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Since corporate credit is different from personal credit what number do i use to get a corporate credit card?
I know corprate credit is different from personal credit. I have bad personal credit and want to incorporate myself with a ghost business while my credit finishes repairing itself. (I am working on good credit).
What I am asking is how do I build my corporate credit without using my personal credit and do I just use my tax ID number when applying for corporate credit?
I may be having trouble explaining everything I am looking for an answer to. How easy is it? Can I incorporate anything I want like a bakery in my kitchen? Also will this give me the right to buy and sell from wholesalers?
Any help on all my confusion would help or a website explaining everything. Thanks
3 Answers
- Anonymous1 decade agoFavorite Answer
Won't work, sorry. If it did, lots of people would be trying this scam.
- bdancer222Lv 71 decade ago
Business credit is entirely different than consumer credit. No credit bureaus, different rules.
Businesses establish credit by setting up accounts with suppliers/vendors. Sometimes you start out with COD accounts till you build a relationship with the vendor. And any credit card in a business name will probably require a personal guarantee.
Venders/suppliers actually call your bank and trades to get specific info. Or they pull D&B reports. You can't fake your way thru with a sham business.
- thomas pLv 71 decade ago
Your corporate interest rate will higher than a personal credit card. Corporations are exempt form usury laws. Please accept this observation as in your best interest and intended to hurt your feelings: I am afraid that you are close to getting into trouble because this mass incorporation of limited assets feels like fraud or darn close to fraud. I know there are promoters who have been pushing this "incorporate yourself to wealth" scheme. Please be careful.
