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Going to Test the D&B Credit Builder!

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Since I have had some back and fourth with some people on here about D&B's credit builder program I have decided I'm going to test out if it really helps as a few here swear bye or if it is a total scam. I just put my company under a corp structure and was going to change my LLC name to a consulting name for my business. My LLC already has credit so I wil try it with my new corp structure. I'm going to start building just like any newbie would with out using any of the little advantages I know. I will keep you guys updated on what I get approved for and at what point and we will see if it does anything at all. I have my doubts unless they just start adding mystery trades.

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Signed up the other day.. The company name is showing but no actual file yet.. From the research I did I think it should establish a rating fairly quickly after getting some trades reported.. Any one that has used it verify that?

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Nope..not going to either since the average credit builder does not do that.. I have basically believed they wouldn't rate you if you didn't submit financials but from what I have seen I don't think that matters.. As long as your buying something from them they will rate your company.

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Guess what the file is there! No paydex but does list commercial credit score 437, Financial stress score 1423, recommended credit limit $2500 and $10k aggressive. Compared that to another similar company and actually my scores were pretty close to theirs minus and they have a 80 paydex. Already got a Grainger account yesterday and will have that maxed out within a week and paid off in a few. Prices are a little higher then most but the next day delivery is key a lot of times.

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As you see I'm doing this as a test to see if it really makes a difference in building credit over the traditional credit boards way.. When did you get rated? And did have to submitt any financials to get the rating? What is your take on what it did for you?

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Brndn -

 

I'm curious about this, too. I was very close to signing up before I saw all the negative reviews on RipOff Report. Hopefully you'll have a good experience, and if so, that could change my mind.

 

Which DnB package did you sign up for? And, what CLs do you have on the new corp? Just Grainger?

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I have had Credit-builder since November 2011. What questions do you have?

 

dis -

 

Since you've been subscribing for 8+ months, you must have seen some good results. What was your business credit profile like pre-DnB versus now? Thanks!

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You need a control. Someone without credit builders who is pretty similar to you in personal & biz income, personal & biz credit score, location, etc. You guys would then apply for accounts on at the same time.

 

Only then could you say whether or not Credit Builders helped you or not.

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As you see I'm doing this as a test to see if it really makes a difference in building credit over the traditional credit boards way.. When did you get rated? And did have to submitt any financials to get the rating? What is your take on what it did for you?

 

Honestly, I would NOT suggest the product. My start-up company became incorporated last year, but we had been doing business under sole. When I purchased the product, my intentions were to add some of the venders to my credit file without waiting forever. Boi, was I in for a B-I-G Shock! Out of six vendors, only one could be added through the application because the other vendors did not report/or have a DnB number. Not to mention, DnB have additional criteria that must be satisfied by loan type, which I vaguely remembers. As mentioned earlier, I purchased the item in November 2011 without financials and nothing moved, but when the financials were added in February 2012, I received a paydex score with only two reporting and ratings quickly. Overall, I think that when purchasing the product, one must submit financials to see ratings as the product outlines. Also, please note: if you add any vendor to your file through Credit builder and cancels the product, DnB will remove that vendor from your credit file!!!!!

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I have had Credit-builder since November 2011. What questions do you have?

 

dis -

 

Since you've been subscribing for 8+ months, you must have seen some good results. What was your business credit profile like pre-DnB versus now? Thanks!

 

I had no file before I purchased Credit Builder, but I had already started following the CB process for getting my file established by getting the net accounts. I really do think that it is a rip-off because all of the vendors that I was being approved for was already hitting and establishing my Equifax SB and Experian file and I paid zero for their services. I, also, put Credit Builder to the test by purchasing EQ and EX products at the same time because I had no files with either. Both agency did require me to send in business information to show that my business was legit, but after that, everything started reporting like clockwork to EQ and EX. Til this day, I have 9 vendors reporting on EX and EQ files; while on the other hand, only 5 showing with DnB. I do have a paydex score of 80 (Finally) with solid scores, but it costs a leg/arm. So, to answer your question, I saw better results with EQ and EX than DnB. Credit Builder did provide me the means of submitting financials and vendors, but I honestly feel that through blended reports is what really helped me establish my file and not Credit Builder.

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Brndn -

 

I'm curious about this, too. I was very close to signing up before I saw all the negative reviews on RipOff Report. Hopefully you'll have a good experience, and if so, that could change my mind.

 

Which DnB package did you sign up for? And, what CLs do you have on the new corp? Just Grainger?

 

 

The credit builder with 4 trades.. Nothing for credit besides the Grainger I just got.. Honestly in my old companies I built up credit with few issues and really at this point I do almost everything in cash and don't really need the credit lines but I did want to test out the credit builder because some either says its a rip offmormothers swear by it.

 

Interesting they want financials for a company just starting out in business!

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Brndn -

 

I'm curious about this, too. I was very close to signing up before I saw all the negative reviews on RipOff Report. Hopefully you'll have a good experience, and if so, that could change my mind.

 

Which DnB package did you sign up for? And, what CLs do you have on the new corp? Just Grainger?

 

 

The credit builder with 4 trades.. Nothing for credit besides the Grainger I just got.. Honestly in my old companies I built up credit with few issues and really at this point I do almost everything in cash and don't really need the credit lines but I did want to test out the credit builder because some either says its a rip offmormothers swear by it.

 

Interesting they want financials for a company just starting out in business!

 

Friggin IPad!!!

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Yea. That's why I asked you did you submit financials. This should be a fun experience.

 

Yes, it was somewhat "fun" at first when I noticed accounts being added and my scores increasing; however, after paying so much for the product, it becomes somewhat annoying price-wise LOL. The greatest let-down was when I was told by DnB that they did not allow American Express charge cards to report to them. That payment history would have really served as a quick off-set because it has a monthly spending average of 6500-7000. Nonetheless, credit-builder serves as no help in this regards. Also, if you want to self-manage your account they do have a self-monitoring service for 19.99 per month, which give you updates about account changes.

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So far I have:

 

Grainger

Reliable

MSC Direct ( I don't think they report though) $500 limit said I could get $100 if I submitt bank info. Could add to DNB down the road since I have 4 trades to add.

Also placed a order with A andn Z Snacks they wouldnt give credit on initial order but will report my pre paid order to DNB and Equifax.. Prices were decent but shipping was way to pricey.

 

Nothing reporting yet on DNB..

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I orderded from them also. Just office candy they where pretty good and not the usual suspect.

 

Super fast delivery.. No biggie on the shipping but if you are ordering all the time it would be a little much.

 

Also just placed a Quill order no issues..

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They are great also really business friendly. What was your average order?

 

Just $50 since it was a first order.. I have never had any issues with them and know others who never have either but a lot on here say they require prepayment for atleast 3 orders so a little funny. But lately they are just approving every one on the initial order even on tech products.

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