Let’s get to your questions from this this week!
Some vendors such as Reliable asked me to pay my order up with a credit card instead of bill me later……my company and dnb profile is about three weeks old…..will that transaction still be reported to corporate experian or dnb?
Tamel
Limited Enterprise Inc.
Detroit
Reliable is one of the credit vendors that sometimes asks for a credit card for the first order. What a lot of people don’t know, is that they ask for the card initially to speed up processing, this doesn’t mean that they won’t process your order if you don’t give it. Ultimately, it doesn’t really matter because Reliable reports all transactions, pre-paid or not, to the credit bureaus. So you’ve got no worries. As a safeguard, I would add a second order on net-30 terms after I got my first one shipped out on my credit card, but that’s just me. We’ve got a blog coming up talking about this trend with Net-30′s to ask for payment relationships before they report, and how the industry is changing, stay tuned for more on this.
I officially started my business in 10/07 and registered with my state and immediately applied for a D&B number the same month. When I go to eupdate and look at my report it shows my date applied as 6/13/08 but I actually received my DUNS number in 10/07. It does show my company filing date and status attained as 10/07. How will this effect me in getting business credit? It looks as if I just started 2 months ago when in fact it’s been almost a year.
Ahhh, the dreaded DnB “Start Date”. There are, in fact, two different dates of importance on your DnB file. The first is the business start date, which you can change to reflect a period before your incorporation if you happen to function as a sole proprietor; the second is actually in the Rating Summary section, and it has NOTHING to do with your incorporation date. In fact, the “Date Applied” title you see, in fact,only refers to a date that DnB “applied” a rating to your company. No worries Monti, you’ll be fine, and live to build credit for many days in the future!
–Elijah
