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 Better Business Bureau now letter-grading companies

Now, in order to make the grade with the BBB companies must live up to a new ratings system that ranks their standing in the Bureau with letter grades.

 This move, close on the heels of the growing trend toward online consumer reviews and customer complaints, appears to be the BBB’s effort at bringing their system up to date with the type of feedback consumers are interested in. The old system (based on a simple ’satisfactory’ or ‘unsatisfactory’ rating) is slated to be replaced with letter ‘grades’ ranging from A+ to F. The formula used to determine a company’s overall grade is comprised of 16 weighted factors, including a business’s overall complaint history.

The new Better Business Bureau ratings system was tested in Los Angeles in 2008 and has already been implemented in some parts of the U.S.

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