Business Credit Lines, New York: Using Business Credit Cards Effectively-Free CD Shows You How

July 7, 2008 - PRLog -- Business owners have learned how obtaining a business credit card is one early step toward building business credit.  Pat Gage explains this is not the same as using personal credit to obtain a credit card with a business name on it. Obtaining a business credit card relies on business credit information, not on personal credit information.  It might be necessary to use personal credit to get started; after fulfilling certain basics, a business should be able to rely on itself for credit.

Pat explained the basics including incorporating a business as a legal business entity. This does not include DBAs (individuals Doing Business As company x). One should consult a local business attorney about incorporations that are available in their state.
Another basic for building business credit is establishing a business phone that matches the business address in the national 411 directory. Even business cell phone service can be set up for this. Residential addresses are okay, too. Just be sure to be listed as a business in 411 and that all information is correct. Always give lenders this same information.

The last basic step Pat covers involves building credit with vendors. If one is in the service industry, they can develop accounts with their office supply, internet, and phone service providers.  

Pat concludes by explaining the application process after the above basics are met.  A solid business will be able to fill out the applications with all business information; business sales numbers, assets and liabilities, creditors (vendors) and business references.  No personal information should be included in the application.  One last bit of advice:  use the business credit card wisely; this is the beginning to  building a credit profile for applying for larger lines of credit as the business grows.

Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty - starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach, but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com

Contact:
Destiny Now, LLC
33006 7 Mile Road Suite 423
Livonia, MI 48152
Phone: 734-261-0688
Toll Free: 877-262-0688
Fax: 734-422-6168
Email: info@opportunitycreator.com
This press release was submitted by Right Now Marketing Group, LLC

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Pat Gage, The Opportunity Creator, and a leading expert in the field of business credit has helped a number of clients target his specialty, starting, expanding, and growing their businesses through his trademarked 10 Steps to Money System. The Opportunity Creator is not only a sought after business credit coach but also a national speaker. For more information on any topic discussed, visit Gage’s site at http://www.10stepstomoney.com