From the course: Credit Secrets for Entrepreneurs

Business credit scores differ

From the course: Credit Secrets for Entrepreneurs

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Business credit scores differ

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- One thing that's very common in business credit is for business owners to see very different scores. So, for example, this business owner doesn't have a strong Experian Intelliscore. It's actually quite low. But they have a pretty decent D&B PAYDEX score and a very good FICO SBSS score. That's not unusual and the reason is the consistency of the information that's reported to business credit reports is very different than with consumer credit reports. The consumer credit, if you get a student loan or a mortgage or an auto loan, there's a very likely chance that debt is going to appear on all three of your consumer credit reports. When the lender sends that information over to the credit bureaus, whether it's Equifax, Experian, or TransUnion, they're going to use the same reporting format for reporting the data. Business credit is not as standardized. You may have one lender or a vendor that you use and they report to one bureau and not the other. Or maybe they report to two and not all three. They may not use the same exact data format in reporting that data. So it's possible some differences could come up in the reporting that could affect your credit data and, ultimately, your credit score.

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