I hope all if well and your business credit building journey is going well. We are now at the half mark of the year and I hope that everyone is seeing their personal, financial and business goals coming together as planned or better. I like to take stock of my years progress at least every quarter and we are at the half mark of the year so I decided to take some time to go over DnB and their products and services as they seem to always change.
It baffles me why DnB changes its structure of its products and services so often. I have been in this business for 8 years now and I feel like I have scene them change its marketing strategy at least every 6 months. The products that I listed in the Business Credit Bible ebook are no longer available so I decided that I will make the updates in this post.
DnB now offers three main products in order to help us build and monitor out business credit file and they are the CreditSignal (which is free), the CreditMonitor (which is $49 a month) and the CreditBuilder(which is $84 per month). All three of them serve a purpose if you have the money to spend.
The CreditSignal Product – FREE
The CreditSignal is a good little free tool that DnB uses to market or up sell its other products to you but there are a couple good uses for it. This service is free but offers very limit information on your corporation. When you register it simple tells you if a company pulls your credit report and if anything is posted to your credit report. It does not tell you what company pulled the report or what was posted to your credit file. The one good use for this service though is getting your DUNS number. When trying to get a DUNS number, DnB can be a pain in the a**. What we suggested in the past is to simply forget getting your DUNS number right away and establish some net 30 accounts. When one of the net 30 accounts report to DnB your DUNS number will automatically be generated. Once your company is in the DnB database, and you register for the CreditSignal service, you can view your DUNS number at the top of the screen once you login. There is no long process of registering or logging in and this is one reason I like this service.
The CreditMonitoring Product – $49 per month
The CreditMonitoring Product is like an upgraded version of DnB iUpdate. If you do not know what DnB iUpdate is please view http://www.creditrich.net/dnb-eupdate-is-finally-gone/ . iUpdate is a free service that give you access to your credit file and information on your business credit report. In recent times though, DnB has removed certain information that can be accessed through iUpdate like your Paydex score and your ratings. You can see if companies are reporting to your credit file through iUpdate but it simply is not that complete. The CreditMonitoring Product is like a full blown iUpdate. This product:
- Allows you to establish a business credit file without waiting for companies to report to DnB. You will be allowed to submit information on your corporation like name, address, phone number, number of employees and revenue ect. We could have done this for free previously but they do not do this anymore.
- This product also give you unlimited access to your complete business credit file, with history, ratings and paydex scores.
- This also give you alerts when any major change happens to your business credit file such as your paydex score, ratings, a lawsuit or when another company pulls your business credit file. This, although is not necessary, is becoming increasingly important now that Business Identity theft is on the rise.
I recommend this product for people who are serious about building business credit and those who have the extra money to spend, but it is not necessary in the process.
The CreditBuilder Product – $84 per month
The CreditBuilder Product is pretty much the same as the CreditMonitoring Product except for the fact that you can report 4 business trade references to DnB and they will contact the references, confirm what you reported was true and post it to your business credit file. You must be cautious if you are ordering this product solely for posting trade references because you cannot report any and every business credit references. DnB has very strange requirements for the companies that you can report. If the company has the ability to report to DnB already you cannot add them to your business credit references. They seem to change this requirement on a regular basis.
I hope that this helps you with some insight on what DnB has to offer when it comes to helping you build your business credit.