YOUR GOAL IS TO GET AT LEAST 1 FUNDING ACCOUNT
AND 2 - 3 trade accounts REPORTING
ON YOUR BUSINESS CREDIT REPORTS
PLEASE SCROLL TO APPLY FOR funding ACCOUNTS AND DON’T PROCEED TO THE NEXT STEP UNTIL THE ACCOUNTS ARE REPORTING.
Remember to use your correct BUSINESS information when applying, as all information should match your BUSINESS records perfectly with all Bureaus.
TO MAKE SURE YOUR ACCOUNTS REPORT POSITIVE, Remember to stay under your target utilization.
Never Exceed more than 30% of overall Credit but for best results stay under 5 - 10%
To ensure that your ACCOUNTS report POSITIVE, make your payments on the statement due date rather than just the due date. On average it takes 30-60 days for your accounts to report and to complete this step.
​
Use Tools Like credit strong to jumpstart your business credit profile with a secured installment loan Reporting, they report to all Bureaus and Can add loan history up to $50,000.
TIER: 1
bank of america
Business unlimited secured
HIGHLIGHTS
-No Upfront Deposit or Credit Check
Recommended Credit
300 - 850 (Poor - Excellent)
REPORTS TO:
-
ALL BUREAUS
TERMS:
-
SECURED LINE OF CREDIT
The Bank of America Business Advantage Unlimited Cash Rewards Secured credit card has no annual fee, but it does require a deposit for business customers seeking to establish business credit. With benefits such as rewards and the ability to upgrade to an unsecured card over time, the card stands out among secured business cards.
TIER: 1
WElls fargo
business secured
HIGHLIGHTS
-No Credit Check
Recommended Credit
300 - 669 (Poor - Fair)
REPORTS TO:
-
ALL BUREAUS
TERMS:
-
SECURED CREDIT CARD
Wells Fargo's Business Secured card offers rewards that many other secured cards do not. Though competitive with secured cards, its 1.5% cash-back reward rate is lower than that of many unsecured cards. The card also allows you to earn 1 point per dollar on every purchase, but this option is only suitable for a small number of cardholders. The choice between cash back and rewards can be perplexing for those who are new to rewards, and in general, cash back is usually the more straightforward option.
TIER: 1
FNBO
BUSINESS SECURED
​
HIGHLIGHTS
-Minimum Credit Required
Recommended Credit
300 - 850 (Poor - Excellent)
REPORTS TO:
-
ALL BUREAUS
TERMS:
-
SECURED CREDIT CARD
The FNBO Business Edition Secured Mastercard allows businesses to build credit; however, we recommend starting with a personal consumer secured card and then applying for an unsecured business credit card once your credit improves.
Though its maximum credit limit of $100,000 is the highest we've seen in any secured card category, the FNBO Business Edition® Secured Mastercard® Credit Card*'s 110%-of-credit-line deposit requirement is also unusual. Secured cards typically require 100% or less of the amount of credit requested.
TIER: 1
RAMP
BUSINESS SECURED
HIGHLIGHTS
-Rewards & Upgrades
Recommended Credit
300 - 629 (Poor)
REPORTS TO:
-
ALL BUREAUS
TERMS:
-
SECURED CREDIT CARD
Ramp Card is a corporate credit card that is available to U.S.-based corporations, limited liability companies, and partnerships. The card has no annual fee, unlimited 1.5% cash back, card-level spending controls, and direct integrations with popular business tools.
TIER: 1
CREDIT STRONG
INSTALLMENT ACCOUNT
HIGHLIGHTS
-Low Security Deposit
Recommended Credit
300 - 850 (Poor - excellent)
REPORTS TO:
-
ALL BUREAUS
TERMS:
-
SECURED installment loan
Credit Strong is a leading credit builder platform that allows users to build business credit using their EIN with limits ranging from $5,000 to $50,000 without interest. They are also the only bank in the country that allows small business owners to build payment history on large bank loans without incurring interest. Business accounts range from 25 to 50 months with 0% interest rate.
