DnB has been claiming to be getting rid of eupdate for more than a year now and it seems that it is finally gone, but does this mean any changes in
business credit building?
A couple weeks ago Dunn and Bradstreet announced that as of the 20th of December(today), Eupdate as we knew it for years will be gone, and it seemingly is. When they first announced it I was under the impression that there will be no free way to check your business credit with DnB but that is not the case. As of now, there will be no new users added to the Eupdate program which has now been replaced by iUpdate. (I know, way to go with changing one letter) All new users will have to register for iUpdate and all eUpdate users can use eUpdate until January 8th 2011. eUpdate users will not automatically be registered for iUpdate, they will have to register themselves.
So what are the differences with this new iUpdate? I have not gone through the service completely but I have already found key changes that may hinder your business credit building.
- With eUpdate, we could have called DnB and get the login information over the phone without all the sales associates trying to get us to buy something that you do not need. The system has changed there will not be a way to get your information over the phone.
- I helped a client of mine register for iUpdate and they went through a verification of identity. This is similar to those that you do when registering for a credit monitoring service where they ask you a number of questions related to your personal credit. This really surprised me as no where did they request a social security number. My only assumption is that they pulled the social from the tax id number and the applicant who applied for the Tax id number. I am not clear on how they did this but this is just my assumption
I will be keeping an eye on this new program that DnB is doing and continue to inform you guys of how it will affect us building business credit. What I do appreciate though is the fact that the credit builder is a lot cheaper.
Build Business Credit Now
Marc Augustine
Hello,
I have a question for you– I set up my business profile with DNB a few months ago, since then i have incorporated and changed a few things with my business. I need to change my business name with DNB, as well as my address and phone number. I have called and they tell me that I don’t need to apply for a new DUNS number and all i need to do is update my info. My question to you is, will this “change” look bad to lenders. I paid the $449 for the self monitor and everything that comes with that- I would hate to have to pay again or to lose the little bit of good credit i have managed to build so far. But, at the same time if this change will warrant a “red flag” then i most certainly do not want to do that. Any advice would be much appreciated.
Thank You,
Tara
Tara,
If i were you I will not change the name but the address and phone number will be fine. What you can do it add a DBA to the corporation
Marc
When you apply for a tax ID, nowhere does it ask for your social security number. I assume it pulls your ID info from public records such as your name, address, date of birth, phone number, Etc. That little stuff is easy to find out.
Hello Marc,
I have a similar question, I have been in business as a sole proprietor since 2007, I know i have a dunns number because I get offers from them and they seem to have my updated info. I have no idea what is in my file with them, I’m know thinking of incorporating as a means of obtaining business credit, I never got buisiness credit in the company’s name (dba) how ever my personal credit is not good, i filed for chapter 13 in 05 and just got a discharge in jan.
If I get a shelf corporation, will i get a new file with duns and start from scratch
Also, is there a way to obtain my credit score with duns with out providing all of my personal information to them, as I was told this could hurt my ability to obtain credit