Just spent $400 on a 'business credit builder' program and it was a total scam

I saw an ad for this service that promised to report your rent payments to the credit bureaus to boost your business credit score. Paid the fee last month, set it all up. Turns out they just send a letter to Experian that gets ignored because most lenders don't even accept that type of data. My score hasn't moved a single point. Has anyone found a REAL way to build business credit from scratch that actually works?

3 comments

3 Comments

diana203mo ago

Honestly my cousin just used a secured card for his startup.

daniel_lane303mo agoMost Upvoted

Oh man, I was totally in that camp too. I thought secured cards were just a trap for people with bad credit or something. But then I saw my friend use one to actually build a payment history for her side hustle... the bank saw the steady use and gave her a real limit increase in like six months. It kind of changed my whole view on them.

nancy_smith3mo ago

Ugh, same thing happened to me last year. Felt like such a waste, they just take your money and do nothing. I had way better luck just getting a small business card from my bank and using it for gas.