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    5 Replies Latest reply on Jun 18, 2017 11:26 AM by directconect

    Correct Me If I Am Wrong

    robloman1 Wayfarer

      The business credit score works like this: The business credit score works nothing like personal credit. It works on a scale one to eighty: 01 is low and 80 is high. Dun Bradstreet can put you in a higher bracket 80 to 100 Dun bradstreet make their own rules and with that came their higher bracket. If you pay at least 10 days early on every account they will put you in that higher bracket.

      What raises the score?

      Multiple trade references raise your score and tells a company that you’re doing business on a larger scale. This raises your score. Keeping your trade lines current with activity, Meaning buying something on credit and making your payments on time is consistent business the more activity the better and this tells a company you’re doing consistent business. This raises your score. Experian for example: If your trade line does not show any activity  for 3 months they will reevaluate it and lower your score. So it is real important to always have allot of activity on your trade lines.

        • Re: Correct Me If I Am Wrong
          aafable Newbie

          Can you explain what trade lines are?

            • Re: Correct Me If I Am Wrong
              robloman1 Wayfarer

              Your trade line is someone that has extended you credit. You buy a product from a company and you make your payments to that company. This is your trade experience . Trade lines are one of two main factors of your business credit score, They raise your score.

               

              o example:  You apply for credit at office max and they approve you for a credit card. They now report to the credit bureau weather you make your payments on or not.

              Office max is now your trade reference., Referred to as trade lines.

               

              Sent from Mail for Windows 10

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            • Re: Correct Me If I Am Wrong
              creditgerri Wayfarer

              Score ranges vary for business credit scores. You are correct that D&B's is 0-100 and over 80 is an excellent score.  You are also correct that paying before the due date on accounts that appear on your D&B report can earn you a higher score. Experian's Intelliscore also ranges from 0-100 but the FICO SBSS score (FICO's small business score) ranges from 0-300, and the higher the score the lower the risk to the lender. (Here is a detailed article that goes into business credit score factors and ranges.)

               

              Whether you're talking personal or business credit scores, a credit score can't be created if there is no information about how the individual or business has handled credit in the past. To build business credit, you need accounts that report to business credit agencies, just as with personal credit you need accounts that appear on your personal credit reports.

                • Re: Correct Me If I Am Wrong
                  robloman1 Wayfarer

                  Thanks, I could write these all day long, I get so tired of watching and hearing about people getting ripped off by people claiming to know how to build business credit and especially the one's trying to sell them business trade lines that I just built a website to offer some free help.

                  Check out my blog on my website, More post to come.

                  Blog

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                • Re: Correct Me If I Am Wrong
                  directconect Adventurer

                  This is a great question and I think you have it correct in the first place. I love what your doing with your websites. Helping people build business credit free goes a long way with me. Keep up the great job