Dun and Bradstreet Credit Builder

[hyuk101]

I have had a LLC for two years. Just signed up and was approved - no PG, no giving social security #'s - with Grainger and Strategic Network Solutions (both awesome companies that really want to help build your business credit). I did get a call from Dun and Bradstreet today that seemed more like an extortion call to me trying to get us to pay all this money to "background check" our company. Without that, they said we can never have good credit reported. They are also trying to get us to pay for the credit builder. Anyone have any thoughts on the matter? I was getting the hard sell max from them.

[msfgrp11]

Please take the time to read through the Forum. There are plenty of topics explaining what accounts you need to apply for initially to get your credit file started up so that you can start moving through the various levels of credit building. You need to get accounts set up with Quill, Reliable, Uline, Gemplers, etc., to start with so that they can start reporting their payment experiences. In my opinion and there are many here that would agree, The DNB Credit Builder program is a waste of your money. Building credit is a process and takes time, therefore, you need to do some research here reading up on these topics.

 

This link is recent and would be most beneficial to you http://creditboards.com/forums/index.php?showtopic=476200

 

Best of luck

[BRBiz]

It's a total waste of money don't spend a dime on it. I have personally tested it to see if it helps anything at all and it doesnt. All the info about building biz credit can be found here along with asking questions you will have a decent file in under 6 months.

[stroked89coupe]

Agree with everyone here who posted...

[constructionbizman]

I'm new to this but this is my experience.

stroked89coupe is completely correct in some areas and a little off in others. I read the link to stroked89coupe comments in October of 2011. I have three LLCs and one S Corp. One with a bankruptcy and two without. Concerning Dun & Bradstreet and other information posted in 2011, stroked89coupe is 100% on target concerning making sure you log in and claim all the yellow pages, google, bing, and what else is out there showing the general public info and location on your business. That is a HUGE step in directing traffic to your business doors. Also, the companies he mentioned "You need to get accounts set up with Quill, Reliable, Uline, Gemplers, etc., to start with so that they can start reporting their payment experiences." is exactly correct. In his October 2001 post he said that D & B only tracks net 30, net7, net 14, net 60 type of transactions. This is incorrect! Yes they do track those type of terms, BUT THEY ALSO TRACK REVOLVING CREDIT ACCOUNTS. Since strocked89coupe does not have paid services with Dun & Bradstreet I can understand why he has a lack of knowledge in this area. The reason I mentioned three LLCs and one S Corp is because of this. In his October 2011 posting there was a comment about no need to have a service because it will eventually get a credit score or report for the business as long as you use iUpdate or eUpdate (not an exact quote). He is correct on this also, but... Since 2003 when I had my first LLC I have used the "FREE" service with D & B. It took over three years to get the credit report fully established. With my seconded LLC started in early 2012, I did purchased the creditbuilder. I was able to add and request my creditors to report to D & B. Within 3 months of buying this service and working with a credit advisor at D & B my report is so much better than the LLC that took three years to build. Now, Experian, Transunion, and Equifax do sell credit reports on business. But each one of their databases only has about 100,000 reports. D & B has over a trillion records in its database on businesses. Now on my S Corp, I did need to submit financials, but on an LLC it does not matter. Just look at the legal structure of these two types of entities. Why would I count on Experian, Transunion, and Equifax for my business reports? The federal government pulls D & B reports for verifications, not Experian, Transunion, and Equifax reports! MY point is be careful on the decision of not using a service with D & B. It all depends on your goals and I fast you want to get there. If you have time, then wait on the free process. But if you need to get going now, then talk to a credit advisor at D & B. A good one, not some pushy guy or girl. Here is another trick to all this. D&B holds the data on businesses, a couple of years ago they sold their sales division and it is now called Dun & Bradstreet Credibility Corp. 90% of the time when you need to buy a report from Dun & Bradstreet it goes through the Dun & Bradstreet Credibility Corp system because that is how the companies are set up. Dun & Bradstreet has their customer service in India or the Philippines, either way you get so frustrated cuz they connect speak English. But Dun & Bradstreet Credibility Corp has their customer service in the U.S. The guy I used his name was Brad, I can remember this because my name is Brad, made it easy to remember. I know that some of the workers can be... well not pleasant, this guy took the time and was cool. Did not push anything and what he said made sense. I have proof cuz it worked. stroked89coupe is so right an 99.9% of what he said, but you need to decide if the investment of a service will free up your time (time is money) and how fast you need to have a jump start.

[stroked89coupe]

Welcome to the community.

 

It's hard to remember to correct all posts but I will make sure that is updated. It was only about three months ago a newer member shared his experiences with us regarding dnb and the reporting of an actual credit card on dnb without the dnb credit builder package. That credit card was navy and I can't remember what the other was that reported. Amex maybe. There are no revolving accounts that reported for me or anyone else I know in regards to store cards that have not been manually added. Vehicle loans, credit cards ect yes.

 

 

Thanks for letting me know regarding your experiences, and I'm glad you had a good experience with dnb. They need to get some more employees like brad.

[johndoe3]

The rep at Dnb informed me that my file would be incomplete unless i purchased the credit builder. I plan to have it for three to four months to add all of my trade references then im going to cancel the service. I think its good to have because a I can add credit references that dont report to dnb to my file.

[BRBiz]

The rep at Dnb informed me that my file would be incomplete unless i purchased the credit builder. I plan to have it for three to four months to add all of my trade references then im going to cancel the service. I think its good to have because a I can add credit references that dont report to dnb to my file.

The reps always say that and the credit builder has nothing to do with a complete file. To really have a 100% complete file you will need to upload your financials with or without the credit builder. The only time it helps is if you have high dollar trades ($10k plus) to add and that if they can be added.

 

Take my word and every one else's here you don't need the credit builder to build your credit. Take that $900 or what ever it is and go buy a $1k worth of what ever at Grainger and you will have a $1k trade reporting within weeks, that's a lot better then giving DNB your money.

 

FYI if you cancel the service they remove any trades you added though it.

[johndoe3]

So Myron and C&H does not report to d&b.....I ordered from them and added them as trades to my report......I cant add them as trades without the credit builder....so what would i do instead

[GR8WhiTE]

I ordered once from Myron 2 months. I was hoping that they reported but they didn't.

 

The key is to deal with companies that automatically report to dnb. That way you don't need the creditbuilder.

 

I ordered the creditbuilder last year and like an salamander I added 2 extra tradelines for $50 more I think....and guess what? The 6 trade references I had to add did not even get used cause the vendors I was dealing with were all reporting. So for me? Waste of money. But I did have a good lady helping me out with DNB credibility corp (HUGE difference in that department)

 

The importance of creditbuilder is like BR said "if you're using it to add accounts 10k and higher" OR if you just need to add something quick that you might need someone to see.

[dconawa]

Hello everyone,

 

I am glad to see someone post a different experience with D & B. I too think that the creditbuilder is good if you want to build credit faster. This is a very big example of how business credit experiences are so different for everyone's businesses. People say things like .... "Creditbuilder and D & B will not allow you to add loans/financing to your report." Why not? have you tried? My point is this, don't listen to want ANYBODY says on here or should I say don't etch it in stone as gospel when it comes to business credit. Experience it for yourself.

 

Good Luck to everybody!

[BRBiz]

DNB in the house!

 

As mentioned in a earlier post it only makes sense to use the builder service if you have high trade lines you want reported. I tested the builder service out and it makes no difference using that or just following what we say here. Your better off taking that $900 you would spend on the service and buying something at Grainger for the $1000 trade line they will report for your company, that will do more good then trying to a add a few small trade lines with the service. It's pretty clear cut when to use the service and when to not use the service. If any wants to give DNB their money that's their own choice.

 

And yes I have seen DNB reject trades that people have tried to add and also have seen businesses refuse to give that info to DNB, not because they didnt want to do it for their customer they just didnt want to deal with DNB and all the BS that comes with them.

Edited June 3, 2013 by Brndnh721

[GR8WhiTE]

:rofl:

[prevostconstruction]

DNB in the house!

 

As mentioned in a earlier post it only makes sense to use the builder service if you have high trade lines you want reported. I tested the builder service out and it makes no difference using that or just following what we say here. Your better off taking that $900 you would spend on the service and buying something at Grainger for the $1000 trade line they will report for your company, that will do more good then trying to a add a few small trade lines with the service. It's pretty clear cut when to use the service and when to not use the service. If any wants to give DNB their money that's their own choice.

 

And yes I have seen DNB reject trades that people have tried to add and also have seen businesses refuse to give that info to DNB, not because they didnt want to do it for their customer they just didnt want to deal with DNB and all the BS that comes with them.

Well...While I am not an advocate for creditbuilder, I must admit there are some advantages. I had a company in 2005 with a similar sic code as what I have now. I was able to get a 6month old company backdated to a 2005 start date because I had a previous duns number.

[prevostconstruction]

 

DNB in the house!

 

As mentioned in a earlier post it only makes sense to use the builder service if you have high trade lines you want reported. I tested the builder service out and it makes no difference using that or just following what we say here. Your better off taking that $900 you would spend on the service and buying something at Grainger for the $1000 trade line they will report for your company, that will do more good then trying to a add a few small trade lines with the service. It's pretty clear cut when to use the service and when to not use the service. If any wants to give DNB their money that's their own choice.

 

And yes I have seen DNB reject trades that people have tried to add and also have seen businesses refuse to give that info to DNB, not because they didnt want to do it for their customer they just didnt want to deal with DNB and all the BS that comes with them.

Well...While I am not an advocate for creditbuilder, I must admit there are some advantages. I had a company in 2005 with a similar sic code as what I have now. I was able to get a 6month old company backdated to a 2005 start date because I had a previous duns number.

And Brndnh...you are right about it being useful if you are submitting high trades. That has worked for me very well.

[BRBiz]

 

 

 

DNB in the house!

As mentioned in a earlier post it only makes sense to use the builder service if you have high trade lines you want reported. I tested the builder service out and it makes no difference using that or just following what we say here. Your better off taking that $900 you would spend on the service and buying something at Grainger for the $1000 trade line they will report for your company, that will do more good then trying to a add a few small trade lines with the service. It's pretty clear cut when to use the service and when to not use the service. If any wants to give DNB their money that's their own choice.

And yes I have seen DNB reject trades that people have tried to add and also have seen businesses refuse to give that info to DNB, not because they didnt want to do it for their customer they just didnt want to deal with DNB and all the BS that comes with them.

 

Well...While I am not an advocate for creditbuilder, I must admit there are some advantages. I had a company in 2005 with a similar sic code as what I have now. I was able to get a 6month old company backdated to a 2005 start date because I had a previous duns number.

And Brndnh...you are right about it being useful if you are submitting high trades. That has worked for me very well.

That was my point, if its going to "buy" you some good credit either from large trades or back dating then go for it other wise buying it to add a few small trades is a huge waste.

[johndoe3]

THE DNB CREDIT BUILDER IS A GREAT INVESTMENT.....IF YOUR JUST TOO CHEAP MAYBE BUSINESS CREDIT IS NOT FOR YOU....TRY PERSONAL

[prevostconstruction]

THE DNB CREDIT BUILDER IS A GREAT INVESTMENT.....IF YOUR JUST TOO CHEAP MAYBE BUSINESS CREDIT IS NOT FOR YOU....TRY PERSONAL

Johndoe I think you missed the point. Stroked and Brndnh are not saying it is a bad program. They are merely telling all that in most cases there is an easier and cheaper way to achieve credit. If you pay attention you will learn that these guys are neither cheap nor lackluster on investments. Actually... I have learned that they are both very methodical credit builders who manage to stay ahead of the trends.

[johndoe3]

Its not only one way to build business credit nothing is written in stone. I dont have time to be playing childish games trying to avoid dnb. I need my score as high as possible and truth be told once I bought the credit builder my scores increased faster and all of my trades posted the same month. I have friends who tried to build business credit and had to wait 3 months to get a paydex score due to the fact that dnb would only post one trade a month because the creditbuilder was missing. Before I had the credit builder I checked my report and my financial statement was not on the report. As soon as I got the credit builder My financial statement showed up on the banking side of the report. You want to build business credit.....Your financial statement states the business made 300k last quater but you cant afford $100 for dnb to analyze your business and complete your file. It doesnt make sense your prolly a scammer

[BRBiz]

Its not only one way to build business credit nothing is written in stone. I dont have time to be playing childish games trying to avoid dnb. I need my score as high as possible and truth be told once I bought the credit builder my scores increased faster and all of my trades posted the same month. I have friends who tried to build business credit and had to wait 3 months to get a paydex score due to the fact that dnb would only post one trade a month because the creditbuilder was missing. Before I had the credit builder I checked my report and my financial statement was not on the report. As soon as I got the credit builder My financial statement showed up on the banking side of the report. You want to build business credit.....Your financial statement states the business made 300k last quater but you cant afford $100 for dnb to analyze your business and complete your file. It doesnt make sense your prolly a scammer

Wow!.. Your not going to last long here with this know it all attitude. But yes you are correct nothing is set in stone and there are many variables. With that said there is no reason to buy anything from DNB and no reason to submit financials to them, if a company wants them for a large credit line then they can request them from the business directly. They shouldn't even be allowed to sell products like they do but at the same time this is why they are losing the respect of lenders and businesses.

 

FYI you need at least 3 trades from a couple different vendors to even get a paydex with or without the credit builder, it doesn't speed up the process and if you know business credit like you think you do then you should know that the paydex score really doesn't matter just like suggested credit limits don't matter.

 

The credit builder is $900 not $100.

Edited June 5, 2013 by Brndnh721

[johndoe3]

Oh wow I'm the know it all I been coming to this credit board for 8 months now and all I see is comments from you bashing other users who try to state there experiences and opinions. The rep at dnb gave me a month to month plan. You make statements as if a user those not follow your blueprint they have committed treason against the business credit community. If someone want the credit builder to speed the process great. If u don't because you see no need great. But don't try to make statements like it's totally useless and a waste of time just because u have a personal vendetta against dnb. Go threw most of the post on this board and you see brndnh721 destroying anyone who opposes his theology on business credit......its pointless

[BRBiz]

Oh wow I'm the know it all I been coming to this credit board for 8 months now and all I see is comments from you bashing other users who try to state there experiences and opinions. The rep at dnb gave me a month to month plan. You make statements as if a user those not follow your blueprint they have committed treason against the business credit community. If someone want the credit builder to speed the process great. If u don't because you see no need great. But don't try to make statements like it's totally useless and a waste of time just because u have a personal vendetta against dnb. Go threw most of the post on this board and you see brndnh721 destroying anyone who opposes his theology on business credit......its pointless

Do I have a blue print some place? If so please let me know where I put it since I must have lost it. If you think the builder speeds things up then good for you spend away DNB loves you for it. Add your trades then cancel your plan like many do and see how quickly your trades disappear.

 

Lurking the boards for 8 months and just recently posted and then want to come on and do some bashing! We have word for people like you.

[GR8WhiTE]

THE DNB CREDIT BUILDER IS A GREAT INVESTMENT.....IF YOUR JUST TOO CHEAP MAYBE BUSINESS CREDIT IS NOT FOR YOU....TRY PERSONAL

Actually it's overrated. Not a great investment. I've used it and it doesn't speed up anything. You're talking to BR like he's new to business credit. You choose to pay and he does it for free. If you had real massive size tradelines, then it would be worth it. What your doing can be done for free. But if you want to pay, have fun. Other people spend $100 a month and get 9 trade references without touching creditbuilder.

Edited June 5, 2013 by steelcity

[johndoe3]

You sure can get 9 trades without touching credit builder but dnb is gonna give you a run for your money.....you might have to wait 7 months for all the trades to post because your corp will not be in dnb's favor. If you order the credit builder and order from 5 net 30's in one month dnb will post all of the net 30 trade's as soon as you pay them off. Me and my buddy's have tested the waters with dnb. If you dont have the credit builder be prepared to wait because there gonna cater to the corps that are paying them.

 

And another thing Brndnh721 you stated there was no reason to upload financials to dnb. WOW 2,000 post and you never figured out that secret. FYI you dont have to upload a financial statement and your corp could still get credit but your file with dnb will not be complete which may cause offset ratings. Some creditors might want to see a snapshot of how much the corp made last year or last quater/banking history and the financial statement is what they will use. Trust me uploading the financial statement and getting it signed off by a cpa adds a huge amount of vadility to a corporation. Dont take my word for it go on dnb and look up walmart and 7-11 food store credit report and you will see a financial statement attatched to there file.......

[prevostconstruction]

You sure can get 9 trades without touching credit builder but dnb is gonna give you a run for your money.....you might have to wait 7 months for all the trades to post because your corp will not be in dnb's favor. If you order the credit builder and order from 5 net 30's in one month dnb will post all of the net 30 trade's as soon as you pay them off. Me and my buddy's have tested the waters with dnb. If you dont have the credit builder be prepared to wait because there gonna cater to the corps that are paying them.

 

And another thing Brndnh721 you stated there was no reason to upload financials to dnb. WOW 2,000 post and you never figured out that secret. FYI you dont have to upload a financial statement and your corp could still get credit but your file with dnb will not be complete which may cause offset ratings. Some creditors might want to see a snapshot of how much the corp made last year or last quater/banking history and the financial statement is what they will use. Trust me uploading the financial statement and getting it signed off by a cpa adds a huge amount of vadility to a corporation. Dont take my word for it go on dnb and look up walmart and 7-11 food store credit report and you will see a financial statement attatched to there file.......

Johndoe I think you place too much gravity in the hands of DNB Credibility Corp. They are not "DNB". In most cases they can only do the things you can do yourself. They are the go between guys. I too have creditbuilder. I had the credibilty corp to submit a request asking for my company to be back dated and after speaking to someone at dnb on the gov't contractor side, learned that I could have submitted that request directly and had the changes made instantly instead of waiting on the request for 5 days. And as far as adding trades...they are not very swift on that. Trust me. I had to fight them tooth and nail to verify my trades. Since you are so familiar with them...you must know that verifications are outsourced to India and it takes forever for them to even receive the request.