New credit file with ein

If you are opening a credit file for your business, be ready to furnish documents like copies of tax returns, copy of articles of incorporation, balance sheet or recent copies of profit and loss statement. The EIN should be specified on the application. Make sure on the new credit application you do not write the same address, contact details, and employer information that you had in the previous credit file.

The credit applications in which you put your EIN will be dispatched to credit reporting agencies. If the credit rating agency comes to know that you are trying to open another credit file, they will merge the file and you will have to continue to bear the brunt of a bad credit rating. Get a secure credit card; you will be issued a credit card with some percentage of the available credit in an account held by the bank that issues the card. Ask someone with a good credit rating to help open a secondary credit card with that person being the guarantor.

You can also sign as a co-applicant for a credit card with someone who has good credit. Keeping information current will help prevent situations where potential creditors cannot verify information provided on an application using the business' EIN. Businesses can mail or fax letters on company letterhead to the IRS with current business and officer information.

Place orders with business supply companies and provide the company's EIN when paying for the order. Business supply companies such as Uline, Grainger, and Quill will extend small lines of credit to a business after an initial purchase is made. Apply for a business fuel card account.

Most major gas station chains such as BP, Sunoco, Citgo, and Shell offer fleet cards and business cards that are backed by major banks. When applying for these lines of credit, only the company's EIN, address, and primary officer information is needed.

When you apply for a credit card, loan or any type of financing you are asked for your social security number.

Your social security number is the main way that the three credit bureaus, Experian, Equifax and Trans Union and many creditors and employers, etc. Therefore, to create a new credit identity or file, one would need a new social security number.

Since it is almost impossible to get a new social security number from the Social Security Administration, those who sell "create a new identity" information advise you to apply to the federal government for an Employer Identification Number EIN or Taxpayer Identification Number TIN and use that number in place of your social security number when you apply for a loan or credit card.

They might also advise you to make up a social security number or steal one from someone else. There is a problem with doing any of the above in that it is a felony to lie on a credit or loan application.