Boost Your Business Credit with a High Paydex Score: Quick and Easy Strategies

Understanding Your Payex Score: A Guide for Business Owners

What is a Payex Score?

- A Payex score is a rating that ranges from 0 to 100. - A score of 80 to 100 indicates that you pay your bills on time or even sooner than the due date. - If you pay your bills later than the due date, your Payex score will drop from 79 down to 0. - It's essential to pay your bills on time to maintain a high Payex score.

Generating a Payex Score

- You can generate a Payex score by working with 4 or 5 vendors and requesting supplies or services without having the full payment upfront. - These vendors will then report your payment history to Dun & Bradstreet, a data collection company that determines your Payex score. - Your Payex score is focused on trade credit or vendor credit, not on capital funding.

Key Takeaways:

- A high Payex score (80-100) shows that you pay your bills on time or early. - Your Payex score is generated through vendor credit reporting to Dun & Bradstreet. - Payex score is mainly focused on your ability to get credit for supplies, not capital funding.

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