Protecting your business and personal credit scores is as easy as making a quick phone call. The three main credit bureaus are:
Experian
Equifax
Transunion
One quick phone call to each of these credit bureaus will allow you to place a lock on your credit. This lock on your credit means that no institution will be able to run your credit without your personal authorization. The authorization process is simple, just a 1-minute phone call to identify the name of the legal entity that will be checking your credit. They will temporarily lift the lock on your credit for 24 hours to allow the specified institution to pull your credit report. This will help you protect your credit scores from unauthorized inquiries.
Unfortunately, a common scheme in the world of business finance involves unauthorized brokers shopping your credit in an effort to pitch you "approved offers". By shopping your information to multiple lenders, they are able to secure offers for your business and present a loan or advance product that is "ready to fund". This is all done to lure you into a quick deal using high pressure sales tactics. Many business owners have fallen victim to this scheme, which damaged their credit scores without them knowing it. With a simple lock on your credit, unauthorized parties will not be able to shop your credentials, and you will completely avoid this situation.
You may also contact the credit bureaus directly to review your credit report with them. If there are any credit inquiries that you do not recognize, they will remove fraudulent inquiries from your report, and your score will be adjusted within 3-5 business days.
For more information feel free to call 720-222-3396. For your convenience the numbers to the customer service hotlines for each credit bureau are copied below:
Experian Customer Service : 1-888-397-3742
Equifax Customer Service : 1-888-548-7878
Transunion Customer Service : 1-800-916-8800