Building corporate credit - Posted by Alan

Posted by Frederick Waller on March 13, 2002 at 12:18:22:

I agree with Rob(FL). Credit ratings are developed by paying things off in a timely manner. The only way to develop this, is to have debt to pay off.

I am not sure where this company is coming from guaranteeing that in 90 days, you will have top credit. Some creditors only report every 90 days, so it may take that long just to show something on your credit report.

Give it some time, and you will eventually establish the credit your company deserves

Fred(PA)

Building corporate credit - Posted by Alan

Posted by Alan on March 13, 2002 at 09:50:16:

Hi everyone,
I have recently formed a corporation to do flips out of and I was wondering if anyone out there has a strategy for building corporate credit quickly. I spoke with a company that says they can guarantee top corporate credit in 90 days. I just would like to know if this is possible and does anyone know an effective credit building strategy.
Thank you

Re: Building corporate credit - Posted by Rob FL

Posted by Rob FL on March 13, 2002 at 11:34:30:

First contact Dun & Bradstreet and get a DUNS number. It’s free.

Then apply for some department store credit cards, Home Depot, Lowe’s, Officemax, etc. They will normally give you a card if you personally guarantee them. If you apply for enough of these the junk mail will start showing up and sooner or later you will get applications for a major credit card. After you’ve made a few timely payments on these you will have good corporate credit.