Business Credit Card lines Lesson 2

Business credit card lines are proud to supply you with lesson 2.

We left off in lesson 1 with you receiving your Articles of Incorporation and your fictitious Business name .Now contact the IRS. Apply for an EIN number using the SS4 form via the internet. This number will identify you to the government for tax purposes.

Once you have the number. Contact DNB for a duns numbers. This number will help your business obtain the credit you are working hard for. The Duns number is like a fico but for businesses. There are a lot of small business owners who have no idea of what this number represents or have not even heard of this Corporation at all. Call dnb request for a free number. The csr will try to up sell you on the credit builder for $300.00 to $500.00 which is a good plan if you have the extra income. This deal will provide you with a number on the spot and several credit reports. That’s all so it’s not necessary to get, when you can do the same work for free. Just tell them you want the free number and it’s for your vendors. Note the number will take several weeks to process.

Now take these documents EIN number, DUNS number, Articles of Incorporation, and your fictitious Business name to your local credit union and establish a Business checking account. I like local credit union because it’s easier to start a working relationship with the branch manager. This contact will be very important in the future when its time to apply for a credit card or line of credit. So every time you make a deposit make it a point to say hi and be seen. Also the credit unions are great because they are not over leverage compared to major banks, which were exposed to the sub prime market. Credit unions are owner by members so the unions are managed better.

This was lesson 2 and stay tune for the next lesson from business credit card lines.

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Business Credit Card Lines have always been a value to small business in the UK and USA. When researching the credit card of your choice. Select a new business credit card that offers several different deals to select from. Credit cards now days are a must when traveling for business or vacations. Even if you want to purchase supplies for your office online you need to use a visa card or paypal account.

First look at your credit status. Which bracket does it fit in Good or Bad? Credit card companies provide the best deals that have good personal or business credit. If good credit is available credit card balance transfers, low interest, gas rewards and cash back incentives are offered.

If your credit score is low try to find the best business card that will approval you. It’s just that simple but be warned you will pay a higher interest rate. When approved for your first credit card. Try not to max out the credit line. Purchase an item and then pay the balance off before the first payment is due. This will let the credit agencies know that your business is not hard up for credit. Once the credit agencies start to reporting on your company. Your business Paydex score will jump up like crazy. This score is like a fico score but for businesses.

If you establish a good credit profile by paying off your account before you carry a balance. Pre Approval applications will start rolling in. Please stay tune  

Business Credit Card lines Basics Lesson 2