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Paydex Vs. Rating

The last post in this topic was posted 5517 days ago. 

 

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I just saw that i have a paydex of 80

?? Is that the highest you can get, but

i have no rating yet, so my ? is:

should i wait to get my rating or does it matter.

or... with my paydex of 80, can i go on a credit app

shopping spree. :angel::P:yahoo:

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Guest missty1029

The rating is different and D&B states you cannot get this without paying for creditbuilder. What it is Im not sure. Your Paydex is what is looked at for credit and since you got it your good to go.

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Guest missty1029
well i did pay for creditbuilder lite, so i should have something for my $199

but thanks for the info creditqueen

 

 

Are you being sarcastic????? :good::good:

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Guest missty1029

I meant the credit queen part

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Misty, I interpreted that part as a compliment to you! You are VERY informative and have proven to learn a lot very quickly. You are quick to reply to people, accurate in your responses, and you're always the first to admit to fellow CB'ers when you don't know the answer ... Just to let you know... I like to follow your posts because YOU'RE MY CREDIT IDOL! And that's not sarcastic! I am sure there are many who follow this board who would agree we like your spunk girlfriend and we're rooting for you in your credit journey...:yahoo::clapping:

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yeah misty, what mary said. and yeah mountain, i am communicating with them

on this matter, but my rep is out of town at the moment. but hey i paid before i knew about CB, you know a Freshman mistake, so now i've moved up to junior status, thanks to the CB members.

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Guest missty1029

Okay I feel better!!! lol

Thanks guys. I just want to help others to succeed!!!!!

Im blushing over here!!!!

 

Yea koneent I would be on the phone with the rep if I paid anything to those people. Hey be happy you did the creditbuilder lite an they didnt get you for the full $199!!! You should be given a rating and they should have verified some company info to have on your report. Good luck and let us know how it goes.

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no misty they did get me for the full $199, credit builder lite costs $199 as supposed to $499 for god knows what, they created the file for 199, but hey! i

didn't know about CB at the time. and thanks IM for the highest score ans. Well

Hell thanks to all of you here at CB, I've never gotten so many credit cards in such a short time, hard to do with personal credit well nowadays, years back

i did it personaly before the credit system gotten so high tech.

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Misty, I interpreted that part as a compliment to you! You are VERY informative and have proven to learn a lot very quickly. You are quick to reply to people, accurate in your responses, and you're always the first to admit to fellow CB'ers when you don't know the answer ... Just to let you know... I like to follow your posts because YOU'RE MY CREDIT IDOL!  And that's not sarcastic! I am sure there are many who follow this board who would agree we like your spunk girlfriend and we're rooting for you in your credit journey...:good:  :cry2:

Looks as though we have some Credit Board lovin happenin' here tonite :cry2:

 

I must agree w/ ya's. Missty is a sweetheart. I really like her snappy, to the point responses, She's can always bring something to the table. AND when needed, she quick to stick a fork in those that need it.(Joshtpa)

Missty; youre an angel. :cry2:

 

Thanks for all your help!

Edited by Tycoon

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Guest missty1029

Okay guys your really embarrising me here!!! lol

Koneent I mean tto say $$499!! The big ticket!!

 

Lol

 

HEy I am happy to help anyone I can. I am thankful I can here and had people help me. Thei Biz credit thing is really a plus for us broke/bad personal crdti people who want to make something for themselves is the business world!!

 

I am glad everyone is doing good and I hope to always be able to add something!!!!

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Misty, I interpreted that part as a compliment to you! You are VERY informative and have proven to learn a lot very quickly. You are quick to reply to people, accurate in your responses, and you're always the first to admit to fellow CB'ers when you don't know the answer ... Just to let you know... I like to follow your posts because YOU'RE MY CREDIT IDOL!  And that's not sarcastic! I am sure there are many who follow this board who would agree we like your spunk girlfriend and we're rooting for you in your credit journey...:clapping:  :clapping:

Looks as though we have some Credit Board lovin happenin' here tonite :good:

 

I must agree w/ ya's. Missty is a sweetheart. I really like her snappy, to the point responses, She's can always bring something to the table. AND when needed, she quick to stick a fork in those that need it.(Joshtpa)

Missty; youre an angel. :angel:

 

Thanks for all your help!

 

Mary and Tycoon!

 

I'm with ya both! :yahoo:B)

 

Missty, :angel:

 

You're posts are notable for saying what you know, specifying what you don't, and not avoiding controversial threads. A very winning combination in my book. ;)

 

Take care,

Skipper

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koneent

 

You said you paid $199 for CB Lite? I talked to someone at DB and they told me that I could use the service but it would do nothing. I've read other posts that have said that CB Lite does everything that CB does except you can't add references. The only thing I can see that CB does is add references unless I'm totally missing the boat. In order to get your 80 Paydex what did you have to provide to DB other than the $199?

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Guest missty1029

Filmguy not to bust in on your question but the way you get a paydex is by applying for credit accounts and paying your bills. If D&B can add trade references and payment history then you can get a paydex. But its a chance you take because if the trades report automatically they wont add them.

What creditbuilder also does (supposedly) is reserach your compnay information to verify if is a valid business and give you a rating which is I believe is a risk and financial strength rating. Again most people myself being one has gotten a Paydex without creditbuilder or a rating.

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Filmguy, it was not worth it, they basically didn't do anything for me except create the file, add info that i told them to add and if they couldn't verify something, they stated they couldn't verify so they used application date, basically not worth $199, i'm still waiting on some information to be corrected, nothing damaging, just want everything perfect on my file.

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MY 2 cents

 

A Paydex is a rating of your payment history with creditors reporting (credit builder generated or otherwise).

 

DNB also has ratings that can affect your ability to garner credit as well, such as financial ratings. These are not the same as a PAYDEX, but believe me, are looked at by some potential creditors.

 

DNB has many many financial scoring models that creditors utilize all the time. In my other career (before I started my own biz) we often used DNB for credit info on our suppliers to drive down costs, and better understand who we were doing business with and their financial state/wellness.

 

A paydex alone will not give an accurate in depth snapshot of your financial picture for most companies. However, it will give you a quick and dirty snapshot of their overall pay history. But let's say you have 11 accounts reporting and most of them are between 1k and 5k and they are all on time...and you have a couple of $50.00 late 10 days also,...generally speaking, your Paydex will still be 80, even though you have lates, etc. Paydex are weighted by dollars, so even though you have "perfect" scores as an 80, it can be misleading if you think an 80 gets you whatever you want.

 

Time in business as verified by DNB, length of accts, type of accts. all play into the picture.

 

For our company, this has been a great reason for us to utilize credit builder services, and payment investigations as we have some old suppliers we have net 30 accounts and net 60 accts that do not report to DNB or Experian. As such we really needed that history on our credit to beef up the type of lines we have. A couple of credit cards just does not suffice when you try to buy equipment, engage in leases, etc, etc.

 

Maybe this info will help some of you...maybe not?!? But just thought I would add some thoughts in case.

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The last post in this topic was posted 5517 days ago. 

 

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