I was wondering if anyone has in-depth knowledge of the in's and out's of business credit. I have an LLC and 2 trade lines attached to it as well as a business bank account I've had since January. One of my trade lines is delinquent (a Pittany Bowes account) and I have business credit card that I've kept current. I'll be paying my PB account in full this week. With that in mind, how does this get reported to D&B and/or Experian? Does it work like personal credit where its on your report for seven years or is it set to current/not past due? Also my credit card is not being reported. How do I fix this? I have several debits coming out of my credit card monthly. Should they be reported as separate tradelines? Many more questions but I'll start with these ones.
I've used this one company a lot for business credit, it's called We Know Data, it's just another business credit report company. They also have a lot of great resources on their blog. I think a few resources that would be useful for you include:
- Business Credit vs. Personal Credit: discusses the importance of separating the two and how you can start separating each.
- Common Business Credit Questions: this article will answer your question on how long the data will stay on your business' credit report.
They offer 5 free business credit reports so that you can check it out and additional reports range from like $7-$12. Let me know if you have any other questions
There are some great podcasts on iTunes by Ty Crandall on establishing and maintaining business credit.
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