Would a duns number help my business get credit?

Question

I'm trying to establish my business would getting a duns number help me with getting credit for the business without me using my personal credit.

Answer 1

Presuming you are speaking of Dunn and Bradstreet the answer is yes.

In the beginning however credit by the banks will be based on your personal busines.

As your business establishes itself, over time, then it will be based upon the businesses credit.

Initally, though, it will be based on your credit.  Also, though based on your credit, the cards or loans issued will not be on the consumer credit bureaus, but on Dunn and Bradstreet.

Answer 2

A true business credit card is a line of credit that is taken in the name of the business, under the business' credit. Activity, whether good or bad, is reflected on your business' credit report through D&B and other financial institutions, and the liability for any debts incurred and bills owed is with the business.However, some companies out there offer "business" credit cards which they require a person guarantee for. These institutions will often ask for a personal guarantee, and will almost always ask for a social security number from the person applying for the card. If this is the case, the credit card is not a business credit card, but is simply a personal credit card which is used for the business. The business is not liable for bills and debts - you are.When applying for a credit card for your business, watch out for areas asking for your SSN (and not your TaxID or EIN) and be wary of any credit card that asks for a personal guarantee. By ensuring that your credit card is in the name of your business, you can help to build your business' credit, while avoiding creating problems with your own.

Many companies offer a list of credit cards that are issued under the business name only. Those lists typically run $300-$900, depending on the quality of the information inquiring. I would suggest starting your search online via google or yahoo. Search for "strong business credit" (just like that in quotes) to find services that sell the information.

Good luck,

Ilya Bodner

Small Business

Owner Initial Underwriting Group