It’s no secret that building business credit is getting harder. Three years ago, it was possible to get $50,000-$150,000 cash credit, with a dormant corporation within 3-6 weeks with a dormant corporation. Getting a paydex of 80 took 2 weeks because many companies offering net 30 accounts were reporting fast.
Now, 3 years later, in 2009, it seems that everyone is trying to make this process difficult. Companies that offer starter accounts want higher purchases to report to the credit bureaus. Some of the companies like Bags and Bowes no longer report. I’m sure they have lost a lot of business. And much of our non-pg cash credit is gone. There are few boys left. Key Bank seems to want a PG for everything.
I was going to keep this little secret, but Key Bank still has an account that doesn’t require a PG and they’re giving good lines of credit. It’s a Key Bank MasterCard, but it’s a Net 30 account. Key doesn’t advertise this account on their website, so you’ll have to call and ask them to fax or email you an application. Many gurus charge hundreds of dollars just for that information.
I have had clients from large companies such as B2B credit and Business Credit Magic without results. These people just rip you off. They assume you don’t know what you’re doing and fool you. I want you to know that you can build business credit on your own. The process is simple. There is no rocket science involved, just go with the process and do it. You start with initial beads; net 30 accounts like quill, uline, and grainger; then you get to your tier 2 accounts like your core products, Office Depot and go from there. It’s a basic thing and you don’t need to pay for the DnB Business Credit Builder. In fact, I show my clients how to get it for free. Yes, you can get a DnB Credit Builder for free. No one else out there shows you this. But since business credit building is increasing, this is actually a better, harder reason for you not to pay for service because you don’t get as much credit as you did a couple of years ago, so you don’t get your investment. .