If you’re looking to build your business credit, no doubt you’ve heard of Credit Suite. They’re probably the biggest name in the business credit building industry.
We’ve reviewed their service, software, and customer reviews in-depth.
Let’s dive in.
What is Credit Suite?
Credit Suite Inc, simply put, helps businesses improve their fundability and build business credit to get the money they need.
At its core, business funding is a lot like personal funding where you need to build credit to get financing. And businesses have credit scores just like people do.
Credit Suite helps business owners optimize their personal credit and build business credit to get funding.
Some of Credit Suite’s key services include:
- Assisting with EIN and entity setup
- Performing a 411 credibility listing
- Checking business name, address, website, email, and phone credibility
- Assisting with a bank and merchant account setup
- Helping with business credit building and managing monthly payments
- Managing a business credit profile and performing a credit check
- Credit monitoring and credit repair for bad credit
- Offering training for getting a business credit report and commercial credit scoring
- Assisting with Dun & Bradstreet, Experian, and Equifax setup
- Helping access high-limit store, fleet, and cash credit cards with reasonable interest rates
- Helping access a large credit line
- Performing business valuations
- Offering inside access to starter and advanced vendors
- Running LexisNexis and ChexSystems reports
Credit Suite has two different pricing options.
You can make a one-time payment of $2,997. Or you can make seven monthly payments of $597.
Credit Suite Pros:
Step-by-Step, Personalized System
Whenever you first begin using Credit Suite software, they ask you several questions to assess your specific needs. Then they’re able to determine the optimal approach for building business credit and getting financing.
From there, they guide you through the step-by-step process to ensure you set up your business in the right way to obtain funding. Beyond that, they show you how to apply to different business products.
This is important as every business is different. And taking a one-size-fits-all approach won’t usually cut it.
But with Credit Suite’s step-by-step, personalized system, you can move through the business financing process in a streamlined way while minimizing common friction points.
Guidance from Business Credit Advisors
Another big perk is that you have a team of experts you can contact over the phone or by email whenever you have questions or want to get feedback on your personalized plan.
While similar companies usually have some type of support system, not all offer this one-on-one type of guidance.
And many customers especially find it helpful to speak over the phone because of the deep level of input it provides.
If you’re the type of person who prefers to pick up the phone and talk with a real person whenever an issue arises, Credit Suite is a great choice.
Get Access to Their Lender and Vendor Database
Most companies don’t share their business financing information publicly, and business credit isn’t anywhere near as regulated as personal credit is. Therefore, there’s not as much transparency in terms of what businesses need to do to get funding.
One of the main selling points of Credit Suite is that they have over 2,000 companies in their database, and they keep their information up-to-date. You can say goodbye to scouring the internet for net 30 accounts and business credit cards.
That’s extremely helpful because they know the exact qualifications needed for any business loan, financing option, or a credit card like Marriott Bonvoy or American Express. By eliminating much of the guesswork, your chances of finding business financing increase dramatically.
Access Your Business Credit Data
Most small business owners don’t know how to access their business credit report and business credit score.
Credit Suite is helpful here as well because they give you access through their software to a paid version of Nav, which, in turn, gives you access to your business credit reports and scores from Dun & Bradstreet and Experian.
And as we mentioned earlier, they also give you access to your Chexsystems report and LexisNexis report.
So if you’re not sure how to go about getting your business credit data, Credit Suite can be a game-changer.
Way Better Than the Competition
There are several other companies out there that offer similar services, but Credit Suite is way more comprehensive.
Square 1 Credit Suite, Credit Suisse, Future US Inc, and CMS Credit Suite, for example, are more consultant-based where they offer you advice. However, most don’t have actual software, won’t connect you to others in the industry, and can’t help you get credit reports.
This is by no means a knock on other companies like Square 1 Credit Suite, Future US, and
Credit Suisse Group, as they certainly have value. But their services just aren’t as robust.
If you want someone to hold your hand to help you get, $100,000, $200,000, or even $300,000 of cash flow. Or if you’re looking for a business credit card with a high credit limit, a credit line, or a business loan to fuel growth, Credit Suite will teach you how to do it.
Credit Suite Cons:
It’s Not Cheap
The most obvious downside is its high price. Users pay at least $3,000, which is a big chunk of change for many small business owners.
If you’re just starting out and on a shoestring budget, software like Credit Suite may not be in the cards simply because of the price.
While the long-term financial benefits often trump the initial cost, it’s still an investment that some businesses just aren’t ready to make.
You Could Build Business Credit on Your Own
It should also be noted that there’s a lot of information out there that you could piece together if you want to.
Reading blogs, watching YouTube videos, and accessing gated eBooks, for example, can supply you with a lot of information you can use to build business credit on your own.
That being said, it’ll take a long time and be a big hassle, and you’re not going to get guidance from industry experts that eat, sleep, and breathe business credit.
But for people that are frugal and like to do things on their own, Credit Suite probably isn’t the best fit.
Credit Suite Reviews
By and large, Credit Suite has received excellent reviews, and most users are very satisfied with the software.
They currently have a 4.7 out of 5-star rating on Trust Pilot, currently with 211 total reviews.
They have an impressive 4.8 out of a 5-star rating on Google, currently with 231 total reviews.
And although not accredited by the Better Business Bureau, Credit Suite has received an A+ from them and has a 4.2 out of 5-star review.
So that’s really good.
In particular, customers are satisfied with the level of knowledge, professionalism, and overall service they get from Credit Suite.
There are a ton of positive reviews that rave about the responsiveness of the company.
There’s also the collective sentiment that Credit Suite genuinely cares about helping businesses get the financing they need.
Poor reviews are hard to find, with the only real negative being that it took one customer longer than expected to receive a refund. But the company was quick to follow up and get the issue resolved.
When you look at the big picture, Credit Suite is one of the most respected companies in their industry.
Is Credit Suite Worth It?
So what’s the bottom line? Is Credit Suite a service and software that we personally recommend?
Yes, we definitely recommend it for most businesses that are looking to “throw gas on the fire” of financing.
If you’re anxious to get the ball rolling, and you want a program that can hold your hand through your first $100,000 or more in business funding, Credit Suite is one of the best there is.
And because of the level of personal service they offer, with experts on standby to answer your questions and give feedback, it’s ideal in the notoriously difficult world of business financing.
The only exception would be if you can’t afford the initial $3,000 or are DIY-minded and love to figure out each step for yourself.
In that case, it’s probably not right for you.
But it’s perfect if you’re comfortable spending a bit of money upfront to obtain serious cash flow, business credit cards, and small business loans to pump a lot of money into your company to accelerate growth.
While there’s no personal guarantee, countless businesses have benefited by using Credit Suite.
Nick is an author, small business owner, and finance/digital marketing writer. He’s been covering the industry for over a decade and loves exploring topics to help other small businesses succeed. You can connect with him at Nickmannwrites.com.