Anyone Can Pull Your Credit Report

ANYONE Who Wants Your Business Credit Report Can Pull It

With consumer credit, someone HAS to have Permissible Purpose to pull your personal credit. They must have your consent to review your reports.

Only certain institutions like banks, auto dealers, mortgage brokers, and others licensed to lend money and with approval for credit pulling capabilities can pull your consumer credit report.

But with business credit, this information is public. This means ANYONE who wants your business information can easily and cheaply get it.

Think about some of the people who can see your reports as they wish whenever they want. They are customers, clients, suppliers, others who you might do business with, and competitors.

Here is some of the information anyone can easily see about your business: 

 

  • Amount of tradelines (payment experiences) 
  • Credit scores
    z High credit limits 
  • Past payment performance
  • Employees
    z Revenues 
  • And much more 

It is available to ANYONE who wants it. 

Pull your own credit reports to see what others are seeing about your company right now http://www.creditsuite.com/reports. 

Would you want to do business with a company with a similar profile? What does your profile say about you? Are you established? How will your customers, clients, even competitors think about you with this information?
Keep monitoring your reports regularly to see what others can see about you. And keep building your business credit so you can portray a credible image for anyone who wants to see your credit in the future, especially those who lend money or issue credit

How this Affects Your Ability to Sell Your Business

Anyone who has sold or bought a business will tell you of the importance of business credit. All potential buyers can easily get extensive information about your business, just by getting your business credit report.

Now that you know how easy extensive credit and financial information is to get for a company, if you were a buyer wouldn’t you get it?

Based on what’s on your business credit report, would you want to buy your company? Does your report reflect that your company is established? Does it show that you pay your bills, do you look like a successful company from your report?

If you could choose from two companies to buy that were the same in every way except business credit, which one would you buy?

The one with a very limited or no credit profile? Or one with a credit profile reflecting good payment performance, with available credit? Business credit is essential in getting a good evaluation of a business. So, make sure you have checked yours recently and that it represents your business as you want and it should.