How DO you build Corp Credit???
Help me guys and gals!
We have a 2 year old S-Corp and we want the S-Corp to start having credit, our accountant told us to transfer our business credit card to the Corp and try to get our business vehicles transfered too.
I just got off the phone with the company we bought our corp through and they are saying that you can't build Corp credit that way and that we were wasting our time. Then he said for $3500 they could build our Corp credit and fix our personal credit (we have forclosed in 08) and guarentee us a $50,000 loan.
I don't know about paying someone that much for building credit. The sales person said it's better to pay someone to do it because if I try to do it myself i'll do it wrong and get denied by a lender then I'll go on some lender list and no one will lend to my Corp.
I would like to use so some credit to purchase our properties someday but this sounds really touchy and complicated.
Do I really need to or should I pay someone to build my Corp credit?
Is he just trying to scare me out of $3500?
If he's right about me wasting my time with the credit card and vehicle transfer, do you guys know someone that can build it correctly, that you trust?
I feel really "blah" after talking to this guy.
:cry:
Thanks for you help.