How to open a business credit file with Experian

Experian 01 1096x480 - How to open a business credit file with Experian

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How to open a business credit file with Experian

Published By Janet Gershen-Siegel at February 16, 2018

Experian 01 1096x480 - How to open a business credit file with Experian>

Do you need to know how to open a business credit file with Experian? One of the big three credit reporting agencies (the other two are Equifax and Dun & Bradstreet’s PAYDEX), Experian keeps business credit profiles on 99.9% of all United States firms. It boasts the credit industry’s most all-encompassing data on small and midsize firms. The honest truth is; your small business is probably already listed on Experian.

According to Experian, all of the data in any given Experian business credit file springs from third party sourcing. Accordingly, you cannot add any facts to your business credit profile However; you can still go over your profile and needless to say notify Experian with regards to any inaccuracies.

Business owner profile

In addition, for a smaller in size firm, Experian will include a business owner profile to prove the relationships between you, the individual, and your small business. Experian’s Business Owner Link is used to automatically connect the credit history of over 5 million business owners to your business credit history. This makes it easier for your creditors to get access to a Business Owner Profile on small business accounts. It also makes it simpler for your creditors to determine your overall creditworthiness.

Experian products

Experian sells a number of products which can be used so as to keep track of your business’s credit.

  • Business Credit Advantage Plan– this one is presently $149 monthly and features mobile-friendly alerts and score improvement suggestions.
  • Profile Plus Report– this report is currently priced at $49.95 and it consists of in-depth financial payment information and predictive information on payment behavior.
  • Credit Score Report– this is the least costly of the reports, currently priced at $39.95. This standard report includes detailed company and credit information, and summary financial payment information.
  • Valuation Report– this report at present costs $99. It displays the worth of your firm and features Key Performance Indicators. It also shows your company’s fair market value.

Premium corporate profiles

Experian also furnishes (for a fee) premium corporate profiles. These enhanced profiles contain added information, including sales figures, size, contact details, products and operations, credit summary, any Uniform Commercial Code (UCC) filings, fictitious business names, plus payment and collections history. Apart from the data provided in their standard low-risk corporate profiles, these premium profiles have information on credit inquiries completed in the most recent nine months, UCC particulars, as well as Standard & Poor’s financial information.

Credit Alerts

Obviously, you can subscribe to business credit alerts. Experian’s Business Credit Advantage program can work as a self-monitoring service. You get limitless access to your company’s business credit report and score. You can use this tool for proactively managing your business credit. Alerts are sent for:

  • Company address changes
  • Updates in your business credit score
  • Credit inquiries on your business profile
  • Newly-opened credit tradelines
  • Any type of USS filings
  • Collection filings and
  • Any public record filings, like liens, bankruptcies, and judgments

Keep up with your Experian business credit profile and keep your credit reports accurate.

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