B2B Payments

Capital One Offers Free Business Credit Reports

Capital One has announced the launch of Business CreditWise, an online tool that enables U.S. businesses to check their credit profiles. According to a recent Capital One survey, nearly 31 percent of small business owners have either never heard of business credit reports or are not educated about them, despite the fact that managing their credit can enable them to access more funding, establish partnerships and grow their businesses.

Business CreditWise is available to any business in the United States — not just Capital One customers. In addition, the tool can be accessed at any time without impacting a company's credit rating.

"Business credit is a critical component of a company's ability to secure financing, yet our research shows less than half of business owners have ever viewed their business credit reports," said Jenn Garbach, head of brand and marketing for small business card at Capital One, in a press release. "Our goal is to empower businesses with products and tools that help them succeed and grow. With Business CreditWise, business owners can quickly and easily access their credit, correct mistakes and understand what is impacting their overall credit report, free of charge."

Business CreditWise provides unlimited access to a business credit report, sourced in real time from LexisNexis Risk Solutions. The service includes a complete view of key factors that impact business credit; a guide to help businesses interpret their credit reports in the same way as lenders; and the ability to find and fix inaccuracies for free by submitting disputes to LexisNexis Risk Solutions.

"At Capital One, we are dedicated to helping business owners unpack the complexities of their business credit, and manage this aspect of their financial reputation," continued Garbach. "We launched CreditWise for consumers in 2016, and, since then, millions have enrolled in the credit-monitoring tool to help understand, improve and protect their credit. We are excited to add Business CreditWise to our suite of tools and features, designed to help business owners manage their finances and make well-informed decisions."



About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.