3 facts about Experian commercial what you need to know and how to use these facts
to actually help get money for your business. So during today's training we're going to talk about
Experian commercial, we're going to talk about 3 things you need to know to improve your Experian
commercial credit reports, which will help you qualify for all kinds of credit financing. We're
going to talk about surprising things about your scores that you need to know to have the
highest scores with Experian, we're going to talk about things your credit report that you didn't
even know were there and we're going to talk about insider information on getting set up and who uses
Experian that you really need to know because it's crucial to being able to get the kind of
credit financing you want to get. If you stick around at the end of this training
I'm getting you access to our business credit building guide and teach you how you get your
Experian commercial credit reports for free, we've got a lot to cover so let's dive in.
So the first fact to know about Experian is who uses them. Experian is the most widely used
business credit reporting agency when it comes to credit cards, so if you want to get approved for
any kind of credit card for your business whether it be a starter vendor whether it be a credit card
with a store or retailer like Staples or Office Depot, computer leases like Apple, HP, Dell, even
auto financing with places like Ally, places like Ford, or GM, Visa card, MasterCard, Fleet credit. If you
want to get a credit card for your business you really need to build out your Experian commercial
credit report score, by doing so you make yourself very appealing to credit card issuers that will
issue credit to your business. Now, yeah another surprising fact about Experian is what's actually
on your commercial credit reports, your Experian commercial credit reports can have as many as 5
different credit scores from Experian, and these are typically categorized 2 different ways first
is based on performance or performance of what you've done in the past. So this is a score like
Intelliscore which will actually show a numerical mathematical valuation for what however you've
paid your bills in the past. I think I said that wrong but ultimately what I'm saying is you've got
an actual number that reflects on average how you pay your bills. So if you pay your bills on time
well then you get a 90 score with Experian, if you pay it early you can get as high as 100 score
depending on how early you pay, but if you start paying it late then your score gets lower and
lower and it gets lower and lower the average the lower the overall average of all accounts
report to Experian are actually paid. Now you also will have what are called predictive scores and
predictive scores use the same information trade data that's reported to Experian but it also looks
at things like how long has your business been around, how many employees does your business
have. What industry sector or your NAICS or industry code do you actually have, we also look at
things like utilization even total inquiries on your credit report, but most importantly they're also
looking at financial data, though you generating a profit is your revenue increasing year after year
you can actually give your tax returns to bureaus like Experian something a lot of business owners
don't know and if they're good that can give you good scores when it comes to the predictive
side. So expect these things expect that when you go to get credit cards that they're going
to be looking at your Experian commercial credit report and also expect when you're reviewing that
commercial credit report that you're going to see a lot of different scores that fall in these
two different categories of predictive and performance scores. And a third surprising fact
about Experian commercials, they will give you a failing credit report and score even when you
have no credit, now we're not used to this in the consumer world we're used to have to make
mistakes or mess up our credit to have bad credit scores but in the business world with Experian,
Equifax if they know your business name your address and your NAICS or industry code all of
which they get from your secretary of state they will create a credit report for you and a credit score and
that failing credit score will be just that a failing score, as a matter of fact, there's something
called a financial stability risk score which reflects literally your risk of going bankrupt
closing your doors ceasing operation in the next 12 months, and your score will be lower than 10
if they know you exist and you have no credit established now to give you an idea that score
ranges from zero to 100 with 100 being low risk or really good score, and zero being bad you'll get a
score under 10 just because they know you existed because you have no credit. So you've got to make
sure that you're building credit with Experian because the minute you give your Secretary of
State your annual report filing data they give that Experian you can expect a credit report
score to be filed for you and created shortly after and that will make it very difficult to
get all kinds of credit financing, so make sure you grab our free guide at creditsuite.com/ein
creditsuite.com/ein so you can start building business credit with Experian
and that way you can have a good report and score making it easier to get the credit financing you
need. And yet a fourth interesting fact about Experian, I know I promised you three but I
have a tendency to under promise and over deliver are three accounts that can help
you build initial business credit with Experian three great starter vendors to get started with
that report to Experian commercial include Uline, Philips 76 the gas station, and WEX fleet card.
All three of those are great starter vendors you can use to build the initial business credit and
all three of them will help you build business credit with Experian. To learn more about building
your business credit grab our free guide at creditsuite.com/ein and if
you'd like to get your Experian credit reports for free, give us a call for a free business
credit funding consultation on this consultation call we'll do a fundability assessment to figure
out what's wrong with fundability and what you need to fix to be more fundable, we'll help you
get your business credit reports with reporting agencies review those for free with you give you
tips and tactics for improvement, and we'll also do a funding qualification it all happens on
an initial call with us which is 100% free give us a call 877-600-2487 that's 877-600-2487.
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for our next training where talk about more cool ways to get money to start grow your business.