Nav Credit Report
Nav (formerly Creditera) is your all-in-one source for a comprehensive look at your credit-business, personal, or otherwise. Gain insights and an in-depth analysis of your scores including the major factors that may be impacting them as well as personalized advice to improve your overall portfolio.
Nav's pages are very user friendly. You will find many easy-to-read charts and graphics that are designed to help you feel at ease. Many websites offer difficult to read metrics and analytics. You'll have no problem navigating your personalized site and handling all of your different accounts. In fact, Nav stands for navigation. They want to steer you from storms of bad finance to the sunny skies of good credit.
When you initially sign up you'll be directed to the interactive Scoreboard which presents your business and personal credit sores on one organized screen. You'll receive reports from Experian, Transunion and Dun & Bradstreet Credibility Corp. Also, see your business's FICO SBSS Score-frequently used by the SBA to pre-screen loan applicants for loans upwards of $350,000.
Then each time you log back into your account you'll be able to see whether your scores increased or decreased from the last time, helping you track your progress. In another attempt to keep you informed of your credit, Nav's monitoring service will alert you (email, text, mobile app) of any changes to an account, new inquiry, and more. Along the same lines, this company provides real-time identity protection monitoring and up to $1 million insurance coverage should you become a victim.
Pricing and Plans
Like any good credit reporting site, Nav offers different plans to choose from so that you can get the features that best fit you or your business.
Essential Plan – This is the only plan Nav offers strictly for personal credit reports. For $14.99 per month, you get instant access to credit reports and scores from both TransUnion and Experian, although it is mainly designed for small business owners. For instance, some of the features included are BusinessLauncher, a step-by-step guide to help you build your business credit; CreditSweeper, a tool that looks for errors in your credit reports and helps you resolve them; and CreditTarget, which helps you set up your financial goals and track them. Besides this, you can get your VantageScore, email and text alerts, live customer support, $1 million of insured identity theft protection and identity recovery services. Overall, Nav offers plenty of personal credit services geared towards the small business owners, at a good price.
Standard Plan – This plan is offered at no charge and lets you get letter grades for your personal and business credit scores from Experian and Transunion, as well as, summary credit reports giving you some detail into your credit. This plan doesn't offer much but it does give you an idea to help you out.
Premium Plan – For $29.99 per month, Nav provides personal and business credit scores from 4 bureaus, detailed credit reports, insight into the factors that are affecting your credit score, $1 million in insured identity theft protection and identity recovery services. This is pretty similar to the Essential Plan geared towards personal credit, with a few added features.
Premium Plus Plan – In addition to all of the features in the Premium Plan, this plan gives you personal and business credit scores from 5 bureaus, exclusive access to you FICO SBSS Business Credit Score, and a great little feature that lets you track the credit of up to 5 competitors or peers. This is especially useful for letting you figure out what rival businesses are doing and how to compete with them.
Education & Tools
If you're looking for tools to better educate yourself into how to be a better business owner or how to improve your credit, Nav offers a plethora of resources from which you will find very useful.
Business Loan Calculators – One of the coolest features on the site are the calculators for different kinds of APR. You can calculate rate for Invoice Financing, Kabbage, OnDeck, Merchant Cash Advance, and Term Loans. They even define all the keywords and financial terms you may not be familiar with. Nav works to ensure that you succeed and get the help you need as a business owner.
Resources – In addition to their business loan calculators, Nav has a variety of guides to help you better understand your business and your credit. Some of these articles include, "The Five Main Credit Scoring Factors," "Payment History and Your Credit Scores," and "How Credit Inquiries Affect Your Credit Scores."
Blog – Not only do you get guides from Nav, but you also get access to an up-to-date blog to keep you informed on the latest information. These include articles like, "Can Your Social Media Popularity Land You a Loan?" "Why Your Brick and Mortar Business Needs a Yelp Page," and "Small Business Financial Planning for 2016"
In addition to all the products, features and education that Nav supplies you with, they also have a practical marketplace for business owners. Are you looking for a credit card for a business account? Nav will show you which cards you qualify for based on your scores and what are the best choices. Are you looking for a business loan? Nav has customized offers for you and your business. If you don't qualify for a specific loan, Nav can present you with the minimum requirements, as well as, guides on how to improve your credit in order to qualify. Are you looking for online bookkeeping or help incorporating your business? Nav offers these features and more. It's in their interest to help you succeed.
Verdict - Very Good
The largest disadvantage with Nav is the fact that you don't see your Equifax Score. Also, many features appeal more to small businesses than individual consumers. Despite these facts, they still provide some fantastic offerings. Their score summary compares your personal scores with others to give you a better idea of where you stand in a grander scheme.