If you believe there are discrepancies, you may need to work with a credit repair company to validate the reported data and or clear your record of errors. Any changes that involve what is stored about your company must be taken up with D&B directly.Īs long as you are conducting legal business and your transactions aren’t negative, you won’t have to worry about what is being reported. Data that is automatically reported will be stored with D&B. That being said, companies only have control over the public profile listed on D&B. How To Monitor The Reported Business Credit ActivityĬompanies can see accumulated data about their business on credit reporting agencies like Dun & Bradstreet. Have ways to mitigate charge backs and returns.Have contingency plans if cash flow is interrupted.Make sure you are paying your invoices and debts on time.To prevent negative reports, always do the following: If a vendor is going to automatically report on your business credit, that is advantageous assuming it was a positive transaction. They may not be able to work with major clients or retailers without a good credit score.Special financing through invoices and short-term loans may not be available to them.Without good credit, it is hard to qualify for loans.If a company doesn’t have good credit, they can fully miss out on critical opportunities: The simple fact of the matter is that companies need good business credit. Why Work With Vendors That Report Business Credit? Many vendors that offer Net D will report business credit. (Without the fees like a credit card usually has) The advantage of Net D financing is that it allows companies to acquire inventory or business items with a set amount of time to pay it back. (We’ve covered this extensively in other articles, so be sure to read those for more information on Net D financing) There is also the matter of finding a vendor that will finance a purchase with Net D. Net D terms are more common for large purchases. One accumulates interest rapidly, the other does not. How Net D Comes Into PlayĪlthough there isn’t a right or wrong when it comes to making purchases with “credit”, there is a distinct difference between using a credit card and an invoice. There are so many industries today, that it is likely another will be able to submit the reported data you want. If you are still unsure of whether a vendor reports business credit, you can also just look for another vendor. Major retailers require that their vendors have a D&B number) (If they are working with a large company like Wal-Mart in particular, you can be sure with 100% certainty that they will report business credit. Of course, if a supplier is an established vendor of goods and or works with major retailers like Wal-Mart, they are likely to already possess a Duns number. You could ask whether the company reports through a business credit reporting agency. Any business not using a credit reporting company like D&B isn’t going to report business credit. There you can search up whether a company is listed with its own D&B profile. The easiest way for you to determine if a company will report business credit information is to check the Dun & Bradstreet website and use their search directory. Simply purchasing items and signing invoices can be a positive way to use vendors that report business credit.
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