Pinnacle Furnished Suites uses an empirically derived, statistically sound, credit scoring system to evaluate your corporate credit report. Credit scoring is based on real data and statistics, so it treats all applicants objectively. Your corporate credit report contains information about the credit experiences of the Company, such as your bill payment history, the number and type of accounts, late payments, collection actions, outstanding debt, and the age of your accounts. Using Experian Business Credit Information, we receive a recommendation (score) after this service compares this information to the credit trends of other Companies to predict how likely it is that you will pay your rent in a timely manner and fulfill your lease obligations. Based upon this recommendation (score) and the results of reference checks, your Corporate Credit Application will be accepted or rejected.
The following is the criteria that will be used by Experian Business Credit:
- Experian Business Credit Score 50‐100, Approved
- Experian Business Credit Score 30‐49, Approved with conditions or declined
- Experian Business Credit Score 0‐29, Declined
Regardless of the score reported for the Company by Experian, if the Experian Business Credit Report has no credit lines reporting, the application is still pending.
If the application is approved after satisfactory reference checks, Company may be required to pay 1 or more months rent in advance of move in.
In addition, if any of the following conditions appear on the Experian Business Credit Score (regardless of the score) the Corporate Credit Application will be declined:
- Any collections or judgments that are apartment related
- If Experian cannot find a credit report matching the information provided by Company
- Any bankruptcy in the last 24 months Any additional judgment tax liens or collection may result in an approval with conditions regardless of the score.
Any additional judgment tax liens or collection may result in an approval with conditions regardless of the score.