New account just setup credit 101 and file code?

[Uborrow-Upay]

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@Anonymous wrote:

LLC business 

I got a call from D&B today and they pushed for the 400+ signup to start the file. He said that I could get credit anywhere without PG credit and started the sales pitch to me.

here is some of their responses.

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The D&B guy does have a point.  You can get credit without a PG if the company (on its own) has strong financials to back it up.  Think sales volumes in the $ millions here, at least, along with audited P&L statements, etc....as well as longevity.

For what it's worth, the verification process for D&B is usually the phone call you receive after viewing your report.  They ask you questions about what your company does, how it bills, where your service areas are,  locations, etc. etc.  The "DS" rating changes to "--" after that call, normally. 

Just for the heck of it, ask the D&B guy if you'll be getting bank cards without a PG if you sign up for the service.  I already know the answer, but I'm interested in hearing his.

[aot2009]

the response was "That would all depend on the bank that you are dealing with and the scores that your company has."

[Uborrow-Upay]

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@aot2009 wrote:

the response was "That would all depend on the bank that you are dealing with and the scores that your company has."

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Yup.  That's the answer I was expecting.

My company has a good Paydex score, and a DUNS rating, and longevity, too.  But in my case, the banks still want a PG, no matter what. 

I've never filed company financials with D&B, and I never will.  Perhaps that would make a difference, but I doubt it. 

This is just my opinion, though...others here may have had different experiences...but the business credit environment has changed dramatically in the last couple of years.  My feeling is that unless you're something along the lines of Soutwest Airlines or Burger King*,  you'll have to PG any bank cards.

*Burger King may be having its own difficulties these days, too!