How to check business credit

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How to check business credit

Published By Janet Gershen-Siegel at December 24, 2017

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Your best option as a business owner is to stay on top of your business credit reports from PAYDEX, Equifax, and Experian. There are three big credit reporting agencies for businesses and you absolutely need to assess all three of them routinely as they use slightly different measurements consequently moving the needle for one can move the needle for both of the others, although maybe not as much. Do not permit your business credit scores slide, as you have to catch any mistakes as soon as you can, as well as pinpoint anything which is pulling your scores downward and afterwards take corrective steps. You can get your reports easily and stay right on top of all three scores by following a few uncomplicated steps.

PAYDEX

Dun & Bradstreet’s PAYDEX score of your company can wind up as one of the main reasons that your business obtains credit in any way. D & B furnishes Credit Signal, which is a method to keep track of your credit score by having the reports come straight to you, for a cost. You may find the fee is well worth it in order to avoid the worries that can spring from letting this score slip, and to not have to produce and manage the organizing and reminders you might need to keep up with if you do not use it.

Don’t wish to make use of Credit Signal? Not to worry, as you can receive your PAYDEX report through D & B and, if needed, you can consult with their Customer Service department (this department exists as a part of Dun & Bradstreet itself). Furthermore, in order to review your PAYDEX report, check out what D & B provides, which is a specimen report and even some higher level guidance in the best way to analyze it.

Equifax

Equifax, one of the large credit reporting firms, supplies a risk monitoring service which is more convenient as it permits reports to come straight to you. If you don’t wish to shell out money for ongoing reports, you can alternatively order your company’s Equifax report. In addition, if you have to question your company’s Equifax report, you can do so by adhering to the guidelines on their website. You can learn how to evaluate your Equifax report by checking out a specimen of their reports.

Experian

Experian, one more big credit reporting firm, also provides a method for obtaining reports sent to you for a charge. Therefore you can oversee your Experian small business credit score and the setup is easy. Having said that, if you would rather not get regular reports (and purchase them), then you can order a separate Experian report for your business on their web site. Additionally, if there are any troubles or errors, you can challenge any mistakes on your business’s Experian report if you follow the directions on their site. Learn about reading through your Experian report by checking a sample Experian small business credit report.

In many instances, it is a good idea to hand over a few bucks to be sure you receive your business credit reports routinely. It’s a lot more convenient than have to remember to do this and you’ll probably evaluate your commercial credit reports more carefully, as they come at a price tag. Stay on target and use the resources these credit reporting companies offer, and make your life easier. After all, you’ve already got enough on your plate.

Because of the recent data breach, there are all the more reasons to assess your company credit reports and personal credit reports, and be vigilant about any issues you locate.

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