Your business credit history must include
Small Bank Loan
Business Credit Cards
Vendor Lines Of Credit
For your business to build strong business credit scores it needs to have 3 business credit cards that report to the national business credit agencies and do not show up on your personal credit files.
Getting approved for business credit cards is a process whereby you must have first completed all 20 of the bank lending compliance items and have vendors credit lines in place that you have verified are reporting. Almost all business credit cards require that your business credit files are already opened and showing a certain amount of reporting history.
A key feature of business credit cards is that they typically carry more weight than vendor lines in the business credit scoring process. Our Business Finance & Credit Building System contains extensive research on business credit cards and includes what they require for approval.
Throughout the business credit building process it is important that you minimize lender inquiries. To do that you need to keep declines to a minimum. How? By knowing what the business credit card issuers require for approval. You need to be prepared before you apply. This is just one of the many benefits of our Business Finance & Credit Building System.
Another benefit of our system is all of the invaluable tips and industry secrets. A credit building tip for business credit cards is that it is important to carry balances that are no more than forty percent of your available credit limits. Going forward you need to maintain a balance of around 30 to 40 percent to optimize your business credit scores.
There are over 500 business credit cards in the United States, but your business needs only three that report. The key is in the reporting. Do you know which business credit cards will report your payment history? If so, do you know what they require for approval? If you apply for business cards on your own, you only increase the likelihood of getting declined. Making sure you know what the lender requires before you apply greatly increases your chances of approval.
You could spend hundreds of hours researching and still not find the wealth of information and instruction inside our Business Finance & Credit Building System. Lenders want to approve your business. Now it is up to you to make that possible.