Credit Rating

What is a credit rating?

A credit rating evaluates all available data from the incorporation of a company to its current position financially. A credit rating will include:

• Bank details
• Financial history
• Any credit granted to the company
• The credit rating also includes any CCJs against the company

If a company applies for credit, loans, or insurance, there's a credit rating file about the company's history of payments. This credit rating file contains information on where the company is based, how they pay bills, and whether the company has been sued, arrested, or filed for bankruptcy.

For a business, credit rating can often decide what credit will be extended. There are many opportunities for a client to check the companies credit history, and it is advised to do so every year.

Importance of a Credit Rating

It is very important for a business to keep fully up to date as to what is on the credit report. Credit rating reports provide the best possible information as to the likelihood of a business defaulting on its debts. Some clients' failure to repay credit could have damaging effects on your company.

checkSURE credit check service is built around one key component - "Full and Comprehensive Company Reports". You can purchase "Full Company Reports" online for only £9.95 plus VAT.

Credit rating by checkSURE introduces greater objectivity and consistency as part of a well-controlled decision process, giving online clients the ability to manage risk exposure with a greater degree of accuracy and in line with their overall business goals. More informed decisions help clients to reduce bad debt and offer more appropriate pricing in response to higher credit rating risk.

If a loan company refuses a company credit because of information found on the business credit rating, the client is legally allowed to start their credit rating from fresh. If the client had fallen into arrears on a previous loan in the past, it doesn't mean that they will never be allowed to gain credit again.

All credit rating reports are saved within your checkSURE portfolio and can be viewed from any Internet connected computer in the world. This means that you can always update yourself on the credit rating of companies you are interested in.