The Amex charge card, which has no ‘pre set limit’ and has to be paid in full at the end of the month, has been somewhat of a mystery in terms of building business credit.

First confusion – Does an Amex charge card report to any business credit agency or data collection agency (like D&B ). No it does not.

 On top of that it is a charge card – so if you are going to pay it off at the end of every month and it has no ‘set limit’ than what will the business credit report show anyway ?  ‘Zero’ activity and ‘no’ limit !!

However:

Small Business Financial Exchange (SBFE) is an agency similar to D&B except they are not- for-profit and have a MUCH LARGER data base than D&B.  SBFE database has files on small businesses just like D&B. Amex Express business cards (charge cards etc) is one of the companies that DOES report to SBFE……. Equifax commercial division (Equifax business credit) handles SBFE’s database.   So in that way creditors who run your Equifax business credit report will be able to see that you have Amex business card.

 Amex is a reputable name and if you do not go over-board in using it on a monthly basis, it will always look good in your business profile/file. Amex Gold card or even there Platinum card could be a stepping stone to say a Citibusiness credit card, a much larger business unsecured cash card.

Amex on your personal credit report (personal credit card) – now that is another story and that might have more cons than pros…. but that is for another article.

http://www.ucc-1credit.com/articles_1

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As you know we consider getting a Staples account an important step in business credit building. Here is a common confusion among some: When applying for the Staples card – remember it is easier initially to get a Net 30 pay account instead of a revolving account. That is the commercial billing account that asks you to pay the complete balance at the end of every 30 days. When you do have this account and use it for a couple of months it is easier to change it to a revolving account. In a revolving account you can pay a minimum every month if you want.

As we indicated on the site, Staples is a citibank backed card like Shell gas card. Of course with Staples you can get really creative. All that will make it easier for you to get a Citibank (or citibank backed) unsecured business credit card.

Aimanzul

http://www.ucc-1credit.com/articles_1

This is a follow up article from Part 1 that shows a small business that just got a Duns report (from Dun and Bradstreet) established. Part 1 shows the basics and this part shows how the report keeps changing as new items are updated as the business owner establishes his/her business credit by following the steps that we outline, vendor credit, public filings. This will be a series of articles and as the corp builds its credit I will keep posting the updated report and highlight the changes.

To read Part 1 click here and go to the bottom of the page, last article.

We all know that the format of D&B log in and the report has changed a little. Plus our corp (see the previous article on this subject) has certain information updated, meaning new information appears on its report.



The explanation of most of what you see above is in Part 1 (click here) and read the last article at the bottom of the page.


The page above shows the major changes that took place since this report was updated (see Part 1). Lets magnify this page and see the details. First the top half:


1  Notice the line above Public filing shows that on Sept 2 2010 a correction to the address info took place. It was an addition of an office location.

Ucc filings:

2 Notice the filing number (one of the ways the credit agencies look deeper into the filings)


……..to be continued. You can read this complete article (and Part 1) immediately by clicking the links below.

Complete Part 2


Also read the first article on Dun & Bradstreet  for a better understanding of what D&B really looks for click here


Aimanzul