22. Ask Suppliers To Report To The Bureaus

Establishing business credit is different from establishing personal credit. Besides any accounts, you open for your business, having suppliers report your on-time payments is another big factor in building your business credit. However, not all suppliers will report your payments to Experian and Dun & Bradstreet. In these cases, it is worth contacting the supplier and asking them to report your payment history to these entities.

Request that suppliers report your payments to Dun & Bradstreet and Experian

If you check dunb.com’s PAYDEX information, they outline the most important components of business credit scores. Paying early is the most important. It can’t be emphasized enough how much attention needs to be made to paying earlier where paying 30 days or sooner is best, depending on the supplier’s terms.

Also, be sure that any vendor or supplier you deal with will report your payments to business credit bureaus. If you are making on-time payments to a vendor or supplier who isn’t reporting your payments, you aren’t helping build your business credit history. There might be some suppliers who you absolutely need to work with but who do not report to credit bureaus. They may not even know about them. Simply asking if they are willing to do this might be all you need to get them to report. It certainly won’t hurt to ask.