Step 14. Experian Business Credit Report

Creating a strong foundation of business credit scores starts with understanding your current status. 

Check Your Current Score with Experian Business

 

You will start by checking Experian Business to make sure your file is already open.

Experian Business: Check Your Status

Experian Smart Business Reports has a system that lets you see if your company currently has a business credit file with their agency. You can make updates to your company profile and ensure there are no inaccuracies throughout the entire profile.

 

Conducting a search for your business is easy. Simply enter the legal name of your business and the city/state where you operate. If your business is found in their database, you will see the following information:

 

Tradelines: This is the amount of reported credit accounts currently sharing information with Experian on your business. This list is made of individual vendors, credit card companies, banks, and even leasing companies, giving your business a comprehensive list of credit lines.

 

Business Credit Score: To start your credit file, Experian uses public records. When you incorporate or form your LLC, Experian will gather this information from the Secretary of State records and create your file. They will start by giving your business a score, using the Intelliscore formula. When trade begins, you will start seeing reported information from lenders, banks, suppliers, and more.

 

Recent Inquiries: This shows whether outside parties have inquired into your credit score with Experian Business. If there has been a recent inquiry, you will see a “Yes.” In this case, you’ll want to order your Experian Business report and review if for accurate facts.

 

You can review a full report by purchasing the information from Experian Business. Ordering your report will NOT create an official “inquiry.”

If your business does not yet have a file on hand, use the following steps to open one.

Click here to see a sample of Experian Business Credit report.



  • To Do 1 – Company Search

    As one of the most affordable and easy-to-access profiles, Experian Smart Business is an important tool for building business credit. Always monitor the reports for consistent results.
    Start your search using SmartBusinessReports.com and order  your ExperianBusiness Report.

    First of all, if your business is NOT listed wit Experian Business, use Smart Business Reports® to make sure your company gets listed as soon as possible. You will be able to see when your company will get listed and how many tradelines will report.

    What to Do When You Find Your Business Listing…
    If you discover that your company is listed with Experian Business, you can now order your report as described in 3.1. When you do find your listing, it will be smart to purchase the Business Credit Advantage Plan, which allows you to monitor your profile whenever you want and get unlimited access to your business credit score. You will also get email notifications for any changes to your profile. If you find your profile but discover inaccuracies, use SmartBusinessReports.com to make corrections as soon as possible. (At the bottom of the page, you’ll find a link that allows you to update the business profile. See http://awesomescreenshot.com/0416cy06c1)

    What to Do When You Can’t Find Your Business Listing…
    If you can’t find your listing, it’s likely that you do not have one yet. This is because no one is reporting to Experian Business on your business payment history. Fortunately, your Experian Business profile will be created when you have credit reports from your very first payment. Access to these national accounts will cause your Experian profile to open with the first reported cycle, which is about 30 days. This is an important resource for building business credit, largely because it receives most reports from banks, leasing companies, credit card accounts, and vendors. This gives a higher respectability to the Experian Business score.



  • To Do 2 – Monitor Your Business Credit

    Monitor your Experian Business file and enroll in Business Credit Advantage for greater benefits.

    To start monitoring your Experian Business file CLICK HERE

    1. If your company been denied credit due to a business credit report by Experian in the past 60 days you can request a complimentary copy of your business credit report from Experian. Submit your request to Experian in writing on your company’s letter head. To download the submission form – CLICK HERE

    2. Fill out the request form and email it here:
    customerservice@equifaxsmallbusiness.com

    3. If you see any inaccurate information on your Experian Business Credit Report you can find out more on how to dispute it by clicking here.

     

     

To Do List To Complete In This Step

1. Order your Experian Business Credit report.

2. Verify that all the information is accurate and up to date.

Experian Business
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