Our Grainger Net 30 Review

Grainger is a massive industrial supply and office supply vendor.

Their net 30 account reports to Dun & Bradstreet.

Their simple registration process and limited restrictions make it a desirable addition to your business credit growth strategy.

If you normally shop for products Grainger sells, we believe the Grainger net 30 account would be a solid account to sign up for.

Our Verdict on Grainger's Net 30 Account

Grainger’s net 30 account is a strong choice if you’re looking to build business credit.

Grainger appears to be more daunting than some other net 30 accounts. However, they’re very new-business-friendly and have stellar net 30 terms. As long as you meet the requirements, you should be able to qualify for a net 30 account with them.

Once you’re in, it’s just a matter of utilizing your available credit line and paying it back in 30 days. Every payment will be reported to D&B. It is worth noting that they only report to D&B. They do not report to Experian Business or Equifax Business.

There’s always the risk that you may not qualify. However, there are very few downsides to a Grainger net 30 account.

Grainger is a great net 30 account for new businesses and those looking to grow their credit. This is especially true if you regularly need products from an industrial supply company.

Grainger's Net 30 Account Advantages

No Minimum Payment

A Grainger net 30 account comes with no minimum payment threshold. This is good news because it gives you full control over how much you spend when you start using your account.

That being said, there are still expectations for using your trade credit.

It’s recommended that you spend at least $50 in order to have your payment reported.

This will be a minimum payment that will be easy to reach given the cost of industrial supplies. If you spend this much and repay within 30 days, you’ll reap the benefits.

Up to $5,000 Credit Limit

Grainger offers credit limits that are on the lower end of the spectrum.

If you are approved for a Grainger net 30 account, you will receive a $1,000 credit limit.

This should be enough starting out, no matter what your cash flow situation looks like. However, you’re not limited to a $1,000 credit limit.

Businesses that consistently pay on time can request a credit limit raise. If you’re approved, your credit limit could be bumped up to as much as $5,000.

There’s a lot of room for growth with Grainger. This is why it’s one of the top net 30 accounts out there for businesses that purchase industrial supplies.

Grainger's Net 30 Account Disadvantage

Costs Appear to Be a Bit Higher at Grainger

It’s hard to find major issues with Grainger’s net 30 account. Their credit terms are solid overall.

The only improvement could be further credit reporting to Experian Business and Equifax Business. Only reporting to one business credit bureau isn’t ideal. However, it’s still good given that the credit bureau each payment is reported to is D&B.

However, there are some complaints among some net 30 account holders.

One complaint seems to be that Grainger seems to have more expensive products to some.

There are some account holders who say their supplies are a bit overpriced. This is in comparison to where you can shop for the same tools or supplies elsewhere.

That being said, there are a few things to keep in mind.

• You generally won’t be building your business credit when shopping elsewhere. Meanwhile, each payment with Grainger within 30 days will help you boost your business credit score and establish business credit history.
• There are still a lot of opportunities to save. This can come in the form of discounts and clearance items.
• The cost of doing business and what’s not worth it for businesses is entirely subjective.

Consider all of the above as you sign up for a Grainger net 30 account. Additionally, remember that you’re not limited to just one vendor. You can also check out our Wise Business Plans net 30 review if you’re looking to expand your roster of net 30 accounts and trade references.

Grainger's Net 30 Approval Requirements

Grainger’s net 30 account is very easy to apply for. To qualify for a credit account, all you’ll need is:

• All of your relevant business information (business name, contact info, etc.)
• A business that has been operating for at least three months (likely small businesses with no late repayment history or bad credit history)
• A DUNS number

Qualification isn’t guaranteed. However, if you have all of the above and the revenue needed to pay back your business debts, you should have what you need to get approved.

Build Your Business Credit and Tap Into Financing With FairFigure

Signing up for net 30 accounts from tier 1 business credit vendors is one way to build credit. But signing up for accounts across multiple business credit tiers isn’t the only way. There’s more than just net 30 vendor credit at your disposal.

If you want to build your business credit and tap into financing, start here with FairFigure!

FairFigure offers two distinct products to help you grow your business credit score and your business. These include our:

• Business Credit Monitoring Services: We help you track your credit, provide immediate assistance to address credit report disputes fast, and more for just $30/month. More than that, your payment gets reported as a utility tradeline. We report to Equifax Commercial, the SBFE, CreditSafe, and our own Foundation Report. This helps you build your credit score and establish credit history so you can tap into more financing with your good credit.

• FairFigure Capital Card: Our EIN-only business credit builder card (not a business credit card or charge card) comes with no personal guarantees, no personal credit checks, and flexible payback terms. Better yet, we extend financing based on revenue, helping you unlock more than you’d get with credit cards. This is in addition to desirable perks like cash back and reporting to all of the above!

If you’re ready to tap into funding and bolster your business credit, sign up for FairFigure today!