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pnplawn
02-04-2008, 03:11 PM
Anyone considered trying get Business Credit for your company? I can give you few Ideals that may help you. Try to get Credit cards that do not have your personal Credit attached to them. Per say Office depot They do n ot have personal credit attached to there Commercial Accounts.I know cause I got a Credit Card from them in my Business name alone. Under PNP LAWN CARE. This will start building Company Credit. I will look for more Credit Cards with no Annual Fee like the Office Depo card I have. Let me know what you guys think about this....


Rodman

Steve
02-04-2008, 03:15 PM
Rodman,

Did it matter at all to them how you registered the business? For instance would they only offer a card to a business that was incorporated?

pnplawn
02-04-2008, 03:49 PM
Yes you have to be Corp, and have Federal Tax Id number. They will call you have you fax that information to them. BUT if you can obtain few these cards and use them just little each month pay them off you will build your company credit up.

ABurlison
02-04-2008, 10:07 PM
An LLC or Corp. does seperate yourself from your business, but every application I've seen out there it asks for Personal responsibility, which requires my personal credit to obtain their financing or credit. Do you know how to get around this? Otherwise, who are they really lending to, your business isn't a person of responsibility, which is why I think they require a person attached to the credit. Do you know the process and costs to becoming a LLC?

pnplawn
02-04-2008, 10:29 PM
Quote[/b] (ABurlison @ Feb. 04 2008,11:07)]An LLC or Corp. does seperate yourself from your business, but every application I've seen out there it asks for Personal responsibility, which requires my personal credit to obtain their financing or credit. Do you know how to get around this? Otherwise, who are they really lending to, your business isn't a person of responsibility, which is why I think they require a person attached to the credit. Do you know the process and costs to becoming a LLC?
Like I said! Office Depot does not ask for personal credit . That is a start. I will be looking for others and will advise on this soon as I find them.

pnplawn
02-04-2008, 10:31 PM
Quote[/b] (ABurlison @ Feb. 04 2008,11:07)]An LLC or Corp. does seperate yourself from your business, but every application I've seen out there it asks for Personal responsibility, which requires my personal credit to obtain their financing or credit. Do you know how to get around this? Otherwise, who are they really lending to, your business isn't a person of responsibility, which is why I think they require a person attached to the credit. Do you know the process and costs to becoming a LLC?
Yes but its different from each state. Here in florida I pay tax Account 300 to do mine. Sunbiz.org

ABurlison
02-04-2008, 10:47 PM
Yeah, I know every state is different, just curious the process, or maybe there isn't a process, you just file, designate the people in your organization and their title and pay the fees and your done. *$300, was that a one time fee or monthly?

pnplawn
02-04-2008, 10:50 PM
Quote[/b] (ABurlison @ Feb. 04 2008,11:47)]Yeah, I know every state is different, just curious the process, or maybe there isn't a process, you just file, designate the people in your organization and their title and pay the fees and your done. $300, was that a one time fee or monthly?
one time fee, I have pay 150.00 year to file a Profit Annual Report (& Supplemental Fee)

Steve
02-05-2008, 06:40 AM
I wonder if Home Depot or Lowes offers corporate credit cards as well. I am guessing stores that deal with businesses will be more likely to offer this.



Can you tell us how building credit for your business ultimately helps you? I am sure a lot of people don't know the advantage to this.

ABurlison
02-05-2008, 11:16 PM
I went right on the Office Depot website, and clicked on their Business Credit card and on the application it asks for my SS#, not an EIN #, so is there a different card or something you applied for?

pnplawn
02-06-2008, 07:03 AM
Quote[/b] (ABurlison @ Feb. 06 2008,12:16)]I went right on the Office Depot website, and clicked on their Business Credit card and on the application it asks for my SS#, not an EIN #, so is there a different card or something you applied for?
Its this one! Let me know if you get it.


https://www.accountonline.com/ACQ....pot.com (https://www.accountonline.com/ACQ/RPL/Web/Apply?app=UNSOL&sc=20008&siteId=PLCR_OFFICEDEPOT&langId=EN&SID=WdWLdR3SCJ21j_ipfS2p27x&odserver=www.officedepot.com)

Steve
02-06-2008, 07:32 AM
From the link Rodman provided here is a screen cap of the section he was pointing out.

Rodman,

Can you tell us how building credit for your business ultimately helps you? I am sure a lot of people don't know the advantage to this.

ABurlison
02-06-2008, 07:50 AM
Oh cool, thanks Rodman, I'll check it out after I submit my LLC paperwork and SS-4. I went right to my states website and the irs.gov website and they provide all the paperwork for free to file LLC and corps for the do it yourselfer like myself.

Steve
02-06-2008, 08:16 AM
Andy,

That is great! Keep us posted on your experience of going through and becoming a corporation.

ABurlison
02-13-2008, 07:46 PM
Rodman, what did they give like a $300 credit line, since your business didn't have any established credit?

Yes, I submitted my LLC paperwork this week, so I should have my EIN by next week, so I can start establishing business credit, might need it someday you never know.

ABurlison
02-14-2008, 07:46 PM
Rodman must not get on very often?

pnplawn
02-14-2008, 10:39 PM
Quote[/b] (ABurlison @ Feb. 14 2008,8:46)]Rodman must not get on very often?
Im sorry I have been so busy. Ive been working way more then I used to now that I moved to Orlando. Im not complaing. YES it was 500.00 to start. I got one through Home Depo$500.00, Office Depo $300.00 Mobile Gas credit card for $500.00. doesnt sound like much but its a start to building business credit.

makbootzy
02-15-2008, 09:04 AM
do you need to be a Limited Liability to get business credit? I am just dba for now but would like to start business credit...I do have my EIN already.

UniversityLandscapers
04-10-2008, 02:15 PM
As far as I know, the whole point of a corporation is to give a business the same legal rights as a person, while maintaining it as a seperate entity. They might just be asking for your personal information to either put a name on the card (for signature purposes) or have an actual name for personal contact?

baglady
04-10-2008, 04:52 PM
Staples does it as well. I have gotten Staples and Office Depot. I have been unable to get Home Depot or a gas card. Which gas company did you use to get the card. My credit limit for Staples was $800.00, Office Depot was $250.00.

baglady
04-27-2008, 05:11 PM
Well I had been applying for an Exxon card for awhile. Yesterday finally we were approved. I received the cards in the mail $1,000.00 credit limit. Only used my EIN#. Dont give up just keep applying eventually something will happen. If I could get Home Depot or Lowes I will be set.

Steve
04-27-2008, 07:56 PM
Congratulations! Keep us posted on how all that goes.