Published By Janet Gershen-Siegel at January 18, 2018
Your best option as a small business owner is to keep on top of your company credit reports from PAYDEX, Equifax, and Experian. Let’s break down specifics.
There are three big credit reporting agencies for small business and you absolutely should check all three of them on a regular basis as they use marginally different measurements therefore moving the needle for one can move the needle for both of the others, although perhaps not as much. Do not let your business credit scores slide, as you should catch any mistakes fast as you can, and catch anything which is dragging your scores downward then afterwards take remedial measures. You can acquire your reports conveniently and stay right on top of all three scores by following a few easy steps.
Dun & Bradstreet’s PAYDEX score of your small business can wind up being among the major reasons that your company receives credit in any way. D & B furnishes Credit Signal, which is a way to keep an eye on your credit score by having the reports come directly to you, for a fee. You may discover the charge is well worth it in order to avoid the bothers that can stem from letting this score slip, and to not need to produce and stay on top of the organizing and reminders you might need to stay up to date with if you do not utilize it.
Don’t want to make use of Credit Signal? Not a problem, as you can get your PAYDEX report via D & B and, if needed, you can speak to their Customer Service department (this department exists as a part of Dun & Bradstreet itself). In addition, in order to review your PAYDEX report, check out what D & B provides, which is a specimen report and also some higher level advice in how you can decipher it.
Experian, another big credit reporting agency, also offers a way for obtaining reports sent to you for a cost. Therefore you can keep track of your Experian small business credit score here and the setup is easy. However, if you would rather not get continuing reports (and purchase them), then you can order a single Experian report for your business on their web site. Also, if there are any problems or errors, you can challenge any problems on your small business’s Experian report if you follow the instructions on their web site. Learn about assessing your Experian report by checking a sample Experian small business credit report.
Equifax, one of the large credit reporting bureaus, offers a risk monitoring service which is easier as it permits reports to go straight to you. If you don’t wish to shell out money for continuing reports, you can instead request your small business’s Equifax report. On top of that, if you have to dispute your company’s Equifax report, you can do so by adhering to the directions on their site. You can learn how to read through your Equifax report by taking a look at a sample of their reports.
In some cases, it pays to hand over a few bucks in order to make certain you obtain your small business credit reports routinely. It’s a lot more convenient than to have to always remember to do this and you’ll probably consider these reports more carefully, as they come with a price. Continue target and utilize the tools that these credit reporting bureaus offer, and make your life less complicated. Because it’s obvious; you’ve already got enough on your plate.
A result of the recent data breach, there are all the more reasons to evaluate your small business credit reports and your personal credit reports, and be vigilant about any errors you catch.