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Forums » Credit & Credit Repair » Just Created LLC. Need to create credit history

Just Created LLC. Need to create credit history Subscribe to Just Created LLC. Need to create credit history

8 posts by 7 users

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Fermin G.

Real Estate Investor · Massachusetts


Forum_avatar_avatar-mvg

Aug 13 '08, 02:54 AM

Good afternoon all. Just formed an LLC to take advantage of real estate market. What is the best way to build up my credit in the LLC?
Thanks

Edited: 06/26/2010 at 05:40AM


Tyler Thrush

Real Estate Investor · Dana Point, California


Forum_avatar_avatar-raywasted

Aug 13 '08, 05:30 AM

you are going to need to get some credit lines/cards through the llc with yourself as a gaurantor and build credit over time

Edited: 06/26/2010 at 05:40AM


William Moua

Homeowner · Lancaster, PA


Forum_avatar_avatar-raisingstar

Aug 13 '08, 11:14 PM

Yeap you got to Personal G on everything for now...
until the Business has a D&B pay index of 80 and a Experian Busniess Credit rating

Edited: 06/26/2010 at 05:41AM


Fermin G.

Real Estate Investor · Massachusetts


Forum_avatar_avatar-mvg

Aug 14 '08, 01:23 AM

Thanks for the info, what exactly is a D&B pay index of 80 and a Experian Busniess Credit rating?

Edited: 06/26/2010 at 05:41AM


Cornell James

Real Estate Investor · Birmingham, Alabama


Forum_avatar_avatar-cjexplo

Aug 15 '08, 08:10 AM

80 is like having perfect credit. when you get to this level you can start applying for lines of credit. First start off small. I personally have not had to use a persona l guarantee. I have a few accounts, cell phone etc. I started off with Staples. No PG required just provide your FEIN. The most important thing is getting that D&B number and Experian

Edited: 06/26/2010 at 05:41AM


C. Burris

Homeowner · Shreveport, LA


Forum_avatar_avatar-restoman

Aug 24 '08, 10:27 PM

Go here to get the DUNS number

http://fedgov.dnb.com/webform/displayHomePage.do;jsessionid=B9E740A165

Edited: 06/26/2010 at 05:45AM


Mike Mn

· Twin Cities, Minnesota


Forum_avatar_avatar-mike_mn

Aug 24 '08, 11:47 PM

Originally posted by MVG
Good afternoon all. Just formed an LLC to take advantage of real estate market. What is the best way to build up my credit in the LLC?
Thanks

What purpose do you see in having good credit on your LLC? Are you wanting to borrow money non-recourse? Are you trying to get loans off your credit report? Need more info.

Edited: 06/26/2010 at 05:45AM


Elena Margaritis

· Glendale, Arizona


Forum_avatar_avatar-em

Aug 29 '08, 01:48 AM

Open a bank account for your LLC and deposit money that you can borrow from or get a secured credit card against it, check which banks will do this. This will start building your credit. Then apply for trade credit, radio shack, home depot, office depot, I've heard are three places, maybe even dell.
Good luck!

Edited: 06/26/2010 at 05:47AM




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