How to check your business credit score
Editor's Note
It's pretty easy to stumble into — nay, hard to avoid — an advertisement from some company offering you free access to your personal credit score. These advertisements are everywhere. Plus, the federal government has mandated that you can get a free credit report from each of the three consumer credit bureaus once a year via annualcreditreport.com.
However, when it comes to business credit reports and scores, be prepared to fork out some cash. There are some free services available, but they won't necessarily give you the full picture.
You should check your business credit report for the same reasons you check your personal one: to find and fix errors (they do happen), to look for evidence of fraud and to keep an eye on what might be dragging down your business credit score.
There's another good reason to keep an eye on your business credit: It's public. This means your potential clients or suppliers could use it (for a fee) when deciding whether to do business with you.
Business credit is similar to your personal credit in that it allows potential creditors to judge what kind of credit risk your business may pose. For established firms, a higher business credit score could mean better access to loans and lines of credit, lower interest rates and cheaper insurance premiums. When you're just starting, you won't have a business credit score until you open a business credit card or secure a line of credit from a vendor that reports to the major business credit bureaus: Experian Business, Equifax Small Business and Dun & Bradstreet.
Related: 9 reasons to get a business credit card
Where to get free business credit reports
Dun & Bradstreet offers a free service called CreditSignal, which sends alerts whenever your scores or reports change. However, it doesn't give you access to the full reports themselves. Here's the fine print on the website:
CreditSignal only shows four of your Dun & Bradstreet scores for 14 days, then provides directional changes to such scores. To view additional scores and ratings or view scores and ratings following the 14-day period, we recommend that you upgrade to one of our paid credit monitoring or credit building solutions.
Credit monitoring services like Nav will give you free access to a summary of your Experian Intelliscore and Equifax reports when you sign up for a free account. The site says its free service provides business credit grades for each score, access to your personal credit score from Experian and summary reports.
Again, these are only summaries; you must pay for more tools or details related to your credit report. However, this is a great place to start if you aren't tracking your business credit.
Nav offers a Prime plan for $49.99 per month, while Experian offers a credit report starting at $39.95 per report or up to $189 per year for unlimited reports and tracking data.
Another option is Tillful. Just as there are different types of personal credit scores, there are different types of business credit scores. Tillful is free to use but is not exactly the same as the options listed above. If you apply for a loan or business credit card, the issuing bank will probably pull your data from Equifax, Experian or Dun & Bradstreet. Tillful will help you understand your business credit and will issue its own score. Still, it's important to understand that this is not the same as the scoring methods lenders are likely to use to evaluate your business.
Related: What credit score do you need for business credit cards?
What details are needed to obtain your business credit report?
No matter which service you're using to view your business credit report and check your score, you'll need to provide information about your business. This will include details like the business name, ZIP code for the business address and personal details of the business owner on file to verify your identity.
You'll likely have to complete security questions as well. These can be information about previous financial obligations or personal details. These answers confirm your identity and prove that someone isn't pretending to be you.
Related: How to identify and prevent credit card fraud
Reading your credit reports and scores
Business credit reports show some information similar to your personal credit reports, such as debts and repayments. However, business credit reports also show public records like bankruptcies and tax liens.
Here's how a typical business credit report is broken down:
- Credit: Number of trade experiences, balances outstanding, payment habits, credit utilization and trends over time
- Public records: Recency, frequency and dollar amounts associated with liens, judgments or bankruptcies
- Demographic information: Years on file, Standard Industrial Classification code and business size
Each bureau will use this data to help generate a business credit score ranging from one to 100 from Dun & Bradstreet's Paydex score or Experian's Intelliscore Plus. Equifax uses a score from 101 to 992, while FICO's Small Business Scoring Service uses a score from zero to 300. These numbers differ from personal FICO scores, which range from 300 to 850.
The closer your business' credit score is to the top of the range, the better. On the D&B and Experian scales, 80 out of 100 is considered a good score.
Related: Here's why I applied for business and personal credit cards on the same day
How to improve your business credit score
If you see your business credit score and come away unimpressed, there are ways to improve it. You'll have to follow similar strategies as you would when looking to improve your personal credit score.
As with your personal credit score, you can improve your business score by decreasing your credit utilization — paying off balances, opening new lines of credit or asking for a larger credit line — and, of course, continuing to pay your bills on time, if not early.
According to Experian, negative marks on your business report may remain in place for some time. Here are the estimated lengths of time you have until they fall off the report:
- Bankruptcies: Nine years and nine months
- Judgments: Six years and nine months
- Tax liens: Six years and nine months
- Collections: Six years and nine months
- Uniform Commercial Code filings: Five years
- Bank, government and leasing data: 36 months
- Trade data: 36 months
If you have business credit cards and pay them on time, you can earn rewards while building your credit history and improving your business' credit score.
Related: 10 considerations for your small-business credit card strategy
Mind your personal credit score
While opening a business credit card can be an important way to separate your personal and business expenses, your personal credit isn't immune from taking hits because of your business activity. Some issuers report business card activity to both personal and business credit bureaus.
Plus, all major credit issuers will check your personal credit when deciding on your business credit card application. This could cause a small temporary drop in your personal credit score related to this hard pull. These are some factors to keep in mind when you're considering opening a business credit card.
However, you'll have little to worry about — concerning either your personal or business credit score — if you consistently pay your card bills on time and try to stay well below your credit limit.
Related: Small business credit card vs. corporate credit card: Which is right for your business?
Bottom line
Keeping track of your business credit can help you ensure you have access to the best interest rates and loan options available to a business of your size and longevity. It's an important way to keep tabs on how others see your business — and how you see it.
However, tracking this information requires jumping through a few more hoops than you'll encounter while exploring your personal credit. That doesn't make the effort any less important, though.
TPG featured card
Rewards
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 3X | Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. |
| 2X | Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Intro offer
Annual Fee
Recommended Credit
Why We Chose It
There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits. (Partner offer)Pros
- 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.
Rewards Rate
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 3X | Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. |
| 2X | Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Intro Offer
You may be eligible for as high as 100,000 Membership Rewards® Points after spending $6,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.As High As 100,000 points. Find Out Your Offer.Annual Fee
$325Recommended Credit
Credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.Excellent to Good
Why We Chose It
There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits. (Partner offer)Pros
- 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.