FAQ

Here are answers to the questions that we get asked a lot, so take a look below, and if you have a new question, or need more information then please do get in contact at: support@credithq.co.uk.

How much is a subscription to CreditHQ?

The Basic subscription is a completely free service, providing access to over 7 million company records showing a company's easy to understand credit and payment indicator (the lower the number, the more unfavourable the company's finances), plus details such as company number, trading and registered addresses.

The Standard subscription costs £25 and provides a more detailed credit and payment indicator, as well as unlimited up-to-date financial information such as: net worth, assets, liabilities, sales, and details of adverse credit events; providing small businesses with invaluable financial information that gives insight into their real cash-flow position and awareness of potential upcoming problems for businesses that they deal with.

Not only can users access all of these data reports, but CreditHQ also provides alerting tools - weekly emails sent out to subscribers alerting customers to changes in the financial status of a company, such as a drop in credit rating or an increase in the length of payment receipt - ensuring CreditHQ users stay on top of their customers' and suppliers' financial status.

How do I...

If you need to know how to do something on CreditHQ, then the answers to these questions might help:

Search for a company?

There are a few different ways to search for companies. You can do this from the Homepage, or from the search box that is at the top of most pages. You can also search from your Dashboard if you are a registered user.

Watch this very short video to show you how:

Add a company to my Watch List?

Search for the company name or part of the company name in the search box. Click on the company from the search results to view the company page, then click on "add to watchlist" in the top right.

To view all of your saved companies, sign in to go to your dashboard and see your Watch List.

Watch this very short video to show you how:

Upgrade from Basic to Standard?

  • Sign in
  • Click on upgrade to select the Standard £25 subscription

To see all the new features that the Standard subscription unlocks, take a look at your dashboard

Watch this very short video to show you how:

How can I see where a company is located?

  • Search for company
  • Click on the 'view map' link next to the address displayed at the top of the page - the map will open in Google maps.

How can I update my credit card details so I can continue with my subscription?

Unfortunately this facility is not available yet, but we'll be happy to update your details over the phone. Please call us on 0845 6000 140.

Am I able to view an invoice for each payment I've made?

At present, invoices can't be displayed online but we can send you an invoice via email from our payment solutions system (Stripe). Please email us at support@credithq.co.uk to request an invoice or receipt.

Update my company details - name, address, phone number etc?

We aren't in a position to update this for you, because we get all our information from other sources. You can contact them directly via a form at www.dnb.co.uk/data-update. You should also update your details at Companies House

Remove my company page from CreditHQ?

We aren't in a position to update this for you, because we get all our information from other sources. Contact Companies House to start the process.

What should I do when...

If you need to know how to do something on CreditHQ, then the answers to these questions might help:

A company has a high risk payment indicator?

This means they are likely to pay very late, maybe 100 days after the expected payment date. As such, you should use this information to make a decision on whether you want to trade with them or not. If you do decide to trade with them then you will need to allow for this delay in your cash-flow, and perhaps offer them shorter payment terms than your other customers.

A company has a high risk credit indicator?

This means that the company is either suffering from financial difficulties, or that they haven't had the opportunity to build up a suitable credit rating because perhaps they are a new company or don't use any credit. Either way, you might not want to offer them any credit as the aim should be to get paid sooner rather than later, and if you have money owed by them, then you should prioritise this debt over others in case the financial difficulties get worse and they become unable to pay you.

A company has a low risk credit indicator?

This means that the company is in a good place financially and not likely to go out of business soon. There should be no worries about them paying their invoices, and there might be an opportunity to offer them favourable credit terms, if it helps build business with them and it is financially possible for you to do so.

My company has a high risk credit indicator?

There are many things you can do to improve your credit score:
Check your details - credit reference agencies and companies house can make mistakes, so check the information on your company page.
Pay your bills and file your accounts on time! - this can make a big difference to your score.
Manage your cash flow - make sure you get paid on time, check the companies who you do business with, so that you know when they are likely to pay, and forecast your cash flow.
Minimise your debt

For other tips on how to improve your credit score, then our blog has lots of good stuff: credithqnews.wordpress.com

My company has a high risk payment indicator?

To reduce your payment indicator risk, then pay your company's bills on time and make sure you file your accounts on time too.

The company I'm searching for is not on CreditHQ?

There are several reasons why the company you are looking for isn't turning up on CreditHQ:

  • The company hasn't yet been picked up and listed by Dun and Bradstreet (D&B). Limited companies take around two weeks to be indexed by D&B whilst non-limited companies can take up to one year to be listed. If the company you are searching for isn't trading (dormant), it could take even longer to get picked up by them.
  • Wrong name? Our search functions should pick up alternate spellings and a quick online search should determine if you are spelling this correctly. If you know the company number, you can search by this rather than just the name.
  • Non UK company - Foreign companies that are registered to trade in the UK will be listed on CreditHQ but ones that don't have a UK footprint won't be captured. For example, companies which don't have a UK trading footprint such as Amazon, won't turn up on the site.

What is...

Here are some definitions of terms used in CreditHQ:

A credit indicator

This is the latest credit indicator value, calculated from credit reference data. The value is in a range, with the lower the number the greater the risk of a company facing financial difficulties.
Colours are used to indicate high (red), medium (orange), or low (green) risk. If you know the level of risk then you are able to make decisions on when to chase debt, what credit terms you can offer this company, or how you can adjust should this company cease trading.
Upgrading to our Standard product will allow you to see a greater level of detail for this company so that you can identify not just if the company is a high risk, but also how close to going out of business they are.

A payment indicator

This is the latest payment performance indicator value, calculated from credit reference data. The value is in a range, with the lower the number the greater the risk of a company paying their bills late.
Colours are used to indicate high (red), medium (orange), or low (green) risk. If you know the likelihood of late payment then you are able to make decisions on whether to offer favourable payment or credit terms, or whether to request payment before you provide the goods or service.
Upgrading to our Standard product will allow you to see a greater level of detail for this company so that you can identify not just if the company is a high risk of late payment, but to what degree they pay late.

A county court judgment

You may get a county court judgment (CCJ) or high court judgment if someone takes court action against you (saying you owe them money) and you don't respond. For more information, go to www.gov.uk/county-court-judgments-ccj-for-debt/overview.
Judgments for monetary sums are entered on the statutory Register of Judgments, Orders and Fines, which is checked by credit reference agencies to assess credit worthiness.

A final warning letter

A final warning letter is the last step in your internal debt collection process. It shows all outstanding invoices and asks for payment. It also lets the customer know you will be passing the matter to a solicitor if they fail to make their payments.