Nav Business Review: Credit Monitoring Service

nav-business-review

This valuable credit tracking and reporting tool is essential for building up your tradeline credit quickly. With Nav membership you can check and monitor business or personal credit scores for a low price of $30 per month.

Knowing the up-to-date state of your credit will help reduce loan application rejection, and save you time, money, and energy. Whenever you need to view reports or see updates from Dun & Bradstreet, Experian, Equifax, or TransUnion they’ll be easily accessible from within your Nav Business account.

What is Nav

Nav is an online financing assistant and credit reporting system online that offers you both personal and business credit histories. This makes it a useful tool for helping you build some excellent credit health, and you will also get some great recommendations for credit card providers and lenders who are likely to fund your business to start strengthening your business.

Nav also provides you with several other benefits for your business when looking for funding. If we look closely at all that Nav is offering, you will be able to see exactly how beneficial it can be to you as well.

Membership Benefits

Nav has already worked with more than 500,000 businesses from all over the US, helping them build and keep track of credit reports and scores so that they could approval for much-needed financing.

Below you’ll find our reasons for using this intuitive and robust platform to help improve your credit score. As you monitor your business credit activity you’ll also see the effects in real-time as your strive to reach your credit approval goals.

Free Account

For you to test the system and see if it works, they offer a no-obligation and free account that you can get in a matter of minutes. It is easy and fast to sign up for their paid account. Additionally, once you get your credit summary, you can also use the MatchFactor system to find which credit card providers and lenders you match with as per your credit profile.

Credit Scores

Currently, this is the only company that provides businesses with business and personal credit scores and reports from the four main credit bureaus, namely; Equifax, Dun & Bradstreet, Transunion, and Experian. Additionally, they have a 24-hour credit monitoring system that ensures you get alerts on a real-time basis each time your report changes. Nav will give you the essential credit data needed to apply for financing successfully.

Credit Monitoring

If you are looking for ways to make your business credit score better, then Nav’s simplified credit health monitoring one can help. Nav membership allows you to check vendor credit reports online.

Real-Time Reporting

To ensure that you are always updated on your credit status, Nav provides 24/7 access, and they immediately alert you when there are significant changes on your report. This ensures that your application is approved and the application process is simple.

Additionally, they help you find items on your report that can negatively impact your score. These include liens and judgments. When identified, you can rectify any inaccuracies and wrong posts on your report.

Credit Boost

Monthly payments for your Nav Business Boost and Business Loan Builders memberships are reported as a tradeline to major credit bureaus. Since you need three tradelines just to get a Dun & Bradstreet Paydex score, this is one the easiest net 30 vendor applications you will find, as it comes with a 100% approval rate.

Mobile App

The Nav Mobile Phone App will keep you updated on credit report changes on your phone, 24-hours a day. It’s available on both Android and Apple devices and features alerts for excellent tracking of your credit.

Follow Credit Reports

All paid Nav Business membership allow you to follow the credit reports of up to 5 other businesses, whether they be customers, competitions, or partners.

Credit Insights

They have a simple User Interface that informs you of any items on your report that will likely affect your score. They also offer solutions on how to best improve the credit health of your business.

Identify Theft Protection

When signing up for any Nav Business paid membership, you will automatically get identity theft insurance coverage of one million dollars.

Business Loan Help

Using Nav can help Increase the chances of qualifying for business loans. When you know what you need to do, that is half the battle, and Nav will give you this information to improve your knowledge on the same before you approach any of the lenders. Nav offers you a 41% likelihood of getting approval for your business loan with your credit score.

Financing Marketplace

Nav has many credit card providers and lenders within its marketplace. There is also an extensive algorithm for matching businesses with financial institutions capable of approving them for funding or a credit card application. This will not only save you time when searching for the right lender but also simplify the search. 

Their MatchFactor technology helps recommend funding options that your business can qualify for instantly based on your current credit health.

Why Pay

So, why should you consider paying for Nav Business plans?

For new businesses who don’t have an urgent need to create a credit report, the free standard plan can be sufficient. The Nav Business Manager, Business Boost, and Business Loan Builder plans are ideal for companies who would wish to monitor their business credit or while building up credit history.

Paid plans will make it easy for you to keep track of your credit score. Additionally, with a subscription to the Business plan, you will be able to access information that will come in handy if your application is rejected due to your credit report. You can easily have a look and see why you were rejected by simply following Nav’s guide to improving your credit health, and then you can successfully apply again in the future.

With all of their paid plans that start from $30 per month, you’ll get access to:

  • Full business credit reports and scores from Dun & Bradstreet, Experian, and Equifax.
  • Full personal credit reports and scores from Experian and TransUnion.
  • Disputing errors on business credit reports
  • Follow up to 5 other businesses’ credit reports
  • 24/7 business and personal credit alerts
  • $1M in identity theft protection, along with full-service identity restoration services
  • Lost wallet replacement coverage and restoration services

For those wanting an extra tradeline report, your payments for Nav Business Boost or Business Loan Builder accounts are reported to all three major credit bureaus on the same day each month. You’ll further get an alert when your Nav payment has been reported, as well as, another when it appears on each credit bureau report.

Pricing

Nav Business offers four main types of accounts;

To get a summary of your business and personal credit reports and scores, you can use the standard free account. Once you are ready to start tracking your company’s financial progress, building a credit profile, or setting some cash flow targets, you can then move on to the paid plans.

All four plans provide one-on-one access to the lending and credit experts, which brings a personal touch to your Nav Experience.

In addition to the credit reports from the three main credit bureaus, Nav’s paid plans will be able to monitor your credit and offer some assistance when disputing errors on business credit reports.

 Also, you get some push notifications and email alerts for 90 different credit changes and, $1 million identity theft insurance, and access to dedicated lost wallet replacement specialists.

Bottom Line

Nav has helped many businesses, both new and established with increasing their credit scores. They not only build up awareness of business and personal credit health but also enable you to keep it in check through online glances and mobile alerts.

The fact that you get full access to business credit reports from D&B, Experian, Equifax is well worth the membership alone, while the personal credit reports from Experian and Transunion are an excellent bonus. The same goes for the ability to dispute business credit report errors right from your Nav account.

When you add in the lost wallet protection and $1M in identity theft insurance along with access to free restoration services specialists, Nav simply blows their credit monitoring competition out of the water.

With the Nav Loan Builder plan ($50/mo) you can also access your combined FICO score. If you’re looking to work with alternative lenders, knowing your score will greatly help to ensure you get loan approval.

Leave a comment