How To Check Your Business Credit Score | Free And Paid Options

Your business credit score is a significant indicator of your company’s financial health. It can affect your ability to get loans, lines of credit, and other types of business financing. It’s important to know what your business credit score is and understand how it works.

This blog post will discuss how to check your business credit score for free and paid options. We’ll also tell you what to do if you find that your score needs improvement.

What Are The Best Options For How To Check Your Business Credit Score?

Business credit scores are important for a number of reasons. They are a key monitoring factor when building business credit. They can affect your ability to get loans, insurance, and even good prices from vendors. That’s why it’s so important to keep an eye on your business credit score and make sure that it’s accurate.

Dun & Bradstreet, Experian, and Equifax are all major providers of business credit scores and are the best options when it comes to knowing where your business credit stands. When you’re looking at your business credit score, it’s important to make sure that you’re looking at the most commonly used ones.

Dun & Bradstreet, Experian, and Equifax Business all use different scoring models, so a score from one provider may not be directly comparable to a score from another provider. However, all three providers use similar information to create their scores, so if your score is low on one platform, it’s likely to be low on the others as well.

Checking your business credit score is an important part of keeping your business on track. Dun & Bradstreet, Experian, and Equifax are all reputable providers with reliable scoring models. Whichever platform you choose, make sure that you’re monitoring your score regularly so that you can catch any errors or changes quickly.

Reasons You Need To Know How To Check Your Business Credit Score

Checking your credit scores and ratings for your business is key to knowing where your company stands with its business credit file. In order to accomplish certain goals of building a solid credit history for your business you have to know your current situation. There are serval reasons why monitoring your business credit reports and scores is crucial.

• Having good business credit is an essential tool for managing and growing your business. By knowing how to check your business credit, you can access important financial information that will help you make strategic decisions about your company’s future.

• In addition to giving you insights into the financial health of your business, having good business credit can also help you secure loans or other types of business financing in the future. This is especially important if your small business is still relatively new and may not have a strong track record when it comes to financial performance.

• Being able to monitor and manage your business credit also gives you more control over your overall finances, helping you avoid costly mistakes or missed opportunities along the way. For example, being aware of any negative issues or red flags on your report can give you time to take action and address them before they become bigger problems for your business.

• Another key reason why it’s important to know how to check your business credit is that it allows you to stay up-to-date on any changes or updates in the industry, such as new regulations or requirements from lenders and creditors. This knowledge can help keep you ahead of the curve when it comes to managing and growing your small business effectively.

• Ultimately, by keeping on top of your business credit, you can safeguard the financial well-being of your business over the long term and position yourself for success in today’s dynamic marketplace.

Given the many important reasons to credit monitoring a company’s credit, let’s look at how one can go about the steps of checking the score and report of each of the major business credit bureaus.

Step-By-Step Instructions For Checking Your Business Credit Score

To make this process as simple and useful as possible, we will look at the steps for checking the most popular business credit scores. I will provide a free option where possible, but to get the best possible credit information and credit score, a paid option is best. You choose which method is best for your score needs. The steps will be listed as follows:

• Step 1 – Get A Paydex Score And Credit Report From Dun & Bradstreet.
• Step 2 – Get An Experian Business Credit Report And Score.
• Step 3 – Get An Equifax Business Credit Report And Credit Score.

After you complete the steps to attain your business credit profile from each of the major business reporting agencies you will have the tools needed to monitor your business credit.

Step 1 – Get A Paydex Score And Credit Report From Dun & Bradstreet.

There are two options that Dun & Bradstreet offers to give businesses access to their company’s credit report and Paydex score which are sufficient.

They offer CreditSignal, which is a free service, and CreditSignal Plus, which is a paid service for $15.00/per month. Both will get the job done for finding out your business’s credit score. Here is a walkthrough of the steps for both options:

For The Free Option With CreditSignal

• 1.) Visit the Dun & Bradstreet website for CreditSignal.

• 2.) Enter your business name and address in the search box to find your Dun & Bradstreet business credit file.

• 3.) Find and select your company.
• 4.) Enter your business email to register a new account for CreditSignal.

• 5.) Complete your account registration and login to access the report.

*Note: If you do not find your business while conducting a search, it is possible that your business does not have a D-U-N-S Number associated with it. Therefore you would need to get a D-U-N-S Number for your company and then you can continue with the process of setting up an account with CreditSignal.

For The Paid Option With CreditSignal Plus

• 1.) Visit the Dun & Bradstreet website for CreditSignal Plus.

• 2.) Click the “Add to Cart $15/mo” button to begin.
• 3.) Enter your email to set up an account and pay for your subscription.

*Note: You can create a CreditSignal free account to begin, which will give you access to your Paydex score and credit information for 14 days, then afterward you can upgrade to the paid subscription to continue to view your scores and credit ratings. If you choose to do this, simply follow the above steps to set up your subscription.

Step 2 – Get An Experian Business Credit Report And Score.

Experian Business offers a paid option to get your business credit score. It is a one-time report to have access to your credit score and summary information on your company credit profile.

They have a few options for accessing this information, but for the purpose of just getting your business credit score, their product CreditScore Report at $39.95 per report is sufficient. Below is a walkthrough of the steps to purchase your report:

• 1.) Visit the website for Experian Business Credit Report.

• 2.) Click the button titled, “Get your business credit report or check another business” to get started.
• 3.) Enter your business name and address in the search box to find your Experian business credit profile.

• 4.) Select your company and “Proceed” or if you do not find your company you can select “Establish my business profile” to set up a new credit file with Experian Business.

• 5.) Select the “Buy Now” option for the one-time CreditScore Report at $39.95 per report.

*Note: Experian will notate the business profile if there are business tradelines reporting. Most likely if you have no tradelines reporting, then you will have no credit score generated with Experian. In any case, you can decide whether or not to order a CreditScore Report.

Step 3 – Get An Equifax Business Credit Report And Credit Score.

Equifax does offer a business credit report pull that can be ordered which comes with a business credit risk score and business failure score. This is a one-time credit report and has to be ordered directly by contacting the sales department of Equifax.

Generally, this one-time report is gonna cost around $99.99, but they do have offers to reduce that cost if ordering more quantity of reports. This is a simple straight forward process as follows:

• 1.) Visit the website for Equifax Business Credit Reports.

• 2.) Click the “Contact Us” button and fill in your name and business contact information, your request, and submit.

Bonus Alternative – Get A Free Account With NAV For Free Credit Scores.

NAV offers business owners who want to monitor and grow their business credit, an opportunity to start with a free NAV account. With NAV’s free account you get a summary of the major business credit bureaus, which includes Experian, Equifax Business, and Dun And Bradstreet.

NAV issues a credit grade (A-F) based on the reporting data, giving the owner an idea of where the business credit stands. Also included with the account are alerts for when something changes with the business credit.

If you are just trying to get an idea of where your business’s credit lies before diving deep into buying full business credit reports, NAV is a great resource to check into your business payment history and whether or not you have a good business credit score reporting.

If you want more than the free business credit report NAV offers, then a paid subscription with NAV will include a full detailed payment history and business credit scores with all three agencies. Visit the NAV website to get started with a free business credit monitoring account.

Key Considerations For Successfully Checking Your Business Credit Score

Checking your business credit scores periodically will allow business owners to stay on top of their business credit history and provide an opportunity to build business credit. Here are some key considerations when checking your business credit scores:

• Each credit agency has its unique scoring model, so a credit score or risk rating is going to be different across credit reporting agencies. It is essential to understand the different credit scoring models used by the major business credit bureaus and what factors are taken into account when assessing your business credit score.

• Identifying and addressing any discrepancies or inaccuracies in your business credit reports, as these can negatively impact your overall credit score.

• Being proactive about monitoring and maintaining your business credit profile, as can help you identify potential issues before they become larger problems down the line. Constant monitoring is key, don’t delay updating inconsistencies, because they can hinder credit and loan approvals.

• Utilizing tools and resources that can help you track your business credit score over time, such as online financial management platforms or business credit monitoring services.

• Seeking the guidance of a financial advisor or other trusted professional who can provide expert advice on how to improve and maintain a healthy business credit score over time. There are plenty of credit builder services that can guide your business to grow and improve its credit score. Insight from a professional can help to reveal undiscovered opportunities to help with meeting business credit goals.