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ta4141

Mysterious "Cash Account" on DnB Report

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Hello all!

 

A little history, I've been in business for 2-years. Just recently began researching building my business's credit.

 

I logged into the iUpdate DnB website to obtain my business's DnB report, and was shocked to see an item listed, even though I have not previously applied for anything in the past. My business had ZERO credit.

 

It listed it as a 'Cash Experience' with the "largest high credit" of $750. It contains no information on it's payment in terms of the days until it was paid.

 

Below this, it states under "Payment Details" that it was reported on 5/13 with nothing stated under "now owes" or "payment due". It just states that mysterious $750 amount as the high credit.

 

It has the Selling Terms listed as "Cash Account", and has the last sale as "within 1 mo". (should i be scared?)

 

Is this a mistake by Dnb?? I have no clue as to what this could be or even how to find out what it could be!

 

Thanks in advance!

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Not usually a mistake.. Do you have any places that you have a credit account with? There is a few places that report that way if you just pay cash.. Some say Grainger does that but I can't really confirm that.

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Hello all!

 

A little history, I've been in business for 2-years. Just recently began researching building my business's credit.

 

I logged into the iUpdate DnB website to obtain my business's DnB report, and was shocked to see an item listed, even though I have not previously applied for anything in the past. My business had ZERO credit.

 

It listed it as a 'Cash Experience' with the "largest high credit" of $750. It contains no information on it's payment in terms of the days until it was paid.

 

Below this, it states under "Payment Details" that it was reported on 5/13 with nothing stated under "now owes" or "payment due". It just states that mysterious $750 amount as the high credit.

 

It has the Selling Terms listed as "Cash Account", and has the last sale as "within 1 mo". (should i be scared?)

 

Is this a mistake by Dnb?? I have no clue as to what this could be or even how to find out what it could be!

 

Thanks in advance!

No, this is actually a nice happening if you are trying to build credit. Bottom line, you already have a supplier reporting on you although you may not be aware of whom it may be! That is good news, a reason to celebrate! Nothing to worry about, really, it may be someone to whom you supplied your company information and opened an account on your business name.

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It's either a mistake or when you bought something from a company that you did not hold an account with, who also reports to dnb, who you also told your company name and or address to, marked and reported it as a cash sale.

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Very interesting! Thanks guys!

 

What's even more interesting is that my business is online-based. I have ZERO suppliers! It's internet service-related. Nothing tangible at all! I checked all of my old receipts for any known purchases in that exact amount, and I have none!

 

For that "cash experience" it says my Paying Record is (001). I looked it up and it looks odd.. something about a warning and then a payment submitted? I'm even more confused. haha

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They round up what your payment was in $50 incurments so more then likely it wasn't exactly $750. It could also just be a mistake but no harm no worries.

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