topic Re: NAV business boost? in Business Credit

NAV business boost?

Anonymous — Wed, 18 Sep 2019 15:05:36 GMT

Just curious if anyone currently uses or used Nav business boost? I just got an email saying they will report $39.99 per month payment to credit bureaus which will improve credit.

Re: NAV business boost?

PutThatMoneyOnTheTable — Wed, 18 Sep 2019 16:05:36 GMT

Never heard of them and honestly IMO would not recommend this. Put that money towards your monthly payment (if you have any) and trust and follow the process and your credit report and scores will improve.

Re: NAV business boost?

Anonymous — Wed, 18 Sep 2019 16:09:54 GMT

The question is how many other TL's do you have? If none then I guess it could be worth $40 a month to have them report. That is up to you to decide.

IMO though, I would rather use that $40 towards merchansdise on Quill or Granger. Or any other Vendor that reports, as oppose to paying a subcription fee for the sake of it.

Re: NAV business boost?

spiritcraft1 — Wed, 18 Sep 2019 16:15:18 GMT

Apparently, NAV premium is changing as well.

"Today, Nav is excited to announce our newly revamped paid plans. As a loyal Premium customer, you’re the first of our customers to learn about the changes.

Over the past year we’ve added new features to your Nav Premium account like cash flow analysis and full Equifax business credit reports and scores. With today’s relaunch, we’ve added even more value with additions to our identity protection services and, for the first time ever, will be raising the quarterly price to $89.97."

Re: NAV business boost?

Anonymous — Wed, 18 Sep 2019 17:18:06 GMT

I would only do it if you are already subscribing to the business credit reports. It’ $10 a month above the normal fee for business reports to get the tradeline option. If you don’t subscribe to Nav and only use the free reports, then subscribing to get one tradeline is not worth it imho.

I actually think it’s a good idea from Nav’s perspective and I think people building business credit may find some value in it. Especially if you have a business that does not have physical products and have no use for Quill, Granger, gas, and the other tier 1 trade lines.

Re: NAV business boost?

spiritcraft1 — Wed, 18 Sep 2019 17:23:15 GMT

@Anonymous wrote:
I would only do it if you are already subscribing to the business credit reports. It’ $10 a month above the normal fee for business reports to get the tradeline option. If you don’t subscribe to Nav and only use the free reports, then subscribing to get one tradeline is not worth it imho.

I actually think it’s a good idea from Nav’s perspective and I think people building business credit may find some value in it. Especially if you have a business that does not have physical products and have no use for Quill, Granger, gas, and the other tier 1 trade lines.

I agree with that. I don't know the value of reporting if you have many trades already.

Re: NAV business boost?

Anonymous — Thu, 19 Sep 2019 02:37:14 GMT

I saw the email today explaning to the new options and then I moved the email into the Nav folder otherwise known as the trash.

Re: NAV business boost?

Anonymous — Thu, 19 Sep 2019 09:30:30 GMT

You can double up that monthly and buy yourself a new tradeline (new net 30) every other month on your own. Difference is you'll be spending on goods and services that you would have spent on anyway instead of giving the money away.

Re: NAV business boost?

Anonymous — Thu, 19 Sep 2019 18:42:36 GMT

@Anonymous wrote:
You can double up that monthly and buy yourself a new tradeline (new net 30) every other month on your own. Difference is you'll be spending on goods and services that you would have spent on anyway instead of giving the money away.

Many mordern business have no use for the goods and services traditional vendors that report tradelines provide. So getting tradelines is a challenge several companies are trying to address.

As for the service Nav provides. it is about 10% the cost of buying the business reports directly. Business credit report are not detailed like personal credit reports anyway so paying D&B or Experian for a little extra detail is not worth it imo

Re: NAV business boost?

Anonymous — Thu, 19 Sep 2019 22:30:01 GMT

Looks like they will report the trade line to all 3 bureaus.

NEW! Build business credit with all major bureaus

Business Boost gives you full business credit reports and scores from the bureaus that matter, PLUS a new positive tradeline with all three bureaus to help you build business credit faster and track your progress. Nav reports your monthly plan payments to the 3 major business bureaus so you can quickly go from credit ghost to lender-ready, and with no risk of negative payment history. Put your business on the fast-track to strong business credit and avoid the capital headaches most business owners face. Nav has already helped over 11,000 business owners establish business credit.

If you are just starting out looks like it would be a good way to get 3 tradelines for 40 bucks. You could always downgrade after you start getting more tradelines.

Re: NAV business boost?

Anonymous — Thu, 19 Sep 2019 23:09:28 GMT

Well after some consideration, I'm thinking this might be an option for me. ATM I only have one TL reporting to EXBIZ, and very short time.

I don't even know who it is, Quill or Amex. I've had 2 Amex BIZ cards for the past few months, April and May. Then later Quill, so i think it might be Quill reporting. It shows 31 for BIZ Score with 3 for stabilty. x Business Scoring Worse: 30% The rest ll have green check marks .

For me Quill does offer stuff(household goods) I buy normally at close to the price of my local store, so with free shipping I call it a break even. But I only order about every 2-3 months. So it's not exactly a quick process. I was going to try Granger, but not much there that I can actually use. I wish Amex would report though to show a little more TL experience.

While I do really like them, i don't want all my BIZ cards to be through them. lol

Re: NAV business boost?

Anonymous — Fri, 20 Sep 2019 00:00:31 GMT

@Anonymous wrote:
Well after some consideration, I'm thinking this might be an option for me. ATM I only have one TL reporting to EXBIZ, and very short time.
I don't even know who it is, Quill or Amex. I've had 2 Amex BIZ cards for the past few months, April and May. Then later Quill, so i think it might be Quill reporting. It shows 31 for BIZ Score with 3 for stabilty. x Business Scoring Worse: 30% The rest ll have green check marks .

For me Quill does offer stuff(household goods) I buy normally at close to the price of my local store, so with free shipping I call it a break even. But I only order about every 2-3 months. So it's not exactly a quick process. I was going to try Granger, but not much there that I can actually use. I wish Amex would report though to show a little more TL experience.

While I do really like them, i don't want all my BIZ cards to be through them. lol

With Quill, you need to order $50.00 min for them to report. 2-3 orders and they should start t report. Grainger you can order batteries. I know you can probably get them cheaper at a local store but to start getting TL you may have to. Uline is good if your company ships anything. Also Fed Ex and UPS you may want to try.

Re: NAV business boost?

Anonymous — Fri, 20 Sep 2019 10:01:16 GMT

I agree with the "modern" business analogy ie. "office" vs blue collar however I still think there are many vendors that sell useful enough items for office heavy businesses. Add $10 to the $40 NAV wants and there is a never ending list of items anyone would need on a daily basis for office or home. Advertising products also. Vistaprint (business cards) reports as does FedEx Kinkos. Mobile phone companies (TMobile), BlueHost (web hosting/domains) I believe has a Net 30. Just saying that for $480/year, you can actually get some hard goods or current services paid for plus a TL or 2. NAV handing out 3 TLs is nice but you are paying for it in the end. Doesnt seem as revolutionary as the marketing is making it sound. Feels kinda like DnB with their creditbuilder product.

BTW not knocking it just playing devils advocate.

Re: NAV business boost?

Anonymous — Fri, 20 Sep 2019 10:37:53 GMT

FYI as a plus for the NAV product... you do hit your 5 pay experiences in month #2 for a Paydex score unless I am misunderstanding the guidelines.

Re: NAV business boost?

CreditGuy03 — Fri, 20 Sep 2019 16:36:38 GMT

This actually is good for every business if it works as expected.

How many of us have Net30's out there that don't report?

Seton, MSC, UPS(spotty reporting), Gemplers etc all do not report. Some that do report only report to one or 2 bureaus(Summa, SNS etc)

If Nav can actually get these account reporting and to all 3 bureaus then its a benefit to every business. I don't see why any business would not take this.

My only question is what happens when you cancel? Do the reports remain?

Re: NAV business boost?

CreditGuy03 — Fri, 20 Sep 2019 16:38:06 GMT

@PutThatMoneyOnTheTable wrote:
Never heard of them and honestly IMO would not recommend this. Put that money towards your monthly payment (if you have any) and trust and follow the process and your credit report and scores will improve.

Nav is the business version of credit karma. They are legit

Re: NAV business boost?

Anonymous — Fri, 20 Sep 2019 19:41:23 GMT

I can see adding it for 3-5 months. After that downgrade as you should have added more accounts. Getting 3 accounts right off the bat, especially if you are starting out for $40.00 is not bad. I look at it like this. If you are already using nav and paying the new price of 29.99. By paying $10.00 more you now get 3 tradelines reporting. Not sure where you can get 3 tradelines reporting for a full year for only $120. man I think I may have talked myself into it now. lol

Re: NAV business boost?

Anonymous — Sat, 21 Sep 2019 01:10:22 GMT

Hi. I signed up today for their business boost $40/month plan.
My account needed to be confirmed and I was too lazy to do that so I was happily surprised when rep from Nav called me to confirm/set up an account. Made a good impression.
She told me:
1. It should report on October 1st
2. You can add multiple business that belong to you to it
3. You can cancel anytime but wasn’t sure if it will stop reporting
I will keep posting to this thread once I’ll have more to update.

Re: NAV business boost?

CreditGuy03 — Sat, 21 Sep 2019 01:29:41 GMT

This is excellent. I will sign up my business too. Makes a lot more sense knowing your efforts are being reported to all 3 bureaus

Re: NAV business boost?

Anonymous — Sat, 21 Sep 2019 06:18:13 GMT

@Anonymous wrote:
I can see adding it for 3-5 months. After that downgrade as you should have added more accounts. Getting 3 accounts right off the bat, especially if you are starting out for $40.00 is not bad. I look at it like this. If you are already using nav and paying the new price of 29.99. By paying $10.00 more you now get 3 tradelines reporting. Not sure where you can get 3 tradelines reporting for a full year for only $120. man I think I may have talked myself into it now. lol

ETA: I see what you did there ($10 extra per month x 12)

$40 x 12 = $480. I think what confuses many here and I am guilty of it as well is that many are used to how personal TLs report. Personal TLs in almost every case report to the 3 majors every month... not so on the business side. You are lucky to get a business TL to report regularly to 1 bureau on a consistant basis with accuracy... 2 bureaus is a gift and 3 is golden. If used properly in the beginning stages of credit building it would make sense for those looking to expedite the process a bit as it can be a bit tedious when starting out. All in all if you already subscribe to NAV then its a no brainer. If you do not already subscribe, its a bit more of a leap as new businesses tend to keep a tight reign on expenses for the first couple of years.