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Business Credit AdvantageSM subscription plan questions

See sample Business Credit Advantage Report




Answers


Why sign up for a Business Credit Advantage subscription plan?
No matter what size your business is, it is important to protect your company from the unknown. Know who you do business with and be aware of how they are doing. According to the Small Business Association (SBA), in 2003 there were approximately 584,800 business closures and 35,037 bankruptcies. Furthermore, the FDIC stated there was approximately $37.8 billion in net lease and loan charge-offs by commercial banks in 2003. This reflected an increase of 81 percent over charge-offs in 1999.

Online instant Business Credit Advantage is the best way to manage the risk of picking an unreliable supplier or extending credit to a potentially weak customer and to see how your competition is doing. For a nominal yearly fee, you can keep an eye on those you do business with and be proactive at the first sign of trouble.

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Can I access multiple company reports under a Business Credit Advantage subscription plan?
No. You will need to purchase a separate Business Credit Advantage subscription plan for each company that you would like to monitor.

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How do I cancel a Business Credit Advantage subscription renewal?
Should you choose to discontinue your subscription renewals please follow these links after you login: My companies / Alerts, receipt and more (next to the plan that you want to cancel) / Cancel plan renewal.

Note that you will continue to have access to updated reports on SmartBusinessReports.com and you will receive email alerts for the remainder of the current subscription period.

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How often will I receive an email alert?
Although Experian checks every day for bankruptcies and every week for trade and public record changes, you will receive an email alert only when one of your chosen companies has a negative credit experience. For some companies having financial or legal trouble, the email alerts could occur every week. For others experiencing a temporary problem, the email may come only for a few weeks and then stop. If a company is doing well, you probably will not receive any emails.

! In order to receive uninterrupted emails from us, please add:
experianHelpdesk@smartbusinessreports.com,
monitoring@smartbusinessreports.com, and
ExperianSubscriptionBilling@smartbusinessreports.com
to your "approved senders" list. Please use the 'Help / Contact us' if you'd like us to send you a test email.

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What does the Business Credit Advantage report look like?
The Business Credit Advantage report is the most complete credit report we have on the business that you are researching. Whether that is the ProfilePlusSM report, the CreditScoreSM report, or the BizVerifySM report, you will have unlimited access to it for a year. When we obtain additional information throughout the year, it will be automatically reflected in the online report. You will have access to this latest report for as long as your Business Credit Advantage subscription remains active.

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How often does Experian check the credit status of my selected companies?
Experian checks for bankruptcies every day and checks for trade and public record changes every week.

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When do the emails go out?
The email alerts are sent on Tuesdays.

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If I sign up for a Business Credit Advantage subscription plan, when will I get my first email alert?
Since Experian sends out email alerts on Tuesdays, you will receive your first email alert on the following Tuesday. The exception is if you sign up for your plan on a Monday. You will not receive your first email alert the next day. The system requires a bit longer to set up your full account. As a result, if you sign up on a Monday, your first emails will occur on the Tuesday eight days later. However, please note that you will receive emails only for your selected companies that experienced a derogatory credit change.

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What is the lag time between when the event occurs and when I receive the email alert?
Experian relies on new public record data and trade data from a number of outside sources, including court data from various municipalities. Unfortunately, sometimes there can be a delay by the courts and other outside sources in sending Experian this data. However, as soon as Experian receives new company data, the information is dated as per the time of the event and included in the Tuesday emails.

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What types of credit alerts trigger an email?
An email alert is sent out if a new public record is generated on your selected company. The public record could be a bankruptcy, a legal judgment, a tax lien, or a Uniform Commercial Code on a piece of equipment. An email alert is also sent out if a trade partner submits derogatory trade information on the company such as slow payments or a credit write-off.

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What is the most frequent type of alert?
Trade payment is the most frequent type of alert.

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How often are these events experienced for a typical company?
There is no typical experience for a company. In most cases, a company is affected by the industry it operates in, the amount of debt a management team takes on, the in-house policies on paying bills, and of course economic cycles and seasonality. These factors show how different companies can be.

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What are Inquiry Alerts and when do I receive them?
Inquiry Alerts are included in the Business Credit Advantage Subscription. Each time an entity orders a copy of a credit report for a company you have enrolled in Business Credit Advantage, you will be notified via an automated email alert. Inquiries are processed weekly by Experian and sent to you every Tuesday. If you have more than one company enrolled in Business Credit Advantage, you will receive individual inquiry alerts for each company.

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What happens if I don't get any email alerts?
If you do not get email alerts, it indicates that we have no record of the company experiencing any events that generate the credit alert triggers. These events include bankruptcy, legal judgment, tax lien, Uniform Commercial Code filing on equipment, or derogatory trade practices.

! In order to receive uninterrupted emails from us, please add HelpDesk@SmartBusinessReports.com, ExperianSubscriptionBilling@SmartBusinessReports.com, and Monitoring@SmartBusinessReports.com to your "approved senders" list. Please use the 'Help / Contact us' if you'd like us to send you a test email.

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If I never get an email alert, does this mean I can count on the business being a good credit risk?
No, not completely. It is suggested that you review an Experian business report on the company to be certain. The business report will indicate how slow the DBT (days beyond terms) is for the company. A review of the Uniform Commercial Code listings on the business report also will indicate how leveraged the company is getting.

In addition, it is helpful to review any public information from the Securities Exchange Commission (if the company is traded on the stock market) or in news reports that may indicate items such as gains or losses of key customers or changes in the management team.

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Is there any way to follow up on an email alert? What if I have a question?
Use the 'Help / Contact Us' feature of our website to ask your questions.

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How much does a Business Credit Advantage plan cost?
Business Credit Advantage costs $149 annually for each location monitored.

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At the end of the plan, what happens to my subscription?
Approximately three days before the end of your subscription period we will automatically renew your subscription. You will be notified by email if this process fails.

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I just received an email with the alert type 'legal'. What does this mean?
A legal alert is based on new public record filings on the company. A legal alert could be a bankruptcy, a tax lien, or a judgment. A review of the company's business report will indicate which event pertains to the company.

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I just received an email with the alert type 'derogatory'. What does this mean?
A derogatory alert is based on new negative information regarding the company's obligations. This negative information could be "slow payment" comments by other suppliers, a new tradeline with a balance greater than 50 percent and more than 61 days beyond terms. It also could indicate that a tradeline or credit line has been turned over to a collection agency. A review of the company's business report will indicate which of these situations pertains to the company.

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I just received an email with the alert type 'trade payment'. What does this mean?
Payment warnings can refer to a few different things. It can warn that the company is becoming increasingly late with its trade payments and days beyond terms (DBT) are getting higher. It can also warn that the DBT significantly exceeds the company's six-month historical range. Also, it is possible the company is paying later than 70 percent of other businesses in the same industry. A review of the company's business report will indicate which of these situations pertains to the company.

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Email alerts have stopped coming. Why?
If an email we send to you bounces back as undeliverable for any reason, we will stop sending you alerts by email. Alerts are still generated, and are stored in the alert history available under the "Alerts, receipt and more" link.
Note: Alert emails are sent from the email address: monitoring@smartBusinessReports.com

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