On Thu, 04 Jul 2013 15:40:15 -0500, Ignoramus12069
wrote:


I have a corporation since 1998. I have never borrowed any money for
the corporation. My view on borring money for business is very simple,
if I do not have money for something, I do not do it.

But, it so happens that from time to time, I need to establish an
account with a new vendor, they check my credit history and tell me
that I have no credit history.

I am loath to borrow money, but maybe I can borrow some small amount
for a few months just to establish some credit history? what is the
easiest way to acquire a credit history?

Thanks

i

AFAIUI..

Ask for credit, get it, use it (ie. buy substantial quantities of
stuff and pay for it on time) and use that to get other accounts. It's
easy to get credit from vendors such as couriers to start with (and
you may need to back it up with a CC or something like that to start
with). If you want a bad credit history, just don't pay some stupid
rip-off bill.

The bank is only one source of credit information- potential creditors
are going to want to know whether you treat suppliers well too.

If you extend credit to customers, you've no doubt been asked to
provide credit references yourself so you know what they are looking
for (your credit limit extended, payment promptness etc.).

Typical credit application:
http://www.digikey.com/Web%20Export/Info/CreditUS.pdf

Then you can apply for a DUNS number and get D&B rated.

Note that credit ratings are not necessarily always used for things
you may entirely approve of. For example, before litigation the
plaintiff's law firm may run a credit check to see whether it will be
worth their while.