How do I establish credit with my home business?
I’m starting a home business; what do I need to do to go about establishing personal credit. I currently have no credit history and therefore have not been approved for any lines of credit, inclluding gas cards. What would I need to present to a financial institution to try to begin to establish some positive credit history?
Start with things as simple as a "Staples" or "Office Depot" card. You are going to need office supplies. Rather than pay cash, put them on their cards and pay them off immediately.
Ask your bank for a "Secured" loan. You put money in a savings acct at their institution, they put a hold on it. They lend you the same amount, and you pay them back in monthly installments. Once the loan is paid off, they release your money back to you.
These will both build credit for you. As a last resort, the one place you can always get credit is through a jeweler. Go down and buy your mom a bracelet for $300 and finance it. This will also go on your credit report. Jeweler’s finance ANYONE.
2 Comments to How do I establish credit with my home business?
Leave a comment
Categories
- Bullion
- Business Idea
- Business Ideas
- Business Startup
- Coins
- Franchise Ideas
- Get Money Quick
- Gold
- Home Based Business
- Home Business
- How To Earn Money Fast
- How To Get Money Fast
- How To Make Quick Cash
- Make Money Quick And Easy
- Make Quick Easy Money
- Money Making Forums
- Paper Money
- Small Business Ideas
- Small Business Marketing
- Small Business Opportunities
Archive
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
Start with things as simple as a "Staples" or "Office Depot" card. You are going to need office supplies. Rather than pay cash, put them on their cards and pay them off immediately.
Ask your bank for a "Secured" loan. You put money in a savings acct at their institution, they put a hold on it. They lend you the same amount, and you pay them back in monthly installments. Once the loan is paid off, they release your money back to you.
These will both build credit for you. As a last resort, the one place you can always get credit is through a jeweler. Go down and buy your mom a bracelet for $300 and finance it. This will also go on your credit report. Jeweler’s finance ANYONE.
References :
7+ yrs Credit & Collections
How to Build Credit from Scratch – http://aaacreditguide.com/2007/05/how-to-build-credit-from-scratch.html
References :
Credit Forum – http://aaacreditguide.com/forums