A score of 76 is generally regarded as good when it comes to company credit scores. Scores for business credit range from 0 to 100; higher scores denote more creditworthiness. Having a score of 76 places a company in the “low risk” category, making it more likely that they will be granted credit and loans because they are seen as trustworthy borrowers.
It’s crucial to keep in mind, too, that various credit bureaus may use somewhat different scoring formulas and give various aspects different weights. For instance, the PAYDEX score from Dun & Bradstreet, which goes from 0 to 100, prioritizes payment history when assessing a company’s score. The duration of the credit history, credit use, and any negative marks, such as missed payments or bankruptcies, may also have an effect on a company’s credit score.
Alibaba does indeed submit reports to Dun & Bradstreet, which is a related question. Dun & Bradstreet uses Alibaba as one of its trade references to gather information for its business credit reports. Trade references are businesses that a company has previously worked with and can attest for their creditworthiness.
A business should get a DUNS number in order to establish business credit. A Dun & Bradstreet-assigned unique number (DUNS) is used to track a company’s credit history. Even though it is feasible to establish credit without a DUNS number, having one can speed up and improve the process.
Making frequent on-time payments is one approach for a company to raise its PAYDEX rating and work toward a score of 100. In order to receive an 80 or a 100, Dun & Bradstreet advises settling invoices within 30 days and within 15 days, respectively. Additionally, it’s critical to periodically review and track credit reports for any mistakes or inaccuracies that can have a bad effect on a company’s credit score.
Finally, the answer to the question of whether NAV performs a forceful pull is yes. Businesses can obtain credit reports and scores from many bureaus through NAV, formerly known as Navient. A hard inquiry may be made on a company’s credit report when they sign up for NAV’s services, temporarily lowering their score. However, any brief drops in score greatly exceed the advantages of maintaining and raising a company’s credit score.