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  #1  
Old 09-10-2007
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Default Corporation has credit?

Is it true that when you incorporate the corporation will get their own new credit file?
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Old 09-11-2007
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It is easy to start a business, get a DB and add the easy guaranteed businesses that report your credit on your corporation just like your personal credit.

Just need to get your number and go after small credit lines that will accept no paydex scores to open a small credit line like Nuline, Nebs etc ( Mostly office supplie companies )

Corporate credit is the new wave of credit anymore, takes alittle work and organization and in about 60-90 days you will start getting a paydex etc and can start going after bigger accounts.

I have about 15 business account like, Staples, Office Depot, Chevron and Shell Gas, Best Buy, Lowes, Sam Club, Uline, Nebs etc, T Mobile and none of them require a PG. Never accept any business credit that wants a PG.
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Old 09-11-2007
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Okay what is paydex and what is a PG?
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i think PG is personal guarentee
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Old 09-12-2007
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Yes, PG is personal guarantee!

Paydex is the company that is slow as heck in reporting your info so you can have scores just like your FICO scores personally. Eventually they get to it and your score goes up or down according to your payments, debt etc.

I do know the paydex reporting issues. Every single one of my accounts above report and boost my score just like your personal credit. Sure it takes a while and is NOT EASY to do as I mentioned, takes time to build it up to get the better ones, but everyone has to start somewhere. What I said was easy was getting started............

Modee is correct about site inspections etc. Most all corp credit will require you to have a business site/addy ( some require photos or lease agreements etc, phone number ( I use T Mobile for this ) , You have to be listed in 411 or something etc, provide letterheads, accountant info such as profit & loss statements etc.

They will check you out, Lowes for instance will ask for some docs while Staples asked me for nothing.

What I said was easy is getting started, filing and having a business going for a while to get credit, its not a day or week long process. Most of you or us have some business going anyway, you just have to start and build some credit within your corp.

* Biggest thing I see is people who build up corp credit and misuse it and financially overburden themselves with corp debt. This is a huge no - no.

Corp Credit is not for personal use and visa versa.

You have to be able to manage your money, personal and business.

Look up LLC's, there are many advantages of having one. Tax and otherwise.

Research it before you do anything.
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Not all companies ask for PG, many don't even bother if you have some paperwork to prove you are really in business.

I will never PG a business account, if they require or ask, its a no, I dont need your credit then.

PG means that they can come after your personally for a default problem and they will also nail your personal credit report for it.

I will not allow a business to control my personal credit, it is a huge mistake to do so. BEEN THERE DONE THAT !
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Cool. I'm going to copy and past this whole thread in MS word for future reference
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