Capital One Launches Free Business Credit Reports

Feb 14, 2019

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Capital One just announced a new service to help business owners better understand their credit report. The bank has launched a tool called Business Creditwise that offers companies free access to their business credit profiles.

Similar to Capital One’s consumer credit tool Creditwise, this website allows business owners to see different aspects of their credit report — including details of payment history, credit usage and public records that may affect a businesses’ credit score.

Capital One conducted a survey that revealed less than half of business owners have ever seen their business credit report. Its Business Creditwise tool is one of just a few that offers the service for free. Creditwise does not provide a business credit score, unlike other programs that provide complimentary personal scores, like banks themselves or third-party services such as Quizzle; instead it provides a business credit profile.

Capital One said Business Creditwise will provide the access to the following information:

  • Unlimited access to your business credit report, sourced real-time from LexisNexis Risk Solutions, with no impact to your business credit
  • A comprehensive view of key factors that impact business credit under four pillars: Business Details, Payments, Credit Usage and Public Records
  • A guide to interpret your business credit report the same way lenders do with helpful, educational tips
  • The ability to find and fix inaccuracies for free, with no hidden fees, by submitting disputes to LexisNexis Risk Solutions

After logging in to Business Creditwise, you’ll see a slick dashboard that displays all your businesses’ data. You can click on each feature for more detailed information.

A TPG staffer’s credit report as seen through Capital One’s Business Creditwise.

It’s nice to see Capital One adding more tools that will help business owners and those with small-business credit cards. TPG Director of Special Projects Julian Kheel was able to quickly pull up his sole proprietorship business (which only requires a Social Security number) in Business Creditwise. Since personal and business credit scores are separate and calculated in different ways, it’s worth checking out Business Creditwise or similar tools that’ll reveal your business’ credit profile — that way you can correct any mistakes or make sure there’s no fraudulent activity on your accounts.

Capital One has a handful of business credit cards, including the cash-back earning Capital One Spark Cash Select for Business and the Capital One Spark Miles for Business, which now earns transferrable miles

The information for the Capital One Spark Cash Select has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Read more on business credit:

  • What Happens If You Put Personal Expenses on a Business Credit Card?
  • Which Business Credit Cards Could Affect Your Personal Credit?
  • 5 Steps to Build Your Business Credit
  • The Best Business Credit Cards of 2019

Featured image by Getty Images.

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