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Net 30 Vendor Account Updates

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Hey Team!!!

Who all are still here in 2020??? 

 

I have a question. I just purchased an account with NAV (the one that reports monthly) and my credit reports are not what I thought they would be. I had the free account since Aug/Sept of 2019 and thought that the information was limited because it was the free account. Well, when I upgraded today it still does not tell me the name of the accounts that are reporting.

 

It also states that DUNS does not have enough payment history to make a report. What!!!

 

Soooo.... did I pick the wrong Net 30 accounts???  Do I not have enough accounts created to have them report? 

NOt sure what happened here, but I thought when Is spoke with a D&B rep in November I had an 80 Paydex score. Even when I had the free NAV account it said I had "B" rating for D&B and an "A" for Experian and nothing for Equifax. I am so confused. Please HELP!!!😟

 

I currently have:

Uline

Quill

Grainger

Supply works (1 order - I don't have the credit card, I have to place my order online and I use my Net 30)

 

Summa -  Just order from them today (May 2020)

Nav - Just signed up with the today as well.  (May 2020)     

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6 hours ago, BossLady08 said:

Hey Team!!!

Who all are still here in 2020??? 

 

I have a question. I just purchased an account with NAV (the one that reports monthly) and my credit reports are not what I thought they would be. I had the free account since Aug/Sept of 2019 and thought that the information was limited because it was the free account. Well, when I upgraded today it still does not tell me the name of the accounts that are reporting.

 

It also states that DUNS does not have enough payment history to make a report. What!!!

 

Soooo.... did I pick the wrong Net 30 accounts???  Do I not have enough accounts created to have them report? 

NOt sure what happened here, but I thought when Is spoke with a D&B rep in November I had an 80 Paydex score. Even when I had the free NAV account it said I had "B" rating for D&B and an "A" for Experian and nothing for Equifax. I am so confused. Please HELP!!!😟

 

I currently have:

Uline

Quill

Grainger

Supply works (1 order - I don't have the credit card, I have to place my order online and I use my Net 30)

 

Summa -  Just order from them today (May 2020)

Nav - Just signed up with the today as well.  (May 2020)     

 

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Posted (edited)

Good morning ALL. Haven't been on here in quite some time. Just a little information to share. NONE of the business credit reporting agencies will name a creditor when reporting a tradeline. Quill is no longer offering net 30 terms while the world is dealing with this PANDEMIC (per a credit rep that I spoke with last Friday). Summa Office has 2 tiers.  Tier 1 (Strategic Network Solutions) reports to Experian Business & Credit Safe. Tier 2 (Summa Office Supplies) reports to D&B. An outside firm (Behalf) reports payments to D&B. They will conduct a soft pull on your credit report & they require a minimum of $300 to be purchased in order to report. Definitely NOT recommended for a Tier 1 account. Supply Works reports to Experian Business. D&B requires only 3 tradelines to produce a PAYDEX SCORE.

 

P.S. Wells Fargo Secured Business Card reports to D&B. They require a $500 minimum deposit and will still do a credit check.

 

P.S.S. Look at TY CRANDALL's YouTube videos for a lot of free insight. By no means am I telling anyone to purchase his products.

Edited by MoRegard
forgot something

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Hi MoRegard

 

Have you had luck with NAV reporting? Just paid my 3rd month with them and they still have not reported.

(business builder or whatever they call it)

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On 12/13/2019 at 12:39 PM, MaxMaximum said:

 

To get a free Duns number just apply or set up a starter vendor account with Quill, Uline, Grainger and pay on time. That payment experience will auto generate a file with D&B as they report to them.

Or go here and register as a federal grantee and contractor you will be provided your new duns in 24-48 hours

 

http://fedgov.dnb.com/webform

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I am working on building my business credit.  I opened my business in March 2017, and opened a few accounts around that time. I fell off track, and hadn't been building it like I wanted to.  I should be much further along, but I am going to get back on my journey!  This is what I have so far:

 

Uline: Not approved for N30. I need to make a purchase first I believe.

Quill: Not approved for N30. I was told by a customer service rep, that I to place an order of at least $100 for 3 months. I made a $100 this month, and will continue doing that to see when they approve me.  I was also told today that due to the pandemic, they currently are not accepting new N30 accounts.

Supply Works: N30

Amazon Business: N30

Grainger: N30

Wells Fargo Secured Card: Revolving account with $500 deposit.  I was told that I need to make 12 on-time payments to be switched over to an unsecured card.  

 

I was originally using a PO Box, but recently got a new address.  Do I go on the DUNs website and change my address, or does it update automatically when my accounts report if I change it directly with the creditors?

 

 

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On 5/3/2020 at 7:28 AM, MoRegard said:

Good morning ALL. Haven't been on here in quite some time. Just a little information to share. NONE of the business credit reporting agencies will name a creditor when reporting a tradeline. Quill is no longer offering net 30 terms while the world is dealing with this PANDEMIC (per a credit rep that I spoke with last Friday). Summa Office has 2 tiers.  Tier 1 (Strategic Network Solutions) reports to Experian Business & Credit Safe. Tier 2 (Summa Office Supplies) reports to D&B. An outside firm (Behalf) reports payments to D&B. They will conduct a soft pull on your credit report & they require a minimum of $300 to be purchased in order to report. Definitely NOT recommended for a Tier 1 account. Supply Works reports to Experian Business. D&B requires only 3 tradelines to produce a PAYDEX SCORE.

 

P.S. Wells Fargo Secured Business Card reports to D&B. They require a $500 minimum deposit and will still do a credit check.

 

P.S.S. Look at TY CRANDALL's YouTube videos for a lot of free insight. By no means am I telling anyone to purchase his products.

 

I have subscribed to him for a long time and he wants a lot of damn money.. I am not doing it. I am considering investing the the 4 tradelines that D&B is offering.. I just can't wait anymore to try and build I am spinning my wheels. 

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On 5/4/2020 at 8:57 PM, 1PALME said:

Hi MoRegard

 

Have you had luck with NAV reporting? Just paid my 3rd month with them and they still have not reported.

(business builder or whatever they call it)

Yeah see I can't see in spending in all these other places when I can use Duns to directly report my tradelines. They will do all the calling and verifying.. If you call them up they will provide special offers..

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Posted (edited)

Hello Team!

I am just checking in to see how everyone has been doing since the pandemic. I slowed down a bit, but recently applied to a few vendors and got denied for two after having such a winning streak. I currently have:

 

Uline

Quill

Summa Office Supply

Grainger

HD Supply Works

Strategic Network Solutions

Nav

Amazon Net 30 - $3000 Pay by Invoice account; They do not report by the way (Denied Net 55)

QT Gas (WEX) - Conditionally approved; Requested Deposit ($500). Not sure if I want to place  $500 deposit on a Net 30 account??? They do report to D&B and Exp. Is this worth it? 

 

Denied:

Amazon Net 55 

Office Depot - stated that they needed 3-4 years in business; will consider 3 with a lot of healthy tradlines and payment history. I will be three years old in December. So they encouraged me to reapply then. Wished I would have know prior to applying. 

 

What are some other Net 30 accounts that are not listed that I could add? Has anyone used a deposit to secure business credit and if so how did it work out? Thanks!

Edited by BossLady08

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Hello Team!

 

 I have one more question. Has anyone noticed that when applying to various net 30 accounts (or any account), the vendor is asking for your information including SS# on the application. There is no option to even go around inputting your information. The application will not submit unless you do. From my understanding the government is requiring that these companies obtain personal information from the person applying for credit for identification purposes ONLY.  I didn't start getting denied vendor accounts until I started entering my personal information into these portals. I know they said it is for informational purposes only, but I feel like they are doing some sort of screening. I don't have perfect credit or really bad credit  (EQ 689; EXP 697; TU 704), but I am debt heavy in student loans. So, I am not sure if this is what impacted these decisions. According to my NAV I have the following reporting:

Paydex Score = 80, 5 Reporting

Experian Score = 92, 3 Reporting

Equifax Score = 372, 1 Reporting

 

After being denied for WEX, Amazon 55, and Office Depot I moved on to Lowes Accounts Receivable and Staples, but when I saw the section to enter my personal information I didn't continue.  

 

Thoughts or advice?

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Hey everyone! Sorry I haven't been back on here is a while. So far I have over 16 TLs reporting to D&B. Not sure how many are reporting to Experian and Equifax. Also, repaired my credit and PG'd some credit cards from major banks like AMEX and Chase. Was able to get a couple of Sam's Club Mastercards NO PG with $11k credit limit as well.

 

Later on, I will have to post what I did to get to this point. I spent money to learn most of this information, but I can give back where I can.

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On 9/17/2020 at 7:18 PM, Darealiz12 said:

Hey everyone! Sorry I haven't been back on here is a while. So far I have over 16 TLs reporting to D&B. Not sure how many are reporting to Experian and Equifax. Also, repaired my credit and PG'd some credit cards from major banks like AMEX and Chase. Was able to get a couple of Sam's Club Mastercards NO PG with $11k credit limit as well.

 

Later on, I will have to post what I did to get to this point. I spent money to learn most of this information, but I can give back where I can.

Looking forward to seeing your update. Also, did you repair your personal credit yourself? I read this entire thread. I have enjoyed reading your story. So I was not focused on my biz credit. I have a business that started Jan 2020. Now that business in growing rapidly, I am now interested. What I have so far is below. Any suggestions on what next and how to improve Experian and Equifax 

 

What I have so far: (Prob not in order) Can't figure out which accounts are reporting these are the ones I know. 

Quill

Uline

FleetCor (Secured)

Sprint Wireless

Ally Financial (PG on this one - needed a new company van) - reporting to all DNB & Experian

NAV - just signed up yesterday - not reporting 

 

80 PAYDEX - 5 tradelines reporting 

51 Experian - 2 accounts

388 - 1 account (sprint)

 

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On 9/17/2020 at 8:18 PM, Darealiz12 said:

Hey everyone! Sorry I haven't been back on here is a while. So far I have over 16 TLs reporting to D&B. Not sure how many are reporting to Experian and Equifax. Also, repaired my credit and PG'd some credit cards from major banks like AMEX and Chase. Was able to get a couple of Sam's Club Mastercards NO PG with $11k credit limit as well.

 

Later on, I will have to post what I did to get to this point. I spent money to learn most of this information, but I can give back where I can.

 

Im very interested in hearing your information.. I just started my journey.. Im looking for the phone number to Amazon right now they said they couldnt verify my business name although I have 8 lines reporting..

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Quill, Uline, and Grainger no longer provide trade credit or Net 10/20/30 days credit to new businesses . However, They will open an account with you if you  pay by cash, credit/debit cards for up to 90 days. After that, they MAY offer you a trade line of credit equal up to the total amount of what you spent with them already or you can apply for an open line net account and possibly get approved.

 

Bear in mind, most of these vendors like Quill, Uline, Grainger, Reliable office supplies etc., that the business credit gurus talk about in their videos and form training programs and charge you thousands of dollars for, are giving you false hope.. These companies are already onto the technique and have changed their policies on approving new businesses for Net trade credit... DO NOT spend hundreds or thousands of dollars on programs with these guys.. They need to update their information and/or create new content with the revisions.

 

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17 hours ago, voyager950 said:

Quill, Uline, and Grainger no longer provide trade credit or Net 10/20/30 days credit to new businesses . However, They will open an account with you if you  pay by cash, credit/debit cards for up to 90 days. After that, they MAY offer you a trade line of credit equal up to the total amount of what you spent with them already or you can apply for an open line net account and possibly get approved.

 

Bear in mind, most of these vendors like Quill, Uline, Grainger, Reliable office supplies etc., that the business credit gurus talk about in their videos and form training programs and charge you thousands of dollars for, are giving you false hope.. These companies are already onto the technique and have changed their policies on approving new businesses for Net trade credit... DO NOT spend hundreds or thousands of dollars on programs with these guys.. They need to update their information and/or create new content with the revisions.

 

 

You can always count on Strategic Network Solutions to establish biz credit, although I suggest making sure you have $60-100 you can just throw away since the software they sell is antiquated and overpriced.

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On 9/17/2020 at 8:18 PM, Darealiz12 said:

Hey everyone! Sorry I haven't been back on here is a while. So far I have over 16 TLs reporting to D&B. Not sure how many are reporting to Experian and Equifax. Also, repaired my credit and PG'd some credit cards from major banks like AMEX and Chase. Was able to get a couple of Sam's Club Mastercards NO PG with $11k credit limit as well.

 

Later on, I will have to post what I did to get to this point. I spent money to learn most of this information, but I can give back where I can.

Hello did you have to go into Sam's Club to apply for the Mastercards..

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