There are many different kinds of enterprise credit score. It can be confusing and sort out all of the options available to your enterprise. The basic kinds of credit score are: Net 30 records, spinning store records, credit cards, history of credit score, and enterprise financial loans. Below we explain several kinds of credit score records in an straightforward format.

Net 30 is a credit score term meaning you must pay within 30 days. Some companies use net 15, net 10, but it essentially means that is how many days you have before the full transaction must be made. Paying early can only help your enterprise credit score. Ne 30 records will help you get trade lines coverage on your credit score. Cell phone service, office supplies online, and shipping services are some of the things that can be had with Net 30 records.

Store Credit Store credit score is offered at businesses like Office Store, Home Store, and Dell. Most of the time these records are spinning (you can pay a minimal transaction each month) and are tougher to get than Net30 records. It is ideal to have 4-5 tradelines coverage on D&B or 3-4 on Experian Business before you start applying for Store Credit.

Recently, more and more retailers require at least 3 years in enterprise to get a NON-PG greeting card. Examples of Store Credit for business: Home Store, Dell, Amazon.com

Business Credit Card

Business credit cards can either be PG or NON-PG. PG stands for "personal guarantee." If you have a favorable credit score score ratings and do not mind being liable for the debt then go ahead and apply for the PG credit cards. NON-PG enterprise greeting card printing are tougher to get than store credit cards and the bank may require financial statements.

Business LOC

A history of credit score is essentially like a charge greeting card mixed with a checking account. You have access to any amount of credit score up to the limit. You can use it when you need it. The payments will be treated like a charge greeting card with a minimal transaction on the part of the limit you are using. Interest rates are usually comparable to credit cards.

Business Loans

Car dealerships offer enterprise credit score as well. Some offer enterprise car financial loans with no PG! Ask about the requirements at your local store for commercial vehicle financing. The store may be able to pre-approve you for a certain amount of credit score before you choose a vehicle.

This should give you an understanding of what kinds of credit score are available to your enterprise.