How to Check My Business Credit Score?

  • Posted on: 21 Dec 2022

  • In today's world, it is more important than ever to have a strong business credit score. A weak credit score can hurt your business in many ways, from making it harder to get loans to cause you to pay more for insurance or services. Luckily, checking your business credit score is easy. In this, we'll walk you through how to check your business credit score and what to do if you find that your score could use some improvement.

    How Do Business Credit Scores Work?

    Did you know that you have a business credit score? No, not your personal credit score, but a business credit score. Just like with your personal credit score, your business credit score is used to determine how likely you are to repay the money that you borrow. Lenders use your business credit score to decide whether or not to extend your credit, and what interest rate to charge you if they do.

    Where Can I Check My Business Credit Score?

    There are a few different ways that you can check your business credit score. This is important to do on a regular basis, as your score can have a big impact on your ability to get loans, lines of credit, and other financings.

    Here are some options for where you can check your business credit score:

    • - This website allows you to request your free annual credit report from the three major credit bureaus (Experian, Equifax, and TransUnion). You can request all three reports at once, or stagger them throughout the year so that you always have an up-to-date report.
    • Credit Repair Ease – This website offers you a free business credit score and also suggests improvement in your business credit report.

    Pro Tip: Check Your Credit Score

    Reasons to Check Your Business Credit Score

    Your business credit score is one of the most important factors that lenders consider when determining whether or not to extend credit. A good credit score can lead to better terms and lower interest rates, while a poor score could result in your business being denied credit altogether. Here are four reasons why you should regularly check your business credit score:

    1) To prevent errors and inaccuracies. Mistakes happen, but you don't want them on your record. Checking your score gives you the chance to catch any errors so you can dispute them and clear up your history.

    2) To track your progress. By regularly checking your score, you can see how well you're managing your credit and identify any areas where you need to improve.

    How to Establish and Build Business Credit?

    If you're a business owner, then you know that credit is important. A good credit score can help you get loans, lines of credit, and another financing at favorable terms. Establishing and building your business credit can be daunting, but it's worth the effort. Here are some tips to help you get started.

    First, make sure that you have a solid foundation for your business. This includes having a great product or service, a well-defined target market, and a sound business plan. Next, start building your business credit file by applying for trade lines with suppliers and vendors. These accounts will show up on your business credit report and will help to establish your credit history. Continue to make timely payments on these accounts, and keep track of your credit score.

    Pro Tip: Improve Your Credit Score

    Keep Your Business Credit Score Healthy

    Maintaining a healthy business credit score is important for a number of reasons. A high score means you qualify for better interest rates and terms when you borrow money, which can save your business money in the long run. Additionally, a strong credit history also makes it easier to secure funding in the future if your company experiences growth. By following some simple steps, you can keep your business credit score in good shape and improve your chances of getting approved for loans when you need them.

    Call on (888) 803-7889 & Check your business credit score now!