Staples is one of the biggest providers of office products in the United States, so much so that they are ranked the second best in office supplies based on revenue. And since they supply everything you would need for the workplace, Staples offers net 30 accounts for businesses to make purchasing, invoicing, and settling balances easier.
But will a Staples Net 30 account be a worthy investment for your business? And more importantly, will it help you build business credit? Let’s find out.
Our Verdict on Staples’ Net 30 Account
Staples Inc., with over 1,000 US locations and $18.2 billion in 2023 revenue, caters to offices, students, schools, crafters, and individuals needing office supplies. They offer businesses a Staples Net 30 account, allowing payments up to 30 days after the invoice date to help maintain positive cash flow. Additionally, a positive payment history with Staples can help build business credit.
See our full detailed review below.
Staples’ Net 30 Account Pros
Staples Can Help You Build Business Credit
Before you sign up for any net 30 account, you have to know which business credit bureau they report to.
Credit bureaus collect, monitor, and score your credit. A high business credit score can help open more financial opportunities for your business, similar to a personal credit score.
Net 30 vendors report to three major credit bureaus: Equifax Business, Experian Business, and Dun & Bradstreet.
Staples is one of the best companies that help build business credit because they report to one of these credit bureaus, which is D&B. While some business owners might want vendors that report to all three, D&B is usually the best for business credit reporting.
The stipulation is that you have to maintain a positive payment history to maintain good credit, similar to personal credit. When you pay your balances on time, you are more likely to score higher. Plus, an on-time payment history can help maintain a good cash flow because you don’t have unpaid balances piling up.
If you want to explore other net 30 vendors who report to two or all credit bureaus, take a look at other business tradelines like Uline, Crown Office Supplies, Strategic Network Solutions, and Wise Business Plan. Some of these vendors report to at least two agencies!
You Can Get All Your Supplies From Just One Vendor
You can purchase over 20,000 products from Staples, including office supplies, furniture, electronics, hygiene supplies, cleaning products, packing and shipping supplies, and even cookies for the breakroom. Their extensive offerings mean you can get all the supplies you need for your business from a single place instead of dealing with multiple net 30 vendors.
Plus, you can open a Staples business credit card to earn rewards as you purchase office supplies. You can even use membership points from your American Express credit card as payment.
Another benefit of Staples’ huge catalog is that you can also maintain a better cash flow. For one, you have a consolidated invoice instead of multiple invoices from different net 30 vendors. Even better, you may be able to qualify for volume discounts or preferential pricing.
Additionally, you’ll almost always find deals and discounts on all sorts of office supplies when you look at their website. We highly recommend checking out their Clearance and MyDeals sections to find very low item prices!
Individual discounts or even volume discounts may not seem like a huge benefit, but over time, the savings will add up. This is especially beneficial for businesses with a tight fund.
Note: As of this writing, Staples only accepts payment through credit card transactions. Moreover, some discounts and offers are only available in select zip codes.
Staples’ Net 30 Account Cons
You Need at Least 20 Employees
To sign up for a net 30 account, you need to qualify for a Staples Business Advantage account. Unfortunately, one of their net 30 terms is that you need at least 20 employees in your business.
That said, Staples might not be the best option if you only have a few employees. In this case, you can check out other net 30 vendors like Uline, Quill, and Office Garner.
Aside from the employee requirement, your business has to have been in operation for at least one year. Also, you must have a DUNS number and EIN.
With these requirements in mind, your small business may not be able to qualify for a net 30 account if your company is small and very new.
If you do qualify for a Staples Business Advantage account, you gain access to category experts and certified industry experts, spend visibility and approval flows, industry-specific contracts, and more.
If you want flexible payment terms, custom pricing programs, and other advanced perks, you need to have more than 20 employees and meet other criteria for the second and third tiers of their Business Advantage accounts.
Staples’ Net 30 Approval Requirements
To qualify for a Staples Net 30 account, you need to have:
- At least 20 employees
- DUNS number
- EIN
Like other vendors, Staples will also ask you for personal and business information for your account, including:
- Name
- Contact information
- Business name
- Business address
- Business phone number
- Credit history
You can sign up for a business account here. According to the Staples website, a Staples Advantage representative will contact you after you fill out the form to discuss payment terms, credit limits, service fees, etc.
What about credit score requirements? Staples does not list the specific criteria on their website, but it always helps to have a good credit score for both business and personal credit.
Good credit and a positive payment history help vendors determine your creditworthiness and may affect how much product you can purchase on net 30.
Upgrade Your Business Credit Score With Credit Suite
Using net 30 accounts is an excellent opportunity to boost your small business credit while getting your essentials ASAP. However, achieving your desired credit standing can be time-consuming and require multiple net 30 accounts.
Alternatively, you can explore our Credit Line Hybrid, an unsecured, no-doc program that gives you access to up to $150,000 in business credit. Ideal for any small business seeking to bypass extensive requirements and paperwork.
Learn more about maximizing your business credit with Credit Suite. Reach our customer service department at (877) 600 2487 or [email protected] today!
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