I'm told they won't report the account on my personal report and just want my info as a guarantee. I'm president of a company that's been in business for 4 1/2 years, we have 5 employees and have been very profitable since the beginning. Can any help???? Any sugguestions? Your feedback/response would be appreciated!
RE: Establishing Business Cred IF THE BUSINESS DIES, they want to come after you...if the business is running well, good, but they don't care!!! IF ESCROW HAS CLOSED...45 DAYS IS A GOOD JOKE. ON THE OTHER HAND WHY CAN'T YOU WAIT 45 DAYS???
RE: Establishing Business Cred I would apply for an Amex Corporate card or just go to your bank and asked them for a line of credit in the business name. Your best source of credit is the bank or creditor you have had a relationship with. Lots of banks are offering up to $100,000 with a short form. http://www.creditsense.com
RE: Establishing Business Cred AMEX still runs personal credit unless you're a large Corporation. Fortune 500 company
RE: Establishing Business Cred Amex does offer several corporate cards as well as lines of credit, but they want an officer of the company's social, home address, home phone, and personal guarantee. They will also pull your personal credit report continously. Our business has been a customer of theirs for three years. Since the card was authorized by me they pulled my personal credit report and changed my home address to the business's address (where the bill is sent to). It only took a letter to Equifax to correct it though. Almost all of the credit services I know require an officer's signature. If anyone knows of any bank that does not I would interested in knowing too. PS Amex will sell your name and address to everybody, so beware.
RE: Establishing Business Cred Nice thing about AMEX Corp is it WON'T report to your personal credit bureau report.
RE: Establishing Business Cred Dani wrote: "Amex will sell your name and address to everybody." Not if you call their "opt out" line: 1-800-297-8378. You can the choose whether you want to block: (1) Amex solicitations, (2) Amex's partner solicitations, or (3) Both. You may also opt out of telemarketing lists. Saar
RE: Establishing Business Cred No Corporate Credit card should be reporting to your Personal credit. They will only pull your credit but no tradeline should be created. However your company will have a tradeline added to it's D&B and or Experian Business credit reports.
RE: Establishing Business Cred Tyson is right. Amex does not show a tradeline for the company on my personal credit report, but they do pull the report several times a year. I assume to verify your standing and if you are paying your personal bills on time. I believe that to be an invasion of privacy. It would be one thing if they pulled the company's D & B report, but why mine? As for the opt-out when we first opened the account I sent back to them their enclosed brochure which allows you to opt-out on their solicitations as well as their partners solicitations and I still received stuff. After a month of two I called their Customer Service department and stated my problem and the lady I spoke with said she would handle it. Three years later I still receive their solicitations, at this point it doesn't matter I just throw them out anyway. Happy New Year everyone!
