Office Depot is a solid net 30 office supply vendor for those who regularly purchase office goods.
They report all payments to Dun & Bradstreet (D&B). They also require no additional fees or application fees to get started.
If you want to start building business credit, we believe the Office Depot net 30 account is a valuable tool to leverage.
Our Verdict on Office Depot’s Net 30 Account
The Office Depot net 30 account is a great choice for growing businesses.
Most small businesses are going to need office supplies, office furniture, and other necessities. Because of this, the Office Depot net 30 account is much more practical to sign up for.
More than that, it offers a wide range of benefits. You won’t have to worry about additional fees or a minimum purchase threshold. You’ll also build credit effectively with each payment reported to D&B.
There are a few drawbacks, but none so notable that it makes this net 30 account one to avoid.
Overall, there’s a lot to gain with the Office Depot net 30 account. If you’re looking to build your credit history and raise your business credit score, we think that the Office Depot net 30 account is a great choice.
Office Depot’s Net 30 Account Pros
No Application Fees or Annual Fees
One major reason why businesses will shy away from certain net 30 accounts is fees.
Many net 30 accounts require application fees, annual/membership fees, and more. This can add up quite quickly. These net 30 terms may not be worth it if you aren’t going to be buying much from a specific vendor.
With the Office Depot net 30 account, you won’t have to worry about this.
They don’t require an application fee to see if you qualify or annual fees to maintain your account.
The entire process is free.
Just remember that there will be late fees if you make a late payment. Take care to make payments on time to avoid any potential impact on your cash flow and credit report.
Reports to Dun & Bradstreet
Applying for a net 30 vendor account isn’t worth it if it won’t help you build business credit.
Generally, you want to apply for net 30 accounts that report to the big three business credit bureaus: Experian Business, Equifax Business, and D&B.
Office Depot doesn’t report to Experian Business or Equifax Business. However, it does report to D&B.
Reporting to D&B is sufficient enough to help you build your business credit and payment history. Some may see only reporting to one business credit bureau as a disadvantage. However, we see it as a bonus since it’s helping you work towards your goal.
To make sure your payments are being reported to multiple credit bureaus, sign up with several tier 1 business credit vendors.
Some recommendations include:
- Home Depot Commercial Account
- Business T-Shirt Club
- Crown Office Supplies
- Office Garner
- Amazon Business
- Ohana Office Products
- Newegg Business
- Summa Office Supplies.
Office Max was an option for the average small business owner previously. However, they’ve since merged with Office Depot. An existing OfficeMax store will give you the same offers as Office Depot.
If you’re looking to further your credit-building efforts, an Office Depot business credit card could work. The Office Depot business credit card options may report to more than one business credit bureau.
With a net 30 account and an Office Depot business credit card, you can achieve more.
ODP Business Solutions also extends credit to businesses like your own.
Office Depot’s Net 30 Account Cons
Considered a Tier 2 Business Credit Vendor
It’s important to note that Office Depot is considered a tier 2 business credit vendor.
Tier 2 business credit vendors are often a bit harder to qualify for.
Why?
Most tier 2 business credit vendors require you to have some credit history. This means that brand-new businesses may find it more difficult to get their foot in the door.
Fortunately, it’s not so hard to qualify that you will be immediately rejected. With some established trade credit, you can get an Office Depot net 30 account.
This isn’t a strong disadvantage, but it is one worth knowing ahead of time.
Keep this in mind when you’re looking into the Office Depot net 30 account.
Office Depot’s Net 30 Approval Requirements
The Office Depot net 30 account application process is straightforward.
You’ll need to have:
- An established business and necessary business information (corporate information, legal entity structure, etc.)
- Decent annual revenue to ensure you can make your payments
- Some credit history to qualify (good credit, specifically)
You’ll also likely need to sign a personal guarantee. For this, they’ll check your personal credit score, which will need to be in good standing.
Streamline Your Business Credit Journey With Credit Suite
Building business credit isn’t something that comes naturally to many business owners. Discovering the right vendors, figuring out what you’re doing wrong, and navigating the space can seem impossible.
You can make it all simpler with Credit Suite.
Our Fundability System is a credit-building solution that will help you:
- Learn what you’re doing wrong and what needs to be done to drive progress
- Build credit faster with our step-by-step instructions and personalized guidance as well as stellar customer service
- Identify vendors and lenders that you pre-qualify for
- Source the best accounts that will give you the most financing
- And much more
Do you want to see some real progress in your business credit-building journey? Sign up for our Fundability System today to get started.
