How to Start a Business Credit History with Experian

How to Start a Business Credit History with Experian Credit Suite-Decoding the Experian Intelliscore Business Credit Score

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How to Start a Business Credit History with Experian

Published By Janet Gershen-Siegel at June 15, 2018

How to Start a Business Credit History with Experian Credit Suite-Decoding the Experian Intelliscore Business Credit Score>

Your Business Credit History with Experian Can Open Doors

Start a business credit history with Experian and build business credit.

Written by Janet Gershen-Siegel

We can help you to start a business credit history with Experian. Also, we can show you how to do it yourself.

Experian Background

Experian is one of the big three credit reporting agencies. The others are Equifax and Dun & Bradstreet’s PAYDEX. Experian has business credit profiles on 99.9% of all American firms. It has the industry’s most exhaustive data on small and midsize companies.

Your business most likely already has a business credit history with Experian. This is especially true if you have (a) a DUNS number and (b) at least four or five credit lines which are reporting to at least one of the business credit reporting agencies.

All data is from third party sourcing. Hence you cannot manually add to a business credit profile. However you can still check one. Also, you can obviously advise Experian on any errors.

Experian Business owner profile

Furthermore, for a smaller firm, Experian adds a business owner profile. It shows relationships between owner and business. Experian’s Business Owner Link keeps the credit history of over five million business owners.

Creditors can check a Business Owner Profile on small business accounts. It also makes it easier for creditors to gauge overall creditworthiness.

Check out this short video about Experian for a quick look at the highlights.

Experian Products

Experian sells several products to help business owners manage their business credit.

  • Business Credit Advantage Plan– $149/month. Mobile-friendly alerts. Also has score improvement ideas.
  • Profile Plus Report– $49.95. Detailed financial payment details. Also, has predictive data on payment behavior.
  • Credit Score Report– $39.95. Detailed company and credit data. Also, has summary financial payment data.
  • Valuation Report– $99. Market value of a company. Key Performance Indicators. It also shows a business’s fair market value.

Experian Premium Corporate Profiles

Experian also has (for a fee) premium corporate profiles. They have added data. It is data such as sales figures, size, and contact details. There are also products and operations. It also includes a credit summary, UCC (Uniform Commercial Code) filings, and fictitious business names.

Also, it includes payment and collections history.

There is more data here than in standard low-risk corporate profiles. Experian’s premium profiles also have data on credit inquiries from the last nine months. They also have UCC specifics. They also have Standard & Poor’s financial details. Hence they may be worth the cost, in particular if your business has UCC liens.

Experian Credit Alerts

As you might expect, you can register for business credit alerts. The Experian Business Credit Advantage program is a kind of self-monitoring service. So you can get limitless access to a business credit report and score. This can help you to keep on top of changes. It also alert you to issues before they become big. Also, this helps you manage company credit.

Credit Alert Specifics

Alerts go out for:

  • Company address changes.
  • Updates in a business credit score
  • Credit inquiries on a business profile.
  • New trade lines
  • All USS filings.
  • Collection filings and
  • Any public record filings such as liens, bankruptcies, and judgments.

Takeaways

Stay on top of your business credit history with Experian and with all of the other business credit reporting agencies. Keep your credit reports accurate. All of these are a big part of building business credit quickly. Managing your Experian file will help make that process more efficient and it will also minimize frustrations. If it is managed well, your business credit history with Experian can help you improve your business credit.

Discover this new way to monitor your business credit scores.

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