To check your business credit score and read your credit report, follow these steps:
Determine which business credit reporting agency you want to use. There are three major agencies that provide business credit reports: Dun & Bradstreet, Experian, and Equifax. Each agency has its own scoring system and method for generating reports.
Request your credit report from the agency of your choice. You can do this online or by phone. You will need to provide your business name, address, and tax ID number. There may be a fee for this service.
Review your credit report for accuracy. Make sure all the information is correct, including your business name, address, and phone number. Look for any errors or inaccuracies, such as accounts that do not belong to you, incorrect payment history, or outdated information.
Check your business credit score. Each agency uses a different scoring system, but all scores typically range from 0 to 100. A score of 80 or higher is considered good. If your score is lower than you expected, review your report to identify any areas where you can improve.
Address any errors or discrepancies. If you find any errors or discrepancies on your credit report, you should contact the credit reporting agency to dispute the information. This may involve providing documentation to support your claim.
Improve your credit score. If your score is lower than you would like, there are steps you can take to improve it. This may include paying bills on time, reducing your debt-to-credit ratio, and establishing a positive credit history.
Monitor your credit regularly. Once you have reviewed your credit report and taken steps to improve your credit score, it is important to monitor your credit regularly to ensure that your score remains high and that there are no new errors or discrepancies. You can request a new credit report from each agency once per year, or sign up for a credit monitoring service that will alert you to any changes in your credit report.