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New Contributor
sandrachicago
Posts: 65
Registered: ‎02-08-2013
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New business credit D&B reporting

I just opened LLC and got DUNS number and their creditbuilder file. Personally, I will apply for a mortgage in next few months so I can't absolutely have any credit inquiries. Is there anything I can get with DUNS only no personal credit check? After I get mortgage I plan to apply for business vehicle with personal guaranty but by then I would like not to have totally empty file..thanks for your time

"Enriching others will flow that same energy back to you."
Valued Member
drcc2013
Posts: 55
Registered: ‎05-23-2013
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Re: New business credit D&B reporting

curious?..your going to apply for mortgage with PG or Business only

New Contributor
sandrachicago
Posts: 65
Registered: ‎02-08-2013
0

Re: New business credit D&B reporting

Mortgage is totally personal nothing to do with business, I just gave the reason why I can't PG for business account
"Enriching others will flow that same energy back to you."
Valued Member
drcc2013
Posts: 55
Registered: ‎05-23-2013
0

Re: New business credit D&B reporting

oh ok...net 30 accounts is the where you should start

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Senior Contributor
myjourney
Posts: 26,620
Registered: ‎02-07-2013
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Re: New business credit D&B reporting


sandrachicago wrote:

I just opened LLC and got DUNS number and their creditbuilder file. Personally, I will apply for a mortgage in next few months so I can't absolutely have any credit inquiries. Is there anything I can get with DUNS only no personal credit check? After I get mortgage I plan to apply for business vehicle with personal guaranty but by then I would like not to have totally empty file..thanks for your time


Call and see if you can cancel creditbuilder its a waste of money..I doubt they will but you can try. As a new business i'm sure you can use that money else where.

Congrats on the LLC

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13


New Contributor
sandrachicago
Posts: 65
Registered: ‎02-08-2013
0

Re: New business credit D&B reporting

I might also add I only have home address for now.
"Enriching others will flow that same energy back to you."
Community Leader
Senior Contributor
myjourney
Posts: 26,620
Registered: ‎02-07-2013
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Re: New business credit D&B reporting


sandrachicago wrote:
I might also add I only have home address for now.

Has no bearing on business 

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13


Established Contributor
scenery_guy
Posts: 958
Registered: ‎07-24-2012
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Re: New business credit D&B reporting

To be honest here a DUNS number is useless unless you will be doing government contracting. I have started 3 businesses over the last 23 years and it has done me absolutely no good. To pay for a service is a very bad idea, I wish you would have posted before you spent money. No crying over spilled milk, we are here to help now. 

 

EX and EQ compile a separate business credit file and it does seem like those might get pulled and viewed. But again I would not put much weight behind those either. 

 

It comes down to some form of a PG for small business credit (large corporations are not in the same situation even though you might be incorporated). What that means in plain English is if you want business credit that's not a couple of small net 30 accounts for cardboard boxes or pens and paper you will need to sign a PG. Yes, hold off for the mortgage but when you are thru that mess pick a rewards card for business credit and put all your spend on it, reap the rewards and build a thick file with that lender. When the time is right do it again with a different lender. This will be a much faster way to a business credit file while earning rewards you can personally use. Keep in mind that the initial pull will be on your personal report after that point it will not appear on your report unless you default. That's good as the ULT will no longer matter. You can max the card, let it post then PIF. Do that every month and watch the credit limit increase. Meanwhile your personal report is spick and span. 

Epic Contributor
Creditaddict
Posts: 20,909
Registered: ‎10-23-2007
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Re: New business credit D&B reporting

as others have said D&B is old and not really used that much anymore... now EX and Equifax have a business credit file that I feel more people pull from than D&B.  My partner says they don't use them at work because they are VERY expensive to pull from and for us the business owners that want to build the file... all they do is sell you products... reporting my business credit should not cost me money to have verified or accounts added... If you are paying, or if you recently paid within the last 30 days I would CANCEL... demand a refund... and dispute it with the credit card company if they won't refund you.... you can do anything yourself without the service if you insist on getting your D&B report with stuff on it.... but it doesn't sound like you have any accounts so not sure what you would actually be getting by paying for the service... no accounts... no score!

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