How to check your business credit score for free (2024)

While you may think credit scores are reserved for individuals, businesses also receive that important number.

Similar to personal credit scores, business credit scores play a part in how lenders judge your business's eligibility for credit products, such as business loans and small business credit cards. If you're a small business owner applying for credit, it's important to understand what makes up your business credit score and how you can access your business credit report.

Below, CNBC Select reviews common questions surrounding business credit scores and credit reports, so you can familiarize yourself with your company's credit standing.

A business credit report is an aggregate of your business's credit history. This is similar to a personal credit report, which is a snapshot of your personal credit use. Lenders use information found in your credit report to judge how likely you are to repay credit extended to you.

Here's some of the information you'll typically find in a business credit report, according to the Small Business Association (SBA):

• Number of employees, sales, ownership and subsidiaries
• Business registration and operational information
• Industry classification
• Public filings (i.e. liens, judgments, etc. )
• Payment history and collections

What's on your business' credit report affects the bottom line of your business in many ways. According to the SBA, the interest rates, repayment terms, insurance premiums and credit you receive from banks and suppliers can all be impacted by your business' credit report.

A business credit score considers many of the same factors as a personal credit score, such as payment history and amount of debt used. However, business credit scores use different scoring models.

Dun & Bradstreet (D&B) PAYDEX Score and Experian Intelliscore Plus are two business credit scoring models. These scores range from 1 to 100, and the higher the score, the better. Consumer FICO Scores, on the other hand, are ranked 300 to 850, with 800 and above being considered exceptional credit.

Business credit scoring models weigh different factors when calculating scores, but you can anticipate that your payment history, age of accounts and amount of debt will be considered. If you carry a balance or miss payment on a business credit card, that is likely to be factored into your business credit score and can negatively impact it. On the other hand, consistently paying off your business card's balance in full and on time, is likely to help improve your business credit score over time.

While there are dozens of free credit score and free credit report resources available for consumers, it gets tricky when you look for business versions. There are some free business credit score resources available, but you may not get the full picture compared to a service that requires you to pay.

Unfortunately, services that allow you to add extra information to your credit report and possibly boost your score, tend to only be available for consumer credit reports. For example, *Experian Boost™ could help you improve your personal credit score by including payments to utility companies or streaming services, but it won't make a difference to your business credit history.

To make things easier for busy business owners, we've rounded up the popular free credit report resources and summarized what they offer. We've also included some of the other services that cost money but can be worth the money if you're looking for a comprehensive view of your business's financial standing.

Monitor your business credit score for free

Unfortunately, you'll usually have to pay to check your actual business credit score from the most common credit reporting agencies. However, you can get some basic information and see your business' credit score trends for certain scores.

With Dun & Bradstreet Credit Insights Free you can get a general idea of what's on your business credit report and where your business credit score is heading. Here's some of the information available with the free version:

• Changes for three credit scores and ratings (PAYDEX Score, Delinquency Score and Failure Score)
• Basic company information and business operations summary
• Legal events summary

However, with the free version, you won't have access to your full Dun & Bradstreet business credit report and credit score. That means you can't see your actual business credit scores, just the direction they're moving.

Eligible Bank of America small business customers can access their Dun & Bradstreet credit scores for free if they're enrolled in the bank's small business online banking platform, Business Advantage 360. This feature is available with accounts such as the Business Advantage Fundamentals and Business Advantage Relationship checking accounts. Both of these business checking accounts have monthly fees that can be waived if you meet certain requirements. If you qualify for the fee waiver, this is a good free option for reviewing your business credit score.

Paid business credit score services

If you want to see your business credit score with Dun & Bradstreet and aren't a Bank of America Business Advantage 360 client, you'll need to upgrade to at least a Basic plan for $49 per month or $499 a year.

The Basic plan allows you to view five D&B credit scores and ratings and view your credit score history. You can upgrade to higher CreditBuilder™ Plus and CreditBuilder™ Premium plans to access more features, such as alerts when you're business credit file is requested.

There are also several paid options for viewing your Experian business credit report. You can purchase a one-time report to see your Experian business credit score and business credit history. It costs $39.95 for a CreditScore Report and $49.95 for a more detailed ProfilePlus Report.

If you want to closely monitor your business credit history and receive alerts, opt for an annual subscription. An annual plan costs $189 per year for Business CreditAdvantage, and there's a premium version, the Business CreditScore Pro, which costs $1,495 per year.

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