How to Get an 80+ PAYDEX Business Credit Score in Under 90 Days

Ever wondered how brand-new companies with little income are getting business credit cards left and right?…   when… Companies that have been in business for 2-5 years (and more) are slamming into brick walls and getting laughed out of their banks?

What do the savvy new business owners know that others don’t?…

Why “Credit Density” Matters More than Credit History

A pervasive myth is banks won’t give credit cards and loans to companies under 2-years-old.

While “credit age” matters, it’s a small piece of a much larger puzzle.

Consider these two examples…

Company A has been in business for five years, has three business credit cards (with on-time payments) and has $10,000 in business debt.

Company B has been in business for one and a half years, has fifteen vendor credit lines, five business credit cards and one paid business loan, and it also has $10,000 in business debt.

Which stands a better chance of getting a new business credit card – Company A who’s been in business three times longer, but has little credit experience…  or…  Company B who’s been in business a short time, but has much more credit experience?

The Answer: Company B

Which brings me to the real secret of rapid business credit building…

How to Build Business Credit Strategically

Just as you can’t get to 12th grade without going to kindergarten, first, it’s hard to get mammoth business financing without building a credit foundation, first.

The Empire State Building pierces 1,250 feet into the clouds, because it has a foundation nearly six stories deep!

Professional athletes practice the fundamentals day in and day it.  Without mastering the basics, the most advanced strategies are useless.

When you take time to build a rock-solid business credit foundation (it’s really easy to do), there’s no limit to the credit opportunities you can cash-in on later.

So, what are the three basic phases of building business credit?

Phase 1 – Open vendor lines of credit (often called Net 30 accounts) to get a PAYDEX business credit score.

Phase 2 – Open business credit cards to pave the way for getting business loans.  (This phase is further divided into stages, starting with easily-attainable business credit cards.)

Phase 3 – Get and pay-off two business loans.

These phases overlap, but you can’t move on to phases two and three without finishing the first phase – it’s that important.

What’s a PAYDEX Score and Why Do You Need it To Get Business Credit?

A PAYDEX score tells lenders how quickly your company pays its vendors and creditors.   Dun and Bradstreet, the largest business credit bureau, gives this score to companies requesting your business’s credit report.

It ranges from 1 to 100 – with an 80 PAYDEX indicating your business pays it’s creditors on-time.  Anything under 80 means your company pays its bills late; anything higher than 80 means it pays its bills before they’re due.

The other two major business credit bureaus, Experian and Equifax, have similar business credit scores.   However, by focusing on getting a high PAYDEX score, you’ll automatically establish business credit scores with them, in time.

Having an 80+ PAYDEX is a requirement to get most business credit cards.  That’s why most new and established businesses are turned-down for credit cards – because they don’t have PAYDEX scores.

3 Easy Steps to Getting an 80+ PAYDEX in Under 90 Days

It’s easy to get an 80+ PAYDEX. So easy, in fact, there’s no need to pay Dun & Bradstreet or a “credit builder” to do it for you.   All you need is at least four vendors to report your company’s on-time payments to Dun & Bradstreet.

But you can’t just get credit terms from any company.  For it to count (and build your business’s credit), each vendor must report your payment history to the business cr-edit bureaus.

Here’s a simple three-step formula for getting a PAYDEX, fast:

  1. First, get credit terms from companies you know report to D&B (i.e. Uline and Grainger)
  2. Second, order something on-credit. (Some vendors require you to prepay for your initial purchase, then they’ll extend your business credit on subsequent purchases.)
  3. Third, once they send you an invoice, pay it in-full before it’s due.

That’s it.   Just rinse and repeat with four to five other vendors, and in less than three months, you’ll get a PAYDEX score.

It takes a little longer to establish credit scores with Experian and Equifax, because not as many vendors report payments to them.  However, it will happen.  After you get (and use) credit accounts with 5-10 vendors, you’ll establish credit scores with all three credit bureaus.

Fortunately, finding vendors who report on-time payments to the bureaus (and are easy to get credit terms from) doesn’t have to be trial and error…

I’ve compiled an extensive list of companies who report to D&B, Experian and Equifax, saving you time and money and helping you get an 80+ PAYDEX in under 90 days.

It’s included in my Six Figure Business Credit Course, and you can get the complete system today on a completely risk-free basis.

Click here now to learn about Six Figure Business Credit and get instant access to the lists of vendors that help establish and build business credit.

I guarantee you’ll get at least $10,000 in business credit within the next six weeks when you apply these proven strategies, or I’ll refund every penny.   You have nothing to lose and more credit to gain when you check it out now! So click here now to learn about the course now while it’s fresh on your mind…