Urge Your Vendors to Report Part II
October 8th, 2008
By The XBanker
A few months ago, I reported on Experian’s effort to get companies to report business credit accounts to Experian. Now D&B is trying to make it easier for companies to report as well. They have launched a free service companies can use to report their accounts receivables to D&B from Quickbooks.
I can say from experience that in the past, reporting to D&B has been difficult and expensive. While I haven’t given this service a try, it sounds like it could be a very useful tool for business owners who want to report. Business owners who are trying to build business credit may want to urge their lenders and vendors to check it out.
The downside, of course, is the possibility that mistakes and false information may be reported. Without a law that gives business owners the right to view and dispute their credit information for free, it’s possible that one of your vendors or clients is reporting wrong payment info — and you don’t know it.
If you try out this service, I’d love to hear how it works for you!
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How do you refute a mark against your business credit report? Advanta Master Card reported to our business credit (assuming that its DUNS( is there another business credit agency)) That we did not pay our Feb bill due March 4. We have carried this now defunct card for over two years. Never late on a payment and always pay the entire balance due. We had a credit line of 30,000. Using an average balance of 5,000. Over the Memorial holiday we received by email and US mail the familiar letter that the credit card and its services would no longer exist as of May 30. Upon application of another card I found out that we had this on our report It is the ony negative for our business or personal credit which we value highly. Now the Advanta no longer exists. Our check was dated the 24th , mailed the 25th and posted the 7th. In full payment. Probably a mail delivery problem BUT how can I have any say so about this? The online disputes and problems with Advanta are enormous. Do I have to pay for DUNS services to have any chance of removing thisAND how long does it stay on our record?