We use business tradelines in a very similar way as we do personal tradelines. To augment the entities credit worthiness. This is a great way to increase credit score and lendability. In fact, we’ve seen brand new businesses have perfect business credit scores and profiles after adding just a couple tradelines. Business tradelines are credit accounts that appear on business credit reports.
On personal credit reports, you may have personal tradelines for your personal credit cards, loans, and lines of credit. For business credit reports, there are two types of business tradelines, financial tradelines and vendor tradelines.
Your company’s financial tradelines are tradelines that a bank, credit union, or financial institution reports. Financial tradelines illustrate your company’s history of obtaining and repaying (or missing payments) on financial products, such as a business credit card, loan, lease, or line of credit.
Additionally, business credit reports can have vendor tradelines. These are also known as trade credit, merchant, corporate, or supplier tradelines. Vendor tradelines are the net payment accounts you may have with suppliers and vendors. Check out our business tradeline options.
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