The No Job LifestyleSet the business up as its own entity, get an EIN and a DUNS number, open a business bank account, then add vendor accounts that report (often called net 30 accounts). Pay early and your business file grows, which leads to business cards and lines of credit.
Step by step
- Form an LLC or corporation so the business is separate from you
- Get a free EIN from the IRS
- Use a business address and phone that match everywhere
- Open a business bank account
- Get a DUNS number from Dun and Bradstreet
- Open 3 to 5 net 30 vendor accounts that report
- Pay them early, not just on time
- Apply for a starter business card, then a line of credit
Business credit vs personal credit
Business credit lives on your business, scored by Dun and Bradstreet, Experian Business and Equifax Business. Early on, most lenders still check your personal score, so strong personal credit makes everything easier.
How long it takes
With reporting vendor accounts paid early, a business file can start showing scores in a few months.
Questions people ask
Does business credit affect personal credit?
Usually not, unless you sign for a business debt personally and default, or the lender reports to personal bureaus.
Can I build business credit with an EIN only?
You can start a business file with an EIN, but most early approvals still look at your personal credit.
What is business credit?
A credit history tied to your business, used by lenders and vendors to decide terms and limits.