Duns and Bradstreet-Your Credit File

[Michold]

Great posts guys!

 

All business owners should remember that growing your EIN's credit is much like building your SSN's. You need to start by establishing credit with vendors (Office Max, Staples, Shell), pay your bills on time (or early to get that paydex up!) and be patient. Many lenders in today's market have tightened up their lending guidelines, especially for no-PG products.

 

I made the mistake to apply for Staples at the start of the building process and got rejected. Even though at that time I had a commercial space as an office address. I think Staples comes later. Net 30 day accounts like Graingers, Uline, Quills (have to prepay), Reliable, AZ Snacks (have to pre pay but still report) and a few other come first.

Another thing is that I can not seem to get a straight answer from many of these customer service people.

[HMG]

I just wanted to add I think people shoudl start requestign the crap that D&B is tellign you in writing. If you notice they always wan tyou to call them. they never tell you your file is blocked or you cant build credit without creditbuilder in an email.

 

Start asking them to put it in writing for your CFO. Tell them if you as a business have to pay to get a credit report you want to have it in writing and who regulates that because its a problem. Start challenging them and what they say. Make them back it up in writing. Ask them where on the website does it say that Creditbuilder is a nessecity?? Also ask what right do they have to block your file and put that in writing.

I am curious to see what happens. I am tired of all of us runnign form them. We are business people just like them and they need to own up to what they are doing.

 

The issue with this could be them wising up to people "knowing better" and changing their tactics. As it is now, we know what to expect, and how to counter it.

 

My initial sales person was not only pushy, but she sounded more like her kids were being held hostage than a commission based pay! It was actually disturbing.

[jigga1812]

Can anybody tell me if Sams club reports to D&B?

if you buy the $35 business membership,

will it report? or do you have to have their discover business credit card in order to report?

[alplouis]

Can anybody tell me if Sams club reports to D&B?

if you buy the $35 business membership,

will it report? or do you have to have their discover business credit card in order to report?

 

Sams only report trades if your making purchases through their instore credit account or the Sams Club Discover card.

[alplouis]

Great posts guys!

 

All business owners should remember that growing your EIN's credit is much like building your SSN's. You need to start by establishing credit with vendors (Office Max, Staples, Shell), pay your bills on time (or early to get that paydex up!) and be patient. Many lenders in today's market have tightened up their lending guidelines, especially for no-PG products.

 

I made the mistake to apply for Staples at the start of the building process and got rejected. Even though at that time I had a commercial space as an office address. I think Staples comes later. Net 30 day accounts like Graingers, Uline, Quills (have to prepay), Reliable, AZ Snacks (have to pre pay but still report) and a few other come first.

Another thing is that I can not seem to get a straight answer from many of these customer service people.

 

The reason you can't get a straight forward answer is because they since that your in it straickly for the Biz credit. Try and switch up your approach.

[FCRAfun]

Hopefully this helps some of you guys out there. eupdate is now iupdate. A rep at dnb gave me the easiest way to get there..

 

iupdate.dnb.com It asks if you were existing eupdate customer or need to create a new iupdate profile.

 

iupdate.dnb.com

 

[Guest KristofsMom]

Hopefully this helps some of you guys out there. eupdate is now iupdate. A rep at dnb gave me the easiest way to get there..

 

iupdate.dnb.com It asks if you were existing eupdate customer or need to create a new iupdate profile.

 

iupdate.dnb.com

 

Is anyone else on the CB using this to update their company?

[alplouis]

Hopefully this helps some of you guys out there. eupdate is now iupdate. A rep at dnb gave me the easiest way to get there..

 

iupdate.dnb.com It asks if you were existing eupdate customer or need to create a new iupdate profile.

 

iupdate.dnb.com

 

Is anyone else on the CB using this to update their company?

 

iupdate is a tool that business owners can use to update their business credit files periodically or when necessary. Accessing this product too often could lead to your company being red flagged by dnb.

[Ismail]

Thanks for the info.

 

Uline, Vikings, Greinger abnd Nebs---What kind of vendors are these and what type of business do tehy have??? What is the minimum amount that I need to spend or purchase order before I asked them to report to D&B for the payment history??

 

Thanks

[alplouis]

Uline,Vikings, Grainger and Nebs are all net 30 starter accounts. You need a minimum of $50 purchase so that they would report a trade payment. Check their websites to see what kind of products they sell. Most small business owners usually start with those accounts to get started with building business credit. Good luck

[Ismail]

Thanks.

 

Do you have any suggestion for current vendors/supliers that I can use as trade references for D&B???

 

 

[Ismail]

Does any one know if Uline, Vikings, Greinger and Nebs still automatically report the payment history to D&B?? Have they changed or do they have any conditions now than before???

 

Thanks

 

 

 

[alplouis]

Does any one know if Uline, Vikings, Greinger and Nebs still automatically report the payment history to D&B?? Have they changed or do they have any conditions now than before???

 

Thanks

 

Uline, Grainger and Nebs still report trades. I'm not sure about Vikings. Uline reports fast. Good luck.

[Ismail]

Thanks Alplouis!!

[Ismail]

I just ordered products thru Uline, Grainger and nebs-- minimum spent between $50.00 to $60.00. Uline let me use net 30 account for the order, which is really nice, while Grainger and Nebs expect you to pay the order using your credit cards.

 

My question is should I use my personal Credit cards to make the payments or should I open new account under my business name from my bank and order cheques using my company name to pay the order?? Also, how should they know my Duns number to make the trade reference?? Should I tell them and notify them after I make the payments and receiced orders.

 

Thanks and your reply is always appreciated.

 

Thanks much!!!!

 

 

[Ismail]

Any Idea for the below question???

 

Thanks Alplouis!!!

 

 

I just ordered products thru Uline, Grainger and nebs-- minimum spent between $50.00 to $60.00. Uline let me use net 30 account for the order, which is really nice, while Grainger and Nebs expect you to pay the order using your credit cards.

 

My question is should I use my personal Credit cards to make the payments or should I open new account under my business name from my bank and order cheques using my company name to pay the order?? Also, how should they know my Duns number to make the trade reference?? Should I tell them and notify them after I make the payments and receiced orders.

 

Thanks and your reply is always appreciated.

 

Thanks much!!!!

 

 

[gonafixit]

does anybody know if Seton still reports?

[alplouis]

does anybody know if Seton still reports?

 

Yes. Seton still reports.

[gonafixit]

also can some one advise how you guys are viewing your paydex. i have 4 vendors reporting and still cannot see a paydex score - unless im missing something.

[stroked89coupe]

I have never seen a paydex on DNB. One time they called to sell me something and mentioned that I had an 80 paydex. So... If you have 4 trades and pay on time you can just assume you have a 80 paydex.

[poser6]

I have only one trade and have made my first payment and the second one is do this month, What other companies are there that will be easy to get approvals from only being in business 3 months? I have my ein and I have my Dunns number. Do i put my dunns number on my credit aps with my ein or what?

 

thank you in advance

[olivia619]

Hello..I am new to this blog and i love it! I have a question...How does one even apply for lines of credit for ones business??? Admin pls delete my post if im on the wrong forum. TIA

[breeze]

Hello..I am new to this blog and i love it! I have a question...How does one even apply for lines of credit for ones business??? Admin pls delete my post if im on the wrong forum. TIA

 

 

It's the right forum, but you might want to read some more. There's a lot of information in here.

[olivia619]

Oh awesome! Thank you!

[olivia619]

Does one need to incorporated to build business credit? Or will a sole proprietor be ok?