Personal And Business Credit Reports
Below you will see how to access your credit reports for personal and business.
What is a personal or business credit report?
The purpose of your credit report whether for personal or business are essentially the same. Vendors and banks look at your credit report(s) to see what the odds of you defaulting on any financing they give you. That’s about all that is similar between the two.
Scoring
Personal Credit
Your personal credit score is ranked by an always changing model called FICO (Fair Isaac Corporation). This ranges from a low score of 300 to a high score of 850. The chart shows the odds of defaulting on loans. If there is inaccurate information being reported on your personal credit it could really hurt your odds of approvals for simple things like a car loan with the best interest rates as an example, or declining you completely. 1 in 5 consumers have in accurate information reporting. That’s a lot. Your high school graduating class of 200ish roughly 40 of them have information that is not even their’s reporting on their credit report. So it’s important to monitor your credit often. Click on the link below to check and see if you have anything reporting that shouldn’t be on there. This cost’s $1 to check or you can click the link below that link to pay $39.99 to get your report. (We recommend you only pay $1)
Business Credit
When it comes to business credit the scoring is ranked from 0-100 and depending on the credit reporting agency they call the scores; Paydex, Index or Intelliscore. There are 10 bureaus that report on the credibilty of a business. However 90% of the time only one bureau is checked; Dun and Bradstreet. Other than that there are Experian and Equifax business credit reporting besides just personal reporting. You don’t get a score unless you have a profile with at least Dun and Bradstreet but that doesn’t give you an automatic score. You need to have vendors report (like 4-5) payments for a couple months then you will get a score!
The 3 Major Business Credit Reporting Agencies
Dun and Bradstreet uses a scoring system called Paydex.
Experian uses a scoring system called Credit Ranking Intelliscore
Equifax uses a scoring system called Business Payment Index
How to check your credit reports
There a several ways to monitor both your personal and business credit. We are going to list a few below and you just need to click on them to sign up. Some range from free to $50. We recommend you sign up for all the free ones…why not right?
Personal and Business Credit Monitoring
Contact us
- Business Hours
Monday – Friday:
10AM to 6PM, MST Toll Free: (833) - (833) 476-9658
support@corporatefundinggroup.com
Suite 200
Lehi, UT 84043