Credit Report Service for Small Business Owners (cont.)
Contributed by Rachel s Pickett
Credit Report Service Con's
For small business owners checking your credit with a credit report service may be helpful to your business situation. But, keeping a check on your credit report may also be a bit damaging. When lenders look at your credit report they will be able to see that you have a check or audit placed on your report. In some cases this can be detrimental. Some companies will not extend credit if they see that you are constantly checking your credit.
They want to see that you know how to handle credit responsibly without having to check it all the time. If you rather, it has been recommended that you check your credit report and score every 3-4 months.
Another concern with using a credit report service is the fact that the fees can become quite costly for checking your credit report so often. Placing a check on your account may carry a fee greater than the charge you've already paid to obtain a copy of your credit report. A great way to get your best deal is to contact a customer service representative to find out what fees and charges apply to you.
