New account just setup credit 101 and file code?

[Anonymous]

I was able to follow the instructions on credit 101 to get D&B setup and I got the report which really has not much data.

So the report has a credit rating of DS ? what is this?

[llecs]

Found this via DnB:

DS (DUNS Support): This indicates that the information available to D&B does not permit us to classify the company within our Rating Key. When ordering these reports, an investigation can be performed and results sent to you at your request for an additional fee.

[Anonymous]

How would I go about establishing credit for the account ? Do I need to PG a card with my business first?

[Creditaddict]

To get D&B to confirm your business and start publishing a score to give to possible creditors you have to sign up for there service, otherwise your account will just show your address and not confirmed by D&B when someone pulls it.  I did it for my last business but this time around decided it was not worth it, because you can almost always call in and get a creditor to pull EQ or EX business reports.

[Anonymous]

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@Creditaddict wrote:

To get D&B to confirm your business and start publishing a score to give to possible creditors you have to sign up for there service, otherwise your account will just show your address and not confirmed by D&B when someone pulls it.  I did it for my last business but this time around decided it was not worth it, because you can almost always call in and get a creditor to pull EQ or EX business reports.

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The expedient way of doing this is signing up with D&B, but I have never signed with them or paid them one nickel.

As I obtained credit accounts, they were reported to D&B by the creditor, and added to the D&B file on my business, and when enough accounts were on there, I got the Paydex, and eventually the rating as well.

The "DS" rating will usually change to a "--" after a phone call initiated by D&B to you at your listed business telephone number. 

EQ I can't comment on, I've never seen my report.  EX, however, seems much better at finding and listing your business accounts.  That EX report will usually produce a score for your business faster than D&B will without the expensive signup.

For the most part, any accounts you're going to get at the outset will be approved via your personal credit anyways and will be PG'd, regardless of a D&B, so why spend the money?

At least, that's how I look at it.  

[Anonymous]

thanks Uborrow-Upay but a business Credit means taking a risk for the business not for my personal credit and I do not want to mix my business with my personal life.

 I'm willing to wait to build the credit since I've had the business with no credit file since August 2000.

[Creditaddict]

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@Anonymous wrote:

thanks Uborrow-Upay but a business Credit means taking a risk for the business not for my personal credit and I do not want to mix my business with my personal life.

 I'm willing to wait to build the credit since I've had the business with no credit file since August 2000.

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These days you can't get much without PG (which would be based on your personal credit). 3 years ago you could get anything under the sun without pg if you had some established business credit... they all went down in flames with the crash of credit

[Anonymous]

I'm going to try the net30 to see if i can build credit that way from an account.

[Anonymous]

+1 to Creditaddict.

aot2002, just to clarify something here...is your business incorporated (an LLC, perhaps) or are you a sole proprietor?

[Anonymous]

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.

How can I help you?  *ME*

I just needed to make sure you understand the way your report is used and who pulls it.  Anyone who needs to background check or make a credit decision on behalf of your company only will use this report.  We have never completed our verification process on your company and until we do, the report remains incomplete.  If you don't mind me asking, what held you back from letting us verify and complete your file?  Was it the service fee involved or were you just unsure of what information to provide?  Please let me know so I can help you set the report up correctly.  Thank you.  *D&B*

I didn't get as far as the details of the company information but I called =
to ask about viewing my file which I've already done, that was my main goal=
. At this point I've been approved for credit with a few companies and I ju=
st wanted to see the details that already existed on my report as I've been=
 in business since 2001 and never viewed it.
The price is what turned me off the most, I have no reason to pay for somet=
hing that I don't need, I understand that you can build a credit file but h=
onestly I don't need it that bad I already have credit established.


Here's some preliminary info
Business since 2001
Main Phone # ************
Annual Sales 83,567 in 2009
Predicted Sales in 2010 between 85K - 93K
4 Employee's work for the company currently
Our company builds software for a variety of needs.
Address: ******
If you want more details from my company for what ever reason just email me=
 what you need and I'll send it over to you.  *ME* 

You have personally guaranteed all of your accounts, they are just in the c=
ompany name.  When you want the company to stand on its own for credit plea=
se let us know, that is when we will create your file for you.  For now you=
 just have a number in our system.  Please review the following on your nex=
t steps and let me know when you are ready or if you have any questions.  *D&B*

I've not heard of any company providing credit without personally guaranteeing it?
What good would it be to pay this amount for your credit file when no company that I've applied for in the past uses company credit without PG?  *ME*

That is because you are  waiting to be asked for a DUNS number.  You need t=
o ask for commercial applications so you can enter your DUNS number for the=
 company.     *SNIP* removed all the sales crap details *SNIP*    *D&B*