Low Interest Credit Cards

If you read the title and you do not know that PG means Personal Guarantee, and you are not certain what it means, you need to start with the business credit basics.

A PG is where you apply for a business credit card but you accept personal liability for the account in the event that the corporation cannot pay the debt. A couple years ago, there was the notion of removing the pg from the account after 6 months. This notion was being promoted over and over by many of the business credit gurus out there. This is only partially true.

Business credit cards with a PG come with two major differences. There are some that report to your personal credit report weather you default or not, and there are some that only report when you default. This makes a huge difference when you want to keep your debt ratios down. These two aspects of cards may both have the option to remove the personal guarantor from the account, but you must understand that in today financial climate, no back is going to remove a PG is as little as 6 months and many of the banks simply do not plan to ever remove the pg. I

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As business credit building is getting tighter, and fewer companies are reporting, we need every net 30 account that reports as possible. I am planning on publishing an updated list of net 30 accounts that report but as I get new ones I post right away. Let me first say that it has been really difficult to keep up with blog posts and emails since I have been dealing with a family matter but with a bit of luck things should be a little better soon. Anyway, back to building business credit. The name of the company is L3 Store, and it is an IT company. They propose net 30 terms and they report to DnB. Depending on who you talk to, they may say that they do or don’t, it all depends on if the person is a sales rep or a credit rep and knows what is going on. I have had success with acquiring an account with them with a new corp but they took about 30 days to report to DnB. I basically called the 800 number and told them I would like to obtain a couple things but I will like to know what credit facility they have for businesses. I

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These are just some importantphone  numbers that will come in handy while you start building business credit. Feel free to add to it in your comments.

Borders (734) 477-1039 – Fax Application (877) 254-9229 – Status Update

BP/Amoco Status Update (800)365-6204
Chevron/Texaco Business Card Status Update (888) 243-8358
Citgo Fleet; (734) 477-1039 – Fax Application (877) 254-9229 – Status Update
Citi AA: 888-662-7759
Citibank Status:800-645-7240, 800-288-4653, 800-750-7453
Conoco – Status Line, automated 1-866-289-5622
Experian Business:888-211-0728
ExxonMobil Business Card(800) 903-9966
Key Bank:800-254-2737
Lowes – Status; 1-800-445-6937
Lowes – Underwriter;1-866-232-7443
Lowes Fraud/UW: 800-444-1408
MBNA – 1-800-673-1044
Meijers MC (801) 517-5560
Office Depot – Staus Line, automated 1-800-767-1358
Office Depot;800-767-1358, 800-729-7744 automated line to check status.
Office Max – Status Line, atomated 1-800-283-7674
Philips 66: 866-289-5630, 800-610-1961
Phillips 801-779-7369
Radio Shack;1-800-442-7221
Sam’s UW:800-301-5546, 866-246-4282
Sears – Status; 1-800-599-9710
Shell Fleet Card Status Update(800) 223-3296
Shell: 800-223-3296, 866-438-7435
Shell; 800-377-5150
Staples – Status Line, automated 1-800-767-1275
Staples: 800-767-1291, 800-282-5316
Sunoco Corporate Card(800) 935-3387,(800) 278-6626
Sunoco: 800-310-4773
Target: 800-440-5317
Tiffany:800-770-0800
VALERO (800)324-8464 ACCOUNT STATUS
Valero;1-877-882-5376
Walmart;800-301-5546, underwriting 877-294-7548
Wright Express; 888-743-3893

Hope this helps. If you have any other numb

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Since I am gotten into the business credit industry I have gotten more questions than I will like to admit about buying real estate with business credit. A couple years ago it was possible, but extremely difficult to get a commercial mortgage with no PG, and it is simply impossible to get it now. Strangelyenough though, it may be easier than ever to buy real estate with business credit now.

You can buy homes cash. Yes, you read it right, with cash. This will mean that you will pay for the house in full without getting a mortgage. Basically you will have to find homes that are cheap enough to acquire enough business credit to buy it cash and still have the ability to afford the monthly payments. It seems that Detroit is giving us this opportunity. I am not saying that we could purchase homes, rent them out and sell them in a couple months and make a killing, but what I am saying is that Detroit lends for the ability to own real estate for a very affordable price.

I do not claim to be a real estate specialist but I have seen homes listed in Detroit for as little as $8000 which needed as little as $1000 in repairs.

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