• Home
  • Blog
  • A Dun & Bradstreet PAYDEX Score Tip
Credit Suite
August 25, 2016

Topics:

PAYDEX Score Tip Credit Suite

Get a PAYDEX Score Tip From Us

This is an important aspect of Dun & Bradstreet’s PAYDEX system. It is known as a PAYDEX weighted average score. So, it is at the heart of our PAYDEX score tip.

Dun & Bradstreet Business Credit ReportsPAYDEX Score Tip Credit Suite

For all small businesses, their Dun & Bradstreet business credit reports are the most vital of the reports to check. A good score can be the difference between getting funding. Or not. And it can also make a difference when it comes to the terms you will pay. Better business credit scores, of course, will mean better terms.

Your Equifax and Experian business credit reports are still important. Fortunately, working to raise one will help to raise the others. While their emphases may differ, they all have the same underlying concept behind them.

That is, if a business pays its financial obligations on time, then it is a good credit risk for future lenders. And if it can pay its bills early, then it is an even better risk for future lenders and credit providers. Future lenders and credit providers can depend on these reports.

In this instance, past performance is absolutely seen as being an indicator of future behaviors.

How to Build Credit For Your EIN That is Not Linked to Your SSN

Specifics on PAYDEX

This score gives more weight to any trade accounts that are reporting higher amounts of credit extended. And it gives less weight to the trade accounts that are reporting lower dollar amounts of credit.

https://creditsuite.wistia.com/medias/t5rjt70l2p?embedType=async&videoFoam=true&videoWidth=640

There Are Ways to Increase Your PAYDEX Credit Score Easily

If a business owner is having any trouble meeting all their credit payback obligations, they can still do something about their scores. In other words if they know they are going to have to pay a bill late, they need to triage their bills. As a result, it is important for that business to be sure to pay their largest dollar creditors first.

Those higher dollar accounts will carry more overall weight within the PAYDEX score.  So it is essential to pay the higher dollar accounts on time. This is to increase a PAYDEX credit score as much as possible.

How to Build Credit For Your EIN That is Not Linked to Your SSN

Takeaways

This quick tip can help make sure your PAYDEX score is as high as possible so you can get approvals for more business credit for your company. So always be sure to keep your Dun and Bradstreet credit report on your radar. And, in particular, work on your PAYDEX business credit score.

How to Build Credit For Your EIN That is Not Linked to Your SSN

Leave a Reply

Your email address will not be published.

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

Stay In The Loop

Subscribe to our weekly newsletter that delivers the most actionable, tactical, and timely business financing tips you actually want and need for Free
*Plus get instant access to the 3-part Fundability™ training - a systems that helps your business become more Fundable and makes you look great to credit issuers and lenders