Wondering how business credit scores differ from personal credit scores? Here are a few ways.
Business credit reports typically are available for a fee. Equifax, for instance, offers single business credit reports for $99.95, while Experian offers a detailed business credit report for $49.95. Dun & Bradstreet offers a free 14-day trial of its monitoring service (i.e., D&B CreditSignal), which entitles a user to view 4 of its business credit scores and ratings, after which users must upgrade to a paid plan of either $15 or $39 a month.
With personal credit reports, you’re entitled to one free copy from each reporting firm every 12 months, available at AnnualCreditReport.com. There also are free credit monitoring sites, such as Credit Karma.
Any person, vendor, client or company can search for and purchase any business’s credit report. This isn’t the case with personal credit reports, which only are available to the individual or those allowed under the law, such as a dealership you’ve authorized to pull your credit report when you’re buying a new car.
Credit Score Ranges
Most commonly, business credit scores range from 0-100, though FICO business credit scores go up to 300. On the other hand, personal credit scores range from 300 to 850.
What Is a Good Business Credit Score?
There are several different business credit rating and scoring models, including the following:
- Dun & Bradstreet’s Paydex Business Credit Score
- Dun & Bradstreet Delinquency Predictor Score
- D&B Failure Score
- Equifax Payment Index
- Equifax Business Credit Risk Score
- Equifax Business Failure Score
- Experian’s Business Credit Score
- FICO Small Business Scoring Service (SBSS)
Because of that, there are different business credit score ranges and different ways credit scores are calculated.
For D&B, 80 or higher is considered a good credit score. In contrast, Equifax sees 90 as a good score, while a score in the mid-70s is considered good with Experian. For FICO, you’ll need at least a score of 160. (For Small Business Administration (SBA) loans, the minimum SBSS score is 155.)