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A330Heavy

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  1. Update: I received an email from D&B CreditSignal, I finally have a NET 30 trade reporting. I'm not sure which NET 30 account it is, but it shows the activity as being from 09/2018. Seems it takes time for D&B to update their databases whereas Experian updates nearly immediately. Hopefully all my other tradelines will follow and begin reporting.
  2. Added Info: I called D&B but they keep giving me the hard sell for the Credit Builder Pro. I had Credit Builder Pro and thought it was a waste of money as many of the companies I have trades with say they automatically report every month to D&B. When I call D&B to inquire why they're not reporting, I get the hard sell for Credit Builder Pro because, "the companies say they might be reporting, but what they really mean is they'll report the tradeline if we contact them for the information....", 🐴 💩 which I believe is to be a total lie and when I repeat that Quill, ULine, etc., all tell me they report, D&B sales says I must not understand, and what they mean is they will report via credit builder by verifying the info. 😠 😠 😠 🗯️
  3. The title says it all. I have multiple NET 30 accounts that my business has been using for a few months now including Quill, ULine, FedEx Office, Amazon Corporate Credit Line NET 55 by Synchrony Financial, as well as Grainger. UPS invoices me as well, but those are usually small payments. I have several accounts reporting to my Experian Business without any problem and they report promptly. However, the only thing on my D&B Credit File is 3 "cash experiences" Payment Summary ----------------------------------------------------------------------------------------------------------------- Other Categories ----------------------------------------------------------------------------------------------------------------- Total Total Dollar Largest High Payment Within Days Slow Received Amount Summary Terms <31 31-60 61-90 91+ ------------------------------------------------------------------------------------------------------------------ Cash experiences 3 $150 $50 Unknown 0 $0 $0 Unfavorable Cmts 0 $0 $0 Placed 4 Collect DB 0 $0 $0 Other 0 N/A $0 Total in D&B File 3 $150 $50 ------------------------------------------------------------------------------------------------------------------- Under Payment Details it reads: Date | Paying Record | High Credit | Now Owes | Past Due | Selling Terms | Last sale w/f (Mo.) ---------------------------------------------------------------------------------------------------------------- 9/2018 | (001) | $50 | $0 | $0 | cash account | 2-3 mos 9/2018 | (002) | $50 | $0 | $0 | cash account | 2-3 mos 12/2017 | (003) | $50 | -- | -- | | 1 mo The above is exactly as it appears. What are these "cash accounts"? I have a lease on a credit card POS terminal that's $36 a month, could that be one of them, or would a lease report differently? What are these accounts most likely, any ideas? I have noticed the date on the first two is updated every month, it started reporting 7/2018, then 8/2018, and now the date reads 9/2018. Could one of the cash accounts be my monthly business insurance payment for general liability & asset coverage, that's around $50/month... ? I'm a bit puzzled as I have multiple NET 30 tradelines and a NET 55 tradeline, all of which I'm using, and not a single one is on my D&B report. Anyone know why these tradelines wouldn't be reporting, or is it possible ULine or Quill is reporting as this $50 "cash account" even though they're NET 30 accounts where I receive an invoice and pay the invoice by check or via online bill pay from my business checking account? The NET 55 is Amazon with a $5000 credit line, Grainger is a $1000 C/L, FedEx Office, and others. I have been paying the NET 30 invoices early, as it's my understanding that'll increase Paydex Score to greater than 80. Is it possible paying the NET accounts early is causing them to not report or report as cash experience? I really want to get my PayDex score established and I'm slowly growing impatient with each month that goes by and I don't see a single NET tradeline on D&B. I'm using the tradelines and I'm paying the invoices early. There's several tradelines I'd like to establish which would best benefit my business, but they require a PayDex score of 80 or greater. The NET 30 and NET 55 accounts are only a few months old, but several of them report correctly to Experian Business and I can figure out who most of them are by last 4 of the account number or high balance dollar amount. No tradelines on Equifax Business last time I checked. On the other hand, it would seem to me I'm at least doing something right. The Amazon Corporate NET 55 tradeline by Synchrony Financial has a $5000 C/L and was approved without PG. My company is also registered with SAM for federal govt contracting and we have a CAGE Code and all that good stuff -- I don't know if that plays a role or not but even uncle sam is pulling D&B inquiries for our business relationships. My business is in a growth spurt and I really need that PayDex so I can continue to grow and obtain credit and tradelines with favorable terms. My business turns 3 years old in December, but I didn't start establishing trades until late May / early June this year. Thanks in advance for any feedback, assistance, comments, advice, help, responses, etc.... Appreciate the help! A330 Heavy
  4. When did you begin applying for business lines of credit? It takes time to get trades established, D&B in particular seems a bit slow at listing new tradelines and establishing a PayDex score. Give it some time and patience. In the meantime, keep building NET 30 tradelines and use them regularly. Develop NET 30 tradelines with your suppliers and companies you regularly do business with. My most recent tradeline was an Amazon NET 55 account with no PG and a $5000 CL, but I had to establish other, more basic NET 30's first. Do you have any business credit cards? You may want to look at obtaining a business credit card as they'll use your personal credit in the decision making process. You should be ok as long as personal FICO is north of 660, that seems to be the hard cutoff point. Look for a card that does not report to your personal credit (I understand some Capital One Biz Card's report to personal credit) but reports to business credit agencies like D&B, Experian Business, and Equifax Business. A personal guarantee will be required.
  5. A330Heavy

    The new guide to establish business credit.

    How long does it take for trades to post to D&B? They seem to report to Experian Business quickly, but reporting to D&B is taking forever (at least it feels this way )
  6. A330Heavy

    Change Business Name

    First post here but I've found the resources here to be helpful. On that note, I am currently changing my business name. I am setup as an LLC and I'm filing an amendment to my Articles of Organization to make the business name change. I've spoken to my bank, D&B, and Experian Business. They all have said this should not have any impact on my business credit. I will be submitting the Amendment to the Articles of Organization on Monday to the Secretary of State's office. I have a press release ready to go regarding the name change that'll get sent out through a presser distribution service I use and I will submit updates with D&B and Experian Business once the official record updates with the secretary of state. Additionally, it's necessary to contact the IRS and advise them of the name change for your EIN / FEIN. The EIN / FEIN should remain the same. Unless it's absolutely necessary to update your business name, you may want to look at using a fictitious name / assumed name (aka DBA - Doing Business As). I'm a Kentucky LLC and here it's an assumed name filing with the Secretary of State office. If I run into any snags, I'll update the community, but I've done my due diligence, consulted my business attorney, and spoken with my bank and two credit agencies. A330Heavy Tradelines: ULine D&B Experian NET 30 Quill not yet reported NET 30 FedEx not yet reported NET 30 FedEx Office not yet reported NET 30 UPS not yet reported NET 30 Amazon/SYNCB D&B Experian $5000 Credit Line - NET 55 - NO PG 2 unknown "cash account" and 1 unknown "cash own option" also on D&B -- have no ideas what these are. In business 2.5 years. Recently Denied: Staples NET 30 by Citibank - Applied NO PG LOWES Commercial NET 30 by SYNCB - Applied NO PG

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