It’s important before applying for business credit that you understand how trade accounts report. This short video explains those important details that can save a business from large reporting issues down the road.

Purchases and payments are required in order for trade accounts to report (sometimes over $50).

Not all business credit accounts report. It’s important to use those that do.
When setting up business credit accounts, the correct business name, address and contact information MUST be used.

Just like personal credit, sometimes credit information is reported incorrectly onto your business credit reports. The process to update and correct your reports is different than personal credit. Business credit reports aren’t regulated like personal credit reporting is, but you’ll find that the business credit bureaus are fairly responsive.

It’s always important to make sure any information reporting on your credit reports is correct. It is worth taking the time to correct any inaccuracies.