Can You Look At A Business Credit Report Online?

Consumer credit profiles are very complicated to understand, but they are equally important to maintaining and tracking your business credit score. But if you are a business owner or starting to establish one, you’ll get an additional layer of similar information added for you to understand. 

So if you are one of those who think credit scores only keep track of an individual’s credit history, this would come as a surprise for you that the businesses also receive these important numbers to yield maximum benefits when they apply for loans.

A business credit report profile serves the same purpose as personal credit profiles do. They help you apply for business credit cards with the best APRs. Your business also starts working with the vendors and suppliers that report credit scores to credit reporting agencies – Equifax, Experian, etc. 

The supplier and vendor company then explores your creditworthiness using your business credit score so that they can easily determine whether your business is eligible for loan approval or not. If yes, what APR and interest rates to assign, and how long the loan term will last.

Credit reports allow your creditors, investors, vendors, suppliers, and all the possible business partners to see how good or bad your business is at managing its finances. However, the business credit reports are not entitled to free access legally. But in contrast, the personal credit reports are free of cost.

The Fair Credit Reporting Act – FCRA allows you to access free of charge personal credit reports from the major credit bureaus – TransUnion, Equifax, and Experian, every year once. However, FCRA hasn’t established any free entitlement to access your business credit score information. 

Since there is no free access to business credit reports online, it is very difficult for you to track your business standing on the credit report as a business owner. A higher business credit score brings the same benefits as an excellent personal credit score. 

With an excellent business credit profile, you will be able to secure the best possible APR and interest rates and term period for your business credit cards and loans. The difference between personal and business credit profiles comes when we look at the range of the two credit scores. 

The business credit scores generally range from 01 to 100, whereas the personal credit score usually falls between 300 and 850. Anything from 800 and above in personal credit score is considered an excellent score. 

Even though you don’t have any free-of-cost access to all your business credit reports, some online companies provide fragmentary business credits information without any charges. They can also run a one-time pull on your complete business credit reports. BY mixing and matching the services of these free credit score monitoring services, you can get an idea of your business credit score and where they are standing. 

We will talk about what the free monitoring services are a little while later. But first, let’s get into how you can check your business credit score online, the paid services.

Ways You Can Check Your Business Credit Information

Checking your business credit score information isn’t free or cheap, but it is very important to build one for your business creditworthiness. Having said that, we will discuss two of a few paid options that you can look into if you are curious to know ‘How you can check your business credit report?’ and determined to build your business credit score. 

The paid services will provide you with a more structured credit report with additional credit information and features added to your reports depending on your paid package. 

Unlike the many third-party organizations that provide you free access to your business credit report online with limited or selected pieces of information, they all have a guarantee of providing you with your business credit score. 

According to our suggestion, it is better that you explore the paid options and their packages available online to get your hands on your business score profile. These paid reports will give a broader perspective to your business credit report with all the extra information.  

So without any further delay, let’s explore what two main paid options you have currently. 

– Experian

Experian is a good provider of business credit reports with different packages. You can look at your business credit score or monitor your business credit profile against a fee that depends on the package you choose. 

CreditScore Report a one-time charge plan or package will cost you $39.95. The plan is best for people who want to look at their business credit score but have no plans of monitoring the score.

A comprehensive plan will cost you about $49.95 each month. It will provide a lot more than just your credit score but also includes a monitoring plan with information like the credit inquiries and tradeline data in detail. 

Or you can also choose an annual plan. The annual plan provides you unlimited access to your business credit score, in-process tracking, credit alerts, etc. You can also purchase a more detailed report by adding $189 to your annual plan. 

– Equifax

Equifax’s reporting system is a bit different from others, but they come at a price. Instead of packages, they offer an order system where you can order your business credit report for $99.95 for the one-time report. 

You can also order 5 business credit reports for $399.95. Yes, your calculation is correct. The 5 business credit score reports order comes at a discounted price. 

By this time, you must be thinking Equifax reports are a lot more expensive than Experian reports, but the answer is no. They aren’t as expensive as they look because these reports are packed with every possible piece of information and are more comprehensive. 

The Equifax business credit score reports include your Equifax’s business risk scores, business profile, public details, a summary of credit, alternate business names, and much more. These reports also come with a unique feature of Business Failure Score. 

The feature tries to predict the likelihood of the business that can fail via bankruptcy, formal or informal, for the coming fiscal year.

What Free Options Do You Have To Check Your Business Credit Score?

Free business credit reports online are really good if you want a sneak peek of your business credit score. The free services are a good way to access credit tracking tools important for building your business credit score. 

However, these free credit reports of your business aren’t as comprehensive as the paid ones are. They don’t report many things the paid ones do, hence are considered lighter than the paid ones.  

But these free business credit reports online can act as a springboard for you to help you build a healthy business credit profile. 

Since we aren’t getting into many details of which company offers what for free, here is a brief list of companies you can go to get your business credit report; 

• Dun & Bradstreet CreditSignal

• Tillful

• Nav

• Creditsafe

Conclusion 

In a nutshell, we can say that you won’t get easy access to your credit report online for free. But suppose you still wish to get it for free. In that case, we recommend that you use multiple free services available online to picture your business creditworthiness and the health of your business credit scores better.

Otherwise, you can get the paid ones for a more detailed and comprehensive credit report online. They provide you with even more substantial business credit reports and monitoring features. 

This investment will be worth every penny you spend because you can build your business credit profile better. The investors, suppliers, vendors, and creditors will be able to make their decision wisely while evaluating your loan and credit requests.