Anyone using Amazon Business? Do they report to D&B?

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Originally Posted by DFBrews

Sturtle I understand your frustration with this thread

Iego I do not know your business back ground but I know Irving?s and as small independent human with a small business I have personally set up accounts with vendors and got the pricing tiers that I did solely on my D&B score

If I had to do a personal credit inquiry for every vendor account it would be detrimental

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Irving isn't just asking for an account, he's asking for a loan.

-John

I'm not looking for a loan, nor do I need one. I like to use loans in examples because it is an easy concept. Again, I'm looking to build credit.

The best way to build credit (and protect yourself from fraud) is to sign up for a credit monitoring service. Transunion, Equifax, Experian, each offer this service.

Then lock down your credit at each of the credit bureaus above.

Then, responsibly use credit for things like houses, cars, etc.

-John

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Originally Posted by Irving

I'm not looking for a loan, nor do I need one. I like to use loans in examples because it is an easy concept. Again, I'm looking to build credit.

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I'm a bit confused, because the only reason you need credit, is for loans.

-John

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Originally Posted by iego

The best way to build credit (and protect yourself from fraud) is to sign up for a credit monitoring service. Transunion, Equifax, Experian, each offer this service.

Then lock down your credit at each of the credit bureaus above.

Then, responsibly use credit for things like houses, cars, etc.

-John

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Your advice is for personal credit. Business credit is not the same thing

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Originally Posted by iego

I'm a bit confused, because the only reason you need credit, is for loans.

-John

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Try putting an Xcel bill or phone contract or many other things in your name with no credit history.

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Originally Posted by Irving

Income doesn't mean anything for credit. A business can have $200,000 cash in the bank and not qualify for a $50,000 loan if they have no credit history.

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In my experience, while that may be somewhat true on the private side (they do consider income re: account limits, btw), lenders on the commercial side were highly interested in revenues, balance sheets, length in business, tax returns, etc. Way more than a D&B score. YMMV, and structure may impact.

However, I usually preferred cash or COD accounts on a business-to-business basis for a few reasons, one being that it is impossible to get underwater and receivables was easier on those accounts. I really didn't have any valid reason to "need" net-30 terms for most of those accounts, and I had several.

Whether or not they'd have check D&B, I doubt it, they heavily pushed it and IIRC, they relied more on personal credit. D&B has always in my experience been more of a middle - big business concern, and I don't think it hasn't aged very well in modern data. I'm pretty sure after years of operation, my business, like most others, had no D&B rating at all. Lenders can't rely on that. It's a dinosaur.

Yeah in fact, I just searched it. To show you how advanced D& B is, despite all the plethora of public record out there, they list my company currently at an address that existed something like... 9 years ago. That's how out of date they are - they don't even have the tech to harvest annual reports from the state or any public directory. (are you f%$ing kidding me).

This is corporate, btw. AND they want $139 to provide a report. I am 100% positive that in all those years, nobody has provided any information to D&B or you'd think they would have more recent information. Pretty sure in all our history nobody checked it either. Not a hobby business either, btw... had employees.

Creditors would have to be utterly stupid to rely on that shit, it's not 1965 anymore.

Which brings me back to my very first post. Most places aren't reporting to the business creditors.

There is more to credit than just loans. Seems like I've gotten a dead end here. We can probably wrap this up.

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Originally Posted by Irving

Which brings me back to my very first post. Most places aren't reporting to the business creditors.

There is more to credit than just loans. Seems like I've gotten a dead end here. We can probably wrap this up.

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Figured I'd jump in here, if a bit late. (disclaimers: not an expert/professional in this area, just general info based on personal experience; process may vary based on entity type)

My understanding is that, assuming you already have the business accounts set up and whatnot, when you go to apply for a business line of credit, you'll supply your TIN (EIN), but as you have no credit history with that, they'll also use your SSN to run initial credit.

Once you have the credit account up, it will function similarly to personal credit, but tied to the business TIN; you can start using that to build a credit history (depending on the entity type), your personal SSN/credit will no longer be needed/used for the business (at least in this context).

D&B is also useful, but from an entirely different perspective.

Hope that helps address the main question...