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Click to view Jon.icp's profile Professional Jon.icp 17 posts since
Nov 3, 2007
15. Re: business creditcard Nov 3, 2007 5:33 PM
in response to: wright

Is that score only from one company? There are three. They take the middle of the three to use when you ask for credit. I wish my credit score was like yours. I keep spending the money I pay off on my card so my balance never goes down.
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Click to view wright's profile Professional wright 9 posts since
Oct 25, 2007
16. Re: business creditcard Nov 5, 2007 1:56 PM
in response to: Jon.icp
Yes that score is from one company.
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Click to view DomainDiva's profile Mogul DomainDiva 1,727 posts since
Oct 10, 2007
17. Re: business creditcard Nov 5, 2007 2:03 PM
in response to: wright
Pay off your balance every month. A score of 683 is low for what banks are looking for since they open a business credit card based on your personal ability to pay. The good news is you don't have far to go to get to 720. Thats the magic number. Pay everything on time and credit balances in full every month.

Get copies of your credit report and review review review for any information that may be outdated or not correct.

Also too remember when you are applying for credit since you don't have a long history do not ask for a high credit line. Ask for something low...when you show yourself to be creditworthy (paying off balances, paying on time) the credit card companies will raise your limit. It takes time to build good credit and it looks like you are on your way!
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Click to view wright's profile Professional wright 9 posts since
Oct 25, 2007
18. Re: business creditcard Nov 6, 2007 4:20 PM
in response to: DomainDiva
Thank you very much for those useful information, they say self praise connot be recommended, but i must say that i am very much credit worthy.

What makes me credit worthy is that i take credit very serious, and respect very much any individual or institution that offered me credit.

This is why my credit score got this far this quick, so to everyone out there who have ever been given cerdit by any individual or institution please treat it with priority.

To everyone, i must tell you this i started business with actually nothing and it is because of credit that got me where i am, doing business internationaly.

No business can reap real success without credit, so to all of you be credit responsible and make good for yourself and others.

Good Luck.
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Click to view Lucky7's profile Professional Lucky7 16 posts since
Nov 7, 2007
19. Re: business creditcard Nov 8, 2007 12:41 AM
in response to: wright
Paying your credit card company on time is different from paying it off completely.

Paying on time shows exactly that - you pay on time.

Paying off the debt completely does cause a negative response. I forget what the exact reason is but like the other person wrote, it has something to do with your debt to income or one of those formulas.

To get your credit report the only true free site I know of is:

http://www.annualcreditreport.com

You can access all 3 reports for free.
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Click to view wright's profile Professional wright 9 posts since
Oct 25, 2007
20. Re: business creditcard Nov 8, 2007 8:06 AM
in response to: Lucky7
This website can only be access by ISP (internet service provider)
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Click to view lakai123's profile Start-up lakai123 2 posts since
Nov 12, 2007
21. Re: business creditcard Nov 12, 2007 12:50 AM
in response to: Jon.icp
If you have trouble getting a Business credit card, try applying for a secured line of credit instead. It's kind of like a pre-paid credit card.
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Click to view AndreReisSBS's profile Start-up AndreReisSBS 1 posts since
Nov 15, 2007
22. Re: business creditcard Nov 15, 2007 9:40 PM

One option that you have to help you build your personal credit, although it is still a product you have to get approved for is a fully secured credit card. Which means say you deposit $300.00, you would have a credit limit of $300.00. I've helped many of customers establish credit this way.
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Click to view Lucky7's profile Professional Lucky7 16 posts since
Nov 7, 2007
23. Re: Nov 17, 2007 1:29 AM
in response to: wright
How else can I request my free annual credit report?
If free credit reports are available in your state through the Annual Credit Report Request Service, you can request a free annual credit report by phone or mail and it will be mailed within 15 days. However, you can receive a report immediately by using this secure website.

http://www.annualcreditreport.com/
 To Request your Credit Report by Phone:
  • Call 1-877-322-8228
  • You will go through a simple verification process over the phone.
Your reports will be mailed to you within 15 days. Please, allow 2-3 weeks for delivery.
To Request your Credit Report by Mail:
  1. Download the https://www.annualcreditreport.com/cra/requestformfinal.pdf (You need an Adobe viewer to view the requested form. Download the http://www.adobe.com/products/acrobat/readstep2.html)
  2. Print and complete the form
  3. Mail the completed form to:

    Annual Credit Report Request Service
    * P.O. Box 105281*
    * Atlanta, GA 30348-5281*
Your reports will be mailed to you within 15 days. Please, allow 2-3 weeks for delivery.
Security:
Please use the request form authorized by the Central Source only.

Deaf and hard of hearing consumers can request their free annual credit report through this secure website, by mail, or by calling 7-1-1 and referring the Relay Operator to 1-800-821-7232. |


How can I get my credit score?
You can purchase a credit score by contacting one of the nationwide consumer credit reporting companies.

Equifax - http://www.equifax.com/
Experian - http://www.experian.com/
TransUnion - http://www.transunion.com/

The addresses for the credit reporting agencies are listed below:

Equifax
P.O. Box 740256
Atlanta, Georgia 30374

Experian
P.O. Box 9532
Allen, Texas 75013

TransUnion
P.O. Box 6790
Fullerton, CA 92834
What about companies that claim they can improve my credit report for a fee?
The Federal Trade Commission (FTC) cautions consumers to be wary of companies that make claims regarding credit repair. These companies, commonly called credit clinics, don't do anything for consumers that consumers cannot do for themselves at little or no cost. Beware of any organization that offers to create a new identity and credit file for you. The FTC and state attorneys general have filed actions against those who pursue these fraudulent practices. Here are some warning signs that the FTC and others say consumers should look out for to determine if they might be dealing with a credit clinic:
  • An organization that guarantees to remove late payments, bankruptcies, or similar information from a credit report
  • An organization that charges a lot of money to repair credit
  • A company that asks the consumer to write to the credit reporting company and repeatedly seek verification of the same credit account information in the file, month after month, even though the information has been determined to be correct
  • An organization that is reluctant to give out their address or one that pushes you to make a decision immediately
For a helpful brochure about credit clinics, you can write to the Federal Trade Commission, Sixth and Pennsylvania Avenues, N.W., Washington, D.C. 20004 and request a brochure titled "Credit Repair: Self Help May Be Best."

I've provided the information above from their website. You can read the rest of the information which is very helpful by going to the website and selecting "Frequently Asked Questions" tab.

It's great information. I hope this helps you find the information you needed.
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Click to view creditguy's profile Authority creditguy 14 posts since
Mar 10, 2008
24. Re: business creditcard Mar 10, 2008 1:33 AM
B of A can be convinced. Here's how:

Your business can borrow large amounts ($25k or more) with no personal guarantee, without even a credit check, if you agree to hold the proceeds of the loan on deposit. Then you can make monthly interest payments for a while before returning the deposited loan proceeds to repay the loan.

This builds business credit in real dollar amounts because it can be done and reported to D&B and Experian Business Credit. You can have more than one account at a time. You can do the same thing with your personal credit, and have it reported to Experian, Trans Union and PRBC.

Also, in both cases, the lender will give you the option of refinancing their loan to you, using a BofA or other bank loan or bank line of credit. To get it done, the original lender will post an amount equal to your deposited funds as collateral with the bank. Now you become the source of a big deposit and a cash-secured loan or line of credit for bofa or another bank, a big leg up. See http://www.creditloader.com/
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Click to view funds2924's profile Mogul funds2924 36 posts since
Jan 14, 2009
25. Re: business creditcard Mar 30, 2009 11:35 AM
We are involved with banks that are lending it is improtant to know who is underwriting the banks products. You could apply with one bank on the east coast and one on the west coast and the same underwriter is reviewing the profile. We can help check us out www.innovativereturns.com looking forward to hearing from you.
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