How to check a business credit rating

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How to check a business credit rating

Published By Janet Gershen-Siegel at December 5, 2017

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Your best option as a small business owner is to remain on top of your business credit reports from PAYDEX, Equifax, and Experian. There are three big credit reporting agencies for businesses and you really ought to check all three of them frequently as they use slightly different touchstones so moving the needle for one can move the needle for the two others, though maybe not as much. Do not permit your small business credit scores to slide, as you have to pounce on any errors soon as you can, and determine anything which is dragging your scores downward and afterwards take corrective action. You can get your reports conveniently and stay right on top of all three scores by following a few straightforward steps.

PAYDEX

Dun & Bradstreet’s PAYDEX score of your small business can end up as one of the principal reasons why your company obtains credit in any way. D & B furnishes Credit Signal, which is a means to keep track of your credit score by having the reports come straight to you, for a price. You may discover the price is well worth it to avoid the inconveniences that can spring from letting this score slip, and to not need to develop and handle the organizing and reminders you might need to keep track of if you don’t utilize it.

Don’t want to utilize Credit Signal? It’s no problem, as you can acquire your PAYDEX report via D & B and, if needed, you can check with their Customer Service department (this department exists as a section of Dun & Bradstreet itself). Furthermore, in order to review your PAYDEX report, check out what D & B provides, which is a sample report and even some higher level guidelines in the best way to analyze it.

Equifax

Equifax, one of the big credit reporting firms, supplies a risk monitoring service which is more convenient as it enables reports to come directly to you. If you don’t want to purchase ongoing reports, you can instead order your small business’s Equifax report. Also, if you need to contest your business’s Equifax report, you can do so by adhering to the instructions on their web site. You can learn how to check your Equifax report by browsing through a specimen of their reports.

Experian

Experian, another big credit reporting agency, also provides a method for receiving business credit reports sent to you for a fee. For this reason you can keep track of your Experian small business credit score and the setup is simple. On the other hand, if you would rather not get regular reports (and purchase them), then you can order a distinct Experian report for your firm on their site. Likewise, if there are any complications or errors, you can contest any mistakes on your company’s Experian report if you follow the instructions on their website. Learn about assessing your Experian report by examining a sampling Experian business credit report.

In some cases, it is a good idea to hand over a few dollars to be sure you obtain your business credit reports regularly. It’s a lot more convenient than have to always remember to do this and you’ll probably evaluate these reports more thoroughly, as they come at a price tag. Keep on target and utilize the tools these credit reporting agencies provide, and make your life less complicated. It goes without saying, you’ve already got enough on your plate.

Due to the recent data breach, there are all the more reasons to review your company and consumer credit reports, and be vigilant about any mistakes you catch.

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