Dun & Bradstreet: A Paydex score is only the beginning, NOT the end!
Your Company’s D&B Report
Your company’s D&B credit report is the first place to start when building your company’s credit, and quite frankly, the furthest our competition is able to get their clients. Starting off on the right foot with D&B is important as this report will always be gone back to as you apply for more and more credit accounts.
A lot of misinformation on the web will lead business owners to believe that an 80 Paydex score is more important than it really is. An 80 Paydex just means that you set up 3 NET-30 accounts and paid the invoices off on time. The REAL horsepower from D&B comes from having a fully rated file with them. The sample reports below will show exactly what we mean.
Example 1: DUNS Number Only
Notice here that paying DNB is usually is a waste of money, and will get you to example #3 at best. Then you will have no idea where to go to get real approvals.
Example 2: Bad Business Credit
Notice here the collections and slow pays. 90% companies look like this! That is why it is SO important you don’t join a self-service or “coaching” program. You need this done right ASAP. This is because of ONE simple little bill paid a few days late! A $50 bill you didn’t even know about ruining your chances of financing your dreams!
Example 3: Basic Paydex Score
OK this is a start, but DON’T get too excited… it means you have separate business credit yes, and a file started but little else. It just says that what credit you do have you pay on time. What is the result? Basic office supply and gas cards, AT BEST. THE START, an e-book result.. see who “sells” business credit to pay $60 to $10k for this result elsewhere.
Example 4: Proper TrueBuild Results
This is the minimum that your file should look like. Do you see a company that pays its bills on time? This is the NORMAL result with us and why every other service in this industry is left scratching their heads. If you want real no PG business credit and to truly separate your business and personal this is how its done and you won’t find real information like this anywhere.
How to Monitor Your D&B Report
Credit monitoring is one of the most essential aspects of building business credit, otherwise you’re just flying blind. Having access to your company’s FULL credit reports will reveal potential derogatory items, mistakes, or outdated information that may be holding your company back from getting the funding it needs and will be required to correct any of these items.
For this, TrueBuild Recommends NAV
NAV is a low-cost solution for business owner’s to monitor all 3 of their credit reports with D&B, Experian Business, and Equifax Business. They offer a free account, which displays a generalized letter grade on each report in place of the full score and a limited view of the information on the report, and a Premium account which gives you access to your company’s complete business credit reports with all 3 major credit reporting agencies.
Click the following link to get a FREE 1-month trial for NAV Premium and start monitoring your company’s credit today!