D&B (DUNS #) worth it?

17 Replies

Have owned a corporation for a few years, excellent credit all around.

No problems at all, just looking to continue to boost my credit worthiness in case I need a LOC or similar.

My company has a DUNS number, but I don't know if anything is reported on it.

1) Does a DUNS # do anything

2) Is D&B legitimate, or just a scam? My only interactions with D&B have both been poor. From a phone call trying to sell me a credit report, to their terrible website, they just seem shoddy.

Any advice to pursue or not?

Thanks
WC

Hey West Coast!

I have wondered the same thing... I have heard that if you get a D&B rating... you can and may get pre-approved business credit cards, line's of credit, and other offers in the mail etc.

D&B is like the credit bureau for business... I do know you can "Add" lines to your D&B from vendors you have used before to build your rating...

Let me know what else you find out... I may be interested in this too!

If you cant find anything else out, let me know. I do know of someone who has done this first hand for the purpose of building a business credit rating, and I can ask him.

I figured out my own answer, and put it in the other forum here.

anyway, basically a scam, but you don't have much choice but to play ball.

Very ridiculous, and they squeeze a decent amount of money out of you, but that's how the game is played at my commercial bank.

i was a member of this forum a while back and I just decided to come back
saw some cool posts to I am getting back into it.

on DnB
when you say "it's a scam" you should say that you do not have to pay for your DnB number...they try to make you pay for credit builder when you dont

but DnB and busines credit is not a scam
DnB controls 70% of the Business Credit Reporting market
I do not work for them

I actually dont like dealing with them
but please do not mislead the readers

i blog on business credit
I have experience in building business credit......
i just dont want people reading to get th wrong impression

I agree with chuff.

You definitely should apply for a DUNS #. Forget all the hype to get it faster for a fee or build credit for a fee. Do it the free way. After a week or so you get your number and get on their email promotions list, plus can edit your member info for free. What's is nice about the promotions is they also some services on a trial basis once in a while, which is when I take them up on it. I research my roofer, building suppliers, and other contractors, etc.

I have had a DUNS # for my other business for 10 years or so and have, ironically, just applied for a DUNS # about a week ago for my REI biz. Most of the time, it does nothing for me. But, once in a while it makes all the difference. It is another thing that shows you are serious about your business, which is why I applied for one for the REI biz.

Thanks for the lil chime Heathen
I only say that because from reading through many posts, business credit is portrayed as a scam or some sought of black magic....each community has its own culture but I have seen these kind of views in 2 or three forums that I belong too.....

Basically, here is how it works...

You pay D&B to build your business credit. I think I paid 549.00. They are very helpful to you and answer all your questions UNTIL they get your payment. Then good luck getting through.

They will call you again, only to hound you about all of the non reporting vendors that you do business with such as the plumber, contractor's, etc...They REALLY want that info because they want to call them and HOUND them to sign up for the 549.00 business package...If they get up to 6 vendors from you and 6 vendors from them, well you get the point. They SAY it is for business credit references....

My business credit hasnt changed since i gave them my money.

If your business credit looks good, leave it be i say. Keep your money.

most of that statement is true but not all of it is fair

there are ways to get the dnb number in 24 hours
and i cover that in my blog
but the credit builder that dnb sells does help to build credit faster if you know how to use it..

Originally posted by "chuff1026":
most of that statement is true but not all of it is fair

there are ways to get the dnb number in 24 hours
and i cover that in my blog
but the credit builder that dnb sells does help to build credit faster if you know how to use it..

what statement are you referring to? If it is true, how is it not fair?

It's a SCAM, because you have to pay them to allow 'positives' on your credit report. But, they can put negatives on it at anytime. But only negatives.

It's basically extortion. But as I have said in other forums, their extortion might be a worthwhile investment for some companies.

If you know it's a SCAM going in, you still might need their services, just don't let them take you for a ride.

west coast
you simply do not know what you are talking about

if you pay or not, positive comments can be reported

i have 6 companies that alll have good credit without me paying DnB a cent..

please comment only on topics that you know

marC

I just went through this with one of my businesses. Literally, last month, I just did this.

Bank says.... you have a slow payment on something.

I say, sure as hell no way I have a slow payment.

Call D&B, already have my free DUNS #.

Hey D&B, what's up? Ok, only negatives can report to your score.
Until you pay $250, we can't report positives.

Are you ******** me I say?

No sir, serious.

So I pay my money.

Transfered to someone in India who can't help me. Call back, and get the same transfer treatment.

Unless you are getting something of value that I am not, this is called a SCAM.

My banker says it's a SCAM (but told me to play ball, as they pull D&B credit reports for all business requests).

Every single professional I know has said it's scam, and I run more than one business.

Now, like I said, SCAM or not, it might STILL be of interest, or value to some people. It sounds like it is to you, and you have some reason to protect some crappy company like D&B.

I'm going to trust my banker, my experience and my business associates more than you here.

Originally posted by "WestCoast":

Call D&B, already have my free DUNS #.

Hey D&B, what's up? Ok, only negatives can report to your score.
Until you pay $250, we can't report positives.

ok...
what happened here is that the rep lied to you to make a dollar
they do that all the time...but if you knew a little more you will know that

i am not saying DnB is honest or nice to work with
but they simply lied.....

check out THe LIes of DNB -http://mybusinesscreditblog.com/?p=21

I guess we're both saying the same thing, I'm just more mad about it.

If I call a corporation directly and their sales people lie to me directly, that is way passed the realm of 'bad business' and is a SCAM in my opinion.

I appreciate the link, I learned my lesson and hopefully won't get scammed by their staff again.