Does anybody know where to get a secured business credit card? I don't want a personal secured card, just a business secured card.
You should start with your bank,where hopefully you may consider doing a secured loan as well to get you business credit up to par. Also starting out you want to secure you net 30 vendor accounts, such as
Strategic Network Solutions here's a promo code I got from my last purchase= snsgb
You also got Bitwave Design customer code: 213
What I found so great about these companies,is that they're lendable to any business take Strategic Network Solutions, they can handle All you software and/or hardware needs. Bitwave Design,deals primarily with web design.
So ordering from these companies will immediatly build up your credit file,so you can get unsecured lines of credit.
I agree that your bank is a good place to start.
You can also get assistance developing Business Credit via FundingUniverse.com Just let them know you're interested in the Business Credit option.
Also, be sure you have a company bank account (DBA, LLC, or corporate). You may need to start with opening accounts with Staples, Office Depot, gas card etc to establish credit in business name.
It also helps if you get an unsecured loan from another bank and pay it off quickly. Just open another company bank account. Deposit $500-$1,000 or so. Get a secured loan against the deposit. Pay it off quickly. Then go to another bank and do it again. It will show up in your company credit profile.
Most us do use credit cards, while some of us use the credit card for personal expenses many others make office bill payments, office stationary payment etc and in that case a business credit card would have certain benefits for the credit card holder.
Well yes and no, things have become so different even as of my last posting, i have learne A LOT about Business Credit, and you need to get a duns number from dnb
and then you need to get a paydex score. But, when getting a duns number from dunn and bradstreet, you need to be careful not to get your file "flagged" by them.
Which in essence means they will actually slow down your orders "tradelines" from showing up on your credit file! How mean is that. However one person will give you detailed information for free on how to get up to speed.
http://www.gboogie.net is the undisputed King Of Business Credit Hands down
Other than that,once you know how to use the bank to your advantage, you should make sure you got your foundation in order first. As far as DnB, they are not a real credit bureau in the traditional sense,
Now Experian Smart Business is, and you can actually order from companies like http://www.tradesmartproducts.com that report to them very fast, and are great for startups and established business alike.. Hope This Helps
Using a secured credit card small business, you may be entitled to certain benefits not available to people with credit cards personal guarantee. Secured small business credit card usually requires the holder to open a special savings account and make a minimum deposit before the credit card may be issued. Some cards guaranteed not provide credit equal to the amount deposited in the account.