Is Credit Strong Legit? A Complete Personal and Business Credit Builder Review

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Credit Strong Review

If you’re here, your credit profile might leave something to be desired. So, you’re presumably looking for a way to boost your score. Maybe you want to buy a house or obtain financing for another major purchase in the near future. Or, maybe you own a company, and you need to build out your credit profile to obtain business credit. 

Either way, Credit Strong’s name is floating around in your world, and you’re kicking the tires because you want to know if their offer is legit and helpful (or if it’s just another new gimmick). Here, you’ll find out about both their personal and business credit builder offers.  

This is everything I know about Credit Strong’s big-picture offer — which includes more than typical credit builder loans — so that you can find out if signing up is in your best interest. 

Here’s what we’ll look at: 

Now, let’s get the show on the road. 

What is a Credit Strong Account? 

According to the company website a Credit Strong account is “the first fusion” of savings at an FDIC-insured bank and credit building. In my opinion, this isn’t a super clear value proposition. And, after reading user reviews, I think some account holders who have unsuccessfully tried to leverage the offer would agree. So, what does the company mean when they say “first fusion?”  

Credit Strong reviews

Some users say that the offer appeared in search results when seeking out a loan — it’s crucial to understand that Credit Strong’s credit builder offer is not a traditional loan. So, the generally-expected financing terms don’t apply. 

In a nutshell, Credit Strong provides a way to simultaneously build credit and fund a savings account with four secured-type financial product options:

  1. Revolv. – Add $500 to $1K revolving credit line to your credit profile without a credit card. Send “payments” to a savings account and get them reported to all three major consumer credit bureaus. Withdraw funds when your account is mature or after you cancel. 

Cost: $99 per year, plus monthly account payments

  1. Instal. – Add a $1K or $2.5K installment account to your credit profile. Send “payments” to a savings account and get them reported to all three major consumer credit bureaus. Withdraw funds when your account is mature or after you cancel. 

Cost: $15 or $30 per month, plus monthly account payments.  

  1. Magnum – Add a $5K or $10K installment account to your credit profile. Send “payments” to a savings account and get them reported to all three major consumer credit bureaus. Withdraw funds when your account is mature or after you cancel. This plan can be leveraged by small business owners, with no EIN, who want to establish a larger credit line.

Cost: $55 or $110 per month, plus account payments

  1. Business – Build $2.5K, $5K, or $10K of commercial credit. Send “payments” to a savings account and get them reported to all three major consumer credit bureaus. Withdraw funds when your account is mature or after you cancel. You’ll need an EIN to open a business account.

Cost: $149 to $749 account setup fee, and $100 to $440 per month

Note: The business offer is not easily found on Credit Strong’s website main navigation — You can find more information here. 

How Does Credit Strong Work? 

Credit strong accounts establish a credit line on your consumer credit profile without a loan or credit card. When you make monthly payments on time, they are reported as “pays as agreed,” to the credit bureaus. In the meantime, those payments go into an escrow account that you may withdraw from later — this offer gives you a chance to save money while building your credit. 

Credit Strong reviews MyFico

Funds saved in a Credit Strong account may be withdrawn if you choose to cancel your account. But, if you withdraw before the end of the amortization period (10 years on standard personal installment accounts), you will still have to pay the interest owed. 

This is standard with most credit builder financial offers and Credit Strong is transparent about amortization schedules. 

Credit Strong Terms & Fees

Here’s a breakdown of the fee structure for Credit Strong’s personal and business accounts. 

Personal Terms & Fees

Credit Strong’s personal account cost structure seems to be unpopular with many users who have canceled their accounts. 

Credit Strong reviews BBB

These unsatisfied users tend to expect traditional loans or traditional savings offers. But, what they’re actually getting is something different: a distinctive “credit-builder” offer with an escrow account. Many credit builder loans and secured credit cards come with high fees, as with most products and services designed for individuals with poor credit. 

Here’s a breakdown of terms & fees for personal Credit Strong accounts: 

Credit Strong Account Terms & Fees

If you have a difficult time saving money on your own and need to diversify the type of accounts on your credit profile to boost your score, a credit builder option like this can help. Expectedly, you will be charged for the service. 

After looking at the offer from a bird’s eye view, an Instal. account doesn’t seem like a good idea to me, simply because the standard loan term is 10 years, and payments toward savings are amortized. So, if you open an installment loan with Credit Strong, it could take a decade to save $1K to $2.5K — And, in the end, you will pay quite a bit to make it happen. With that said, you can always make additional payments to fulfill the terms early and save on interest (plus, Credit Strong does not charge prepayment penalties). 

Business Terms & Fees

There are two fee options with Credit Strong’s business offer: (1) with interest or (2) without interest. 

Of course, the interest accounts end up costing more than the no-interest accounts, but the initial account setup fees are lower than the latter. So, if you have the cash to pay the fees upfront, it’s best to go with the interest-free option. 

Here’s an overview of Credit Strong’s business terms & fees:

Credit Strong Business Terms & Fees

By the end of two years and one month, if you pay as agreed, you could have up to $10K in savings with a Credit Strong™ business account.  

Note that with the interest business accounts, payments are split between interest and “principal,” which means you’ll probably pay more toward the interest you owe during the first ¼ of your loan term. Toward the end of the terms, more of your payments will be applied toward principal — this is called amortization and is how most installment loans work.  

Credit Strong Account Requirements

To apply for a Credit Strong account, you should meet specific minimum requirements: 

Personal Requirements

To qualify for a personal Credit Strong account, you must meet the following requirements: 

  • US resident with a physical US address (other than Vermont & Wisconsin)
  • Valid SSN or ITIN (individual taxpayer ID)
  • Good-standing checking account, debit card, or prepaid card 
  • Working mobile phone number or Google Voice account
  • Valid email address

Credit Strong will not use a credit pull or consider your income to determine eligibility for an account — basically, they only need to properly identify who you are and where you live. 

Business Requirements

To qualify for a business Credit Strong account, you and your company need to meet certain requirements. 

Individual requirements are as follows: 

  • At least 18 years of age and a permanent US resident
  • US resident with a physical US address
  • At least 25% ownership in the company
  • No other co-owners that individually own 25% or more of the company
  • Valid SSN or ITIN
  • Valid, state-issued identification 

And, here are the company requirements: 

  • Registered EIN
  • At least 3 months since the business was legally established
  • LLC., Partnership, or Corporation
  • Located in the US with a valid, physical business address

Additionally, you must not take part in any prohibited business activities. 

Frequently Asked Questions

Does Credit Strong Raise Your Credit Score?

Credit Strong’s offer gets mixed reviews. Depending on why a credit score is low, on-time payments on a Credit Score account may improve account holders’ credit scores by reporting on-time payments to credit bureaus. However, unpaid accounts can be reported as delinquent. So, it is only one piece of the credit-building puzzle. 

Does Credit Strong do a hard pull?

Credit Strong vs Self vs Kikoff

No, Credit Strong does not do a hard pull to the applicants’ credit to approve accounts. So, if you apply for an account (so long as you make responsible payments) your credit score is safe. 

Is Credit Strong a tradeline?

If you open a Credit Strong Business account, you can establish a financial tradeline in the form of a secured (pre-paid) installment loan. However, the company doesn’t yet report to business credit bureaus but does claim that they plan to in the future.  

Does Credit Strong report to Dun & Bradstreet?

As of September 2022, Credit Strong does not report to Dun & Bradstreet (D&B) or any other business credit bureaus. The company reports to consumer credit bureaus Equifax and Paynet and claims that they do plan to eventually include Experian, D&B, and SBFE. So, the only way that Credit Strong might help build business credit currently is through helping to improve a business owner’s personal credit score and fund their savings account up to $10K. 

It takes a bit of work, and specific qualifications for lenders to report to business credit bureaus. So, I choose to be optimistic and assume Credit Strong is working on building its user base to meet these requirements,  and that they will start reporting to the business bureaus soon. 

How many points does Credit Strong give you?

How many points do you get from Credit Strong?

The number of points your credit score will increase with Credit Strong’s offer depends on the account holder’s current credit profile and their ability to make on-time payments on their account. There are several factors that influence credit scores: 

  • Payment history
  • Amounts owed & utilization
  • Length of credit history
  • New credit applications (inquiries/hard pulls)
  • Types of credit used

So, Credit Strong is merely a tool that can be used to build credit, but must be part of a comprehensive strategy — I recommend Credit Secrets for credit-building advice. 

What happens if you stop paying Credit Strong?

If you stop paying Credit Strong as agreed, they can report negative information to credit bureaus. However, you may terminate your account at any time with no fees or prepayment penalties.

If you stop paying because your account terms are fulfilled, you can either leave your money in the savings account to accrue interest or transfer the funds to your bank account — getting your money from Credit Strong can take about a week. 

Credit Strong Company Overview

Credit Strong was launched in 2019, so the offer is pretty new. However, the parent company, Austin Capital Bank, has been around for a decade and a half, since 2006. Austin Capital Bank is a trusted community bank in Austin, Texas. 

Who owns Credit Strong?

The bank’s founder and CEO, Erik Beguin, was previously a member of the Federal Reserve Board in Washington DC and served as a Chairman for the Federal Reserve Bank of Dallas before that, so he definitely knows finance. 

Credit Strong Competitors: Side-by-Side Comparison With Self & Kikoff

Here’s a quick view of how Credit Strong, Self, and Kikoff compare, side-by-side, as accounts that build credit.

Credit Strong vs Self vs Kikoff

Credit Strong, Self, and Kikoff have credit builder offers that report payments to consumer credit bureaus with no hard pull to the applicant’s credit report. And, each of them offers an escrow/savings account. 

None of the above companies report payments to any business credit bureaus, but Credit Strong promises that they will in the future. 

Credit Strong is the only company, from the list above, that has an offer for businesses, and their account options are quite a bit more robust than the other two. Furthermore, they have more options for larger accounts. Nevertheless, the offers from Self and Kikoff might be better for individuals that would prefer a simple setup. 

Credit Strong reviews Reddit

While these competitors seem to get the most interest in the credit builder and savings space, they are not your only options for credit builder loans or savings offers. Before you sign up for a Credit Strong account, I recommend you research offers from local community banks, such as a shared-secured loan, secured credit cards, and Individual Development Accounts (IDAs or “matched savings”) before you commit to anything new and shiny. 

Recommended: 3 Best Credit Unions for Small Business Banking 

For those considering an individual credit builder offer, I feel like I should answer some general and more fundamental questions before I wrap up. But, if you’re a company owner exploring Credit Strong’s business offer, you might want to skip to the end. 

What is considered a good credit score?

A FICO score between 670 to 739 is considered “good.” 

What is an excellent credit score?

A FICO score of 800 and up is considered “excellent.”

How long does it take to build credit to 700?

The duration that it takes to increase a credit score to 700 depends on the individual’s existing credit profile and the tactics used. It can take from 60 days to several years to boost a score into this range.  

How can you raise your credit score by 200 points in 30 days?

If you paid your credit down to utilization in the 30% range or lower, optimized your debt-to-income ratio, and had always made on-time payments to diverse accounts, it’s possible you could raise your credit score by 200 points in 30 days. But, this answer is highly broad — it could take some people many years to grow their score by 200 points, and others might be able to do it by removing discrepancies from their credit report (which can be done in 30 days).  

How long does it take to build credit from 500?

Many people build credit from 500 within a few months. Again, this answer varies from credit profile to credit profile. 

How fast can you build credit?

You can build credit in as little as 30 days, which is how long it takes most reporters to notify credit bureaus of changes to a credit profile (including payments made). 

How fast can you rebuild credit?

If you have a smart strategy and funds, and your profile isn’t too messy, you can rebuild your credit in a month, but it often takes longer. 

How can you raise your credit score in 90 days?

The best way to raise your credit score is to make on-time payments to all lenders, keep your utilization below 30%, and include a diverse array of accounts (revolving, installment, etc.). You should also monitor your credit report to watch for discrepancies and mistakes, and report them when they arise. 

How long does it take to build credit to buy a house?

To buy a house, the credit score needed varies from lender to lender. It could take a few months or a few years to build a credit score high enough to qualify for a mortgage. 

Recommended: Credit Secrets Book Review: Can You Erase Bad Credit History? 

Conclusion: Is Credit Strong Legitimate? 

From my research, I gather that Credit Strong is absolutely a legitimate company with an honest offer, which is intended to simultaneously build credit and savings. Secured loans and lines of credit are often used to build credit while savings are difficult for some people to manage on their own, so it’s natural that an offer like this would exist. 

While there is a wave of poor Credit Strong reviews flooding the web, these seem to primarily come from account holders who did not understand the offer when they applied. 

This tells me that the company might be better off if they clarify the details upfront, for those who might not understand what they’re signing up for. While I found Credit Strong to be pretty transparent, I can see how someone without a lot of credit-building knowledge would have a contrary opinion. 

With that said, since they don’t yet report on-time payments to business credit bureaus, I don’t consider Credit Strong to be a particularly powerful offer to build business credit, but I look forward to watching that side of their offer evolve.

Now, if you’ve made it this far into this review, you should understand everything you need to decide whether the offer is right for your situation. Do you want to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today.

AtoB Business Gas Card Review: Is it Really a Superior Fleet Card?

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AtoB business gas card review

I have not used this card myself, but AtoB has been coming up in conversations about building business credit for over a year now. People in my network are giving the card and the company rave reviews. So, I had to find out what was up for myself. Now that I know, I definitely want to share this offer with readers.  

Here, learn everything you need to know about an AtoB business fuel card: overview, benefits, highlights, and application process (there’s even a bit of info about bonus offers from AtoB). 

Here’s the breakdown: 

Now, learn what this offer has in store.  

What is the AtoB Gas Card? 

AtoB offers a business “fleet card” for companies that would like to buy now and pay later for fuel and automotive services. In addition, the card offers bonuses like discounts up to 25 cents per gallon (determined by the underwriting team upon approval) on gas… and it’s free — zero fees.  

Fleet cards aren’t just for business owners, but for anyone who drives for your company. So, you can request multiple cards and provide one for each driver. 

The AtoB card is different from a typical credit card in that you don’t make minimum monthly payments. Instead, the terms are net 7 (you pay the card in full every week). 

I heard that AtoB offers net 7 terms (true) — this means cardholders are expected to pay their balance in full every 7 days — and that these terms could be expanded to net 14. While there might have been an offer to extend payment terms in the past, this is not the case. As of today, according to an AtoB sales rep, the only available terms are net 7.  

AtoB gas card reviews

Finally, their offer is geared toward but is not limited to serving the trucking and logistics industry, which is natural since trucking and logistics companies have the largest fleets. 

Where is AtoB Located? 

Celegans Labs, Inc., the name of AtoB’s parent company, is located in San Francisco, California, at Four Embarcadero Centre, Suite 1400. Their company actually does business from Carr Workplaces, a co-working space off Mission Street — a building about 8 blocks from Oracle Park (makes me wonder if they’re Giants fans). 

Who Owns AtoB Fuel Card? 

AtoB was founded in 2019 (not very long ago!) by Harshita Arora, Tushar Misra, and Vignan Velivela. Collectively, they seem to be a brilliant tech team. 

Harshita Arora, AtoB Co-Founder
Harshita Arora
Tushar Misra, Co-Founder of AtoB
Tushar Misra
Vignan Velivela, Co-Founder & CEO of AtoB
Vignan Velivela

Harshita Arora is a backend software engineer who previously founded Harshita apps, the company that built Crypto Price Tracker, which was acquired a few years back. 

Before AtoB, Tushar Misra attempted to build a decentralized charging station network for lighter-than-car vehicles as the CEO and Founder of Grido. In the course of fewer than 18 months, the company scaled to five cities in the US and Mexico before it looks like they closed the shop.

Vignan Velivela, AtoB’s current CEO, is a Carnegie Mellon graduate. And, before this venture, he worked full-time as a software engineer at Cruise (he created motion-planning software for self-driving cars).  

AtoB Fuel Card Highlights (Beyond Savings & Ease)

In addition to the savings (up to 25 cents per gallon) on fuel and the ease of making one fuel payment for multiple drivers, AtoB has some pretty impressive features and benefits. Take a look: 

1. It’s Completely Free… Really

The key benefit of an AtoB card is that it is free for qualified businesses. Most business gas cards charge monthly fees and interest. Not to mention, AtoB’s maximum savings are at least double that of any card I’ve ever heard of. 

If it’s Free, How Does the AtoB Fuel Card Make Money? 

Most fleet cards earn money with merchant rebates — essentially asking the merchant for a rebate each time a driver pays for fuel with their card. In AtoB’s case, where they offer up to 5% savings, rebates would have to be loftier than that. And, traditionally, merchant rebates range between 1-4%. 

According to a Buzzfile report on the company, AtoB generated just above a quarter million dollars in 2019 (this isn’t much for a company that now has at least 158 employees). 

AtoB Fuel Card Reviews

Someone told me that they believed AtoB had halted operations because of changing market conditions. As of today, September 2022, this rumor is false, and AtoB is still in operation — the business is very much alive and well. Any sluggish business in recent months could have had something to do with the funding round that just took place. 

After some digging, I found that AtoB has received a total of $257 million from 5 funding rounds since August 2020. Most recently, they announced another $75 million raised on August 16, 2022. And, with the founders’ tech background, I would wager that the majority of future profits will come from their software offer. 

Furthermore, AtoB has additional offers that generate revenue. 

Extra Offers From AtoB

Complementary to the zero-fee gas card offer, which certainly stands out, AtoB has other offers within its platform. 

  • AtoB Plus – Paid, subscription-based offers for added benefits. 
  • AtoB Wallet – Stripe-powered digital wallet. 
  • AtoB Payroll – In-app W2 and 1099 payroll platform.  
  • AtoB Factor – Invoice factoring for outstanding earnings (partner offer).

If any of these interest you, I encourage you to look into them — for non-cardholders, see AtoB’s terms & conditions to learn more.  

2. Get On-Time Payments Reported to Experian Business

Anyone building business credit will want to check out AtoB’s full offer when they find out that they report on-time payments to Experian Business every 30 days. 

Does A to B fuel card report to credit bureaus?

Several fuel cards do this — In fact, there are at least a dozen or so business gas cards that report on-time payments to credit bureaus (but, you don’t see me sharing full reviews about all of them, do you?).  

3. It’s Universal: Use Your Card Anywhere Visa is Accepted 

Many, if not most business gas cards are limited to specific, in-network gas stations. AtoB has eliminated that headache and can be used at any station that accepts Visa.  

AtoB fuel card reddit

Full disclosure: AtoB is not the only fuel card that does this. For instance, Comdata has a Mastercard, and Wex has some universal options — they have at least 30 small business gas card offers with various terms. 

4. See the Best Nearby Stations to Buy Fuel 

With the AtoB Driver mobile app, anyone can find the best in-network fuel savings in their area, even when they’re on the go — And, the in-app directory includes the fuel grade at each location, to make thoroughly-informed decisions. 

Where can I use atob gas card?

5. Use Your Card to Pay Insurance, Maintenance, Tolls, & More

Most fuel fleet cards offer variable savings on fuel for every gallon purchased. AtoB offers more savings. In addition, they offer business owners the option to opt-in to use your cards on other purchases

So, if you choose, you’ll be able to unlock the ability to use your card(s) to pay auto insurance, vehicle maintenance, bridge & interstate tolls, and other business costs. 

6. Control Spending to Prevent Card Misuse

According to a US fraud report from Shell, 86% of Fleet managers think that drivers’ card misuse results in 30 cents per gallon or 10% in added costs. And, AtoB has used this statistic to power their strategy, add security features to their offer, and to provide a savings prediction for businesses.   

A to B fuel card discounts

So, you’ll not only save via instant discounts but also prevent card misuse for up to 10% savings on gas costs. 

Here’s How to Apply for an AtoB Gas Card

AtoB fuel card application

If you’re ready to apply, head over to AtoB.com, and click Get Started.

The application asks for basic contact info, company info, financial information, and your business location. You’ll have to be a legitimate business owner with an EIN to complete the online form. You’ll also need to share your weekly fuel spend and the number of vehicles you have, along with how many cards you need. And, you’ll need to upload a copy of your driver’s license.  

You can either link your business bank account or upload your three most recent business checking account statements. If you try to use a personal checking account, you won’t be able to proceed. 

A to B fuel card application financial information

Before you submit, you’ll have a chance to review the application info you entered. Once your email is confirmed, AtoB will review your information and get back to you within 5-7 business days (that is, according to the website — the sales rep I spoke with said it could take up to 14 days for a decision). 

AtoB fuel card requirements

While they state in their terms & conditions that they reserve the right to pull consumer credit, AtoB does not ask for a social security number during the application process. 

The Secured Card Option From AtoB

Business owners with lower, provable business income may qualify for a secured card (you put money into your account, and refill your fund balance as you go). While secured cards aren’t typically recommended — traditional secured card fees are just too high — this one is free and comes with most of the benefits AtoB offers. 

So, if you are unsure about your ability to qualify for a tradeline, this might still be an offer worth looking into. You be the judge.   

Answers to Related Questions

Will a gas card help build credit?

Many fuel cards report payment activity to credit bureaus, which can help build out the cardholder’s credit profile and, in turn, build credit. Fleet cards (business gas cards) often report on-time payments to D&B, Experian Business, and/or Equifax Business. So, yes, responsible payments made toward a balance on a gas card can help build credit.

Is there a “universal gas card?”

AtoB Fuel Card

Universal gas cards aren’t limited to in-network fuel purchases. There are universal cards. AtoB, for example, can be used anywhere Visa is accepted. And, companies like Comdata and Wex have universal options. 

Is fuel cheaper with a fuel card?

When used at discount locations, which vary from card to card, fuel cards enable the cardholder to save on the price per gallon of gas. AtoB offers savings of up to 25 cents per gallon at select locations and up to 5 cents per gallon universally.  Some fuel cards offer “cash price” or better at select stations.

What fuel card can be used anywhere?

Several fuel cards can be used anywhere. Any card with a Visa or Mastercard logo can be used wherever these types of payments are accepted. AtoB is a universal Visa card, Comdata offers a Mastercard, and Wex has a handful of universal card options. 

What business gas card is easiest to get?

Any secured business gas card is easy to get because you can fund the account with your own cash (and still take advantage of card benefits). Some secured cards come with high fees. AtoB, however, offers a free, secured business gas card to those who might not qualify for net 7 terms at the gate. Over time, most secured cards can be upgraded to more traditional credit terms.      

How do I apply for a gas card?

To apply for a gas card, 99% of the time, you can visit the website of the card you want and apply online. There may be some cases where you must file a paper application. Review a business credit application template to see what you might expect. 

Final Thoughts

In addition to the features and benefits already listed above, I love that AtoB, as a company, is so transparent — they’re not trying to hide anything (as far as I can tell), and their offer stands out from every competitor that I know of. 

If you’re in the market for a fleet card, I recommend you do more research on AtoB, and consider their offer. It seems to be a hit! Before you do, take a look at our list of gas cards that report to business credit bureaus.   

Would you like to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today.

Free, Printable Business Credit Application Template (Plus, How to Use it Correctly)

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Download Your Free, Business Credit Application Template

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*This template is intended for informational purposes. All legal documents should be reviewed by an attorney before use, and terms should be defined to protect you in the event of default.  

Download your free, printable business credit application template so you can extend credit to your customers, or just find out what a business credit application looks like.

Business Credit Workshop coaching students get access to hundreds of actual business credit applications used by banks across the US.

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Most of the time, we focus on ways to improve credit profiles and obtain business credit. But, many of our readers, members, and students run B2B operations that serve other businesses. So, it’s crucial that we understand the ins and outs of extending credit to our business clients and customers… when the opportunity arises. 

If you offer your business customers the chance to buy now and pay later, you open a portal to attract more high-ticket sales from those that might not otherwise be able to afford a product or service in a single payment. Plus, by extending lines of credit or private tradelines, you can increase total profits by way of interest and fees. 

Or, if you’re just curious about what to expect when you start applying for business credit yourself, this information (and the downloads above) can be helpful.

Here, I provide a breakdown of the essential elements of a business credit application. Finally, I’ll answer some frequently asked questions and provide guidance for new creditors, including options to create online business credit application forms.  

Now, let’s get cracking.

What is a Business Credit Application? 

A business credit application is a form that enables a registered entity to apply for a line of credit, term loan, revolving tradeline, or a private net 30 account. It collects identifiable information about the business to determine its creditworthiness. 

What is a business credit application form? - A form that enables a business entity to share identifiable information in order to apply for a line of credit, term loan, revolving credit, or net 30 account.

A business credit application serves dual purposes: 

  1. Gather personal, business, and financial data about the applicant
  2. Serve as a contract between the applicant and creditor

A credit application is considered a legal document, as it should ask for the applicant’s signature. Hence, once signed, and if all terms and conditions are properly outlined in the document, it is legally binding. 

Any company that extends credit to their customers needs an application form to weed out those who would not be eligible for any type of financing. 

Fundamentals of a Business Credit Application

What do you write on a credit application? - Contact information, Company information, Bank references, Trade references, Financial information, Terms of the contract, Applicant authorization

To make an informed determination whether or not a company is worthy of business credit, you need specific identifying information. 

  • Contact Information
    • Full Name
    • Professional Title 
    • % Ownership in Business (Most creditors require at least 50%)
    • Company Name
    • Tax ID or SSN
    • Personal Address (Street, City, State, Zip)
    • Business Phone Number
    • Business Email Address
  • Company Information
    • Type of Business
    • Years in Operation or Business Start Date
    • Business Address (Street, City, State, Zip)
    • Legal Entity Type (Proprietorship, Partnership, LLC, Corporation)
    • State Registered in
    • If DBA or Subsidiary, Parent Company Name & Business Start Date
    • Name of Principal Responsible  
    • Principal’s Address (Street, City, State, Zip) & Phone Number
    • Name of any Co-Principal Responsible (optional)
    • Co-Principal’s Address (Street, City, State, Zip) & Phone Number 
  • Bank References
    • Checking Account (Bank Name, Account No., Contact Info)
    • Savings Account (Bank Name, Account No., Contact Info)
    • Credit Line (Bank Name, Revolving/Term, Account No., Contact Info)
  • Trade References (Most creditors ask for at least three)
    • Company Name
    • Contact Name
    • Company Address
    • Company Phone Number
    • Account Age or Account Open Since
    • Credit Limit 
    • Current Balance
  • Financial Information
    • Amount of Credit Requested
    • Total Business Assets
    • Total Business Liabilities
    • Annual Net Income
    • Yes or No: Have Any Officers Filed a Bankruptcy Petition?
    • Yes or No: Is Your Company Subject to Any Litigation? (+Explanation)
  • Contract Terms
    • Terms of use
    • Interest and Fees
    • Penalties for Noncompliance
    • Additional Forms Required (Articles of Organization, etc.)
    • Disclosure of Credit Pull 
  • Applicant Authorization
    • Applicant Full Name
    • Legal Business Name
    • Applicant Signature & Date Signed

(and/or)

  • Company Seal & Date Stamped

Once the applicant has submitted their app– assuming it appears they have what it takes, and that you would extend them credit — you’ll need to verify their information and move through the rest of the process.  

Here’s How to Create an Online Credit Application Form

In place of or in addition to a paper, pdf, spreadsheet, or doc application, you might want to offer your customers the option to fill out an online credit application form(this is super helpful, especially when applicants are not local). 

So, here’s the scoop. There are multiple ways to create online forms, but here’s what I recommend. 

i. Use Google Forms

Google Forms

Google Forms has a straightforward user interface and simple design. While it’s not super customizable, it will get the job done, and it’s free for Google Workspace users — both free, personal accounts and business accounts.  

ii. Use Jotform

Jotform

Jotform is another option — super easy to use — that is free for up to 5 forms and 100 monthly submissions. It’s more customizable than Google forms, with integrations with other platforms you might use like PayPal, Google Sheets, Adobe Sign, and HubSpot. It can cost up to $99 per month, depending on your usage  

iii. Use Your Website’s Form Builder

If you’re already collecting customer information via contact or subscribe forms on your website, you likely have a form builder that you use. You can probably get into your website dashboard and whip something up based on what you’ve learned here. 

There are many other options out there to help you offer an online application — I’ve just found these to be the simplest to use and most reliable.

How Should You Ask a Customer to Fill Out a Credit Application? 

If you’re eager to extend credit to customers — perhaps you want to use your credit offer as a highlight to make more sales — you can include your credit option at checkout (in-person or online) or during the sales process, depending on how your operations run. 

Service businesses might want to mention their credit application in proposals or bids — at the point just before the sale is made or earlier.  

I also recommend that you bookmark or download our trade reference request template and cover letter template (or create your own), because you can share them with your applicants to help them provide you with more information. Then, you can better determine if they meet your requirements for a credit account.

Recommended Reading: Trade References: Learn Everything You Need to Know

Don’t Forget to Do These 3 Things When You Offer Credit to Your Customers

Here are a few tasty reminders with a helping of details for you to munch on. 

1. Do Your Due Diligence and Be Selective

The application form is only the first part of a credit application. If you are going to extend credit to your business customers, it’s so important to make sure that you verify everything that the applicant tells you. 

Double-check credit report information with Dun & Bradstreet (D&B), Experian Business, and Equifax Business. Pull personal credit reports if you’re wary. Call the references applicants list on their app. Be 100% sure that someone is honest and qualified before you trust anyone in a buy now, pay later situation.  

How to Pull a Business Credit Report From D&B

To get a full D&B credit report and PAYDEX Score, visit D&B’s website and select your plan. It will cost from $61.99 to $799 per year, depending on how many reports you will need. 

Request D&B business credit report

How to Pull a Credit Report From Experian Business

To obtain an Experian Business credit report, go to Experian’s website, search for the business (be sure to select Other Business), and choose whether you would like a one-time report for $39.95 or $1,495 to $1,995 per year (for anyone who needs more than three reports monthly). 

Request Experian business credit report

How to Pull a Credit Report From Equifax Business

To receive an Equifax Business credit report, visit Equifax’s website and fill out the contact form on the Small Business Credit Report page to connect with the sales team — they can hook you up with the right plan. 

Request Equifax business credit report

2. Consider Reporting Payments to Business Credit Bureaus

As a courtesy to your customers and other creditors, consider reporting on-time payments to the business credit bureaus. Doing so will help your customers establish and grow their business credit profile, and can be a selling point that places you ahead of your competitors.  

Furthermore, reporting slow, late, or missed payments help protect other businesses (like yours) from disreputable companies that tend to stiff their creditors on payments. 

So, you might want to consider reporting on-time payments to D&B, Experian Business, Equifax Business, and Creditsafe — this typically requires that you join their trade exchange programs. 

How to Report On-Time Payments to D&B

To report account activity to D&B, you must either be a part of their DNBi or PPP programs or join the trade Exchange Program. To sign up for D&B’s Trade Exchange Program, you need at least 300 active credit customers.  

To apply, either visit D&B’s website or call 1-844-201-9144 to speak to your relationship manager. 

How to Report On-Time Payments to Experian Business

Experian doesn’t charge creditors for reporting, but they have requirements such as, members must report a full portfolio monthly. To become an Experian reporting partner, shoot an email to bisdatareporting@experian.com.

How to Report On-Time Payments to Equifax Business

You can register to report payments to Equifax via the registration page on their website or by calling 1-800-831-5614 (Select option three to speak to the correct department). 

How to Report On-Time Payments to Creditsafe

Creditsafe is not the most popular business credit reporting solution, and will never hold more weight than one of the primary bureaus. Still, third-party data continues to become more and more desirable to creditors. So, after you pull an Experian Business or Equifax Business credit report, you might also pull from Creditsafe. 

Why I mention them here, is because you can join their Trade Exchange Program a bit easier than the other bureaus… and they can automate reporting through your accounting software. Here’s how to leverage the program: 

  1. Claim your company on Creditsafe’s directory
  2. Login to your Creditsafe account
  3. Authorize your accounting or ERP software

Many popular accounting tools will easily integrate (Xero, Quickbooks, and Freshbooks, to name a few). If the platform doesn’t integrate with your software, or if you don’t use accounting software, you can still manually report. 

3. Enlist a Third-Party App or Platform to Manage Your Credit Program (At Least Think About it)

If the sole reason you want to offer business credit is to get more high-ticket sales, and you have no desire to earn income from fees and interest, explore your options for third-party credit offers, since they will make your job so much easier. 

Affirm for small business

Your choices vary greatly and depend on your business offer. For example, check out Affirm, Klarna, and Afterpay to see if your business might qualify to offer customers their buy now pay later terms — if so, they will do everything for you. 

If you do want to manage your credit program, it’s a good idea to explore debt collection offers so that you might outsource that portion of your work (I can almost guarantee you will have to collect on missed payments at some point). 

Summary

To extend business credit to your customers, you can use the business credit application template at the top of this page to get started — note that all legal documents should be reviewed by an attorney. And, printable applications are great, but so are online applications. 

If you’re just starting down the path to offering business credit to your customers, remember to do your due diligence and verify everything on the application. Think about reporting on-time payments to business credit bureaus. And, consider enlisting help from third parties (if you can find an offer that meets your needs). 

Do you have a customer or client who didn’t quite meet the mark and got rejected for a line of credit through your program? Invite them to join Business Credit Workshop to learn how to boost their business credit score and obtain up to $100K in business credit in as few as 30 days.

Business Credit Repair: How to Get Your Business Credit Back on Track 

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business credit repair

Since you’re interested in repairing your business credit, I’ll assume that you had a good credit score at one point. Now, for one reason or another, it has taken a hit (If that’s not the case, and you haven’t established credit yet, you might want to start here). 

First of all, if your business credit is not so great, don’t beat yourself up — it happens more than you would think. 

Don’t believe me? According to US Courts, in 2021, a total of 14,347 businesses filed bankruptcy in 2021. If you think this might have been a COVID-related spike, think again — the same source cites 23,157 business bankruptcy filings in 2017, a couple of years before the pandemic began. 

But, I don’t want you to focus too long on anything negative. Instead, let’s be solution-oriented and explore how business credit repair works. 

Bear in mind that business credit is not the same as personal credit and some of the laws protecting consumers don’t apply, which isn’t necessarily a bad thing. In fact, business credit is much easier and faster to restore than personal credit. 

This is what’s in store: 

Now, here’s everything you need to know to restore your business credit. 

What is Business Credit Repair? 

Business credit repair or restoration typically refers to a third-party service that attempts to get negative information, like missed or late payments and defaulted accounts, removed from business credit reports in exchange for a payment. 

How do I repair my business credit?

A business might have a net 30 account on their report that shows as a late or slow pay that they want to clear up. Or, maybe they need to remove an old address from the credit bureau’s record. Business credit repair organizations might offer a service to help for a monthly or one-time fee in addition to any settlement offers they submit to creditors. 

Luckily, in most cases, these services are not needed. You can easily restore business credit on your own, which is the primary focus of this guide. 

The Golden Rule of Good Credit 

Whether you’re talking about business or personal finance, here’s the golden rule of good credit: Make your payments to lenders on-time, as agreed. 

While this may seem too obvious, it’s crucial. If you make your payments to lenders as agreed, you are very likely to maintain a high credit score. 

So, when life gets in the way, and you can’t make business loan and credit card payments like you expected, stay in communication with your lenders. As soon as you think you might miss a payment, pick up the phone and reach out to ask about your options. 

If you’re reading this early, at the first sign that your credit is about to slip — you never know — the above advice might be enough to keep you afloat while you figure out your finances. 

If you’re already sitting on a low business credit score, it’s time to take action.  

8 Steps to Repair Your Business Credit

Here’s the process, step-by-step, to restore your business credit. 

1. Review Your Business Credit Reports

The first thing you need to do when restoring your business credit is get an up-to-date copy of each of your credit reports from the business credit bureaus. 

There are three main business credit bureaus that most lenders will use to determine whether or not your company is worthy of financing. 

Get a copy of your report from each bureau: 

  1. Dun & Bradstreet: Access your PAYDEX report 
  2. Experian Business: Get your Experian business credit report 
  3. Equifax Business: Obtain your Equifax business credit report

Download or print copies of each report so you can thoroughly review for accuracy. 

Fast credit repair

You may be able to obtain copies of your business credit report at no cost if you have recently been denied financing. Within 90 days of your denial, mail a request to the creditor and ask that they send a copy of your business credit report to you. 

Set up a free account with Nav to access and monitor your Experian and Dun & Bradstreet business credit summaries. 

Note: In addition to these three bureaus, I have heard of a couple of outliers here and there. But, I don’t recommend you pay them any attention (unless you are getting denials after cleaning up the main 3). Every business credit lender I’ve ever worked with has used one of the above to determine a company’s creditworthiness. 

Recommended: How to Check Your Business Credit Score

2. Note Every Item You Want Removed From Each Report

The more organized you are at this stage, the better. Examine every potentially negative item on your report and read through your company details for inaccuracies. 

Incorrect and negative information on your business credit report not only decreases your chances of obtaining financing, but adds additional hurdles. For example, you might pay higher insurance premiums, be charged higher interest rates on the funds you do receive, and find it difficult to rent equipment or office/retail space because of a mistake on one of your reports. 

Experian credit repair

Look for any slow or late payments on your accounts that might affect your score. In addition, look for old business addresses or outdated contact information that you would like removed. 

For each report, list each item that you would like reviewed for removal. Include the following: 

  • The account number
  • The date of the disputed information
  • Explanation of the inaccuracy
  • Company that provided the disputed information
  • Type of disputed information (contact, missed/late payment, etc.)

Once you have completed your list, you’re ready to move forward. 

3. Dispute Entries in Your Dun & Bradstreet Report

For Dun & Bradstreet, the simplest option is to dispute incorrect items online via your account dashboard. You can pay for an upgraded account, but all you need is the free version (there aren’t many scenarios where I recommend paying for a premium account). 

Simply login to your account > navigate to D-U-N-S Manager > scroll down to Trade Payments in the left sidebar.

Your trade accounts will appear in the dashboard with an option to select from the dropdown under Initiate Investigation. 

How long does it take to fix business credit?

Follow the prompts to continue at the bottom right of the screen until you come to the summary page. 

Does an LLC have a credit score?

Accept the terms of service, then click Submit. 

You will receive a reply relatively quickly, letting you know whether the investigation has resulted in a removal of the items you requested or not. 

4. Dispute Entries in Your Experian Business Report

The best way to execute Experian business disputes is to print your full, updated report, circle the incorrect information, and write-in the reason you are disputing each item. 

Scan and email the edited report to businessdisputes@experian.com, along with any additional documentation you have to support your request for information removal. 

Alternatively, you can open an account with Experian business, then call in to initiate a dispute: (888) 397-3742. When you place the call, have your list handy so that you can accurately indicate which items you want the bureau to investigate. 

5. Dispute Entries in Your Equifax Business Report 

Equifax disputes can be handled online or via mail, email, or phone. Recently, I’ve seen email disputes resolved within about one week. 

Equifax Inc. 

P.O. Box 740249

Atlanta, GA 30374-0249

commercialdisclosures@equifax.com 

(800) 727-8495

Business credit dispute template

Download business credit dispute template PDF

6. Reach Out Directly to Creditors 

After you’ve waited about a month after initiating your dispute(s), or you’ve heard back from the bureaus, are there any red flags still on your reports? If so, it might be worth reaching out to the creditor directly. 

In some cases, you may be able to negotiate a deal to get negative information removed from your account. For example, if an account shows unpaid, you might be able to get the creditor to report the account paid in full with a lump sum payment. 

If you do negotiate a deal like this, be sure that you get the agreement in writing, including the date by which the creditor will report to the credit bureaus. 

7. Establish New, Healthy Accounts

A crucial ingredient for a strong business credit score is to have healthy accounts. If your credit profile is sparse, it might be a good idea to add a few accounts that report on-time payments to the business credit bureaus. 

After your reports have been cleaned up, you might benefit from opening new accounts — depending on how established your business credit profile is. 

To get started, see our list of 41+ Companies That Help Build Business Credit. 

Be sure to keep any revolving accounts below 30% utilization for an optimal impact to your credit score. For example, if you have a revolving business credit card with a $30K limit, never use more than $10K at a time. Better yet, pay the card off in full each month. 

Ask for credit limit increases on revolving accounts. From time to time, some creditors will automatically increase your spending limit. Other creditors require that you make the requests for increases yourself. If you can request an increase from your account dashboard, go ahead — if not, pick up the phone and call customer service and ask if you qualify for a higher spending limit.

8. Continue to Monitor Your Business Credit

Like personal credit, it’s important to monitor your business credit and keep an eye out for inaccuracies. If you haven’t already, sign up for a Nav account. 

Nav can help you monitor your business credit… and more. 

  • Get actionable insights into credit and cash flow 
  • See relevant financing recommendations
  • Research customer and partner credit profiles
  • Boost your chances of obtaining business credit

It doesn’t hurt to maintain accounts with all three bureaus, but you can accomplish most of what you need from a single dashboard with Nav alone. 

Final Thoughts

Credit repair is important when you want to increase your business financing limits. Start by reviewing your reports from the three major business credit bureaus. Then, dispute any inaccuracies you find on your reports. If you need to, reach out to creditors directly to clean up any accounts in poor standing. After that, maintain healthy accounts, and monitor your business credit to watch for new inaccuracies or mistakes. 

To learn how to obtain $100K in business credit in 30 days, join Business Credit Workshop today.

Read This Before You Hire a Business Credit Coach [Quick Guide]

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Business Credit Coach

You’ve probably landed here because you’re thinking about hiring a business credit coach. In most small business owner/startup scenarios, we recommend you do because business credit can help you obtain the working capital you need to improve, grow, and scale your operations. But, before you take the leap, you need to know a few things including alternative options and what to expect. 

Here, you’ll learn everything you need to consider before you hire a business credit coach. This is what’s covered: 

What is Business Credit? 

Business credit refers to a company’s ability to access credit cards, lines of credit, and loans. It is based on the business’ creditworthiness, which is typically determined by a business credit score. Business credit bureaus and business divisions within consumer credit bureaus measure business credit separately from personal credit. 

Recommended: This is How to Build Business Credit Fast [Step-by-Step Guide]

What are Your Alternatives for Business Capital? 

Most small US businesses are launched and operated using personal capital, which includes personal cash, savings, and credit. Business credit frees up more opportunities for growth. But, it’s not your only option. You should know what alternatives are available before you invest in something you might not necessarily need.  

So, here’s a quick list of your options and summaries of what each entails. 

  • Personal debt financing – A high FICO score through consumer credit bureaus can give business owners access to personal loans, lines of credit, and credit cards that can be used to fund business ventures. Funding amounts are typically lower than with business credit. 
  • Working capital loans & merchant cash advances – Short-term loans can be accessed through certain lenders based on business income or accounts receivable for urgent funding needs. Interest rates and fees are usually especially high. 
  • Venture capital (VC) & angel investing – Funding can be obtained through private investors and VC firms. In most cases, these investors take partial ownership over the business, or at least a share of future profits, in exchange for funding.  

Business credit is the only funding option (aside from reinvesting profits) that helps owners maintain freedom and control over their business with reasonable costs and is not limited by personal credit. 

What is a Business Credit Coach and How Can They Help?

Now, what do credit coaches do? A business credit coach will learn about your current financial situation and hear your struggles. They will help you set business credit goals and lay out a plan for you to achieve them. A good coach will then help you take the steps needed to get to the end goal and help you overcome any obstacles that you might encounter along the way.  

From establishing your business properly to getting business credit-ready and obtaining large lines of credit, capable business credit coaches know the ins and outs of the business credit world. They can help you ensure that you file the right paperwork, stay in compliance with regulations, and tell you when and how you need to take action. 

Recommended: 41+ Companies That Help Build Business Credit 

Frequently Asked Questions

Before we wrap up, let’s take a look at brief answers to some of the most common questions that I hear from my business credit coaching clients. 

  • Can you repair business credit? 
    • Yes, as with consumer credit, business credit restoration can help you improve your credit score and increase your business’ creditworthiness. 
  • Can you get business credit with an LLC? 
    • Yes, you can get business credit with an LLC or any other corporation. In some cases, you can get business credit with Sole Proprietorships, but we always recommend that our clients establish their company as a corporation. 
  • Can I use my EIN to apply for credit? 
  • Is business credit linked to personal credit?
    • Yes, most (not all) business credit lenders require a guarantor who will be responsible to repay the debt if a business fails to do so. The guarantor on a business line of credit, loan, or credit card is usually the owner… but not always. 

Are You Ready to Pull the Trigger? 

At Business Credit Workshop, we’re not like some of the other coaches. There are a few ways that we go above and beyond for our clients. For example, we have a large database of thousands of local community banks and credit unions that offer business credit. And, we have interviewed every one of them. 

Next, we have a support system made up of Business Credit Workshop students and clients. In our network, those seeking business credit help each other out. Here, you can learn from real people who are actually seeing success.

Finally, we use a trusted 7-step process to get clients $500K+ in business credit without ever having to walk into a bank. If you’ve made it this far and you’re 100% certain that you’re ready to pull the trigger, complete your business credit coaching application today.

41 Companies That Help Build Business Credit [Beyond Net 30 Vendors]

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companies that help build business credit

Countless SMB owners and startups are on the hunt for companies that help build business credit. With a quick Google search, it’s pretty easy to find lists of vendors that report on-time payments to business credit bureaus. But, once these vendors are discovered, there’s not a ton of information that explains precisely how to leverage these vendors to improve your business credit score and obtain large credit lines. 

Surely, that’s what you’re looking for. The process of building business credit isn’t difficult, but it is complex and requires guidance. So, are there companies that can actually help you build business credit? And, where can you find them? 

Yes, there are — And, you’ve found the [ultimate] list! Here, you’ll find net 30 vendors, business credit coaching & services, and business credit monitoring companies that can help you build business credit. The companies listed here are dedicated to helping you establish, build, and procure business credit; they can play a crucial role in your credit building journey, if that’s what you’re after. 

Here’s what’s in-store: 

Get ready to find out exactly where to turn when you want to establish, build, and obtain large lines of business credit. 

First, Learn About Net 30 Vendors [+List of 31]

tier-2 business credit vendor

If you’re not familiar with net 30 vendors, they are merchants that allow you to essentially buy products and services now and pay later via business tradelines — typically 30 days later. In the business credit building world, you’re looking for companies like this that also provide the opportunity to have on-time payments reported to business credit bureaus. 

Companies like Staples and HD Supply can actually report on-time, net 30 payments made on behalf of your business to business credit bureaus. We have a list of 31 (and growing) companies that you can order products and supplies from, and pay on time to boost your business credit. You can find it here: Using 30 Day Net Vendors to Build Your Business Credit Score

Next, Business Credit Monitoring Companies

business credit builder

When building your business credit score, you’ll need to see what’s happening with your business credit report. In order to do this, you need to know which companies can help you monitor business credit. There are more than a handful of reputable brands who do just that.  

First, which business credit bureaus are used by lenders? The three top credit bureaus for business loans and lines of credit are Dun & Bradstreet (D&B), Experian Business, and Equifax Business. A couple of the following companies monitor reports from all three bureaus while the rest monitor reports from just one or two. 

1. Dun & Bradstreet’s CreditSignal™ 

D&B is the top business credit bureau. Most reputable lenders will use your D&B report to determine your company’s creditworthiness. Naturally, you can monitor your D&B credit score through D&B. While you can not monitor Experian nor Equifax reports and scores with these tools, I always recommend that businesses create an account and claim their business (once a company is business credit-ready, of course). 

Recommended: Dun and Bradstreet: How to Get a DUNS Number

2. Experian Business

Experian is another credit bureau that is dedicated to personal and business credit. Businesses can monitor their reports using Experian’s online business tools. This is pretty cut and dry. 

3. Equifax Business

Like Experian, Equifax is a credit bureau that monitors both personal and business credit. And, you can claim your business listing online when you want to monitor your business credit report. 

(Note: Transunion does not currently offer business credit monitoring.)

Nav is the tool I recommend my clients use for business credit monitoring. With their free tools, you can monitor business credit from all three credit bureaus: D&B, Experian, and Equifax. The company has both paid and free plans for all business credit monitoring needs. 

Recommended: Nav Review: A Company That Helps Build Your Business Credit 

5. Credit Suite

While the platform is not as robust as Nav, Credit Suite has a credit monitoring plan that costs $24 per month and empowers companies to monitor reports from all three business credit bureaus. The monitoring software is also available as a white label product for resellers. 

Read more about Credit Suite’s full offer below. 

Finally, Business Credit Coaching & Service Companies

build business credit in 30 days

Now, you’re ready for the meat and potatoes. These companies actually work one-on-one with you to establish and build your business credit score so that you can obtain the large lines of credit that your business needs. 

By the end of the programs, they might teach you how to build credit so that you can use the right tools and tactics to successfully apply for large business lines of credit. Others will help you secure funding through their partners. 

1. Credit Suite 

Yes, Credit Suite was already mentioned above as a credit monitoring company. But, monitoring is not their core service. In fact, Credit suite is a “consultation service” and software system designed to help businesses build credit. The system is also offered as a white label option for software sellers. 

For more information about costs and to read a full overview, read Expert Weighs in on Credit Suite Reviews: Is the Service Worthwhile?  

2. Fund & Grow 

Fund & Grow is a consulting program designed to help small business owners, startups, real estate agents, and self-employed individuals build credit. The program seems to be very well organized and claims to help businesses with every step of the process from boosting their credit score through applying for a loan. They do charge origination fees.  

Recommended: Fund & Grow Facts: An Honest Business Funding Services Review

3. LenCred

LenCred is more of a funding acquisition partner than a business credit builder, but they offer financial reviews, education, and access to startup loans and working capital. All of their advisors are “FICO-certified.”  

Recommended: This is the Truth About LenCred’s Small Business Financing

4. Business Credit Builders

The first offer from Business Credit Builders is a free business credit building audio, which they value at $97. Their program teaches companies to be credit ready, separate personal and business credit, and build business credit reports and scores. The goal is to help you get lines of credit and cash loans. 

5. Midwest Corporate Credit

Midwest Corporate Credit caters to new businesses, established companies, and real estate investors. Their program helps clients get the funding they need and teaches them how to best use the capital to their advantage. In all, they’ve helped businesses secure over $250M in small business loans and lines of credit. 

6. Business Credit Workshop (Me)

Business Credit Workshop started as an in-person workshop to teach business owners how to build business credit the right way. Materials cover a comprehensive, seven-step process for establishing your business, getting business credit-ready, net 30 vendors, how to set up banking accounts, and applying for credit. Learn how to build business credit the right way. 

In our content and via our workshop and coaching, we share the answers to the following questions and more: 

  • How can I improve my business credit score? 
  • What credit score do I need to get a business loan? 
  • What is a bad business credit score? 
  • Can I build business credit without a DUNS number? 
  • How much should it cost to run a D&B report? 

Now, if you’re ready to learn precisely how to obtain $100K in business credit in 30 days with NO origination fees, join Business Credit Workshop.

A Complete Capital on Tap Review: Is This Business Credit Card Any Good?

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Capital on Tap

Since March 2021, when the UK-based company launched their US business credit card, Capital on Tap has been a hot topic for business owners looking to obtain funding. They’re offering business credit lines up to $50K with cashback on all purchases. Sounds enticing, right? But, should you hop on this train or explore other options. 

We’ve done all of the research so that you don’t have to. Here’s what’s in store:

Now, learn everything you need to know about the Capital on Tap business credit card so you can decide if it’s right for you. 

What is a Capital on Tap Business Credit Card? 

A Capital on Tap business credit card is a line of credit geared for small businesses. In the US, They offer lines of credit from $5K to $50K and up to 2% unlimited cashback on all spending. They boast that you can apply for a line of credit in as little as two minutes and get approved within 48 hours. 

Capital on Tap login

Capital on Tap Card Features & Benefits 

Before you think about applying, why would you want to? Capital on Tap has features and benefits that, when compared to other offers, will help you make a decision about whether or not this is the right card for you. 

  • Unlimited Cashback – 1-2% cashback on all spending can be redeemed instantly to help repay your card balance
  • Bonus Cashback Intro Offer – $50 to $199 cash back when you spend $5K to $15K in the first three months
  • Competitive Credit Limits – Credit lines from $1K to $50K
  • Fee-Free – No foreign transaction fees or ATM charges 
  • Employee Cards – Up to 20 supplementary cards for employee spending
  • Spend Management – Budgeting tools to monitor employee spending 
  • No Annual Fee – Restrictions apply

In addition, the card advertises, “no interest if you pay your card in full each month.” But, this isn’t super special. If you pay a credit card balance right away, you can usually avoid interest anyway. Actual interest for Capital on Tap cards ranges from 9.99% to 34.99% APR. 

*Furthermore, while there is no initial fee for ATM use, your interest rate may increase when you pull cash from your balance at an ATM. 

Regular Rewards vs Founder Rewards

Capital on Tap USA

In a nutshell, if you qualify for Founder Rewards through Capital on Tap, you’ll reap higher unlimited cashback and a more generous introductory offer. Here, see a full breakdown.

Regular Rewards vs Founder Rewards

One great aspect of the offer is that you can eventually upgrade from Regular Rewards to Founder Rewards. Account reviews happen regularly and can lead to higher credit limits and decreased interest rates. 

Does Capital on Tap Require a Personal Guarantee? 

Yes, Capital on Tap requires a personal guarantee and will require that you (or a guarantor) submit your SSN, along with your business EIN, when you apply. This means that business debts acquired via Capital on Tap will be subject to personal collection if they fall into delinquency. 

However, the inquiry is a “soft pull,” which means it won’t affect your credit score. So, if you do apply, you aren’t taking a risk with your scores. 

Not all business credit cards require a personal guarantee. However cards that do not require a personal guarantee are rare and typically come with higher business income stipulations. Recommended: Here’s How to [Actually] Get Business Credit With Just an EIN

Who Owns Capital on Tap?

While the name sounds like an offer that could be akin to Capital One, the two companies are unrelated. Capital on Tap was co-founded in 2012 by David Luck and George Karibian. Luck, Capital on Tap’s current CEO, has a history in business management, VC, and private equity funding. Karibrian is a serial entrepreneur with PaymentSense, Judo Payments, and Euroffice currently under his umbrella of businesses. 

Capital on Tap Complaints

Capital on Tap Complaints

All business funding options come with their fair share of complaints. So, what do the people say is wrong with Capital on Tap’s offer? Only 3% of Trustpilot reviews have had a bad experience. Here’s a summary of what unsatisfied cardholders and others don’t like. 

  • High interest rates
  • Poor customer service
  • Excessive junk mail

Note that most complaints mention the company’s advertising in one way or another — most do not mention the actual product. Keep in mind that financial “pre-approvals” are rarely a guarantee that you will qualify for a funding offer. 

Capital on Tap Competitor Overview

Capital on tap is popularly compared to Amex and Capital One’s business credit card offers. So, let’s take a look at how they stack up side-by-side. For this case, we’ll compare the Capital on Tap Founder Rewards Card with Amex Blue Business Cash and Capital One Spark Business Cash specifically.

Capital on Tap vs Amex vs Capital One

All of the cards come with their own set of pros and cons. For example, a Capital on Tap Founder Rewards Card comes with the lowest possible interest rates (9.99%) on regular spending… and also comes with the highest (up to 34.99%). Spark Business Cash and Amex Blue Business offer the best introductory offers (Up to $500 with qualified spending). And, neither the Founder Rewards card nor the Amex Blue Business card will charge an annual fee. 

You’ll need to decide what’s most important to you when you make a credit card application decision. 

Conclusion: Is Capital on Tap Any Good? 

From what I can tell, the Capital on Tap offer stacks up well against the competition and offers some decent benefits for a business in the right position. As you know, it’s not your only option. While it’s not my favorite business credit card, it’s definitely not the worst. If you’d like to learn how to obtain $100K in business credit in 30 days, join Business Credit Workshop.

Trade References: Learn Everything You Need to Know [+Templates]

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Trade References

If you apply for a line of credit for your business, there’s a chance that you’ll need to share a trade reference with the lender. Or, if you’re a vendor, you might be asked permission to be listed as a trade reference for one of your business customers. Even more, if you extend a line of credit to one of your business customers, you may want to ask them to provide you with a trade reference. So, what are trade references and what all do they entail? 

If you’re clueless on the subject or just need a bit more information, we’re here to help. Let’s explore the fundamentals of trade references so you can gain a clear picture. Here’s what we’ll cover.  

Now, let’s get to it!

What are Trade References? 

Trade references meaning

A trade reference or credit reference is a professional testimonial from a vendor or supplier on behalf of a business customer to vouch for that business’s reliability. In most cases, trade references are required or recommended on business financing applications as a form of documentation of the company’s ability to pay debts on-time, as agreed.  A positive trade reference can make all the difference in a successful financing application. 

And, a trade reference request is a solicitation for a trade reference from a vendor. For example, a supplier that has received on-time payments from a business customer each month might be asked by that customer to provide a trade reference that outlines the company’s payment history. The business customer could then use the reference on an application for a term loan, line of credit, or credit card. 

A trade reference is comprised of seven parts: 

  1. Business Contact Information – Legal business names, addresses, and phone numbers for the vendor and the client/customer involved. 
  2. Reporting date – AKA “as of date,” the reporting date is the date that the reference is collected.  
  3. Manner of payment – Details whether payment was made via cash, check, debit, or credit card. 
  4. Rolling, 12-month high credit – Indicates the highest amount of credit used in the past 12 months when applicable. 
  5. Current total amount owing – Denotes the amount owed to the vendor ass of the reporting date. 
  6. Current total past due – Identifies when an amount owed is unpaid past the agreed-upon date of payment. 
  7. Selling terms – Outlines the payment agreement including payment amount, due date, and net terms. 
  8. Date of last sale – Reveals the last time a service was rendered or order placed. 

Business credit bureaus want to see everything above 

What is an Example of a Trade Reference? 

You might think of companies that you pay monthly utilities to as decent references for your creditworthiness. However, when it comes to business financing, you’ll get more klout from vendors and creditors within your industry. For example, if there is a company that supplies your business with funding, operating materials, or services, they might make a good trade reference — even better if they allow you to “buy now and pay later.” 

You can get trade references from any company that allows your business to pay for supplies or services at some point after delivery. By doing busines with these vendors and paying as agreed, you can collect references that help you establish your credit. 

Some net 30 vendors, suppliers that offer 30-day net payment terms on business orders regularly report payments to business credit bureaus under certain conditions. We’ve reviewed some of them, including how to get the most out of their offers: Summa Office SuppliesCrown Office SuppliesHome Depot Business AccountAmazon Corporate Credit Line

How are Trade References Used? 

On a credit application, a trade reference can help showcase a borrower’s reliability when no business credit score has been established. In this case, a trade reference can be attached to the original application. 

Another way to use trade references is to manually request them from vendors and report to D&B and other business credit bureaus. This helps establish a high business credit score, accessible by any lender who looks at your profile. 

How Can You Report Trade References to Dun and Bradstreet? 

Dun and Bradstreet (D&B) is the leading business credit bureau. To build your business credit score, you will need to first request a DUNS number. After your business credit profile has been established (or claimed), you can work to build credit and increase your business credit score. 

One step you can take to improve your score is to manually submit trade reference letters from vendors that you do business with. There are some companies that you can not manually submit trade reference letters from: 

  • Companies that already report to D&B (most major lenders and some 30-day net vendors)
  • Companies without a D&B credit profile
  • Companies that have been prohibited by D&B for untrustworthy activity
  • Companies outside the US
  • Companies with legal ties to your business
  • Companies with internal rules against D&B reporting 

Before you manually submit a trade reference, you will need to send a trade reference request to your vendor. Include a trade reference template that asks for all of the required information for quicker reciept. 

After you have a reference to submit, you will need to upgrade your D&B account to a paid CreditBuilder™ account. With this account level access, you can submit trade reference letters online or through your account concierge. 

Note that a paid D&B account is NOT necessary to build business credit. There are many things you can do to build business credit fast, without paying for expensive subscriptions from credit bureaus or monitoring services. This is exacly what we teach in our Business Credit Workshop. 

Trade Reference Templates 

When you need to request a trade reference from a vendor, you’ll need a trade reference request letter and a trade reference template that the vendor can fill out. Feel free to alter these for your needs: 

Final Thoughts

A trade reference provides potential lenders and credit bureaus with more information than they are able to find via algorithms and search engines. These references can be invaluable for a business that is just starting its credit-building journey. If you want to learn how to get $100K in business credit in 30 days, join Business Credit Workshop today. 

Here’s How to [Actually] Get Business Credit With Just an EIN +More Options

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Business Credit With Just EIN

Lately, I’ve found quite a bit of online content that pertains to getting business credit with just your EIN, and I’ve seen some pretty good information. But, I haven’t found a thorough answer to the core question, which is, “How can you get business credit using your EIN and not your SSN?”

First of all, if you’re not up-to-date with the lingo, what you’re essentially looking for here is business credit without a “personal guarantee.” Luckily, there are lenders that do not require a personal guarantee for business financing, but most of the good options are not common nor easy to find. So, let’s explore everything you need to know. 

Here’s what’s in store: 

In Business Credit, What is a Personal Guarantee? 

When a business takes out an unsecured loan or line of credit, most lenders want assurance that the funds will be paid back. A personal guarantee is a promise that, should the business fail to repay, the individual will be responsible for the debt. This responsibility typically falls on a company executive or business owner.  

With a business loan or line of credit for which you are the personal guarantor, the lender has a legal right to your individual assets if your business does not repay the debt as agreed. In order to legally collect the funds in this case, the lender needs your social security number (SSN). 

Your SSN often serves a second purpose, which is to see if you have shown responsible credit behavior with your personal finances. Really, lenders just want to make sure you are responsible even when your business is obviously financially healthy.   

💡 Does Your EIN Have a Credit Score? Your business has it’s own public credit score, separate from your private personal FICO score. To learn more about the oldest and most-used business credit bureau, see Everything You Need to Know About a DUNS Number & Why Should You Care. 

What if You Aren’t Eligible for an SSN? 

If the reason you want a business credit card is that you don’t have a social security number — perhaps you’re a nonresident of the United States doing business here — you can take another route to bypass the SSN section of a credit card or loan application. In this case, you need to file for an Individual Taxpayer Identification Number (ITIN) through the IRS. 

Several credit lenders allow you to apply for funding using an ITIN instead of an SSN. I recently did a write-up on one of them and you can find more about it (and competitors) here: Chase Ink Business Preferred Credit Card: A Deep Dive. 

To apply for an ITIN, use IRS form W-7. Consult with a CPA licensed in the state where you do business to find out more as it applies to your situation. 

Apply for an ITIN

What if You Have Bad Personal Credit? 

Another reason you might want to apply for business credit using your EIN and not your SSN is that you have a low FICO score. If you’re in this boat, there are steps you can take to remedy the predicament. These steps will vary based on your situation. 

In all cases, the first step will be to learn about the common errors often reported by consumer credit bureaus and leverage them to your advantage. For example, you might learn how to best deal with vehicle repossessions and defaulted loans or what can be disputed in a credit file and how to do so.  

Recommended: Credit Secrets Book Review: Can You Erase Bad Credit History? 

How Can You Use Your EIN Instead of Your SSN to Get Business Credit and Loans?

If you want to get a line of credit for your EIN and withhold your SSN, as you probably guessed, you need to find a lender that does not require a personal guarantee. Then, you will need to meet the credit and income requirements of that lender. Finally, you’ll need to apply. 

Lenders That Offer Financing With No Personal Guarantee

As I’ve already said, lenders that do not require a personal guarantee are uncommon. But, they’re not impossible to find. Here’s a list of a some lenders who may not require an SSN or an ITIN to apply for a line of credit or a loan. 

Business Credit Cards 

These business credit cards are fairly easy for companies of all sizes, including freelancers and individual contractors, to qualify for and require no personal guarantee. 

  1. Sam’s Club Business Credit Card
  2. Office Depot OfficeMax Business Credit Account
  3. Shell Small Business Gas Card
  4. SuperAmerica Fleet Credit Card 

Recommended: How to Use Business Gas Cards to Build Your Business Credit

Corporate Credit Cards 

Rather than base your credit limit on your FICO score, you may be able to meet revenue requirements for one of these corporate cards with no personal guarantee. You may need an actual S or C corporation to qualify (in some cases, an LLC might suffice). 

  1. Brex Rewards Card 
  2. Stripe Corporate Card – see our full write-up here. 
  3. ScaleFactor Visa Charge Card
  4. Bremer Bank Business Card
  5. American Express Corporate Cards
  6. Capital One Corporate Cards
  7. Citibank Corporate Cards
  8. JP Morgan Chase Corporate Cards
  9. Wells Fargo Corporate Cards

Business Loans

While you may be required to share your SSN during the initial application process to ensure that you meet minimum credit requirements, these lenders have funding options that require no personal guarantee. 

  1. Kabbage
  2. Fundbox
  3. StreetShares – requires no personal guarantee for government contractors and subcontractors to Fortune 500 companies. 

Alternative Financing [Proceed With Caution]

First, when you don’t qualify for a business loan or line of credit, you can try for a personal loan or credit card instead. In fact, many companies are funded with personal capital. But, personal credit is typically more limited as far as funding amount and rewards than business credit. 

Next, if you have a friend or family member willing to extend a loan to your business, you may be able to request a private contract without using your SSN and with no personal guarantee. Most people avoid this to protect perfectly healthy relationships rather than muddy them with potentially disastrous business affairs. 

Then, depending on your type of and stage in business, you may also find VC or Angel investors willing to extend funding, which typically requires formal pitching and a detailed plan that outlines how you will use the money to increase company profits. In nearly all cases, investors also require a certain level of control over business management and a share of the revenue. So, if you want to maintain your operations as is (and keep your profits for yourself), this isn’t a great option.  

Finally — and I hesitate here — it may be worth mentioning that other options include working capital financing or merchant cash advances. In rudimentary terms, you can take out an equity loan on accounts payable.  However, I do not recommend these channels. Repayment on these types of loans is overly-expensive akin to personal payday loans. 

Final Thoughts

Business lenders that provide practical funding solutions you can apply for using only an EIN are unicorns in the financial universe. But, if you’ve made it here, you should know everything you need to find one. If you’ve tried, but still can’t seem to qualify for financing, there’s plenty you can do to transform your situation. 

And, if you know of other lenders who require no personal guarantee, I’d love to hear about them. For now, I recommend you learn how to build business credit so that you can access high-limit loans and credit cards with the best possible rates. If you want to learn how to obtain $100K in business credit in 30 days, I invite you to join Business Credit Workshop today. 

Chase Ink Business Preferred Credit Card: A Deep Dive Analysis

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Chase Ink Business Preferred Review

As a multinational investment bank and financial services provider, Chase has been a major player in the lending game for centuries. In 2000, the bank merged with JP Morgan and evolved into what it is today. 

While I usually endorse smaller community banks and credit unions for their flexible business loan and credit card underwriting requirements, today I want to share everything I know about the Chase Ink Business Preferred card — it’s definitely worth learning more about. 

Here’s what we’ll cover: 

Chase Ink Business Credit Cards Overview

Chase Ink Business Preferred is one of three Ink Business Visa credit cards offered through Chase, each of which have their own set of rewards. 

  1. Chase Ink Business Unlimited – Earn unlimited 1.5% cash back and up to $750 bonus cash back. 
  2. Chase Ink Business Cash – Earn up to 5% cash back in select categories and up to $750 bonus cash back. 
  3. Chase Ink Business Preferred – Earn up to 100,000 bonus points equal to $1,000 cash back or $1,250 in travel rewards. 

Chase also offers travel rewards cards for Southwest and a United travel reward card. For now, I want to share a quick side-by-side comparison of the three Ink cards before diving deeper into the Business Preferred card.

Chase Ink Business Credit Cards

With Chase Ink Business Preferred, 1 point is equal to roughly 1 cent cash back or 1.25 cents worth of travel rewards. For businesses with higher spending, because of the higher reward caps, Preferred is the Chase Ink card to strive for. 

How to Upgrade an Unlimited or Cash Card to a Preferred Card

When you meet the qualifications for a Chase Ink Preferred card, you may be able to upgrade an existing Unlimited or Cash card. Your Unlimited or Cash card must have been open and in good standing for at least a year and you will need to pay the $95 annual fee. 

Furthermore, when you make a product change, you won’t be eligible for the sign on bonus for new Preferred cardholders. 

To upgrade, simply call Chase using the phone number on the back of your card and ask for an account review or contact the company via the secure messaging platform inside your account dashboard. 

Chase Ink Business Preferred Under the Microscope

Now, let’s take a closer look at the pros and cons of the Chase Ink Business Preferred Card. We’ll start with credit reporting, since that’s the lifeblood of what we do here at Business Credit Workshop. Then, we’ll explore more about the benefits of using a Chase Ink Preferred card and when it might be better to try other channels for business cash flow. 

Does Chase Report On-Time Business Credit Card Payments to Dun & Bradstreet? 

Dun & Bradstreet (D&B) is the monarch of business credit reporting agencies. While there are rumors floating around online credit forums that Chase doesn’t report to to D&B, this simply isn’t true. 

Does Chase Ink Report to D&B?

The fact is that Nav — a highly reliable source — reached out to the major banks late last year to see which ones report payment activity to business credit bureaus. They found that Chase and Citi are the only big banks in the United States that report business financing payment activity to all four of the top bureaus (D&B, Equifax, Experian, and SBFE). 

Which Banks Report to D&B?
[Image Source: Nav]

So, on-time payments and responsible credit use on a Chase Ink Business Preferred card can help you improve or maintain your business’ PAYDEX score. 

Recommended: Everything You Need to Know About a DUNS Number

Chase Ink Business Preferred Card Benefits

Some of the perks of using a Chase Ink Preferred card are summarized above. Now, let’s explore them further.  

Telephone Damage and Theft Protection 

If you pay your business phone bill with a Preferred card, you will be eligible for up to $600 per claim on damage and theft for you and your employees. This is a standout feature not offered by competitors’ credit cards. You will be eligible for up to three such claims per year, which will have a $100 deductible. 

Free Employee Cards

Once your account is approved, you can get employee cards at no cost. For each card, set spending limits to control your budget. All rewards will pool into the master account. This means that employee spending on a company Chase Ink Preferred card will count toward your bonuses and points. 

Auto Rental Collision Damage Waiver

When you rent a car and pay with your Business Preferred card, you don’t need to purchase insurance, because Chase automatically has  you covered with damage protection up to the actual cash value of the vehicle. This can save you quite a bit on business travel, especially when multiple employees rent cards when traveling for business. 

Trip Cancellation/Interruption Insurance

For prepaid, otherwise non-refundable travel fare, tours, and hotels, you won’t have to worry about losing your money if you need to cancel or delay a trip. When you pay for travel expenses using your Preferred card, they’re insured up to $5K per person and $10K per trip. Sickness, severe weather, and other covered reasons are covered when you need to take advantagee of this perk.  

Purchase Protection and Extended Warranties

If you buy a product with your Preferred card and it is stolen or damaged within the first four months after purchase, Chase will compensate you up to $10K per claim and $50K per account. This neans that you don’t need to insure every single item that you buy, instead, hold onto your receipts (or just keep track of transactions in your online account dashboard). 

Chase Ink Preferred Purchase Protection

Furthermore, any item that you buy with your Preferred card with a three year or less warranty, will be warrantied for an additional year. For example, if you were to purchase a computer with a two year warranty using your card, Chase would extend the warranty to three years. 

Transferable Points & Rewards That Never Expire 

As long as your account is open, you can redeem rewards points at any time. This means that you can save up points for years before you spend them. Furthermore, you can transfer your points at a 1:1 exchange with leading frequent flyer programs. 

100K Chase points are worth around $1K and 80K Chase points are worth roughly $800 when used in the Chase Ultimate Rewards program dashboard. Be sure to find out if your points will change in value when transferred since points/miles’ value can vary between programs. 

Login to your Chase Ultimate Rewards program dashboard or check with your frequent flyer program to find out for sure if your points would be transferrable — not all travel programs have a partnership with Chase. 

Chase Ink Business Preferred Preferred Card Downsides

As with most business credit cards from big banks, the Chase Ink Preferred Card does come with notable fees. Your APR on spending will range between 15.99% and 20.99%. We’ve reviewed cards from credit unions and community banks, as well as alternative modern funding sources, with interest rates below 10%, but they don’t typically offer the same level of rewards as the Preferred card. 

And, you will pay a $95 annual fee to maintain your account. This means that if you don’t plan to redeem your rewards, even if you pay your account in full every month to minimize interest payments, you could be out at the end of the year. However, an annual fee is typical of rewards cards in this tier. Amex, for example charges much higher annual fees than Chase. 

How to Apply for a Chase Ink Preferred Card

Before you apply, you must meet Chase’s requirements for this card. In addition to a 688+ FICO score (some recommend 700 to 740 and above), there are a handful of minimums you must meet. 

  • Less than 5 new credit cards opened in the past 24 months (Chase’s 5/24 rule)
  • No new Chase cards opened in the past few months 
  • Enough income/spending power to warrant a line of credit
  • A credit utilization ratio below 30%

Even if your credit is excellent and you meet all of the above requirements, there is not a guarantee you’ll be approved. But, if you can show these characteristics, your business is likely to appear less risky to the underwriters. And, you may up the odds if you have a Chase business checking account in good standing. If you’d still like to proceed, you can visit this page and sign in to apply or apply as a guest. If you’ve received an invitation to apply, visit getchaseink.com.   

Chase Ink Business Preferred Competitor Overview

The Chase Ink Business Preferred credit card, of course, has some competition in the marketplace. Amex Platinum and Capital One Spark are often considered by medium to high-earning small businesses looking for this type of rewards on spending. And, one of the alternatives might be a better fit for your situation.

So, let’s look at a summary of Chase Ink Preferred, Amex Platinum, and Capital One Spark next to one another to see the differences.

Chase Ink Preferred vs Amex Platinum vs CapitalOne Spark

In addition to what’s listed above, none of these cards have foreign tansaction fees. They provide various trip cancellation and delay insurance and reimbursement. And, they all have 

The Amex Platinum card certainly comes with the most benefits, but there’s a trade-off with the $550 annual fee, more than five times that of its competitors. If you only take advantage of the Fine Hotels & Resorts Perks,™ that cost will be covered.  

Final Thoughts

The Chase Ink Business Preferred card is acclaimed as one of the best small business credit cards, likely because of the huge sign on bonus. While you won’t get 0% APR and you will pay an annual fee, there’s still a lot of potential for savings and rewards here. If you think you business can meet the qualifications, I say go ahead and apply.

And, if you still need to learn how to build business credit and you want to learn to obtain $100K in business credit, join Business Credit Workshop today. 

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