Small Business News
Chase Adds Business Credit Journey Features to Digital Hub
Chase is bringing some new tools to small business customers to help them better understand their business credit.
About the New Chase for Business Tools:
This week, Chase introduced Business Credit Journey. The new, free tool not only allows small business customers to monitor their credit but also to strengthen it as well. Credit Journey’s launch comes as a Chase survey of small business owners found that less than half have checked their business credit score.
With this new feature, businesses will have access to two business credit scores from Dun & Bradstreet. This includes the Dun & Bradstreet Small Business Financial Exchange Score and the Dun & Bradstreet Delinquency Predictor Score. Customers can also opt in to receive email notifications when their scores change. Moreover, these alerts include insights into why changes may have occurred.
Elsewhere, customers can dive deeper into how business credit works with educational guides. These resources include how to establish and improve business credit, key factors that creditors look at, and more.
Note that enrollment in Business Credit Journey does not require a hard pull and will not impact scores. The tool can be found in the Chase for Business mobile app or online.
In other Chase for Business news, the bank is expanding its Customer Insights tools. These first launched for Chase Payment Solutions clients in 2021 before reaching business checking customers in 2024. Now, the feature will be available to small business credit cardholders as well.
With Customer Insights, Chase small business clients can track sales trends, view demographic information, explore purchase behavior, and more. There is no extra cost for these tools, and they are now available within the Chase for Business app and online.
What They’re Saying:
Discussing the launch of these new tools, Chase for Business head of product Jameson Troutman said, “Small business owners are making important decisions every day, and innovation should deliver practical solutions — not just new features. With Business Credit Journey and other tools in Chase for Business mobile and online, we’re giving owners clearer visibility into their business so they can plan ahead, respond to change, and grow with confidence.”
Additionally, Chase Small Business Card GM Jenny Shum stated, “Customer Insights is an innovative solution that helps businesses run more efficiently and make smarter, data-driven decisions using insights they haven’t had access to before. We’re committed to delivering the value and expertise small businesses need to invest and grow their business, beyond our business card’s rich rewards, purchasing power and payment flexibility.”
My Thoughts:
I can imagine that a lot of small business owners aren’t nearly as familiar with their business credit as they are with their personal credit. Therefore, I think these new tools from Chase could be truly beneficial. Furthermore, just as access to consumer credit insights has grown tremendously in the past decade, I suspect we’ll see a similar trend in business credit going forward. So, kudos to Chase for getting on board.
Author
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