has anyone one used some of these trade line companys out there? What was your experience? I dont know about pay 1k to someone who says they can build your credit . any feedback would be helpful.
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Hey there-
I would be very (very) cautious about using these services. There are a lot of con artists out there and these people seem to pop up and disappear all the time. Everything they promise to do can be done without their help (and legitimately)-it just takes time.
Not only that, but Dun & Bradstreet is very sophisticated these days and are good at sniffing out dubious-looking situations and that could lead to all sorts of problems. I don`t know anything about the legality and all that but I do know that at the very least you could wind up with the D&B version of black mark attached to your name (and any company that you`re associated with). I`ve seen that happen before and it is next to impossible to get it removed (they don`t operate like the big three credit bureaus).
Here is a good resource: http://www.ripoffreport.com. Do a search using "trade lines" and you`ll get lots of results.
Thanks,
RF
I would be very (very) cautious about using these services. There are a lot of con artists out there and these people seem to pop up and disappear all the time. Everything they promise to do can be done without their help (and legitimately)-it just takes time.
Not only that, but Dun & Bradstreet is very sophisticated these days and are good at sniffing out dubious-looking situations and that could lead to all sorts of problems. I don`t know anything about the legality and all that but I do know that at the very least you could wind up with the D&B version of black mark attached to your name (and any company that you`re associated with). I`ve seen that happen before and it is next to impossible to get it removed (they don`t operate like the big three credit bureaus).
Here is a good resource: http://www.ripoffreport.com. Do a search using "trade lines" and you`ll get lots of results.
Thanks,
RF
Be careful, with and what they offer. What exactly are you trying to do? I may be able to help you. I established my own corporate credit in 9 months... I can give you a list of companies that are willing to give your start up business trade lines without guarantors.
-------------------------
Edgar Monroy
Web Developer / Owner / Consultant
When starting your own business the need to "know-how" is greater than money!
http://www.nuevolution.net
-------------------------
Edgar Monroy
Web Developer / Owner / Consultant
When starting your own business the need to "know-how" is greater than money!
http://www.nuevolution.net
I
found this information on another SuN forum that I think can help you.
Lisa D.
Here is what I have learned:
~Set up a Corp business. Smart to protect yourself and the only type of business that allows you to keep your business credit and personal credit seperate. LLCs and Sole are okay for contract work or property investment, but you still should get a Corp to manage them.
~Once you get your EIN, through registrastion, set up your business phone. You will need to make sure it is at an address not the same as your home (because it is not looked upon favorably by the lending world) and the phone will need to be registered in the 411 directory. Quite a few have had success with calling the local phone company and getting a call forwarding number. It is a business number that automatically forwards to any desired phone. Make sure it will list with 411 before signing up however.
~After receiving your first phone bill, go to www.staples.com and fax in copy of application along with copy of phone bill to apply for business credit. Use professional letterhead for coversheet. You should receive the standard $750 credit line with no personal guarentee (herein referred to as "PG").
~Also during this time go to www.dnb.com and register your business to receive a D&B number. It will take 30-40 days to receive it in the mail. If you want to establish business credit sooner, you can pay for the credit builder ($399), but it`s not required. After you have at least 5 business accounts reporting, you`ll receive a paydex rating (similiar to FICO for personal credit).
*REMEMBER - a paydex score will only take into account your payment history. Unlike personal credit, this is counted in days. For example, if you pay your invoices 14 days late, it will be reported as such. If you pay your account off before the statement or invoice comes, it will be reported as such. The bottom line: Pay your invoices on time, and you will get a better paydex score.
~Set up the following business accounts, and make at least one purchase, you want to pay this off BEFORE the first statement hits:
*1. UPS - www.ups.com
2. FedEx CONTACT Revenue Services Department 1-800-622-1147 press 4 then 1
3. Barnes & Noble CONTACT Purchase order department 1-212-414-6000
4. Quill Corporation 100 So
*5. Viking
6. Rapid Forms
*7. Nebs - www.nebs.com
*11. Office Depot www.officedepot.com Apply online
(*- Really easy to get)
~Need a cell phone? Once you have a EIN and D&B# apply for a business account. Usually T-Mobile is the easiest to get credit with, but I`ve heard that Sprint, Cingular, and Verizon are easy to get as well. Nextel? Good phone, but you have to jump through a lot of hoops, and you usually have to put down a deposit.
~If you have at least 30-45 days to use, the following companies automatically report to D& B creating your business file:
-FedEx
-UPS
-Staples
-Viking
-Nebs
-Office Depot
has anyone one used some of these trade line company`s out there? What was your experience? I don`t know about pay 1k to someone who says they can build your credit . any feedback would be helpful.
Just a couple of quick things:
1. While there are some (few) companies that can really "help" a company establish credit - I don`t think it is reasonable to expect them to perform miracles. For example, if one`s personal credit will not allow for a loan of $20,000 - I would not expect to be get a $50,000 loan for a brand new company in a few weeks.
2. This may not be the best way to finance growth.
How much capital are you seeking and for what purpose?
-------------------------
Business Growth Masters, LLC -
Capital Catalysts for Entrepreneurs
Home of the Scalable Business Plan and QuikStart Capital Programs
http://www.bizgrowthmasters.com
info@bizgrowthmasters.com
Just wanted to add that LisaPR has the right list for trade credit .........
You are spot on when it comes to applying for trade credit . Anyone wishing to obtain trade credit should apply to what she has listed there... Althought I went about it on me own it did work out , it seems that Lisa and I were both on the same track when it came to acheiving the trades.... Again , anyone wishing to start I`d copy what LisaPR has typed in her box.
Myself I go under Caj Corp ....dealings in owing rental properties. I corp. in August of 07 .
Did apply to the B 2 B .. But I saw much work on me own . And when the time arrives that you need to reach cash monie then I`d say look into one of the programs they have on line , Of building business credit ... best of luck to all ..... One more thing when you have an 80 paydex ......Apply for Dell Im sure they will start you off with a nice size limit . More over , Tiger direct is another good trade credit....
Myself I go under Caj Corp ....dealings in owing rental properties. I corp. in August of 07 .
Did apply to the B 2 B .. But I saw much work on me own . And when the time arrives that you need to reach cash monie then I`d say look into one of the programs they have on line , Of building business credit ... best of luck to all ..... One more thing when you have an 80 paydex ......Apply for Dell Im sure they will start you off with a nice size limit . More over , Tiger direct is another good trade credit....
Caj Corp.RB
businesscreditcoaches.com has tradelines up to $50,000
Danger1999
Say were you telling me about having information of the trade line ?
As for my self , I corp. InJuly 2007 , Since then , the only help I been with is B2B .
There are very helpful when it comes to the trade lines , they aquire 2 trade lines a month .
They could do more but they the Reps are dealing with 80 + clients , So for that reason I did a bit of research on me own , and took it upon my self to get all the trades I can apply too !
There are very helpful when it comes to the trade lines , they aquire 2 trade lines a month .
They could do more but they the Reps are dealing with 80 + clients , So for that reason I did a bit of research on me own , and took it upon my self to get all the trades I can apply too !
Since July with b2b all I got was three trade , I have 13 trades I got on my own. The thing is that .You need to , after you get your Duns # which is for free, Having a Duns number will only state in your file as incomplete, Well thats were the purchase for the credit builder from D&B is a good thing to have , Cos not only will you have an 80 paydex, but at the same time with the purchase of the D&B credit builder they will allow you to add 5 trades and they will look into them before they report. .... So if you are sorted with that , you can get lots of trades and have them added to your D&B on your own.....Just by calling them... without that credit builder from D&B your creditors will always have to read a imcomplete file on you and that wont help matters any ..... If that helped let me know..........After all that , you still can buy into having more trde lines added to you D&B file......The rest takes time .......Lots of luck..!
I have contacted UPS and Fedex. Both said I must use a credit card for 6 months before they allow a real credit account. UPS also said they do not report to credit agencies. Has this changed, or am I doing something wrong?
Hi, Please tell me everything you know about establishing business credit with tradelines. Thank you in advance!
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