The goal at this stage of the business credit building process is to have a total of at least eight (8) reporting trade lines consisting of three (3) revolving business credit lines and five (5) vendor credit lines reporting on your Dun & Bradstreet, Experian Business and Equifax Small Business credit reports for your company.

Remember, simply opening accounts does not establish payment history or trade lines. You need to use your revolving business credit lines and pay your statements on or ahead of the due date (preferably 10 days early). By doing this you establish a positive payment track record which gets reported to the business credit reporting agencies.

Revolving Business Credit Lines

As you use your revolving business credit lines you will establish a stronger profile since your company is now showing it can manage various types of credit. As you continue to use your revolving accounts responsibly it may lead to potential credit limit increases.

At this stage you should have a total of at least eight (8) reporting trade lines.

Note: You can always go back to review revolving business credit lines throughout Module 5 but be sure you've reached the (8) reporting tradelines before moving forward. If you fail to have met this requirement you risk being declined by credit sources listed in additional modules since they check your business credit reports and require depth, diversity and multiple accounts reporting as part of their credit approval.