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Published By Janet Gershen-Siegel at September 22nd, 2017
Are you looking for 5 vendor accounts that build your business credit? We’ve got them right here. Get the easiest business credit card! Build your fundability. It’s how to build credit fast!
NOTE: This post was updated on June 14, 2021 to reflect newer information!
When you are first starting to build business credit, your first step should be vendor or trade credit. You want to get into good credit habits. So this is everything from not borrowing too much, to paying your debts back on time, to staying on good terms with your sources of credit.
This post answers the question: how do I build up my business credit without using my personal credit?
You will need to start a business credit profile and score with what are called starter vendors. Starter vendors are ones who will give your small business initial credit even if your company has no credit, no score, or no trade lines.
It makes sense to use net 30 accounts to build business credit. Net 30 vendors are far more likely to approve a business, particularly a new one.
Note that most stores like Staples will not give you initial starter credit, so don’t even try applying with them.
Here are 5 business credit vendors that build your business credit. You can get a starter business credit card. This is vendor credit, and these are our top 5 business credit cards for new businesses. They are our best corporate credit cards.
You can find Uline’s website here. This company sells shipping, packing, and industrial supplies. These include janitorial supplies, shipping boxes, and material handling products like hand trucks and dollies. Most importantly, they report to Dun and Bradstreet and Experian.
Therefore, your small business must have a D-U-N-S number before you start trying to get vendor credit with them. For a Uline business account, Uline will ask for two references and a bank reference. Your first few orders might need to be pre-paid to initially so that your company can get approved for Net 30 terms and Uline business credit.
Uline truly is the answer to the question: what is the easiest business credit card to get? It is a terrific way to build a business credit report score.
Check out starter vendor Marathon. Marathon Petroleum Company provides transportation fuels, asphalt, and specialty products throughout the United States. Their comprehensive product line supports commercial, industrial, and retail operations. This card will be on your Dun and Bradstreet Credit Report. It also reports to Experian and Equifax. Before applying for multiple accounts with WEX Fleet cards, make sure to have enough time in between applying so they don’t red-flag your account for fraud.
To qualify, you need:
Your SSN is required for informational purposes. If concerned they will pull your personal credit talk to their credit department before applying. You can give a $500 deposit instead of using a personal guarantee, if in business less than a year. Apply online. Terms are Net 15. Get it here.
You can find Grainger Industrial Supply here. They sell hardware, power tools, pumps and more. They also do fleet maintenance. Grainger reports to D&B. To qualify with your Grainger business credit application, you are going to need the following:
For less than $1000 credit, they will approve nearly anyone with a business license. For over $1,000 credit, they want to see trade and bank references. Fax them your application or apply over the phone.
Supply Works is a great recession vendor. Visit them here. They are a part of the Home Depot. They offer integrated facility management solutions. Virtual addresses are not accepted. They report to Experian. Terms are Net 30.
To qualify, you need to have:
Apply online or over the phone.
Can you get business credit with bad personal credit? Check out 76. Visit them here. The brand’s history traces its original company roots all the way back to Santa Paula, California and Lyman Stewart, a co-founder of Union Oil Company of California. Today 76 is owned by Phillips 66 Company, with more than 1,800 retail fuel sites in the United States. They report to Experian, D&B, and Credit Safe.
In order to qualify for business credit with 76, you will need the following:
You can apply online.
Building business credit also means protecting what you’ve already got. It means regularly reviewing your reports so you know what’s going on with your credit. And it means taking action if there are any mistakes on your business credit report. Being the squeaky wheel pays off here.
Know what is happening with your credit, including vendor credit cards. Make sure it is being reported and deal with any inaccuracies ASAP. Get in the habit of taking a look at credit reports. So dig into the details, not just the scores.
So we can help you monitor business credit at Experian, Equifax, and D&B for 90% less.
Update the details if there are mistakes or the information is incomplete. So at D&B, you can do this at: https://www.dnb.com/duns-number.html.
And at Experian, go to: https://www.experian.com/small-business/business-credit-information.
Finally, for Equifax, go to: https://www.equifax.com/business/small-business.
What’s all this monitoring for? So it’s to challenge any errors in your records. Errors in your credit report(s) can be fixed. But the CRAs normally want you to dispute in a particular way.
Get your PAYDEX report for DNB small business at: https://www.dnb.com/about-us/data-cloud.html.
You can get your company’s Experian report at: https://www.businesscreditfacts.com/pdp.aspx?pg=SearchForm.
And get your Equifax business credit report at: https://www.equifax.com/business/credit-information.
Disputing credit report errors typically means you send a paper letter with copies of any evidence of payment with it. So these are documents like receipts and cancelled checks. But never mail the originals. Always send copies and keep the original copies.
Disputing credit report errors also means you precisely spell out any charges you dispute. Make your dispute letter as understandable as possible. Be specific about the concerns with your report. Use certified mail so that you will have proof that you sent in your dispute.
Dispute your or your company’s Equifax report by following the instructions here: https://www.equifax.com/small-business-faqs/#Dispute-FAQs.
You can dispute errors on your or your business’s Experian report by following the directions here: https://www.experian.com/small-business/business-credit-information.
And D&B’s PAYDEX Customer Service telephone number is here: https://www.dandb.com/glossary/paydex/, to help you with disputes. It’s the only way they’ll let you dispute a DNB.com credit report.
Always use credit responsibly! Don’t borrow more than what you can pay off. So monitor balances and deadlines for payments. Paying off punctually and in full will do more to increase business credit scores than nearly anything else.
Establishing small business credit pays. Great business credit scores help a company get loans. Your lender knows the company can pay its financial obligations. Because they know the small business is authentic. The company’s EIN links to high scores and loan providers won’t feel the need to require a personal guarantee.
These cards will improve your Dun and Bradstreet credit report and more.
And soon you’ll be able to move onto the top ten business credit cards – and beyond!