I am building business credit and I got a phone call from a rep from D&B telling me that I need to pay $499 to finish my profile with them..I already have a D&B #, so why do I have to pay to complete a profile? Has anyone had to do this?
Total upsell BS...put that money into marketing.
Congrats on taking action to build your business credit! I was wondering if you would share more about your journey in getting business credit and what your end goals are for business credit. I ask because I want to build business credit to fund deals and I am close to taking action. What steps did you take to start? what where the costs associated? time it takes? and what kind of credit limits can someone get in that time? - Thanks, Sam
The only reason some people purchase Dun and Bradstreet's Credit Builder product is to allow them to add trade references to their credit profile. This can speed up obtaining a Paydex score (need 3 tradelines reporting to D&B). They offer a cheaper product called the Credit Builder Plus for $99 per month. Purchasing it for a few months will also speed up the reporting of your tradelines, because D&B is known for holding up your tradelines from reporting-- in hopes of you responding to their annoying phone calls. Another reason for purchasing this product is to allow you to look at your credit file as often as you like in "iupdate", without getting your file flagged. If you look at your file more than a couple times a month, you can get "red-flagged" because D&B thinks you could be a "scammer" who is trying to build business credit and then default after obtaining cash credit cards and lines of credit.
So what exactly is the story? I would think that " BiggerPockets" would have a link to connect us directly to their site. I am shocked to click on the Image Advertisement and to received other product information. The best information that I did get was from the member that was kind enough to share that D&B has a $99.00 membership other than the $400.00 one that the pervious member shared. The second that I had read that information that the cost was so high I was not even going to bother. I did have my CPA advise me that the New Jersey Business Membership or words similar to that order is an organization that offers many benefits which a big one in the you will qualify for New Jersey Manufactures Insurance after you are a active member for one or two years. Their membership is only $295.00 yearly. For me when I heard that he is paying almost $2000 less in car insurance and almost $1000 less in homeowners insurance than me this is a homerun. I had wanted to join this insurance company for years thinking that I had to be employed by a company who was a member. The truth is that you just have to have a LLC which you probably have for one of your Real Estate Investments. Good Luck and I will look up D&B however you should also know that the other major three credit reporting agencies such as Transunion, Equifax, etc. all have a Business Reporting Division that you can check into my thought is it probably has a very small cost. I know from experience that D&B caters to the large and very large business to access their credit profiles. Good Luck!
D&B is total BS and you can live w/o it - - just like the BBB, it's a paid service for members and non-objective IMO.
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