What you need is a Paydex Score and or an experian business file and the best way to get that is to get a combination of new revolving accounts, telephone and some Net-30s.
1. Make sure you have a business phone
2. Make sure that business phone is in directory services/411 - can you call the operator and ask for your business by name.
3. Get your DUNS number and if you don't have one request one. Do NOT i repeat do NOT by the "Creditbuilder" just tell them you want a DUNS number so you can big or take part in government contracts.
4. Once you have your business phone in 411 and your duns number, go and apply for a STAPLES and OFFICE DEPOT card. Make sure you use your EIN, DUNS (if asked) and your business address you want on file when requesting these cards. YOu will usually get 500-1k in instant credit from either one of them. Order some pens/pencils and PIF (pay in full) or whatever immediate affordable supplies you need from either of them.
5. Get a Net-30 from "Reliable.com" office supplies. Just call and ask for Net30 terms office supplies products. Again, order something cheap and PIF
6. Get a Net-30 from "RapidForms.com" - i ordered ink stamps for check deposits, new checks and other business necessities and paid as soon as i got my invoice.
7. Get a Net-30 from a company like uline.com - order some boxes, labels, packing slips - pay in full.
Now here is where patience is a virtue. Wait 1-3 months for these credit lines to mature and show up on your Duns and Experian business reports. Be sure you PIF everything so you don't have any balances do - the idea is to boost your score with tradelines.
Once those accounts have matured try and get a Shell/Exxon/Mobile gas card - net30 account is fine. This is usually the final type of card/credit line you need to boost your business to some maturity in your credit report file.
Once that is done and everythig has been paid you can try for Home Depot/Lowes credit cards... usually pretty lenient on small/new business. Many people have had GREAT luck with KeyBank Mastercard. I was able to get Chase Small Business, Citi Platinum Plus, Chase Amazon.com business and Amazon.com net 30 accounts pretty quickly after getting my file established. I went through a similar process and have been able to buildup 100k+ credit lines in less than 1 year.
PATIENCE, Consistency and RELIABILITY are the keys to getting business credit. Some other net-30's that are good to get - Nebs.com, Grainger, US Plastics, Quill, Wearmark, Labor Ready and any local business who will offer you verified net30's that report.
in response to: moogrdotcom
