Building Business Credit for Small Business
Did you know that you can obtain 10 to 100 times greater financing as a creditworthy business then you could using your personal credit? More importantly would you prefer to stop putting your personal credit and assets at risk every time your company needs capital?
If so, then watch my short video recording with Dun and Bradstreet covering the following question:
How do I obtain business credit wihout a personal guarantee?
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It’s time to review those costly errors that can damage our personal credit scores as well as put our personal assets at risk. Now I know applying for a business credit card may not be the most exciting thing to do but it’s necessary and requires your careful attention. 
As with the last time we covered the six major types of business credit applications, I feel compelled to mention that there are certain mistakes that you should avoid before you sign the dotted line.
So, let’s take a look at seven mistakes that you never want to make that can cost you money, damage your personal credit and put your personal assets at risk.
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With the vast amount of information and resources available online it can be quite a challenge for entrepreneurs and small business owners to find the small business help they need. 
From deciding whether to start a business, setting up or acquiring a business, raising capital, acquiring credit, marketing, social media marketing, working with customers, growing your business, working online, selling online and much more it’s vital to have access to resources you can depend on.
Below are my top 25 all time favorite websites that provide small business owners the much needed support, news, information, resources, and tools needed to succeed in business today.
Care to share a website or free resource that has provided small business help for your startup or existing business?
Ready to build your business credit? Become a member of my Business Credit Insiders Circle and gain access to a proven step-by-step business credit building system. A system that provides you access to vendor lines of credit, fleet cards, business credit cards with and without a PG, funding sources and lenders that report to all the major business credit bureaus. Submit your name and email below for details and receive a free business credit building audio seminar ($597 value) =>
To Your Success In Business and in Life!
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About the author
Marco Carbajo is a business credit expert, author, speaker, and founder of the Business Credit Insiders Circle. He is a business credit blogger for Dun and Bradstreet Credibility Corp, the SBA.gov Community, About.com and All Business.com. His articles and blog; Business Credit Blogger.com, have been featured in ‘Fox Small Business’,’American Express Small Business’, ‘Business Week’, ‘The Washington Post’, ‘The New York Times’, ‘The San Francisco Tribune’,‘Alltop’, and ‘Entrepreneur Connect’.
Small business owners are becoming acutely aware of the importance of establishing business credit scores that are completely separate from their personal credit scores.
In addition, many have found this to be a viable solution to overcome personal credit challenges that prevent them from obtaining credit.
While strong company credit files and scores can open the doors for various types of financing business owners should continue to work on improving personal credit scores as well. 
This can benefit their business in several ways:
First, with good credit scores you have more choices for obtaining funding simply from the fact that certain lenders require a personal credit check as part of their approval process.
Secondly, it strengthens the credit picture of your business overall as many lenders will consider your personal credit scores as a strong indicator to how you will handle your company’s financial obligations.
Finally, a potential business partner or investor will look at your personal credit scores as a factor for determining how financially responsible you are.
This alone should bring you to the conclusion that raising credit scores is not only good for your business today but it’s also vital to its long term growth as well.
Here are several strategies that you can apply for increasing your scores:
*Become an Authorized User – If your spouse has an existing aged credit card account then add yourself as an authorized user on that account. As an Authorized User you gain all the credit history of that particular account as if you had been on the account since it originally opened.
Keep in mind your credit history does not affect your spouse’s account, but any activity, negative or positive from the Main Account Holder (your spouse) will affect you the Authorized User.
*Pay More than the Minimum – Add $10.00 or more on top of your minimum monthly payment and make three payments a month with each payment received ten days apart from one another.
By making a payment higher than your minimum payment and increasing the frequency of payments triggers the positive action or activity on your account. The system will automatically report “More than Minimum Payment Made “to the credit agencies.
The frequency of your payment lets the creditor know you can afford MORE than your current credit line. This triggers two things.
While there are many more strategies for improving credit scores pay close attention to some of the more obvious ones. This includes maintaining a 30% debt to credit limit ratio on credit card accounts as well as correcting any errors or obsolete information you uncover on your reports.
Even though every business owner has a unique file with all types of factors that make up their scores these simple yet powerful strategies can give you that extra boost you need so your business can reap all the benefits.
Looking for ways to improve your credit score while obtaining business credit? Become a member of my Business Credit Insiders Circle and gain access to a proven step-by-step business credit building system. A system that provides you access to credit building services, vendor lines of credit, fleet cards, business credit cards with and without a PG, funding sources and lenders that report to all the major business credit bureaus. Submit your name and email below for details and receive a free audio seminar ($597 value) =>
Marco Carbajo is a business credit expert, author, speaker, and founder of the Business Credit Insiders Circle. A business credit solutions membership helping business owners build small business credit. He is a business credit blogger for AllBusiness.com, a subsidiary of Dun and Bradstreet and author of “Eight Steps to Ultimate Business Credit” and “How to Build Business Credit with No Personal Guarantee.” His articles and blogs have also been featured in American Express Small Business, Business Week, The Washington Post, The San Francisco Tribune, Scotsman Guide, Alltop, Entrepreneur Connect, and Active Rain.
It’s amazing to see how credit cards have evolved over the years and while the first ones were issued back in 1951 it wasn’t until the 1970’s that the magnetic stripe changed the face of financial cards.
But today who would have thought that the black or brown stripe you see on the back of your credit cards would come up against a far superior and smarter adversary. 
Basically there are two ways a smart card is different from a magnetic stripe card: the amount of data that can be stored is much greater, and some smart cards can be reprogrammed to add, delete or rearrange information.
One of the companies making headway into bringing these ‘smart’ credit cards into the 21st century is a company called Dynamics. Just last week it won the People’s Choice Award at the DEMO conference held in Silicon Valley, California.
At the conference CEO; Jeffrey Mullen demonstrated the Dynamics Card 2.0 and how a cardholder can switch the card from one account to another with the press of a button.
So with this ‘smart’ card you can literally have your personal and business account accessible on one single credit card.
Another cool feature he showed was an added level of security that no other typical credit card or commercial credit card could possibly compete with.
The credit card numbers on the face of the card would be obscured so nobody could view them unless the cardholder entered a security code. How’s that for an extra level of protection?
Dynamics Card 2.0 includes an Electronic Stripe which is the world’s first fully card-programmable magnetic stripe that can be read at any existing point-of-sale (POS) magnetic stripe reader.
The device itself can change any bit of information on this programmable stripe at any given time. What’s also impressive is the fact that this new technology does not require any change to the 60 million magnetic stripe readers currently operating today.
So when can we expect these smart credit cards to hit the marketplace?
According to Mullen there are financial institutions that have these cards in the field for testing as we speak. So you can expect this new generation credit card to become available very soon.
To learn more about the Dynamics Card 2.0 you can watch Jeff Mullen’s DEMO presentation.
Looking to rebuild your business credit? Become a member of my Business Credit Insiders Circle and gain access to a proven step-by-step business credit building system. A system that provides you access to vendor lines of credit, fleet cards, business credit cards with and without a PG, funding sources and lenders that report to all the major business credit bureaus. Submit your name and email below for details and receive a free audio seminar ($597 value) =>
Marco Carbajo is a business credit expert, author, speaker, and founder of the Business Credit Insiders Circle. A business credit solutions membership helping business owners build small business credit. He is a business credit blogger for AllBusiness.com, a subsidiary of Dun and Bradstreet and author of “Eight Steps to Ultimate Business Credit” and “How to Build Business Credit with No Personal Guarantee.” His articles and blogs have also been featured in American Express Small Business, Business Week, The Washington Post, The San Francisco Tribune, Scotsman Guide, Alltop, Entrepreneur Connect, and Active Rain.