Ask Experts Questions for FREE Help !
Ask
    Nise5280's Avatar
    Nise5280 Posts: 30, Reputation: 2
    Junior Member
     
    #1

    Jun 28, 2015, 10:18 AM
    I want to build a credit rating for my 2-year old business
    I started a small LLC Trucking/Transport company (one truck) two years ago, and have yet to build a credit rating. We just paid off the business/truck in January 2015 -- but we bought from an individual who closed his business the same day we opened ours. (he retired) I want to report this to the credit bureau, but do not know who to call. I have called several agencies, who all tell me to call someone else -- without telling me who that is. The individual we bought the business/truck from is happy to send whatever documentation necessary to have the purchase reflect on a credit report. Can someone please advise me who I am supposed to reach to start a small business credit rating? We did have a signed, notarized loan agreement with our seller, and both his and our documents reflect paid in full with no missed/late payments. Thank you. Nise5280
    joypulv's Avatar
    joypulv Posts: 21,591, Reputation: 2941
    current pert
     
    #2

    Jun 28, 2015, 04:13 PM
    I don't think you are going to start a credit rating with a purchase of a used truck from an individual. Credit starts with credit cards and mortgages and other types of bank loans. You don't notify anyone - credit bureaus get the data in huge bulk batches from lenders.

    For most of us, business or personal, credit starts with a credit card.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #3

    Jun 29, 2015, 01:17 AM
    Agreed, individual credit like that would be too easy to fake. Friends sending in for friends. Your business needs to get some gasoline credit cards, regular credit cards. Perhaps even a small loan so credit will be reported from credit card companies, and banks or loan companies.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

No credit records,where should I start to build my credit? [ 2 Answers ]

Hello,everyone I got a question. I didn't have any credit records yet since I've just moved to usa,and I didn't have a job either at present,where should I start to build my credit record then? I heard somebody said I can start applying a credit card named "security credit card",has anybody used...

Overseas Credit Card debt collection affecting credit rating in Canada? [ 1 Answers ]

I do live in Canada and I have an outstanding CC debt with a world-renown bank in the UK, but for reasons beyond my control I am unable to make overseas payments. It is not a matter of not trying or wanting to pay, but other reasons are involved... How could or will non-payment of a...

How to build Business credit history? [ 2 Answers ]

I have a Business (corporation) since 2005 and I always wanted to build credit with my Tax ID number and not with my social security number, but every time I tried they denied it for many reasons. I do not have bad record and paid taxes on time. Does somebody know how to start? Maybe and easy...

Credit rating [ 2 Answers ]

What drives me nuts. Is credit card companies, auto loans, mortgage companies. Always tell me it depends on your credit rating. Could be 6% to 12% I know my credit rating 702. I know they know it too. So why play this game? It would be naïve to think these organization would need your...


View more questions Search