Page 167 - Winning The Credit Game Bundle (CK Patrick)

Equifax payment index. This measures the total
amount of your business’s past payments that were
made on time. Like Dun & Bradstreet’s PAYDEX score,
it is measured on a scale from 0-100, with a score of 10
or lower being good.
To improve this score, ensure that all your business’s
bills are paid on time and in full every month.
Equifax credit risk score. This score ranges from 101-
992 and attempts to predict how likely it is that your
small business will become severely delinquent on
payments. A score of 892 or higher is considered good.
It takes into account variables like your current credit
utilization rate, your business size, the number of
transactions your business has paid late, and the total
age of your business’s credit. To improve this score,
keep your credit utilization rate low and your
payments on time.
Equifax business failure score. This score ranges from
1,000 to 1,600. Scores near 1,000 indicate a high chance
that a business will fail in the near future, while scores
near 1,600 indicate a high probability that your
business will continue to exist for the foreseeable
future. A score of 1,400 or higher is considered good.
This score considers factors including the amounts of
your business’s recent debts, credit utilization rate,
overall credit age, and delinquent bills. Pay down
your debts, lower your credit utilization, and pay any
delinquent bills to improve this score!

REQUEST A LEXISNEXIS REPORT

LexisNexis is another major provider of business credit reports.
LexisNexis uses AI to search Internet databases for information
including credit and legal records. These reports can include
more detailed information, including records of such activities as
property purchases.

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