My Business Credit Journey to 1,000,000

This is the first series of “The Game is Changing”, and I will cover a few aspects such as , DnB, CPN’s and necessary credit scores.

It is no secret that we are in a credit crunch and this is one of the reasons that the game in changing. In the passed credit was given relatively easily and we took it for granted and abused it. This is what bring us to this situation now.

DnB is changing and becoming more ruthless with their tactics. I do not think that their changes are a direct result of the credit crunch. What I do believe is that more people are getting wise to the procedures and they simply want to make more money.

The Bad News.

Myself, along with other knowledgeable  credit advisers have been pretty adamant about not paying the devil(DnB) his dues, but they are stopping at nothing to force us to pay. This is where we are right now. I have seen from experience that without the credit builder from Dnb, and purchasing from 4-5 vendors that report to DnB, it takes an average of 2.3 months to get an 80 Paydex score. This is not because these companies are not reporting, but DnB takes there sweet time to record the activity once you do not pay. What I have noticed that shortens the time to an 80 paydex is to purchase from more than 5 vendors. I have started with one company and purchased from 9 vendors that all report and I got my paydex score in 34 days. I do not know if they simply leave out some and take longer on others, but it worked. And after about 3 months, all 9 vendors was on my credit file.

I also did the same thing with a Biz 5 and I paid for the credit builder that costs $799(I know. I waste money but this is for my readers). I got my paydex score in between 5 and 6 weeks. This was much less time than the 3 months but the lame thing is, you still have to purchase from 4-5 vendors. If you have the extra cash and you really want a paydex, I still do not recommend it..lol….but it does save some time.

- mike