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Duns and Bradstreet-Your Credit File


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320 replies to this topic

#1 missty1029

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Posted 13 June 2005 - 09:22 AM

The first thing to understand about Duns and Bradstreet (D&B, DnB), is that you do not HAVE to buy anything to receive a Paydex. D&B will tell you otherwise but it is not true.

The first thing to do is get a D&B number and this can be done through three ways:
First you can go online and get a number for free. It will take 30 days to get the number. It has been some people’s experience that they do not get a number after 30 days and when contacting D&B they say “all you are applying for is a marketing number and you have to buy creditbuilder.” This is not true.
Second, you can call 866-705-5711 and state you are applying for federal grants/contracts and you need a duns number. They will give it to you on the spot with no solicitations.
Finally you can purchase creditbuilder which will include a duns number and you also will get the number right away. Also if you speak to a rep on the phone they sometimes give you the option of buying creditbuilder lite. This can be different prices as it is not listed on the website but others have paid $199 or $250 for it.

I myself have gotten my number by stating I am applying for government contracts and got it right away. That is how others on this board have done it as well.

Now that you have a duns number I would suggest whenever you apply for a net 30 or revolving account you include this number on your order form. Start with the credit building vendors like Uline, Viking and Nebs. When you order and pay, they will report to D&B. This is how you will begin to build a credit file.
If you purchase credit builder then they should be adding vendors you have done business with in the past.

Eupdate is the tool you can use to go into your D&B file and see what trades are listed and if you have a paydex and other company information. You have to request a password. You may receive a password or you may receive an email that states “you have to call them so they can help you” It is my experience when you call they will tell you several things which just amount to the bottom line of “you just have a marketing number and you cannot access your file until you buy creditbuilder.” This is also not true. I was unable to get a password until I had trades reporting. Others have been able to get a password right away. Either way we got a password without buying anything. If you buy creditbuilder you should have no problem getting a password.

Once you have your eupdate password you can check your report as well as update you company information. It is suggested that you don’t check eupdate too often or make to many changes too often. This may result in a red flag to D&B and they may lock your file. It is hard to tell what D&B may do but take the side of caution.

Now what D&B has not done as a result of you NOT buying creditbuilder is give you a D&B rating. This is the information of the rating and the chart as found on their site.

The D&B Rating field in a report may also display the following designations when certain conditions are present:
The '- -' Symbol: This represents the absence of a D&B Rating and should not be interpreted as indicating that credit should be denied. It means that the information available to D&B does not permit us to classify the company within our Rating Key and that further inquiry should be made before reaching a credit decision. Some reasons for using the "- -" symbol include: deficit net worth, bankruptcy proceedings, lack of sufficient payment information or incomplete history indicator.
DS (DUNS Support): This indicates that the information available to D&B does not permit us to classify the company within our Rating Key. When ordering these reports, an investigation can be performed and results sent to you at your request for an additional fee.
INV (Investigation Being Conducted): When an "INV" appears, it means an investigation is being conducted on this business to get the most current details.
NQ (Not Quoted): This is generally assigned when a business has been confirmed as no longer active at the location, or when D & B is unable to confirm active operations. It may also appear on some branch reports, when the branch is located in the same city as the headquarters.
Rating Classification Composite Credit Appraisal
(Based on Worth from Interim or Fiscal Balance Sheet) High Good Fair Limited
5A $50,000,000 and over 1 2 3 4
4A 10,000,000 to 49,999,999 1 2 3 4
3A 1,000,000 to 9,999,999 1 2 3 4
2A 750,000 to 999,999 1 2 3 4
1A 500,000 to 749,999 1 2 3 4
BA 300,000 to 499,999 1 2 3 4
BB 200,000 to 299,999 1 2 3 4
CB 125,000 to 199,999 1 2 3 4
CC 75,000 to 124,999 1 2 3 4
DC 50,000 to 74,999 1 2 3 4
DD 35,000 to 49,999 1 2 3 4
EE 20,000 to 34,999 1 2 3 4
FF 10,000 to 19,999 1 2 3 4
GG 5,000 to 9,999 1 2 3 4
HH up to 4,999 1 2 3 4

Rating Classification Composite Credit Appraisal
Based on Number of Employees) Good Fair Limited
1R 10 and over 2 3 4
2R 1 to 9 2 3 4

Key To Employee Range
Applicable to lines of business not covered by the D&B Rating system
ER1 1,000 or more
ER2 500-999
ER3 100-499
ER4 50-99
ER5 20-49
ER6 10-19
ER7 5-9
ER8 1-4
ERN Not Available



Some people have gotten this information without paying for something. But this information is different from a Paydex. The Paydex is what is important when applying for credit.

PAYDEX® Score
The PAYDEX Score is D&B's unique dollar-weighted numerical indicator of how a firm paid its bills over the past year, based on trade experiences reported to D&B by various vendors. The D&B PAYDEX Score ranges from 1 to 100, with higher scores indicating better payment performance.
Key to the D&B PAYDEX® Score
PAYDEX Payment
100 Anticipate
90 Discount
80 Prompt
70 15 Days Beyond Terms
60 22 Days Beyond Terms
50 30 Days Beyond Terms
40 60 Days Beyond Terms
20 90 Days Beyond Terms
20 120 Days Beyond Terms
UN Unavailable

A paydex can be obtained without buying anything. The truth of the matter is it will take time. For me it took 3 and a half months. Others depending on your spending have gotten it quicker. With creditbuilder you can obtain your paydex faster.

It seems that D&B updates their information Saturday nights. So if you want to check its best to do so on Sunday as that should be the current information they have. If it is it’s a different story, but it should be.

D&B will call you after you get your number and try to sell you something. They will tell you your number is no good and that you will not have a credit file. They may deny you a password to eupdate. Even if you get in the file there may be information that is missing or wrong. It is suggested you call a rep and make changes and they will still try to sell you something. Be patient. Place your orders and pay the bills. The trades will show up and once you get four of five you will get a Paydex.

This is the basic of building the D&B file. I hope this answers a lot of questions that come up.



#2 intheblack

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Posted 13 June 2005 - 10:36 AM

Thanks for the info.

Just wanted to confirm, DnB reports only capture info over a year's time?

What effect, if any, does paying your invoice in full (in regards to revolving lines)have on the paydex score?

Fantastic post...I appreciate the breakdown.

#3 missty1029

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Posted 13 June 2005 - 10:51 AM

Thanks for the info. 

Just wanted to confirm, DnB reports only capture info over a year's time?

<{POST_SNAPBACK}>

I am not sure what you mean by this?


What effect, if any, does paying your invoice in full (in regards to revolving lines)have on the paydex score?


That is hard to say. I think nmost have gotten only an 80 even if paying before they receive the invoice. I haven't seen anyone say they have a higher paydex but I will not say its impossible.

#4 Tom1096

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Posted 13 June 2005 - 10:57 AM

What effect, if any, does paying your invoice in full (in regards to revolving lines)have on the paydex score?


As long as you make the required amount owed, your paydex should remain at 80. With Revolving, if you pay the minimum due then you have paid your invoice as agreed. If it is net 30 (some are net 25, 10...etc..) then the whole amount charged for the month is due and failure to pay that amount will result in your score being lowered.

#5 intheblack

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Posted 13 June 2005 - 11:04 AM

Thanks for the info. 

Just wanted to confirm, DnB reports only capture info over a year's time?

<{POST_SNAPBACK}>

I am not sure what you mean by this?


PAYDEX® Score
The PAYDEX Score is D&B's unique dollar-weighted numerical indicator of how a firm paid its bills over the past year, based on trade experiences reported to D&B by various vendors.

<{POST_SNAPBACK}>


Are pay occurences greater than 1 year dropped from the file? I thought once you blown it (been late, etc.), it's there forever, but sounds like they only garner info for one year's time...

#6 mselfemployeds

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Posted 13 June 2005 - 12:22 PM

I was told payment records were kept for 16 months. This was when I first started.

I just checked and at least one reference for $500.00 has been dropped. The funny thing is it was the creditbuilder service, but it did serve its purpose at the time.

#7 intheblack

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Posted 13 June 2005 - 03:17 PM

This is great info. I think this should be in sticky territory.

#8 karosmom

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Posted 13 June 2005 - 04:48 PM

Can anyone help me with this?

Got a DUNS number by saying that I needed it to go goverment bids
and the next day I logged in and presto my numbers there...then today
I get this message:

Warning:
This account has been locked out.
Please call customer service to reset your password.
(866) 472-7362

What's up with this? Has this happened to anyone else on this board?

Let me know your comments.

Thanks.

#9 missty1029

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Posted 13 June 2005 - 05:03 PM

most likely when you call they will try to sell you something.
call them back and see what they say.If they try to sell you somethin gplay dumb and say you just need the number for govt grants. They should leave you alone.

#10 missty1029

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Posted 14 June 2005 - 10:08 AM

Bump**

#11 fstan

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Posted 14 June 2005 - 11:28 AM

OKay so I have been reading and reading for a week or so.....
Got $3000 Staples
Got $5500 Home Depot
And that was based on what I have read here. So THANKS for the info guys!
Now I am dealing with Dun and Bradstreet and I'm not sure how to continue.

Here is my situation: Bought an existing business. After reading information on here I applied for a DUNS #. Then, realizing that I could use the previous business DUNS # I changed the info. But now I am worried about what it will do to my score, etc. Here is the email exchange between me and the Dun & Bradstreet rep....

Christine,
Even though you already have a DUNS #. When there is a control change, all of the scores and ratings are revised. So the suppliers and vendors who are using our scores, will now get an alert that your report has changed. I would suggest adding references to your file to get the credit score back. Otherwise, they're going to be basing everything off of your industrial risk scores.

It's very important when you're taking over another company, that you look at what their credit was before you took over. There are several UCC's that will effect your scores, and if you do not take care of those, they will be in there for several more years.

I can disregard your appliaction, however, I would advise to add those references. I will attach the reference sheet and the program explanation.


-----Original Message-----
From:
Sent: Tuesday, June 14, 2005 5:17 AM
To: Esslinger, Katharine
Subject: Re: Your Request for a DUNS#


Tried to return your call yesterday...there was no answer? I actually don't think I need a "new" DUNS #. I talked to someone from Dun & Bradstreet last week and got this # 83-***-2547 and he changed the information associated with that number as I have just taken over an existing business. If you still need to talk to me, you can call me today, I will be at this number until 4pm.

"Esslinger, Katharine" <EsslingerK@dnb.com> wrote:
I am trying to reach you per your request for a DUNS #. In order to follow D&B's guidelines, I need to speak with before assigning a DUNS # for your company. Please call me back ASAP so I can continue your application process. If I do not hear back from you within a 1 week time frame, I will have to delete your application. If you still need a DUNS # you can call me and we can create it over the phone.

Keep in mind why you are applying for a DUNS # as that will be the first question I ask you. I need to know what will best portray your company and how to go about doing so.

Thanks for your time :good:



Katy Esslinger
Self Awareness Solution Consultant
E-Update | E-Business Solutions
tel.800.627.3867 ext.4265
fax.800.571.7837
esslingerk@dnb.com
Did you know...over 150,000 companies use business credit information to make critical decisions about companies like yours. Chances are some or all of the people you do business with rely on business credit reports

View sample credit reports @

https://www.dnb.com/...ct/availrpt.htm

Dun & Bradstreet (D&:yahoo: is the leading provider of business-to-business credit, marketing, purchasing, and decision-support services worldwide. Customers rely upon D&B to provide the insight they need to build profitable, quality business relationships with their customers, suppliers, and business partners - the companies they interact with every


So what do you guys think???

#12 missty1029

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Posted 15 June 2005 - 10:46 AM

Sorry that I dont have an answer for. Anyone?

#13 missty1029

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Posted 16 June 2005 - 03:22 PM

Does anyone think this should be a stickie????
;) ;)

#14 Luv4God

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Posted 16 June 2005 - 04:04 PM

Missty1029 --

I think your post is a great D&B template and provides extensive information. With some additional information such as the need for a DUNS number, telephone numbers and web addresses it will be more complete.

I also think that there are still a few unknowns at this point where D&B is concerned. We are assuming that they've only changed their site and have not changed any of their procedures.

Should it be a stickie? I don't know how that determination is made but I don't think it would hurt anything. There should probably be a central location for information regarding D&B.

#15 gigalot

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Posted 17 June 2005 - 03:33 PM

Can this information be merged with the other DNB thread that is already in the stickies. Too many stickies and they lose their zing.

#16 missty1029

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Posted 21 June 2005 - 07:29 AM

bumpin to the top!!!

#17 missty1029

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Posted 29 June 2005 - 11:23 AM

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.

#18 missty1029

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Posted 28 July 2005 - 12:49 PM

just bumping to the top!!!

#19 accessmycredit

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Posted 28 July 2005 - 02:14 PM

Maybe there should be a detailed stickie that tells all of the ways D&B will try to get money out of you!

#20 cemento

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Posted 28 July 2005 - 02:28 PM

Scores --

someone mentioned scores and how long a late stays. Well let me add this...
Paydex scores are dollar weighted by %. I have had lates, even recently. However, my Paydex currently remains 80. On the other hand, my paydex could be scored lower if only looked at for a particular month and depending on the dollar amounts of what was late.

So a late payment does not totally blow a paydex. Now, on the other hand again, a % of your payments in total is often noted to creditors who check your credit...i.e. you make 5 payments that report. All are on time but one, and it's just like 15 days late. Your report could have verbiage when they check it, reading "80% on time, 20% late". And even still, your paydex could be 80. A creditor can see your late payments for awhile I am told, IF they purchase a detailed report.

#21 cooliojones

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Posted 30 July 2005 - 06:59 AM

Can anyone help me with this?

Got a DUNS number by saying that I needed it to go goverment bids
and the next day I logged in and presto my numbers there...then today
I get this message:

Warning:
This account has been locked out.
Please call customer service to reset your password.
(866) 472-7362

What's up with this?  Has this happened to anyone else on this board?

Let me know your comments.

Thanks.

<{POST_SNAPBACK}>

I have a question about this. I got a DUNS number also, but everytime I check for my company info, I cannot find it, and it cannot find the DUNS # in the database. I called on of the reps and they said that they number would not be in there for 30-45 days. Is this true? Or like karosmom, should I be able to view it immediately? It's been almost two weeks now and still I can't view it, or if I type my company name it doesn't appear.

ALso, can anyone out there who has that unlimited credit file checking service pull a report for me? I would GREATLY appreciate it, would like to see the info in a previous companies file before I take it over.

#22 mary123abc

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Posted 30 July 2005 - 07:53 AM

I would think it should be in there by now. Mine showed up only 2 days later for both businesses. Some have had success calling dnb and asking for the "self inquiry" department.

Edited by mary123abc, 30 July 2005 - 07:54 AM.


#23 missty1029

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Posted 11 August 2005 - 09:01 PM

Bumpin to the top!!!

#24 IvyMgmt

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Posted 12 August 2005 - 07:53 AM

most likely when you call they will try to sell you something.
call them back and see what they say.If they try to sell you somethin gplay dumb and say you just need the number for govt grants.  They should leave you alone.

<{POST_SNAPBACK}>



Missty why would you assume they want to sell her something? It could be she made an error in the app or something or tried the password too manytimes..

Stop thinking they d and b are out to get everyone, if that was the case they would not have been around so long.. <_<

#25 IvyMgmt

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Posted 12 August 2005 - 07:55 AM

Scores --

someone mentioned scores and how long a late stays.  Well let me add this...
Paydex scores are dollar weighted by %.  I have had lates, even recently.  However, my Paydex currently remains 80.  On the other hand, my paydex could be scored lower if only looked at for a particular month and depending on the dollar amounts of what was late.

So a late payment does not totally blow a paydex.  Now, on the other hand again, a % of your payments in total is often noted to creditors who check your credit...i.e. you make 5 payments that report.  All are on time but one, and it's just like 15 days late.  Your report could have verbiage when they check it, reading "80% on time, 20% late".    And even still, your paydex could be 80.  A creditor can see your late payments for awhile I am told, IF they purchase a detailed report.

<{POST_SNAPBACK}>



Your right and it depends on the ratio of accounts you have if you only have two and you are constantly late your paydex would be crap.. But if you have 20 it wont matter a bit..




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