How do I get business credit cards and business loans with a 80 Paydex score?
Many people have come across misleading information of getting business credit cards with a 80 Paydex score. First, you must understand a paydex score is a three digit number that given to a business from Dun and Bradstreet. This number is generated once a business has four or more business tradelines or vendors reporting to them.
Once you’ve generate this number trade vendors use this number to make a decision on whether they are willing to offer your business credit. The higher the paydex score the better your chances are to being approved for credit. If you have a paydex score below 80 points this lets the creditor know you are not paying your other vendors on time.
Now, if you’re trying to build your paydex score to get business credit cards or business lines of credit, there are other factors that are used to determine,if you’re going to get approved for business credit. When you apply for business credit cards or business lines of credit, most lenders will want to look at your personal credit, your business bank statements, or your business financials.
The paydex score is irrelevant at this point when trying to get cash and credit for your business. This is the reason we suggest people to stop wasting money on Net30 accounts and just fixed their personal credit and put the money into a business bank account.