OfflineSo I applied for my Duns number and have been waiting to receive it for about a month now which they said it will take 30 days... Still haven't gotten it so I called them today and asked them for it. They gave it to me and said this is an unvalidated number. The only way I can get validated is to purchase their credit builder program. So I said I'll think about it and I went to try and enter my info for an eupdate password and it wont let me... Says I need to call b/c they need more info...
Do you really have to purchase the credit builder to get a validated account or can you get a paydex score they way it is? And could the reason be I can't get an eupdate password is b/c my account is not validated?
I know the credit builder is a really good idea but I don't have the money right now...
What do you guys think?
Thanks,
Shaun
I have 2 LLC that I’ve received a duns number for. On the second, I ordered their credit builder option to speed up the process of building credit for that particular LLC, but for the first, I opened a few credit card accounts using myself as essentially a guarantor of the card. At the time, I didn't know what a duns number was, but six months later when I looked into getting one for the first LLC, I was surprised to learn I already had one. It seems that once credit is used in your business name by other businesses and that credit usage is reported to D&B, D&B issues you a duns number. Once I had the duns number, I opened a charge account with a couple retailers buying small merchandise with them and paying it back every month. That had the effect of dropping the default risk level for the LLC and increasing the recommended credit availability.
That's just how I got my duns numbers. It seems that if you are initiating the process of getting and tracking one for your business, you pay for it. If the process begins with other businesses making credit available in your business name and using D&B to seek and report info on your business, then you only have to pay to check your business credit report. D&B is in business to make money by providing a valuable service, but if you can get around generating the initial credit process yourself for a business, so much the better for you. Keep working on it.