I’m always looking for easy ways to improve the credit profile of my LLC. I’ve heard in several places that opening a credit line through Staple Office Supplies is an easy way to get a credit line on your profile - and it reflects directly on the business credit - not one’s personal credit.
My question is this: There are apparently two different business cards offered by Staples - the basic difference between the two is that one one you can carry a balance and on the other the balance is due at the end of each billing cycle. I don’t care about that feature and don’t plan on spending very much at Staples - but do you think that either of these cards reflects more favorably on one’s business credit profile?
There are several different aspects to your question:
-How much biz credit do your currently have established with your LLC?
-Do you have a DNB number, and if so, how many reporting tradelines do you have?
-If you have several reporting tradelines, what is your Paydex score currently for your company?
If you can’t answer these questions, don’t bother reading on, just go straight to creditboards.com and begin researching biz credit. If you can answer these questions, than read on:
If you have all the aforementioned stuff setup already, than yes, going for a Staples card would be the next logical step. The terms that require you to pay in full for each cycle are most likely net30 terms and if you already have your Paydex score established than you’re probably ready to move beyond net30 terms to a regular business credit card, or one that you can carry a regular balance on.
If you apply, and Staples wants a personal guarantee, then your biz credit profile is not ready for the card, and don’t bother furthering the application. Hopefully this info gets your started…