A “payment experience” is an account reported to a business credit reporting agency. Obtaining an approval with a vendor that reports to Experian and Dun & Bradstreet counts for two payment experiences. If the credit account only reports to Dun & Bradstreet, that is considered only one payment experience. Consider it an advantage to obtain business credit accounts that report to multiple credit reporting agencies to expedite results.
In building business credit, many retailers have Time-In-Business (TIB) or revenue requirements.
Older companies fair better than new companies. These requirements should not put you off from applying if you’re starting with a new company. If you have the required number of reported vendor accounts, this can compensate for revenue. Request manual review for to seek an approval. The key to building business credit is reaching for a higher number of payment experiences.