New comment by vyper91 in "Ask HN: Who is hiring? (August 2021)"

Smart Spaces | Flutter Developer | London, UK | Hybrid/Remote | Full-time / Part-time | https://www.smartspaces.app/about/

We are looking for a Flutter developer to help our fast-growing mobile app flourish as beautifully and reliably as possible.

We’re building the future of workspaces leveraging technology to create greener, smarter and more connected offices of the future – and are looking to grow our mobile team.

Looking for developers with at least 2 years of experience working in industry and a good understanding of Flutter, and interested in both part and full-time roles.

Tech-stack is Flutter, Native iOS/Android, and also C# .NET for any full-stack applicants.

Please do email your CV and a small cover letter if interested.

k.patel@smartspaces.app

The Top 7 Cash Back Business Credit Cards

Check Out the 7 Best Cash Back Business Credit Cards

Take advantage of our research and check out the seven best cash back business credit cards we could find.

Cash back usually comes in the form of a low percentage rebate, such as 1 – 5%. Some card issuers offer unlimited cash back. Others offer bonus amounts for chosen category spending or meeting a spending threshold within a certain amount of time after account opening, like $750 if you spend $7,500 in the first three months after account opening. Statement credits and signup bonuses are similar, the main difference is how you get the money – check, credit, points, or something else.

The Best Cash Back Business Credit Cards for You

There are differences among cash back business credit cards, and they go beyond the percentages. A high cash back credit card might require a very high spend in a short amount of time. Or a cashback credit card might not offer categories that work for you. Or cash back offers may come with too many strings attached. We sifted through over 100 business credit cards to find cashback credit cards to fit several different circumstances – including yours!

One Thing to Keep in Mind

Terms and rates for cash back business credit cards are subject to change. In particular, many annual percentage rates are tied directly to the Prime Rate. Banks and other credit providers sometimes add or drop features, or even credit cards. The best source for all credit card information is always directly on the provider’s website.

Let’s start with three honorable mention cash back business credit cards.

Honorable Mention: Get 3% Cash Back with High Credit Limits: Zions Bank Visa Amazing Cash® Business Credit Card

Get to know the Zions Bank Visa Amazing Cash® Business Credit Card. You get 3% cash back on select business purchases, including office supplies, cell services, internet, telecom, and cable TV. And get 2% cash back on select business travel purchases, including airlines and vehicle rentals. Get 1% cash back on everything else. Pay a 0% introductory APR on balance transfers for the 12 months after account opening, then pay a 14.24% variable APR afterwards. A 3% balance transfer fee for each transfer ($10 minimum) applies.

Get a credit limit up to $250,000. You will pay no annual fee. There are no rewards fees. 0% introductory APR for the first 6 months after account opening, then 14.24% variable APR afterwards. It is entirely possible that some of the other reviewed cards have better upper limits, you will need to check when you apply.

Honorable Mention: Get a Cash Back Bonus: PNC Bank Cash Rewards® Visa Signature® Business Credit Card

Check out the PNC Bank Cash Rewards® Visa Signature® Business Credit Card. Get a $200 bonus if you spend $3,000 in the first 3 billing cycles after account opening. Get 1.5% cash back on net purchases, with no cash back limits. Pay no annual fee. You will pay a 0% APR for the first 9 billing cycles after account opening, then 10.99-19.99% variable APR, based on creditworthiness. It boasts  mostly lower interest rates and a fairly easy to meet minimum spend. To get a bonus, this card is decent if you can’t or won’t spend too in such a short amount of time after getting the card.

Honorable Mention: Get Cash Back and Qualify Even with Fair Credit: Capital One Spark Classic Business Credit Card (Visa)

The Capital One Spark Classic Business Credit Card (Visa) can work if you have fair credit. You can earn 1% cash back with every purchase, with no minimums. Pay no annual fee. You will pay 26.99% variable APR for both purchases and cash advances. The minimum credit line is $300.

The cash back percentage is low, and the interest rate is higher than for the other cards reviewed. But if your credit is only fair, or you don’t have a very long credit history, this card could be right for you.

#7: Get 3% Cash Back with an Annual Bonus: US Bank Business Cash Rewards World Elite™ Mastercard®

Check out the US Bank Business Cash Rewards World Elite™ Mastercard®. Earn to 3% cash back on eligible gas station, office supply store and cell phone/service provider net purchases. All other purchases earn 1% cash back. Purchases of gasoline greater than $200 will not be deemed to be a purchase of automotive gasoline, and as such will earn a reward of 1%.

Get $500 cash back if you spend $3,000 in the first 90 days from account opening. Earn a 25% annual bonus based on your prior year’s cash rewards, to $250. Pay no annual fee. You will have a 0% introductory APR for the first 12 billing cycles. After that, 13.99-22.99% based on creditworthiness.

To hit the bonus limit, you would have to have spent over $33,000 in the previous year. Still, the initial spend requirement isn’t too bad. You can meet it with purchases of computers or the like. The APR after the introductory period is acceptable. If your credit is such that you qualify for the lower APR, this card could turn out to be a better deal than our #6.

Score the best business credit cards for your business. Check out our professional research.

#6: Get 3% Cash Back in Limited Categories: First Hawaiian Bank MasterCard Cash Rewards Business Credit Card

Check out the First Hawaiian Bank MasterCard Cash Rewards Business Credit Card. You get 3% unlimited cash back on gas and dining. Get 2% unlimited cash back on utilities, and 1% unlimited cash back on everything else. There is no annual fee.

Pay a 15.49% APR. Earn a $200 credit with a $2,000 spend in the first 3 months from account opening. With its fairly low spend requirement, no annual fee, and decent (but not exceptional) APR, this can be a good card. In particular, it can work well if your business requires you to travel by car and entertain clients on the road.

#5: Get 4% Cash Back for a Limited Time: Citi Bank Costco Anywhere Visa® Business Card

With the Citi Bank Costco Anywhere Visa® Business Card, get 4% cash back on eligible gasoline purchases, including buying gas at Costco. But this is only for the first $7,000 per year. After that, get 1% cash back. Get 3% cash back on restaurant and eligible travel purchases. Earn 2% cashback on all other purchases from Costco and Costco.com. Get 1% cash back on everything else.

There is no annual fee. There are no foreign transaction fees. But you must be a Costco member before applying. Pay a 15.24% variable APR.

While the 4% cash back offer is limited to just the first $7,000 per year, you will have to buy over 2,000 gallons of gasoline if they average $3.50 per gallon to hit the limit. If you think it’s unlikely you would meet that limit, and you’re a Costco member, this could be a good card. It’s got an APR that is decent but not as good as our #4’s rate.

Score the best business credit cards for your business. Check out our professional research.

#4: Get 4% Cash Back Until You Hit a Spend Limit: Huntington Bank MasterCard Voice Business Credit Card

With the Huntington Bank MasterCard Voice business credit card, earn 4% cash back on the first $7,000 spent per quarter in one category of your choice. There is a choice of 10 categories.. Hence the annual spend limit for 4% cash back is $28,000. Earn 1% cashback on all other purchases.

There is no annual fee, and no foreign transaction fee. Pay a 10.99-21.99% APR based on creditworthiness, tied to the Prime Rate. If you know you won’t meet the spend limit, and your credit is already good so the APR is on the lower side, this could be an outstanding card.

#3: Get 5% Cash Back on Amazon Purchases Only: Amazon Prime Store Card

Get 5% cashback on Amazon purchases with the Amazon Prime Store Card. Pay no annual fee. You get a $60 Amazon gift card upon application approval. However, limits seem to be low. There are reviews on the Amazon website and you should check them before applying.

If your business makes a lot of Amazon purchases, this could be one of the best cash back business credit cards for you. If not, it likely has too many limitations.

#2: Get 5% Cash Back in 2 Categories: Bremer Bank Visa Max Cash Preferred

The Bremer Bank Visa Max Cash Preferred card is particularly good if you can pay your credit bills on time and avoid paying interest. Earn a $150 bonus reward if you spend $500 in the first 90 days from account opening. The spending threshold required for a bonus is comfortably low. You will probably meet it if you charge a decent computer on this card. Also get 2% for one everyday category, otherwise get 1% unlimited cash back. There is no annual fee.

All annual percentage rates for interest will vary with the Prime Rate. Pay a 14.49-23.49% APR for purchases based on creditworthiness. Pay a 0% introductory APR for the first 12 billing cycles for balance transfers, and then 14.49-23.49% APR based on creditworthiness.

Get 5% Cash Back in 2 Categories: Alternatives to Bremer Bank

Note: Busey Bank offers the identical credit card, with the exact same rates and fees. The main difference is Bremer is headquartered in Minnesota, whereas Busey is based in Illinois.

First American Bank also offers the identical credit card – they are also based in Illinois.

Since there are no differences among these three offers, your best bet is to choose based on convenience or bank specialty or the like.

Score the best business credit cards for your business. Check out our professional research.

#1: Get 5% Cash Back on Flat Spending: Chase Bank Ink Business Cash®

For good interest rates, and a high percentage in cash back, check out this card. Pay 0% APR on purchases for the first 12 months, and then 13.24-19.24%. Pay no annual fee.

With the Chase Bank Ink Business Cash® card, you get 5% cash back on the first $25,000 you spend on certain business products, i.e. office supply stores, internet, cable, and phone services. This works out to 4% additional cash back rewards on top of 1% cash back rewards earned on each purchase. The $25,000 flat spending limit resets every year. You can get $750 bonus cash back if spend $7,500 in the first 3 months after account opening.

But unlike with some other cards, it can be harder to hit the minimum spend amount. The agreement does not prohibit using your card to buy pricier items such as plane tickets, vehicle repairs, or even heavy equipment. Still, you may find that using other means, such as equipment financing or fleet credit, would make for a better deal for your business.

While we do feel this is the best of the cash back business credit cards we reviewed, if you cannot meet the spend minimum, our #2 choices are a lot better.

Takeaways for the Top 7 Cash Back Business Credit Cards

The business credit cards we reviewed offer cash back deals running from 1% to 5%. Annual percentage rates run from 10.99% t0 26.99%, with many cards offering a 0% introductory APR for a limited time. Some cards offer monetary bonuses, often dependent upon spending a minimum amount during a short window of time. Limits and qualifications were not easy to find online – so ask! And always check a provider’s website for the latest and most accurate details on any business credit card that interests you.

The post The Top 7 Cash Back Business Credit Cards appeared first on Credit Suite.

PPC Consulting

You have developed a killer website and drafted an effective marketing strategy to generate leads and drive sales.

So what next?

Considering paid advertising offers a 200% ROI, it’s a no-brainer that your marketing strategy should incorporate the same.

“But I have no idea where to start with Google ads – in fact, I don’t know where to begin at all!”

Well, even if that’s the case, you still have nothing to worry about.

You can hire a PPC consultant who can enhance your paid advertising campaigns by offering a unique set of skills coupled with experience and expertise.

Choosing the right consultant, however, can be challenging if you don’t know what to look for in a PPC expert, which is where we come in.

Our team at Neil Patel Digital has created this handy guide to help you find the best PPC consultant for your business – one that can manage your campaigns, keep up with continuous algorithm updates, and deliver results.

Let’s start with how a PPC consultant can help you grow your business.

5 Ways a PPC Consultant Can Help Grow Your Business

What is the primary reason that people hire PPC consultants? Maximizing business performance.

People who run an online business question the need for launching pay-per-click campaigns, and whether it’s the right thing to do.

We have to clear one thing out before we talk about the benefits of hiring expert help – it IS worth it!

That said, let’s take a look at what a good PPC consultant can do to help you grow your business. 

Thorough Market Research and Plan of Action

A PPC consultant can be your go-to when you‘re unable to do market research, execute the right type of strategies, or launch successful marketing campaigns that help you achieve your business objectives. 

Additionally, you can also make critical mistakes when you work without experience – something that can cost you significant money or achieve zero results.

On the other hand, there are other solid reasons why you should hire a professional. 

A PPC consultant will prioritize your marketing campaigns and think of the intelligent implementation of paid marketing tactics that can enhance campaigns. You’ll also get better and more relevant marketing strategies to drive your online sales.

In the end, you‘ll have better pay-per-click management that will give you more exposure in search engines.

Precise Targeting for Higher Conversion Rates

A savvy PPC manager can be doubly beneficial for your business.

With their help, you‘re assured of wiser PPC decision-making that can cause a decrease in expenses and increase conversion rates. 

Plus, PPC experts can analyze your data and make required adjustments that can lower your cost per lead for a higher ROI.

As for conversion rates, they can use their experience and expertise to implement tactics, such as using precise keywords and put your sales team in contact with quality leads. All the efforts are targeted towards a specific audience in your niche that can be niched down according to location, gender, age, interests, and of course, keywords.

Audience targeting should always be strategic and carefully executed. It’s the only way to avoid wasting your money on paid campaigns – something that a PPC expert can help you with.

The best part is all this requires minimal effort on your part, and even the PPC consultant’s due to their specialized knowledge.

Compelling Ads That Actually Convert

Make no mistake, writing an attention-grabbing ad copy is an easy task – but only at the surface. In fact, knowing how to create a PPC ad can have a massive impact on the ads click-through rate.

You need expert help to create a truly artistic strategy to attain ad campaign success. A PPC consultant is well versed in the know-how to create an effective ad copy that appeals to your target customer and can relate to their interests. They can also use the necessary keywords for optimization to rank higher in search engines.

So with the help of a professional, not only will your ad get more exposure, but you’ll also experience an increase in your conversions.

Years of Experience

You may already be aware of how experience often translates to expertise.

Reputable PPC professionals have years of experience working with a diverse clientele, which helps them contribute to their profit-making campaigns. 

These experts have the backing of innovative skills and knowledge to keep your ads updated and in sync with the latest web trends that can be the driving factor of your paid campaigns.

You shouldn’t worry about the money you might pay for a consultant. Instead, it’s the time wasted when trying to learn Google or Amazon that should be a worrying factor. Unsatisfactory results are another disadvantage when you take on PPC without prior knowledge.

Moreover, a professional will dedicate their whole time to your projects and make sure you set the right bid amount according to the order value, ACoS goals, and conversion thanks to their greater understanding of bid management.

Time-Saving

Pay-per-click marketing can be equal parts challenging and time-consuming, especially for those who aren’t experts.

A PPC professional can help you launch and monitor all your ad campaigns, along with making minor adjustments that could potentially boost your sales. Also, when you turn the work over to these consultants, you’ll be able to focus on other aspects of your online business.

How to Get Started With a PPC Consultant

If you haven’t worked with a PPC company before, it’s hard to know what to expect.

Right from hiring the right PPC consultant to holding meetings right till the final launch – you need to draft a roadmap that explicitly illustrates your end goal as well as milestones to stay on the right track.

Below, we have streamlined the details of every phase to help you understand what to expect when working with a PPC consultant.

Hiring the best PPC consultant for your business

The first step here is to find the right PPC consultant to get started in your paid marketing journey. And the best way to go about this? Research and look at the credentials of respective candidates.

There are two ways to go about this. You can use online hiring platforms like Freelancer, Upwork, and Reddit, where you’ll post a detailed project description, along with the requirements. You can then choose a freelancer profile from the applied candidates.

If you plan on recruiting seasoned consultants – something which we highly recommend – you’ll have to fill up an inquiry form and then schedule a discovery call.

Whatever be your marketplace of choice, determining the abilities of the prospective candidate remains the same. Ask the prospect the following questions to understand whether they are the right fit or not:

  • Are you Google-certified?
  • Do you offer a free assessment?
  • Who will own the account?
  • Will you provide ongoing management of the account or solely look after the setup?
  • How do you measure success, and what are the deliverables?
  • Are you familiar with Google Analytics?

It’s best to look for consultants who possess the Google AdWords Certified Partner designation since they are likely to understand the latest trends, techniques, and technology relevant in the world of PPC advertising. 

A thorough understanding of account setup and management, analytics and reporting, and optimization in areas such as video, search, and mobile advertising, are also crucial.

Remember, it’s your money, and the prospective PPC consultant should respect that and be willing to clear any doubts.

Have a Discovery Session

It’s the job of the PPC consultant to do everything they can to learn more about your business objectives and what you’re looking for, which is precisely why discovery and onboarding are a crucial part of any new PPC project.

Here are a few key points that your meeting should cover:

  • Your budget, which includes monthly ad spent
  • Goals you wish to achieve through your PPC campaign
  • What are the USPs of your business when compared to your competitors
  • Landing page optimization tactics to increase conversions
  • Detailed observation of your target audience that includes platforms to use, shopping trends, and location

Take this chance to share everything you have with your PPC consultant – even if it doesn’t feel relevant. The consultant must be aware of your expectations and budget.

Planning and Testing

After understanding your business, target audience, and marketing goals, the next step is to plan the upcoming campaign. In addition to this, defining critical metrics and KPIs are essential as well.

The consultant may run a small, inexpensive pilot campaign to test different aspects, such as audience segments, copy, and execution. This can give you key insights about the preferences of your target audience and a deeper understanding in general of how to proceed forward.

The Final Execution 

Finally, at this stage, you launch the full campaign.

The full-scale execution of the campaign can be short-term, long-term, or ongoing, depending on your needs. You can expect consistent feedback and thorough reporting from the consultant that outlines everything about the campaign, and the final results once it’s over.

Remember, monitoring results and adjusting the budget are all a part of the campaign. The consultant should use the insights collected, along with your feedback, to improve the ad strategy for better results.

In case the consultant doesn’t offer management services, they will only set up the account.

Measuring the ROI of PPC Consulting Services

What’s the point of launching a PPC campaign if you cannot measure the return on your investment?

Is your campaign strategy correct? Are the ads effective in generating leads and sales for your business? Is it profitable? – these are important questions that you need answers to.

The only way to determine the success of a campaign is to measure the ROI.

That said, there are various KPIs, which is why you need to have an efficient tactic in place to choose the relevant ones. For this purpose, you need to figure out the following:

  • Understand the goals of your campaign – whether you want more click-throughs, more leads, or higher sales. The ultimate goal, of course, is to increase conversions and reduce CPA. But there are other things you should consider as well, such as monitoring impression share and the effectiveness of your ads in generating clicks (CPR).
  • You can even consider setting SMART goals to measure the overall progress and success of your goal.
  • Figure out about what success means to you and then define it to your consultant.
  • Monitor the KPIs closely and then reevaluate if there is still any discrepancy.

The following are the most crucial PPC KPIs that you should consider:

  • The average click-through rate
  • The quality score of your ad content
  • The impression share that tells you how many people has have seen your ad
  • The average cost-per-click (CPC)
  • The conversion rate
  • The cost for action/cost per conversion
  • The average position of your ad

Tracking ROI is a dynamic process with no uniform rules to follow. Make sure you choose your KPIs after setting realistic goals for your business, which, in turn, can help you achieve your goals.

4 Point Checklist For Finding the Right PPC Consultant

If you’re still wondering how you can hire the best PPC consultant for your company who has the necessary understanding and expertise to deliver results, here’s a quick checklist to make things easier for you.

Experience in Driving Results

You’ll find several PPC consultants claiming to be the best and how they can help you achieve your goals.

But do they really have the expertise and experience to back their claims?

Figure out whether the consultant has previously worked with clients in your niche and is aware of how your business ecosystem, your competition, and your audience work. The idea here is to fast-track your campaign strategy, creation, and management processes.

Knowledge About PPC Best Practises and Tools

PPC can be a very complicated process, which is why you need a consultant that has the knowledge to keep up with the latest practices.

Having access to the right PPC tools is also important. Essential aspects like analytics and reporting and intent-driven keyword selection, along with first-party data sources and strategic partnerships, work together to enhance the efficiency of campaigns.

Find out the tools that the consultant uses, whether it’s Google Analytics, Certified Knowledge, Excel, and Adalysis.

Diverse Client Portfolio

Examine the companies on the prospective consultant’s portfolio. You‘ll be surprised at how useful this can be to detect whether they are the right fit for your business or not.

You see, a good PPC consultant should always demonstrate hands-on experience and have a diverse clientele. This equips them with a better understanding to create effective paid campaigns that appeal to your target audience, irrespective of their thought process and ideologies.

Testimonials From Past Clients

Testimonials help gain a sense of the caliber of the businesses that have trusted them in the past.

By going through what past customers have said about their services will give you an idea about their professionalism and whether they are capable of providing a comfortable and satisfactory working experience.

Wrapping Up

The world of PPC marketing isn’t simple.

You need experienced consultants to create and execute well-thought-out campaigns that can help you achieve your business objectives and keep any losses at the minimum.

Hiring a consultant can be your first step to ensure positive returns on your investment and establish a loyal customer base.

Want somebody seasoned and enjoys a stellar reputation when it comes to delivering results? Get in touch with experts from Neil Patel Digital here.

The post PPC Consulting appeared first on Neil Patel.

How to Establish Business Credit for the First Time in a Recession

As the novel coronavirus changes our economy, you may be wondering if you even can establish business credit for the first time in a recession. You most certainly can! And here’s how.

Establish Business Credit for the First Time in a Recession

Establishing small business credit means that your company gets opportunities you never knew you would. You can get all-new equipment, bid on realty, and cover the company payroll, even when times are a bit lean. This is specifically helpful in seasonal companies, where you can go for calendar months with solely hardly any sales. It’s time to establish business credit for the first time in a recession.

Yes, this can even happen during a bleak economy.

Given this, you should really work on developing your company credit. Improve and maintain your scores and you will have these chances. Do not, and either you do not get these chances, or they will set you back you a lot more. And no company owner wants that. You ought to recognize what affects your company credit before you can make it better.

Establish Business Credit for the First Time in a Recession: Business Credit Building

Small business credit is credit in a business’s name. It doesn’t tie to an owner’s consumer credit, not even when the owner is a sole proprietor and the sole employee of the business.

Thus, an entrepreneur’s business and individual credit scores can be very different.

The Benefits

Considering that business credit is independent from personal, it helps to secure a business owner’s personal assets, in the event of litigation or business insolvency.

Also, with two distinct credit scores, an entrepreneur can get two separate cards from the same merchant. This effectively doubles buying power.

Another benefit is that even startup businesses can do this. Going to a bank for a business loan can be a formula for frustration. But building small business credit, when done correctly, is a plan for success.

Consumer credit scores depend on payments but also additional components like credit usage percentages.

But for business credit, the scores truly just hinge on whether a company pays its bills on a timely basis.

Establish Business Credit for the First Time in a Recession: The Process

Building small business credit is a process, and it does not happen automatically. A company has to actively work to develop business credit.

That being said, it can be done easily and quickly, and it is much speedier than developing consumer credit scores.

Vendors are a big component of this process.

Performing the steps out of order will lead to repetitive rejections. Nobody can start at the top with company credit. For example, you can’t start with retail or cash credit from your bank. If you do, you’ll get a denial 100% of the time.

Establish Business Credit for the First Time in a Recession: Company Fundability

A company must be fundable to lending institutions and merchants.

For this reason, a company will need a professional-looking web site and email address. And it needs to have website hosting bought from a company such as GoDaddy.

Plus, business telephone and fax numbers ought to have a listing on ListYourself.com.

In addition, the company telephone number should be toll-free (800 exchange or the equivalent).

A company will also need a bank account devoted strictly to it, and it has to have every one of the licenses necessary for running.

Licenses

These licenses all must be in the accurate, correct name of the small business. And they must have the same small business address and phone numbers.

So bear in mind, that this means not just state licenses, but potentially also city licenses.

Learn more here and get started toward building business credit attached to your company’s EIN and not your SSN. Get money even in a recession!

Establish Business Credit for the First Time in a Recession: Dealing with the Internal Revenue Service

Visit the IRS website and get an EIN for the business. They’re free of charge. Pick a business entity such as corporation, LLC, etc.

A company can begin as a sole proprietor. But they will more than likely want to switch to a variety of corporation or an LLC.

This is in order to lessen risk. And it will take full advantage of tax benefits.

A business entity will matter when it pertains to tax obligations and liability in the event of litigation. A sole proprietorship means the owner is it when it comes to liability and taxes. Nobody else is responsible.

Sole Proprietors Take Note

If you operate a business as a sole proprietor, then at least be sure to file for a DBA. This is ‘doing business as’ status.

If you do not, then your personal name is the same as the company name. Therefore, you can find yourself being directly responsible for all company financial obligations.

Also, according to the Internal Revenue Service, using this structure there is a 1 in 7 chance of an IRS audit. There is a 1 in 50 probability for corporations! Steer clear of confusion and drastically lower the odds of an Internal Revenue Service audit simultaneously.

But don’t look at a DBA filing as being anything beyond a steppingstone to incorporating.

Establish Business Credit for the First Time in a Recession: Kicking Off the Business Credit Reporting Process

Start at the D&B website and obtain a free D-U-N-S number. A D-U-N-S number is how D&B gets a company in their system, to produce a PAYDEX score. If there is no D-U-N-S number, then there is no record and no PAYDEX score.

Once in D&B’s system, search Equifax and Experian’s websites for the business. You can do this at www.creditsuite.com/reports. If there is a record with them, check it for correctness and completeness. If there are no records with them, go to the next step in the process.

In this way, Experian and Equifax will have activity to report on.

Vendor Credit

First you need to build trade lines that report. This is also called vendor credit. Then you’ll have an established credit profile, and you’ll get a business credit score.

And with an established business credit profile and score you can start to get retail and cash credit.

These kinds of accounts often tend to be for the things bought all the time, like marketing materials, shipping boxes, outdoor work wear, ink and toner, and office furniture.

But first of all, what is trade credit? These trade lines are credit issuers who will give you starter credit when you have none now. Terms are usually Net 30, instead of revolving.

Hence, if you get an approval for $1,000 in vendor credit and use all of it, you must pay that money back in a set term, like within 30 days on a Net 30 account.

Learn more here and get started toward building business credit attached to your company’s EIN and not your SSN. Get money even in a recession!

Details

Net 30 accounts must be paid in full within 30 days. 60 accounts must be paid completely within 60 days. In contrast to with revolving accounts, you have a set time when you have to pay back what you borrowed or the credit you made use of.

To launch your business credit profile properly, you ought to get approval for vendor accounts that report to the business credit reporting agencies. As soon as that’s done, you can then make use of the credit.

Then repay what you used, and the account is on report to Dun & Bradstreet, Experian, or Equifax.

Vendor Credit – It Makes Sense

Not every vendor can help like true starter credit can. These are merchants that will grant an approval with very little effort. You also want them to be reporting to one or more of the big three CRAs: Dun & Bradstreet, Equifax, and Experian.

You want 3 of these to move onto the next step, which is retail credit.

Store Credit

Once there are 3 or more vendor trade accounts reporting to at least one of the CRAs, then move to store credit. These are service providers such as Office Depot and Staples.

Only use your Social Security Number and date of birth on these applications for verification purposes. For credit checks and guarantees, use the business’s EIN on these credit applications.

Fleet Credit

Are there more accounts reporting? Then move onto fleet credit. These are service providers such as BP and Conoco. Use this credit to buy fuel, and to fix and maintain vehicles. Only use your SSN and date of birth on these applications for verification purposes. For credit checks and guarantees, make certain to apply using the small business’s EIN.

Learn more here and get started toward building business credit attached to your company’s EIN and not your SSN. Get money even in a recession!

Cash Credit

Have you been responsibly handling the credit you’ve up to this point? Then move to more universal cash credit. These are service providers such as Visa and MasterCard. Just use your Social Security Number and date of birth on these applications for verification purposes. For credit checks and guarantees, use your EIN instead.

These are often MasterCard credit cards. If you have more trade accounts reporting, then these are in reach.

Establish Business Credit for the First Time in a Recession: Monitor Your Business Credit

Know what is happening with your credit. Make sure it is being reported and take care of any mistakes ASAP. Get in the habit of taking a look at credit reports. Dig into the details, not just the scores.

We can help you monitor business credit at Experian and D&B for a lot less.

Update Your Information

Update the details if there are inaccuracies or the information is incomplete.Establish Business Credit for the First Time in a Recession Credit Suite

Establish Business Credit for the First Time in a Recession Fix Your Business Credit

So, what’s all this monitoring for? It’s to dispute any errors in your records. Mistakes in your credit report(s) can be fixed. But the CRAs normally want you to dispute in a particular way.

Get your small business’s PAYDEX report at: www.dnb.com/about-us/our-data.html. Get your company’s Experian report at: www.businesscreditfacts.com/pdp.aspx?pg=SearchForm. And get your Equifax business credit report at: www.equifax.com/business/credit-information.

Disputes

Disputing credit report inaccuracies typically means you send a paper letter with copies of any proof of payment with it. These are documents like receipts and cancelled checks. Never send the originals. Always send copies and keep the originals.

Fixing credit report inaccuracies also means you specifically detail any charges you challenge. Make your dispute letter as understandable as possible. Be specific about the problems with your report. Use certified mail so that you will have proof that you mailed in your dispute.

Establish Business Credit for the First Time in a Recession: A Word about Building Business Credit

Always use credit responsibly! Don’t borrow beyond what you can pay off. Track balances and deadlines for payments. Paying off promptly and completely will do more to increase business credit scores than just about anything else.

Establishing company credit pays off. Excellent business credit scores help a business get loans. Your loan provider knows the company can pay its debts. They understand the company is for real.

The company’s EIN links to high scores and loan providers won’t feel the need to call for a personal guarantee.

Establish Business Credit for the First Time in a Recession: Takeaway

Business credit is an asset which can help your business for years to come. It’s time to get started on how to establish business credit for the first time in a recession. Or at any other time! The COVID-19 situation will not last forever.

The post How to Establish Business Credit for the First Time in a Recession appeared first on Credit Suite.

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