Regularly checking your business credit score helps protect both you and your business in several ways. So, in this post we’ll share three of the most meaningful reasons to check your business credit score!
First, it prevents fraud:
Monitoring your business credit score can reveal potential fraud or identity theft. A new account you don’t recognize, an application for credit you didn’t make, or inaccurate information could be a sign of fraudulent activity. Contact Experian if you see anything amiss on your business credit report.
Second – to monitor the health of your business:
A good business credit score can open doors, giving you access to more credit, lower interest rates and better loan terms. Your business credit may be the deciding factor in whether you get approved for a lease or for trade credit. Regularly checking your business credit score gives you a sense of where your business stands and how successful your applications for credit are likely to be.
And third, to safeguard your personal assets:
Without a good business credit score, you may need to personally guarantee business loans or use your personal credit score to apply for business credit. This could put your personal assets—and personal credit score—at risk if your business suffers a downturn. A good business credit score can help you get credit in your business’s name, protecting your personal assets.
You can check your Experian business credit score by purchasing a one-time copy of your credit report or signing up for business credit monitoring, including unlimited access to scores.
