For Consumers: Why should I file a complaint? BBB complaint service is a free dispute resolution service to consumers. BBB acts as a neutral third party to assist both the consumer and the business with their communication, in the hopes a mutually acceptable resolution can be reached.
Where the money comes from: A self-proclaimed source of mediation and unbiased ratings of millions of businesses across the country, the BBB receives the majority of its revenue from membership fees paid by hundreds of thousands of companies. Others hire outside sales firms to aggressively pitch BBB membership.
As it stands, only two U.S. corporations have a AAA rating as of February 2020: Microsoft (MSFT) and Johnson & Johnson (JNJ).4? This means the chance of default these two companies have compared to the U.S. government is lower.
Canada, Netherlands, Sweden, Finland, Denmark, Australia have all regained S&P 'AAA' ratings after losing them at various points, though no country has even regained one stripped by Fitch. With the fall in the number of 'AAA' sovereigns, their collective shares of global government debt and GDP have declined as well.
A+ /A1 refers to two ratings issued to long-term bonds and bond issuers by the competing credit rating agencies Standard & Poor's (S&P) and Moody's respectively. They signify that bonds are of high-quality and have many positive qualities, but do carry a slightly higher degree of long-term investment risk.
NOTE: BBB ratings are subject to change at any time based on changes in a business' BBB file. You can improve your rating by providing the BBB with your business' background information online.
BBB-rated bonds are typically the most vulnerable of all investment-grade debt in a recession. Any downgrade of such bonds would relegate them from the investment-grade universe to the high yield universe (making them “fallen angels”), which would negatively re-rate their value.
When businesses lose their accreditation, it generally means that they simply decided to stop paying their bill. The BBB does not engage in any sort of process to protect consumers or their interests, they earn their money by essentially protecting businesses from consumer complaints.
Better Business Bureau
| FTE Range | Annual Fee |
|---|
| 21 - 40 | $1,061 |
| 41 - 100 | $1,624 |
| 101 - 200 | $2,547 |
| 201 - 1000 | $3,386 |
It isn't a government organization and they don't have any legal authority. The BBB is composed of 112 individual regional bureaus, all of which are independently operated and funded through accreditation fees. They determine BBB policy and standards, but they don't directly manage the regional groups.
Better Business Bureau
| Number of Employees | Accreditation Fee | App Fee |
|---|
| 101-200 | $680.00 | $75.00 |
| 51-100 | $635.00 | $75.00 |
| 26-50 | $560.00 | $75.00 |
| 11-25 | $435.00 | $75.00 |
Look for specific things on the company's website that may give away whether or not they are truly legitimate.
- Check spelling and grammar.
- Check for a business address and landline number.
- Check for a Privacy Policy.
- Check for a company number.
- Check the WHOIS database.
When you become accredited by the Better Business Bureau, you show that your company supports the BBB's efforts to promote truth in advertising and integrity in business. Your BBB Accreditation permits the BBB to offer your customers and community important dispute resolution and inquiry services.
If you are here to cancel your regular BBB membership, you need to contact your local chapter (by phone or written letter). You can find your local BBB chapter at this link: bbb.org/bbb-directory.
Better Business Bureau®For companies over 501 employees, Accreditation is $1,560.00 plus $1.00 additional for each employee over 500.
Ultimately, it's important to remember that the BBB is not a government agency, and it can't shut down businesses or force them to take any particular action. Filing a complaint or negative review against a business with the BBB is not equivalent to reporting the business to a government or regulatory authority.
Because the BBB archives information about businesses, unanswered complaints are considered unflattering by consumers. Therefore, it is advisable that companies deal with complaints to keep their business records clear and so that it doesn't dissuade future potential customers.
The BBB won't process anonymous complaints, so you'll be required to provide your contact information in any complaint you file with them. Additionally, BBB complaints must include the company's name and enough information to forward the complaint to the company.
