Tag: credit

Awesome – Get Fair Credit Business Credit Cards

The Absolute Best Fair Credit Business Credit Cards

We looked at a lot of fair credit business credit cards, and did the research for you. So here are our choices.

Per the SBA, company credit card limits are a whopping 10 – 100 times that of personal credit cards!

This demonstrates you can get a lot more cash with small business credit. And it also means you can have personal credit cards at retailers. So you would now have an extra card at the same shops for your company.

And you will not need collateral, cash flow, or financial data in order to get company credit.

Fair Credit Business Credit Cards: Advantages

Benefits can differ. So, make certain to select the perk you like from this variety of fair credit business credit cards and reasonable alternatives.

Fair Credit Business Credit Cards

Capital One® Spark® Classic for Business

For fair credit, we like the Capital One Spark Classic for Business. It has no yearly fee. There are cash-back rewards. The card earns an unlimited 1% cash back on all purchases. There is an annual fee of $0.

With this card, you will get benefits including an auto rental collision damage waiver, and purchase security. And you also get extended warranty coverage. And you get travel and emergency assistance services.

But BEAR IN MIND: the ongoing APR is 24.74% variable APR. And the penalty APR is even higher, 31.15%. Also, there is no sign-up bonus.

Get it here: https://www.capitalone.com/small-business/credit-cards/spark-classic/

Wells Fargo Business Secured Credit Card

For another choice in fair credit business credit cards, take a look at the Wells Fargo Business Secured Credit Card. It charges a $25 yearly fee per card (up to 10 employee cards). It also requires a minimum security deposit of $500 (up to $25,000) and it is designed to help cardholders establish or rebuild their credit.

Choose if you want to earn 1.5% per dollar in purchases with no limits or get one point for every dollar in purchases. You also earn 1,000 bonus points for every month your company makes $1,000 in purchases on the card.

Details

Also, you get free FICO scores every month. There are no foreign transaction fees. It is possible to upgrade to unsecured credit. Your account is regularly reviewed.

And you may become eligible for an upgrade to an unsecured card with responsible use over time. Approval is not guaranteed and depends on factors including how you manage this and your other accounts.

APR is the current prime rate plus 11.90%. There is no introductory APR period and no sign-up bonus. This is not a card for balance transfers.

Get it here: https://www.wellsfargo.com/biz/business-credit/credit-cards/secured-card/

Average Credit Business Credit Cards Credit Suite

Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

Credit Builder Company Credit Cards – Make Your Credit Surge!

Build your credit and you will end up no longer needing fair credit business credit cards.

Discover it® Student Cash Back

Be sure to check out the Discover it® Student Cash Back card. It has no annual fee. The credit card also offers a six-month introductory period of 0% APR on purchases. And there is an APR of 14.99 – 23.99% variable on all purchases after that period.

One one-of-a-kind feature is that it provides an incentive for students to maintain good grades with a $20 statement credit. If students earn a GPA of 3.0 or better each school year, the card will award the $20 statement credit each year for up to five years.

Details

Use this card to build personal credit. While this is a personal credit card versus a company card, for new credit users, their FICO scores will be important. And this credit card provides an excellent way to raise FICO while also getting rewards.

You can earn 5% cash back at different places each quarter such as grocery stores, gas stations, restaurants or Amazon.com up to the quarterly maximum. After that, this credit card offers unlimited 1% cash back on all purchases.

In the initial year, all cash back rewards are matched 100%.

Downsides include a cash advance fee of either $10 or 5% of the amount of each cash advance, whichever is more. And though they waive the first late payment fee, a fee of up to $37 applies on all other late payments. There is also a returned payment fee of up to $37.

Get it here: https://www.discover.com/credit-cards/cash-back/it-card.html

Reliable Low APR/Balance Transfers Business Credit Cards

Cards for transferring balances are another great alternative to fair credit business credit cards.

Discover it® Cash Back

Check out the Discover it® Cash Back card. There is a 10.99% introductory APR for six months from date of first transfer. So, this is for transfers under this offer which post to your account by January 10, 2019.

After the introductory APR expires, your APR will be 14.99% to 23.99%. So, this is based on your creditworthiness. Your APR will vary with the market, which is based upon the Prime Rate.

Details

You can get 5% cash back at different places every quarter. So, these are establishments like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs. But this is up to the quarterly maximum each time you activate. Plus, automatically get unlimited 1% cash back on all other purchases.

You will get an unlimited dollar-for-dollar match of all the cash back you have earned at the end of your first year, automatically.

Get it here: https://www.discover.com/credit-cards/cash-back/it-card.html

Company Credit Cards with 0% APR – Pay Absolutely Nothing!

Cards with 0% APR can make for a terrific alternative to fair credit business credit cards.

Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card

The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card has no annual fee and comes with a 0% introductory APR on purchases for the first nine months. Afterwards, the card has a 13.24 – 23.24% variable APR

Earn 3 points/dollar spent when you book travel with the Bank of America Travel Center and 1.5 points/dollar on all other purchases. You can earn unlimited points and points never expire.

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There is a 25,000-point sign-up bonus when you spend $1,000 in the initial 60 days of opening up the account. Cardholders get travel accident insurance, and lost luggage reimbursement.

They also get trip cancellation coverage, trip delay reimbursement and other perks.

There is no introductory rate for balance transfers. Also, bonus categories are limited.

Get it here: https://www.bankofamerica.com/smallbusiness/credit-cards/products/travel-rewards-business-credit-card/

JetBlue Plus Card

Have a look at the JetBlue Plus Card for an additional offer of a 0% introductory APR

Get six points/dollar on JetBlue purchases, two points/dollar at eateries and grocery stores. And get one point/dollar on all other purchases.

Details

Spend $1,000 in the initial 90 days and pay the annual fee, and get 40,000 bonus points. New cardholders receive a 12 month, 0% initial APR on balance transfers made within 45 days of account opening.

Afterwards, the variable APR on purchases and balance transfers is 17.99%, 21.99% or 26.99%, based upon creditworthiness. Benefits include a free first checked bag and 50% savings on in-flight purchases.

There is a $99 annual fee for this card.

Get it here: https://cards.barclaycardus.com/cards/jetblue-card/

Outstanding Business Credit Cards with No Annual Fee

Not paying an annual fee is always helpful. Cards with this feature are a great alternative to fair credit business credit cards.

Uber Visa Card

Check out the Uber Visa Card. Uber is the very first ride-sharing service to offer a credit card, in a partnership with Visa and Barclays.

The card provides 4% back per dollar spent at restaurants, takeout and bars, including UberEATS. Also, earn 3% back on hotel, airfare and vacation home rentals. And get 2% back on online purchases.

So, this includes retailers and subscription services like Uber and Netflix. And get 1% back on all other purchases. Each percent/point has a value of 1 cent. Redeem points for cash back, gift cards or Uber credits directly in the app.

By spending a minimum of $500 in the first 90 days, users can earn a $100 sign-up bonus. Cardholders spending a minimum of $5,000 annually are eligible to receive a $50 credit toward online subscription services.

Details

If you pay your cellphone bill with this card, you are insured up to $600 for cellphone damage or theft.

Cardholders are eligible for exclusive access to certain events and offers. Uber anticipates the majority of these offers to be available in major cities like New York, San Francisco, Los Angeles, Chicago and DC. There is no foreign transaction fee.

But there is no introductory rate. The APR is a variable 16.99%, 22.74% or 25.74%, based on your creditworthiness. Cardholders with less than stellar credit will be on the higher end of the range.

Also, there are restrictions on Uber credits. To redeem points as credits in the Uber app, accrue at least 500 points, or $5. Cardholders can convert a maximum of 50,000 points, or $500, in a given day.

Get it here: https://www.uber.com/c/uber-credit-card/

Costco Anywhere Visa® Business Card by Citi

Not taking Uber? Then you’ll need to fill your gas tank someway. Why not do so with the Costco Anywhere Visa® Business Card by Citi?

This card earns cash back with every purchase. Earn 4% cash back on the first $7,000 spent on eligible gas purchases annually (1% after that). Get 3% cash back at restaurants and on eligible travel purchases. Also, get 2% cash back at Costco and Costco.com. And earn 1% cash back on all other purchases.

Keep in mind: the $0 annual fee is only for Costco members. And an active Costco membership is required. Cardholders will get access to damage and theft purchase protection, extended warranty coverage and travel accident insurance.

Also, there is no sign-up bonus available with this card.

Get it here: https://www.citi.com/credit-cards/credit-card-details/citi.action?ID=Citi-costco-anywhere-visa-business-credit-card

Ink Business Cash℠ Credit Card

Look at the Ink Business Cash ℠ Credit Card. Companies can earn cash back with every single purchase. Spend $3,000 in the first three months from account opening. And you’ll earn a $500 bonus cash back.

There is a $0 yearly fee with a 0% introductory APR for 12 months on purchases and balance transfers. Afterwards, the APR is a 15.24 – 21.24% variable.

The card features travel and purchase coverage benefits. So, this includes an auto rental collision damage waiver and extended warranty protection.

Details

Earn extra cash back on business categories. So, these include office supply stores, telecommunications, gas stations and restaurants.

Note: this card has a balance transfer fee. Pay 5% of the amount transferred or $5, whichever is greater. Also, there is a foreign transaction fee of 3%.

Get it here: https://creditcards.chase.com/small-business-credit-cards/ink-cash

United MileagePlus Explorer Business Card

Get a good look at the United MileagePlus Explorer Business Card.

Earn 2 miles/dollar with United and at restaurants, filling stations and office supply stores. All other purchases get 1 mile/dollar. Earn a 50,000-mile sign-up bonus after spending $3,000 in the initial three months from account opening.

Benefits include priority boarding, a free first checked bag for you and a companion on the same reservation.

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Also, get two United Club passes annually. And get hotel and resort perks including upgrades. Additionally, get early check-in and late checkout. And get an auto rental collision damage waiver.

Also, get baggage delay insurance, lost luggage reimbursement, trip cancellation and interruption insurance. Finally, get trip delay reimbursement, purchase protection, price protection and concierge service.

After the first year, the card has an annual fee of $95. APR of 17.99% – 24.99%, based on creditworthiness.

Get it here: https://creditcards.chase.com/small-business-credit-cards/united-mileageplus-explorer-business

Average Credit Biz Credit Cards Credit Suite

Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

Starwood Preferred Guest® Business Credit Card from American Express

Another possibility is the Starwood Preferred Guest Business Credit Card from American Express.

This credit card is for those who stay at Starwood Preferred Guest and Marriott hotels often. Earn six points per dollar of eligible purchases at participating SPG and Marriott Rewards hotels.

And get four points per dollar at American restaurants, American gas stations, and on US purchases for shipping.

Also, earn four points to the dollar on wireless telephone services purchased directly from US service providers. For all other eligible purchases, earn two points per dollar.

Details

Get 75,000 bonus points when you spend $3,000 in the initial three months of account opening. Benefits include free in-room premium internet access, Sheraton Club lounge access, and purchase protection.

Plus you get car rental loss and damage insurance. And you get baggage insurance. There is also a global assistance hotline. And there is a roadside assistance hotline. And get travel accident insurance and extended warranty coverage.

The biggest issue is the annual fee. There is a $0 introductory annual fee for the first year, then it’s $95 after that. Plus there is no 0% introductory APR. Instead, there is a 17.74 – 26.74% variable APR

Get it here: https://www.americanexpress.com/us/credit-cards/business/business-credit-cards/spg-amex-starwood-credit-card

Terrific Cards for Cash Back

Capital One® Quicksilver® Card

Take a look at the Capital One® Quicksilver® Card. It offers flat-rate rewards of 1.5% on all purchases. There are no limits to the amount of cash back rewards which cardholders can earn. Also, the card has a $0 yearly fee.

New cardholders have a 0% APR on purchases and balance transfers for the first 15 months after opening the account. Then afterwards they have a 14.74 – 24.74% (variable) APR after that.

A cash bonus of $150 is available for those who make a minimum of $500 in purchases in 3 months of account opening.

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Also, cash back rewards do not expire for the life of the account. And there is no limit to how much you can earn.

This card also offers travel accident insurance. And you get an auto rental collision damage waiver. There are no foreign transaction fees. And there is extended warranty coverage.

Downsides are the flat reward rate, not allowing for any more than that. And the higher APR after the first 15 months.

Get it here: https://www.capitalone.com/credit-cards/quicksilver/

Average Credit Biz Credit Cards Credit Suite

Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

Small Business Credit Cards for Luxurious Travel Points

IHG ® Rewards Club Premier Credit Card

Take a look at the IHG ® Rewards Club Premier Credit Card. it earns hotel rewards worldwide. For each dollar spent at participating IHG hotels, get 10 points. Get two points per dollar spent at gas stations, grocery stores and restaurants.

Plus all other purchases earn one point. New cardholders can get an 80,000-point sign-up bonus when they spend $2,000 in the first three months of account opening.

Details

This card provides a free one-night hotel stay per year. Plus there is a variety of benefits like travel and purchase coverage and an upgrade to Platinum Elite status with the IHG Rewards Club. The club offers complimentary room upgrades when available and guaranteed room availability.

The most significant issue is that the card does not offer a zero percent APR introductory rate. And the standard APR is 17.99 – 24.99% variable. Also, the annual fee is $89.

Get it here: https://creditcards.chase.com/a1/ihg/premiernaep

Unbeatable Cards for Jackpot Rewards

Ink Business Preferred ℠ Credit Card

Get a look at the Ink Business Preferred Credit Card from Chase. Cardholders earn 3 points for every dollar spent on travel, shipping, internet, cable, phone and qualifying advertising with the card. So, this is up to $150,000 each year. And all other purchases earn an unlimited one point per dollar spent.

This is a Visa credit card.

Cardholders get benefits like purchase protection, trip cancellation or interruption insurance. They also get cellphone protection. And they get extended warranty coverage. And they get an auto rental collision damage waiver.

Details

Earn 80,000 bonus points when you spend $5,000 in the first 3 months from account opening. There is an annual fee of $95. You can add employee credit cards at no additional cost.

This credit card only offers 3 points per dollar to a limit of $150,000 a year. So, this is for travel, shipping, internet, cable, phone and qualifying advertising. All other purchases earn an unlimited flat rate of one point per dollar. And there is no introductory APR

Get it here: https://creditcards.chase.com/small-business-credit-cards/ink-business-preferred

The Best Fair Credit Business Credit Cards for You

Your absolute best fair credit business credit cards hinge on your credit history and scores.

Only you can select which features you want and need. So make sure to do your homework. What is excellent for you could be disastrous for somebody else.

And, as always, make sure to establish credit in the recommended order for the best, fastest benefits.

 

 

 

The post Awesome – Get Fair Credit Business Credit Cards appeared first on Credit Suite.

Residence Refinancing For People With Bad Credit – How To Avoid High Fees

House Refinancing For People With Bad Credit – How To Avoid High Fees

When house refinancing with poor credit report is as crucial as discovering reduced prices, staying clear of high costs. With costs amounting to hundreds of bucks, make certain that you are obtaining the very best offer by contrasting lending institutions. Look at various other kinds of credit scores to protecting cash money out funding.

Inquire About Closing Costs And Fees

Demand car loan prices quote that consist of details on closing prices and also costs. The APR will certainly consist of the rate of interest price, shutting prices, and also any kind of yearly charges.

Know costs or shutting expenses that are consisted of as component of the concept. These are frequently identified as “no down” finances, yet in truth you are spending for those costs throughout the funding.

With finance quotes, understand that also the charges are flexible. You can request for them to be gotten rid of or removed. Some charges, such as the very early settlement charge, are just eliminated if you pay an added quantity at closing.

Select Low Fee Terms

While you are looking into funding business, additionally have a look at exactly how they structure their finances. Typically the most affordable prices, such as rate of interest just or balloon repayment lendings, have the highest possible charges.

Select terms that are much more desirable for reduced charges, such as dealt with or flexible prices. Flexible prices are normally the most affordable setting you back financings with some danger of boosting future prices.

Various Other Ways To Cash Out Your Equity

Take into consideration using for various kinds of credit score to conserve on costs if you are just re-financing to pay out component of your equity. Bank loans as well as credit lines have a lot reduced closing prices than re-financing your overall home loan. They can likewise be held for a much shorter duration, which additionally conserves you cash.

While reduced charges might be your objective, be open to far better funding choices. By contrasting the APR, you might discover that ordinary charges can generate much better prices that will certainly conserve you cash. The longer you maintain your car loan, the more vital reduced prices will certainly be.

Preventing high costs when house refinancing with poor credit history is as crucial as discovering reduced prices. Demand finance prices quote that consist of details on closing expenses and also costs. The APR will certainly consist of the rate of interest price, shutting expenses, as well as any kind of yearly costs. Some costs, such as the very early settlement charge, are just eliminated if you pay an extra quantity at closing.

If you are just re-financing to pay out component of your equity, think about using for various kinds of debt to conserve on charges.

The post Residence Refinancing For People With Bad Credit – How To Avoid High Fees appeared first on ROI Credit Builders.

Haunted by Bad Personal Credit? You Can Get Business Credit with Bad Personal Credit

Bad personal credit doesn’t have to keep you from successfully starting and running a business.  Your business can build its own credit, known as business credit. You can get business credit with bad personal credit. There is a very specific process you have to follow however.  It isn’t hard, but it doesn’t happen on its own, either. You have to be intentional. We’ll show you how.

4 Rules for Surviving Business Credit with Bad Personal Credit: Don’t Let Bad Personal Credit Scare You Out of Business

You know that feeling you get when you are watching a spooky movie?  Even if everyone on the screen looks happy, you know that something bad is lurking just around the corner.  Trying to run a business with bad personal credit can feel the same way. Even if things are going well, you know that eventually you may need to borrow money. You also know that your bad personal credit score is going to choose that exact moment to jump out at you.  Just like that, the good times could be over. 

It doesn’t have to be a blood bath though.  There can be a happy ending. We are going to show you how to survive to the end, just like those characters that are still alive at the end of the movie.  It’s called business credit, and you can build business credit even with bad personal credit. Your past personal financial issues can’t stop you. Whatever point you are at in your business, now is the time to get started.  The enemy is lurking. It’s time to start fighting back.

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit.

Light the Fire to Forge Business Credit with Bad Personal Credit

The first that happens in any movie when a weapon is being forged is they light a fire.  Here is how you light the fire of business credit. You have to make your business appear to lenders as a fundable entity separate from yourself.  You want them to see your business on its own merits, separate from your personal credit history. 

Separating your business from yourself if the first essential step in building business credit with bad personal credit. It is easiest to do this when you set up your business initially, but it is never too late.  If you are already operating, do it now. Here’s how you start. 

The Rules of Surviving Business Credit with Bad Personal Credit

According to the popular 90s movie “Scream,” there are rules for surviving to the end of a scary movie.  For example, don’t drink or do drugs, and never say “I’ll be right back.” Those people are the first to die.   When it comes to separating your business from yourself for building business credit, even with bad personal credit, there are rules as well. 

First Rule of Getting Business Credit with Bad Personal Credit: You Have to Incorporate

Formal incorporation is non-negotiable.  If you operate as a sole proprietorship or a partnership, your personal credit will always find you.  It is not possible to have the separation you need to get business credit with bad personal credit without incorporating.  Not only that, but it will also help with liability protection.  

What is negotiable, however, is the form of incorporation you choose.  They all offer differing levels of protection, and the costs associated with each option varies.  For the purposes of building business credit, they all work the same. Choose the option that works best for your needs and budget. Here’s a little about each one.

business credit with bad personal Credit Suite2

Corporation

 This is the most expensive option, but it also offers the most protection from liability. There is a double taxation caveat with this option that is a turn off for most. Owners pay tax at both the business level and the shareholder level. In some cases, this is the best option anyway. 

 S-Corp 

S-Corps are very similar to corporations, but double taxation isn’t an issue. There are also limits on the number of shareholders allowed among other restrictions set forth by the IRS. 

 LLC 

An LLC, or a limited liability corporation, is the least expensive option. It still offers some liability protection, and has fewer restrictions than an S-corp. 

 Each of these options serves the purpose of further separating the business from the owner when you are looking to start a business credit profile. The option you choose should be the one that best suits your needs for tax purposes. 

The Second Rule of Getting Business Credit with Bad Personal Credit: You Must Have Separate Contact Information

Do not let your business share an address or a phone number with you.  Your personal address and telephone number are like a neon sign pointing to your personal credit.  That is exactly what you do not want.  

Even if you run your business out of your own home, it needs its own address.  You can accomplish this by using a virtual office address. Virtual offices operate almost exclusively online.  They offer a physical mailing address and at times, a host of other services such as receptionist options, meeting rooms, and video conferencing. 

You also need a dedicated business phone number.  You can either get a business landline, or there are a number of VoIP options available.  Some will even forward calls to your existing landline or cell phone so you do not even have to get a new phone.

Make sure your business information is listed in the business 411 directory.  You can do that here.

The Third Rule of Getting Business Credit with Bad Personal Credit: Get a Business Bank Account

This accomplishes a number of things.  First, it shows lenders that your business is serious enough to have its own account. Also, many vendors and lenders require a business bank account with a minimum balance before they will approve credit.  Lastly, a separate bank account for your business makes it much easier to keep business expenses separate from personal ones for tax purposes. 

The Fourth Rule of Getting Business Credit with Bad Personal Credit: Website and Email Address

There is so much to this.  First, you have to have both a website and an email address that are dedicated to your business.  If you don’t have an online presence in today’s world, do you even exist? It’s a question to consider.  Don’t let this be a question about your business. A strong online presence is important. 

Your website needs to be user friendly and professional.  If you aren’t someone who does this for a living, it is probably a really good idea to pay someone to design and launch your site.  Pay for hosting with someone like GoDaddy. Do not use a free hosting service. Make sure you get a business email address with the same URL as your website.  A free email service like Yahoo or Gmail will not work well.

 Check out our best webinar with its trustworthy list of seven vendors to help you build business credit.

It’s Not Over ‘Till It’s Over: Build Business Credit with Bad Personal Credit

You know that moment when you think the movie is over and everything is going to be okay, and then the  bad guy jumps into the frame and scares you to death. That’s where you are at this point. You can’t walk away and think everything is okay.  Make sure it is really over.  

Separating your business from yourself isn’t the whole game.  This is just how you protect your business. Once you have it separated, you can rest knowing that your business credit will reap the benefits of all your hard work and grow big and strong.  Your personal credit shouldn’t come into the picture much at all. 

However, you still have to do the work to get business credit with bad personal credit.  Even though it’s best to not run up the stairs in a scary movie, you have to climb a different type of staircase to get business credit.  We like to call these tiers instead of stairs. Credit tiers, if you will.  

Once you have your business set up as a separate, fundable entity, you can get accounts reporting to your business credit report. You have to do this without any credit though, because you do not yet have business credit, and your personal credit is bad.  How does that work? 

The Hero that Will Rescue You: The Vendor Credit Tier

The vendor credit tier is how you are going to begin to build business credit without your personal credit coming into play.  This tier is made of starter vendors that will offer net terms on invoices without a credit check. They will look at things like length of time in business, annual income, and the balance in your business bank account instead.

They will also report these payments to the business credit reporting agencies.  Once this happens, your business credit report will be open. Your score will begin to grow.  It takes 10 or more of these types of accounts reporting before your score will be strong enough for the next credit tier. 

The Other Credit Tiers: The Next Steps

After you have an initial credit score from using the vendor credit tier, you can move on to apply for cards in the other tiers. You have to do it in order.  First is the retail credit tier. These are cards that you can only use in the stores that issue them. For example, a Best Buy card can only be used at Best Buy.  An Office Depot card can only be used at Office Depot.

Once you have several of these reporting positive payment history, your score should be strong enough to apply for cards in the fleet credit tier.  These are cards from companies like WEX and Fuelman that you can only use for fuel or auto repair and maintenance. 

After you get enough accounts reporting from the fleet credit tier, it will be time for the top tier.  This is the cash credit tier. Here you find cards that are not limited by location or type of purchase.  You can use them wherever and for whatever. They typically have better rates, higher limits, and sometimes pretty great rewards.  

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit.

Keep an Eye on the Bad Guy

After you do the hard work of getting business credit with bad personal credit, you’ll want to keep your eyes open.  You never know when personal credit or some other bad guy may try to creep in and spoil the happy ending. This is one time when you for sure do not want a sequel.  This is where credit monitoring comes in.

Unlike your personal credit score, you can’t really get a free copy of your business credit report.  You can pay for copies however, and this isn’t a bad idea to do once a year. You want to make sure there are no mistakes, all information is up to date and only business accounts are being reported. 

We can help you monitor your business credit for a fraction of what you would pay the credit reporting agencies.  Go here to get started.

Survive to the End: It is Possible to have Strong Business Credit with Bad Personal Credit

Don’t let bad personal credit haunt your business.  You don’t have to be afraid if you follow the rules, just like in a scary movie.  To separate your business credit from your personal credit, you must: 

  • Incorporate
  • Have separate contact information for your business
  • Get a dedicated business bank account
  • Have a professional website and email address with the same URL as the website

If you do these things, the chances that your personal credit will find your business credit and cause trouble is greatly reduced. Your business can continue to thrive amidst any personal carnage.  Remember however, you must follow the rules. Business credit doesn’t build passively like personal credit does. You have to be intentional and build it on purpose, with purpose. Climb the credit tiers, and once you make it to the top, your business will be able to survive whatever comes its way.

 

The post Haunted by Bad Personal Credit? You Can Get Business Credit with Bad Personal Credit appeared first on Credit Suite.

How Long Does It Take to Establish Corporate Credit? Not as Long as You May Think

Finally! The Answer to “How Long Does It Take to Establish Corporate Credit?”

How long does it take to establish corporate credit?

The quick and dirty answer is, not long.  In fact, in just a few steps you can have a business credit profile ready to receive all your business account information and grow your business credit score.

However, often what people really mean when they ask the question “How long does it take to establish corporate credit?”is “How long does it take to build corporate credit?”  The answer to that question is quite different.  The process for establishing corporate credit initially is multi-step, but it doesn’t take all that long.  In contrast, the process for building corporate credit doesn’t have as many steps, but it can take substantially longer.  That is why it is important to start as soon as possible.

How Long Does It Take to Establish Corporate Credit from the Beginning?

If you start from square one, as your business it getting up and going, it will not take as long to establish corporate credit.  That’s because there won’t be anything to undo. The goal is to make your business appear fundable to lenders as an entity separate from yourself. It can be done at any point.  However, it is much easier and faster if you just start the process in the beginning. What’s the process?

How to Establish Corporate Credit

Establishing small business credit is a process. It is something that has to happen intentionally.  It does not happen passively in the same way personal credit does.  Once you have your business set up the right way however, the whole thing can happen pretty quickly.

You absolutely have to complete the steps in the right order.  Not doing so will result in repeated denials.  No one wants that.

Learn more here and get started toward building business credit attached to your company’s EIN and not your SSN.

How Long Does it Take to Establish Corporate Credit: Set Up Separate Contact Information for Your Business

Your business address, telephone number, fax number, and email address should all be separate from your personal ones.  Ensure your number is from a toll-free exchange and that it has a 411 listing.  You can take care of that here: http://www.listyourself.net.

Take note that your email address should not be through a free service such as Yahoo or Gmail.  Rather, it should have the same URL as your company website.  Can you guess the next point?  You need a professional website with paid hosting through a service such as GoDaddy. These days, if you don’t have a website you may as well not exist.  If you have a bad website, it’s even worse.  Just get it done right from the beginning.

In truth, when it comes to “How long does it take to establish corporate credit?”, the answer is however long it takes to get your website built professionally. The rest of the steps can be completed while that is going on.  Then, when your website is operational, you should have an established file and be ready to start building your business credit score.

How Long Does It Take to Establish Corporate Credit: Incorporate Your Business

The first thing you have to do after you have separate contact information is formally incorporate your business. The reason you need the contact information first is so that you can use it during the incorporation process.

Why incorporate?  If you are organized as a sole proprietorship or partnership, all business transactions are just going to hit your personal credit.  That is because there is no legal separation between you and your business. You are personally liable for all business debts.

You need to organize as a corporation, S-corp, or LLC.  Which one you choose will depend on the level of liability protection you need and how much you want to spend.  Any of them will serve the purpose of separating your business from you for the purpose of establishing business credit.

build biz credit Credit Suite2

How Long Does it Take to Establish Corporate Credit: Get the Digits

Next, there are two important identifying numbers you need to apply for.  The first is an EIN.  This is a number for your business similar to you personal SSN.  You can get one for free through the IRS website.

Next, you will need a D-U-N-S number.  This is also free, and you get it on the Dun & Bradstreet website.  You cannot have a credit file at Dun & Bradstreet without a D-U-N-S number.  Since they are the largest and most commonly used corporate credit reporting agency, you definitely need a D-U-N-S number.

How Long Does it Take to Establish Corporate Credit: Dedicated Bank Account

You also need a dedicated corporate bank account that you use only for business transactions.  This helps separate your business from yourself.  Not only that, it will also help keep business and personal expenses separate for tax purposes.

All of these steps can happen pretty fast.  Incorporation takes a little time, as does building a website. However, if you do it all on the front end you can speed the process along.  If you are taking these steps after your business is already up and running, it could slow things down a bit.

How Long Does It Take to Establish Corporate Credit, or How Long Does It Take to Build Corporate Credit?

The next steps in the process are geared toward building your corporate credit after your credit file is open.  The thing is, you have to get corporate accounts reporting to the corporate credit reporting agencies for your credit score to start building.  This can be tricky, as most lenders consider no credit to be equal to bad credit.  In the beginning of course, you have no credit.

If you do have credit already, but it’s bad, these steps can help improve it.  However, it will take longer. It is always faster to build from zero rather than from a negative number.

How Long Does It Take to Build Corporate Credit? Not as Long as It Would Without the Vendor Credit Tier

First you need to build trade lines that will report payments. This is also referred to as the vendor credit tier. These vendors will extend net 30 terms on invoices without a credit check.  Then they report your payments to the credit reporting agencies. This is how you get initial accounts reporting positive payment history.

Learn more here and get started toward building business credit attached to your company’s EIN and not your SSN.

Not all vendors are in the vendor credit tier.  Of those that are, there are a select few that are easier to get started with.  They can be used as stepping stones to gain more trade lines and thus, build your credit faster.  Here are a few of those easiest to get started with.

Uline

Uline is online at www.uline.com. They sell shipping, packing, and industrial supplies.  They report to D&B.

You have to have a D-U-N-S number. They ask for 2 references and a bank reference. The initial few orders may have to be prepaid to initially get approval for Net 30 terms.

Quill

Quill is another starter vendor. You can find them online at www.quill.com. They sell office, packaging, and cleaning supplies.  They also report to D&B as well as Experian.

Because Quill reports to two separate credit reporting agencies, you get two credit experiences with them. Place an initial order first unless the D&B score is already established.

Typically, they put you on a 90-day prepayment schedule. If you order items each month for 3 months, they commonly approve you for a Net 30 Account.

Grainger Industrial Supply

Grainger Industrial Supply is online at www.grainger.com. They sell safety equipment, plumbing supplies, and more.  They report to D&B. You must have a business license, EIN, and a D-U-N-S number.

For under a $1000 credit limit they approve almost anybody with a business license.

How Long Does it Take to Establish Corporate Credit: A Tip for Going Even Faster

One way to speed up the process is to ask vendors that you already work with if they will extend credit and report your payments.  This could even include utilities, rent payments, and telephone companies.  Internet providers are another option.  Since you are already making payments, you could instantly have several accounts reporting positive payment history without taking on any new debt.

Remember they are not required to report payments, but some will if asked.

After you have enough accounts reporting, its time to move on to the next credit tier.

Retail Credit Tier

Once there are 5 to 8 or more vendor trade accounts reporting to at least one of the CRAs, then you can apply for accounts in the retail credit tier. These are service providers which include Office Depot and Staples.

Fleet Credit Tier

Once there are enough accounts reporting from the retail credit tier you can begin to apply for accounts in the fleet credit tier. These are companies such as BP and Conoco. Use this credit to buy fuel, as well as to repair and maintain vehicles.

Cash Credit Tier

The next tier, the cash credit tier, is the goal.  One you have enough accounts reporting from the fleet credit tier, you can move on up to the cash credit tier. These are businesses such as Visa and MasterCard.

When applying for cards in any tier, only use your SSN and date of birth for verification purposes. For credit checks and guarantees, use your EIN instead.

How Long Does It Take to Establish Corporate Credit? Credit Monitoring

Know what is happening with your credit. Make certain it is being reported and take care of any errors as soon as possible. Get in the practice of taking a look at credit reports regularly.

We can help you monitor business credit at Experian and D&B for only $24/month. See: www.creditsuite.com/monitoring.

At D&B you can monitor at: www.dandb.com/credit-builder. At Experian, you can monitor your account at: www.smartbusinessreports.com/Landing/1217/. And at Equifax, you can monitor your account at: www.equifax.com/business/business-credit-monitor-small-business. Experian and Equifax cost about $19.99; D&B ranges from $49.99 to $99.99.

Learn more here and get started toward building business credit attached to your company’s EIN and not your SSN.

Update Your Information

Update your business contact information if you need to so that they have your correct, separate business phone number and address.  Incorrect information will only slow down your business credit efforts. At D&B, you can do this at: https://iupdate.dnb.com/iUpdate/viewiUpdateHome.htm. For Experian, go here: www.experian.com/small-business/business-credit-information.jsp.  Equifax updating can be found here: www.equifax.com/business/small-business.

Fix Your Business Credit

Mistakes on your credit report will also slow down the process. You can dispute any inaccuracies in your records. Mistakes in your credit report(s) can be corrected,but the CRAs often want you to dispute in a particular way.

Get your business’s PAYDEX report at: www.dnb.com/about-us/our-data.html. Get your company’s Experian report at: www.businesscreditfacts.com/pdp.aspx?pg=SearchForm. And get your Equifax business credit report at: www.equifax.com/business/credit-information.

How Do You Dispute

Disputing credit report mistakes usually means you mail a paper letter with duplicates of any evidence of payment with it. These are documents like receipts and cancelled checks. Never mail the original copies. Always send copies and retain the originals.

Fixing credit report inaccuracies also means you offer support for any charges you contest. Make your dispute letter as clear as possible. Be specific about the concerns with your report. Use certified mail to have proof that you mailed everything.

Dispute your or your company’s Equifax report by following the instructions here: www.equifax.com/small-business-faqs/#Dispute-FAQs.

You can dispute inaccuracies on your or your company’s Experian report by following the directions here: www.experian.com/small-business/business-credit-information.jsp.

And D&B’s PAYDEX Customer Service telephone number is here: www.dandb.com/glossary/paydex.

So How Long Does It Take to Establish Corporate Credit?

It’s hard to say.  If you are starting from scratch it won’t take as long.  You can get things headed the right way, right away.  You won’t be fighting an already bad score or trying to back track with incorporation and contact information.  Also, you will not be trying to correct mistakes on your report. If you are already up and running, it can take longer, but it still can be a relatively fast process.

Building your corporate credit will take substantially longer than getting the file established.  However, if you work the process the right way and handle the credit you get responsibly as it comes, it will not take as long as you may imagine.  It builds like a snowball and grows bigger, stronger, and faster as time goes on.

 

The post How Long Does It Take to Establish Corporate Credit? Not as Long as You May Think appeared first on Credit Suite.

Is a Sam’s Business Credit Card Good for Your Business?  It Depends

How and When a Sam’s Business Credit Card is a Good Option for Your Business It can be difficult to choose which business credit cards to use.  There are so many options, and they all have varying benefits.  It takes time and thought to figure out which ones will work best for your business and … Continue reading Is a Sam’s Business Credit Card Good for Your Business?  It Depends

Is a Sam’s Business Credit Card Good for Your Business?  It Depends

How and When a Sam’s Business Credit Card is a Good Option for Your Business

It can be difficult to choose which business credit cards to use.  There are so many options, and they all have varying benefits.  It takes time and thought to figure out which ones will work best for your business and its needs.  Where does the Sam’s Business Credit Card fall on the spectrum of being good for your business?

The answer to that question is widely dependent on a number of variables.  The first is, do you shop at Sam’s?  The card offers a lot of great benefits, but most are brand specific.  If you do most of the shopping for your business at Sam’s, then you are good to go.  However, if you do not shop at Sam’s a great deal already, it is likely not the best option.

Another question to ask yourself is, are you trying to build business credit?  If so, there are other options that will work better.  The Sam’s business credit card only reports to the personal credit reporting agencies (CRAs).  These include Experian, Equifax, and Transunion.

It can also help to compare the Sam’s Business credit card to other business credit cards.  To do that, you first have to know exactly what you are getting when you get a Sam’s credit card.

Check out how our reliable process will help your business get the best business credit cards.

What Does the Sam’s Business Credit Card Offer?

One of the biggest perks to the Sam’s Business credit card is the cash back.  You get 5% cash back on gas worldwide including at Sam’s Club.  This is capped at the first $6,000. After that you get 1%.  You also can earn 3% back on dining and travel and 1% on other purchases.

Another perk is that there is no annual fee, but you do have to have a membership to Sam’s Club.  The membership does have an annual fee.

There is a variable APR of 14.90% -22.90% and a 3% foreign technology fee.  The penalty APR goes up to 29.9% and is also variable. Late fees and returned payment fees are up to $39.99.

Here’s the thing, while the Sam’s Club card is probably not a bad thing to have if you shop at Sam’s often anyway, making the membership worth it, there are other options that work just as well or maybe even better depending on what you need.  There isn’t anything particularly fabulous about the rewards or interest rates with the Sam’s Club Business credit card.

What Are Some Alternatives to the Sam’s Business Credit Card?

There are hundreds of choices for business credit cards, and each one has its own pros and cons.  You have to do your own research to make the best decision for your business.  However, we have put together some information on some that we consider to be the best to get you started with your comparison to the Sam’s Business credit card.

Capital One® Quicksilver® Card

Take a look at the Capital One® Quicksilver® Card. It features flat-rate rewards of 1.5% on all purchases. There are no limits to the amount of cash back rewards that cardholders can attain. Also, the card has a $0 annual fee.

New cardholders have a 0% APR on purchases and balance transfers for the first 15 months after opening the account. After that, they have a 14.74 — 24.74% (variable) APR. A cash bonus of $150 is available for those who make a minimum of $500 on purchases within 3 months of opening an account.

Also, cash back rewards do not expire for the life of the account, with no limit to how much you can earn. A cash bonus of $150 is offered to cardholders who make a minimum of $500 in purchases within 3 months of account opening.

Drawbacks include the increase in interest rate after 15 months and the flat rate for rewards.

Sam’s Business Credit Card

JetBlue Plus Card

The JetBlue Plus Card also has a 0% introductory APR.  You can earn six points per dollar on JetBlue purchases, two points/dollar at eateries and grocery stores, and one point/dollar on all other purchases.

If you spend $1,000 in the first 90 days and pay the annual fee, you get 40,000 bonus points. New cardholders receive a 12 -month, 0% introductory APR on balance transfers made within 45 days of account opening.  After that, the variable APR on purchases and balance transfers is 17.99%, 21.99% or 26.99%, based on your credit score.  The annual fee is $99.

Capital One® Spark® Classic for Business

The Capital One Spark Classic for Business offers decent cash-back rewards as well. The card earns an unlimited 1% cash back on all purchases.  You also get benefits including an auto rental collision damage waiver and purchase security.

The ongoing APR is 24.74% variable, with the penalty APR even higher at 31.15%. Also, there is no sign-up bonus.

Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card

Earn 3 points per dollar spent when you book travel through the Bank of America Travel Center and 1.5 points per dollar on all other purchases. You can get unlimited points and points never expire.

There is a 25,000-point sign-up bonus when you spend $1,000 in the first 60 days of opening the account. The card has no annual fee and comes with a 0% introductory APR on purchases for the first nine months. After that, the card has a 13.24 — 23.24% variable APR. There is no introductory rate for balance transfers with this card, and bonus categories are limited.

Uber Visa Card

Did you know Uber has a credit card?  It’s the first ride-sharing service to offer such a thing.  The Uber Visa Card is in partnership with Visa and Barclays. It provides 4% back per dollar spent at restaurants, takeout and bars, including UberEATS. Also, get 3% back on hotel, airfare and vacation home rentals. You can even earn 2% back on online purchases.

This includes retailers and subscription services like Uber and Netflix. Cardholders earn 1% back on all other purchases. Each point has a value of 1 cent. You can redeem points for cash back, gift cards or Uber credits directly within the app.

By spending at least $500 in the initial 90 days, users can earn a $100 sign-up bonus. Cardholders spending at least $5,000 per year are eligible to receive a $50 credit toward online subscription services.

One major perk is if you pay your cellular phone bill with this card, you are insured up to $600 for cellphone damage or theft. Cardholders are also eligible for exclusive access to specific events and offers. Uber anticipates most of these offers to be available in major cities like New York, San Francisco, Los Angeles, Chicago and DC, so this benefit is more relevant if you live in or often visit these cities.

There is no foreign transaction fee, but there is also no introductory rate. The APR is a variable 16.99%, 22.74% or 25.74%, based on your creditworthiness. Cardholders with lower credit scores will be on the higher end of the range.

Also, there are restrictions on Uber credits. To redeem points as credits in the Uber app, accrue a minimum of 500 points, or $5. Cardholders can convert a maximum of 50,000 points, or $500, in a given day.

Costco Anywhere Visa® Business Card by Citi

You can’t truly do a comparison with Sam’s Business credit card without including the Costco counterpart.   The Costco Anywhere Visa® Business Card by Citi earns cash back with every purchase.

Get 4% cash back on the first $7,000 spent on eligible gas purchases annually (1% after that). Earn 3% cash back at restaurants and on eligible travel purchases.  In addition, you can get 2% cash back at Costco and Costco.com, and 1% cash back on all other purchases. There is no annual fee, but of course you must have a Costco membership.  There is no sign-up bonus.

Check out how our reliable process will help your business get the best business credit cards.

United MileagePlus Explorer Business Card

If you travel a lot and are interested in earning miles, look at the United MileagePlus Explorer Business Card. Earn 2 miles per dollar with United Airlines and at restaurants, gas stations and office supply stores. All other purchases earn 1 mile per dollar. There is a 50,000-mile sign-up bonus if you spend $3,000 in the first three months after account opening. Benefits include priority boarding, and a free first checked bag for you and a companion on the same reservation.

In addition, you get two United Club passes annually. There are also upgrade options and other perks at hotels and resorts.

After the first year, the card has an annual fee of $95 and an APR of 17.99% — 24.99%, based on creditworthiness.

Ink Business Cash℠ Credit Card

The Ink Business Cash ℠ Credit Card is also a viable option. Small businesses can earn cash back with every purchase. Spend $3,000 in the first three months from account opening and earn a $500 in bonus cash back. You can also earn additional cash back on business categories. So, these include office supply stores, telecommunications, gas stations and restaurants.

There is a $0 annual fee with a 0% introductory APR for 12 months on purchases and balance transfers. Afterwards, the APR is a 15.24 – 21.24% variable.

Capital One® Spark® Classic for Business

If your credit is just ok, Capital One Spark Classic for Business could be a good option. It has no annual fee, and there are even still cash-back rewards. The card earns an unlimited 1% cash back on all purchases. There is no annual fee.

There is no sign-up bonus, and the ongoing APR is 24.74% variable APR. The penalty APR is even higher at 31.15%.

Wells Fargo Business Secured Credit Card

If your credit is less than okay, consider the Wells Fargo Business Secured Credit Card. It charges a $25 yearly fee per card. It also requires a minimum security deposit of $500 (up to $25,000) and it is intended to help cardholders establish or rebuild their credit.

You can choose between 1.5% per dollar in purchases with no limits, or earning one point for every dollar in purchases. You also earn 1,000 bonus points for every month your company makes $1,000 in purchases on the card.

In addition, you get your FICO score for free each month so you can watch as your score improves.  They also regularly review accounts, and it is possible to upgrade to an unsecured card as your score improves.

APR is the current prime rate plus 11.90%. There is no introductory APR period and no sign-up bonus. Balance transfers are not an option either.

Check out how our reliable process will help your business get the best business credit cards.

Factors to Consider When Choosing a Credit Card

There are many factors to consider when determining which of these, or if some other card, is best for your business.  First, you have to take your credit score into account.  If your score isn’t very good, you will not have any many options.  Then, you need to consider what your goals are.  Do you want a card that earns lots of rewards, or do you want the best interest rate?

Lastly, consider your spending habits.  You need a card that will first, support your spending habits.  In addition, it would be nice if the perks offered reward your specific spending habits.

Is the Sam’s Business Credit Card Right for Your Business?

This is a fine card if you are already a Sam’s Club member.  The benefits are respectable, and the interest rates are comparable.  However, if you are not already a Sam’s Club member, it probably isn’t worth becoming one just to get this card.  There are a lot of other options available that are just as good, if not better, and that do not require a membership.  Look around and see what you can find that may better suit your needs.

Remember, if you are looking to build business credit, you will need to find business cards that report to the business credit reporting agencies.  These include Dun & Bradstreet, Experian Business, and Equifax Business.  The Sam’s Business credit card definitely does not do this.

The post Is a Sam’s Business Credit Card Good for Your Business?  It Depends appeared first on Credit Suite.

How to Increase Business Credit: 5 Simple Steps Every Entrepreneur Can Take

And How to Get Business Credit if You Don’t Already Have It

Business credit is a vital part of your life as an entrepreneur, even if you do not know it. The fact is, it is almost impossible to run a successful business without it.  Unfortunately, many business owners do not realize this until after their business credit is in shambles.  If this is you, then you need to know how to increase business credit.

While it isn’t easy, it also isn’t impossible to improve your business credit score.  Of course, the most obvious thing to do is to pay your bills on time.  That is most definitely part of it.  There are other steps you can take to raise your business credit score as well, however.

What is Business Credit?

Before you can really understand how to increase business credit, you have to understand what it is in the first place.  It is similar to personal credit.  However, it is credit in the name of your business rather than the name of the individual.  It is used as a predictor of the ability of the business to handle debt.

The beauty of this is, if you have business credit, your business transactions will not affect your personal credit.  Your personal credit score can be protected from any mishaps with your business.  It is important to know, however, that the reverse is not always true.  In some cases, your personal credit can affect your business credit.  Some business credit reporting agencies (CRAs) use information from your personal credit report to calculate your business credit score.

Share our foolproof business credit building checklist and tell your friends about how you’re building business credit the quick and easy way.

In addition, some lenders will check both your personal and your business credit.  This means that, while business credit is essential to running a business successfully, you shouldn’t ignore your personal credit score.  It is important to both your personal and business finances.

How Do You Get Business Credit?

Growing company credit is a process. It does not occur without effort. A company must actively work to establish small business credit. This is in direct contrast to how personal credit builds, often without your knowledge that it is even happening. You do have to work the steps of the process in order however.  If you do not already have business credit, here is how to start.

A small business must exist as its own entity separate from its owner, and it must be fundable to lending institutions and merchants. This means formally incorporating as a corporation, S-corp, or LLC.  It also means getting and EIN, which is like an SSN, but for your business.  They are free on the IRS website.

Then, you need to ensure your business has its own, dedicated email address, fax number, and telephone number.  Get a listing on 411 by going to http://listyourself.net.  List the business contact information with the business name. The phone number should be toll free.

As for the email address, it can’t be from a free email service like Yahoo or Gmail.  It needs to have the same URL as the company website.  Yes, your business needs a professional, well put together website.  Don’t use a free hosting service for this.  Use a paid service like GoDaddy.

A small business also needs a bank account devoted purely to it.  All business transactions should run through the business account.

You will also have to get a D-U-N-S number.  It’s free.  Start here.

How Do You Get Credit Without Credit?

Here’s the thing.  We all know not having credit is virtually the same to lenders as having bad credit. When it comes to business credit, there is a secret to get accounts reporting on your business credit file.  This secret is the vendor credit tier.  These are beginner trade lines that will extend invoices with net terms without even checking your credit.  Then they will report your payments on these invoices to the business credit reporting agencies.

In this way, your business credit score can start to build like a snowball.  As it grows, you will become eligible for credit from more and more companies.

You want 5 to 8 of these to move onto the next step, which is the retail credit tier. Who are these vendors?  How do you find them?  Here are a few of the easiest to get started with.

Uline

Uline is a true starter vendor that offers shipping, packing, and industrial supplies.  They report to D&B.

You have to have a D-U-N-S number, and they request 2 references and a bank reference. The initial few orders may need to be prepaid before you can get approval for Net 30 terms.

Quill

Quill is another option that is easy to get started with. They sell office, packaging, and cleaning supplies and report to D&B and Experian.

Because Quill reports to two separate credit reporting bureaus, you get two credit experiences with them. Place an initial order first unless the D&B score is already established.

Ordinarily they put you on a 90-day prepayment schedule. If you order items monthly for 3 months, they normally approve you for a Net 30 Account.

Grainger Industrial Supply

Grainger Industrial Supply sells safety equipment, plumbing supplies, and more.  They report to D&B. You need a business license, EIN, and a D-U-N-S number to get a net account with them.

For less than a $1000 credit limit they approve nearly anyone with a business license.

Retail Credit Tier

Once there are 8 or more accounts from the vendor credit tier reporting to at least one of the CRAs, the next step is to apply for credit from the retail credit tier. These are companies such as Office Depot and Staples.

Fleet Credit Tier

The fleet credit tier is next.  These are businesses like BP and Conoco. Use this credit to buy fuel, and to fix and maintain vehicles.

Cash Credit Tier

The final tier is the cash credit tier. These are companies such as Visa and MasterCard that are not attached to a specific store.

Share our foolproof business credit building checklist and tell your friends about how you’re building business credit the quick and easy way.

How to Increase Business Credit if You Already Have it

What if you already have a business credit score and it’s not good?  It’s easier to increase something when there is no negative information counteracting the positive.  What if you already have negative information on your business credit report.  Here is how to increase business credit in that case.

5 Steps for How to Increase Business Credit

1.      Add tradelines

Here is how you do that. You can use the starter vendors mentioned above, but if you already have established business credit, that isn’t the only way.  You can also ask the vendors you already have a relationship with about starting a credit relationship.  Ask if they will extend you credit based on the merits of the relationship you already have, and ask if they will report the payments.  Even if you only get one or two to do it, your credit score will only increase with the positive payment history being recorded.

2.      Ask to delete paid off collections.

Did you know that if you have an account that goes to collections, it will stay on your credit report even after you pay it off?  That’s right.  The negative hit stays on your report even if you pay off the account in full.  You can ask to have it removed however.  Be sure to do that.

3.      Ensure all information is correct and up to date.

Take the initiative to notify credit agencies of changes in address, phone number, email addresses, etc.  In addition, monitor your business credit reports so you can dispute any mistakes.

Update the details if there are errors or the information is incomplete. At D&B, you can do this at: https://iupdate.dnb.com/iUpdate/viewiUpdateHome.htm. For Experian, go here: www.experian.com/small-business/business-credit-information.jsp. So for Equifax, go here: www.equifax.com/business/small-business.

4.      Ask for an increase to your credit limit.

Your credit utilization ratio is the amount of debt you have in relation to the amount of credit you have available to you. If you are using a ton of your available credit, your ratio will be high.  The reverse is also true. When people ask themselves how to increase business credit, they often do not realize this.  Once they do see it, the next step is usually to add accounts in an effort to increase the amount of credit available.

However, this isn’t always the best option because the average age of all reporting accounts affects your credit score as well.  If you are adding new accounts, that average age decreases, which negatively affects your account.

Another option, which works much better, is to ask your current accounts to raise your credit limit.  This way, you have more available credit, decrease your credit utilization ratio, and leave your average age of accounts unaffected.

5.      Make payments on time!

Duh, right?  It’s true though.  The number one way to answer the question of how to increase business credit is to make consistent, on-time payments.  Here’s a bonus tip too.  If you find that you need to stop carrying so many balances and have the means to pay a little extra on minimums, pick the balance with the highest interest rate and put all of your extra onto that balance.  Once it is paid off, take the total payment amount and pay that amount extra on the balance with the next highest interest rate.  As you see your balances getting paid down, you will see your business credit score increase. You’ll save money on interest also, since you are paying off the highest interest rate balances first.

Watch It Rise

While you are putting all these tips for how to increase business credit into action, pay attention to what your credit score is doing.  If you are not seeing an increase, however gradual it may be, you need to figure out what it going on.

How do you do this?  Each of the main business credit reporting agencies offer the option to purchase your credit reports. It’s not cheap.

At D&B you can monitor at: www.dandb.com/credit-builder. At Experian, you can monitor your account at: www.smartbusinessreports.com/Landing/1217/. And at Equifax, you can monitor your account at: www.equifax.com/business/business-credit-monitor-small-business. Experian and Equifax cost about $19.99; D&B ranges from $49.99 to $99.99.

We can help you monitor business credit at Experian and D&B for 90% less than it would cost you at the CRAs. See: www.creditsuite.com/monitoring.

What If You Find a Mistake?

Mistakes in your credit report(s) can be taken care of, but the CRAs usually want you to dispute in a particular way.

Disputing credit report errors normally means you mail a paper letter along with duplicates of any proofs of payment. These are documents like receipts and cancelled checks. Never send the originals.

Fixing credit report inaccuracies also means you precisely spell out any charges you contest. Make your dispute letter as understandable as possible. Be specific about the problems with your report. Use certified mail to have proof that you sent in your dispute.

Share our foolproof business credit building checklist and tell your friends about how you’re building business credit the quick and easy way.

Dispute your or your company’s Equifax report by following the directions here: www.equifax.com/small-business-faqs/#Dispute-FAQs.

You can dispute mistakes on your or your company’s Experian report by following the directions here: www.experian.com/small-business/business-credit-information.jsp.

And D&B’s PAYDEX Customer Service telephone number is here: www.dandb.com/glossary/paydex.

Now you Know How to Increase Business Credit

If you don’t have a business credit score at all, you will have to start from scratch.  Establish your business as separate from yourself.  Start building a score with the trade account from the vendor credit tier, then watch your score rise as you work through the rest of the credit tiers.

If you have business credit already, but it’s not great, you can still increase it.  Make sure all your information is updated.  Work on your credit utilization ratio by asking current accounts to increase limits. Establish trade lines with those vendors you are already working with, and ask the reporting agencies to remove collections that have been paid off.

More than any of that however, make your payments on-time and consistently.  If you need to take a breath, regroup, and rebudget, do it.  Not paying your bills is the number one way to ruin your credit.  Conversely, making consistent, on-time payments is the number one way to increase your score.

The post How to Increase Business Credit: 5 Simple Steps Every Entrepreneur Can Take appeared first on Credit Suite.

Are There More Than 3 Business Credit Reporting Agencies?

There Are More than 3 Business Credit Reporting Agencies, but it All Comes Back to the Big Three

When most people think of business credit reporting agencies, they think if Dun & Bradstreet.  It’s true, the Dun & Bradstreet PAYDEX is one of the scores most commonly used by lenders.  In addition to D&B however, there is Experian and Equifax that are fairly commonly used.

Those aren’t the only three however.  The FICO SBSS score is gaining popularity in the business credit world as an option for business credit scoring.  There are actually a lot more business credit reporting agencies than that, but the one most commonly used outside of the big three of D & B, Experian, and Equifax, is the FICO SBSS.

Keep your business protected with our professional business credit monitoring.

Dun & Bradstreet is the Biggest of the Business Credit Reporting Agencies

There are six different Dun & Bradstreet reporting options, all measuring different areas of credit worthiness.   The most commonly used and simplest to understand is the PAYDEX.   Generally speaking, this is the most like the consumer FICO score.  It measures the speed of payment.  It ranges from 1 to 100.  A 70 or higher is “good.” For example, a score of 100 means that the company makes payments in advance, and a score of 1 indicates that they pay 120 days late, or more.

What Other Scores Does Dun & Bradstreet Offer?

In addition to the PAYDEX, these other reporting options are available                   .

●        Delinquency Predictor Score

The delinquency predictor score measures the likelihood the company will not pay, will be late paying, or will fall into bankruptcy.  The scale is 1 to 5, and a 2 is considered good.

●        Financial Stress Score

The financial stress score is a measurement of the pressure on a company’s balance sheet.  That is, it indicates the likelihood of a shutdown within a year.  It measures on a scale of 1 to 5,  with a minimum of 5 and a maximum of 1.  A business with a score of 2  is in good shape.

●        Supplier Evaluation Risk Rating

This rating ranks the odds of a company making it for the next 12 months.  The minimum score is 9 and the maximum is 1.  A company with a score of 5 is good is doing okay.

●        Credit Limit Recommendation

The credit limit recommendation shows a business’s borrowing capacity.  It is a dollar amount recommendation for how much debt a company can handle. Typically, it is used by creditors to determine how much credit to extend.

●        D&B Credit Rating

The credit rating is an estimation of overall business risk on a scale of 4 to 1.  A two is good.  It’s important to note, the rating is given in conjunction with letters.  The combination of the letters and numbers relay the company’s net worth.

Even if there isn’t enough information on a business to assign a regular rating, Dun and Bradstreet will assign what they call a Credit Appraisal Score.  Unlike a full credit score, this is based on number of employees. In addition, there is an alternative rating based on what data is actually available.

The letter portion of this rating cannot be assigned as good or bad since net worth is not necessarily an indicator of how stable a business is.

Keep your business protected with our professional business credit monitoring.

Experian Business Credit Score

Experian offers a number of different scores as well.  Lenders can choose to use any or all of them. Of course, each one tells them something different.  Consequently, it takes all the scores put together to get a complete credit picture from this business credit bureau.  Still, not all lenders look at all the scores that are available.

Intelliscore Plus

The Intelliscore Plus credit score shows credit risk based on statistics.  It is a highly predictive score.  As such, its main purpose is to assist users in making well informed credit decisions.

The Intelliscore scores range from 1 to 100.  The higher your score, the lower your risk class. The opposite is true as well, meaning the lower your score, the higher your risk class.

Score Range Risk Class

76 – 100 Low

51 – 752 Low – Medium

26 – 503 Medium

11 – 254 High – Medium

1 – 105 High

How Does Experian Business Credit Calculate the Intelliscore Plus Score?

One of the things Intelliscore is most known for is the identification of key factors that can indicate how likely a business is to pay their debt.  There are over 800 commercial and owner variables used to calculate an Intelliscore Plus credit score.  Here’s the breakdown:

●        Payment History

This is just your current payment status. It’s how many times accounts have become delinquent.  Additionally, It also shows how many accounts are currently delinquent, as well as your overall trade balance.

●        Frequency

This one shows how many times your accounts have been sent to collections.  It also notes the number of liens and judgments you may have.  Bankruptcies related to your business or personal accounts are included as well.

Frequency can also incorporate information regarding your payment patterns. Were you regularly slow or late with payment? Did you decrease the number of late payments over time? That affects your score.

●        Monetary

This specific factor focuses on how you make use of credit. For example, how much of your available credit are you using right now? Do you have a high ratio of late balances when compared with your credit limits?

Of course, if you are a new business owner, a lot of this information will not exist yet. Intelliscore Plus handles this by using a “blended model” to identify your score. That means that they take your personal consumer credit score into account when determining your business’s credit score.

The Experian Financial Stability Risk Score (FSR)

FSR predicts the potential of a business going bankrupt or not paying its debts.  The score identifies the highest risk businesses by making use of payment and public records. These records include all of the following and more.

  • high use of credit lines
  • severely late payments
  • tax liens
  • judgments
  • collection accounts
  • risk industries
  • length of time in business

business CRAs Credit Suite2

Experian’s Blended Score

This is a one-page report that provides a summary of the business and its owner.  A combined business-owner credit scoring model is more comprehensive than a business or consumer only model.  Blended scores have been found to outperform consumer or business alone by 10 – 20%.

Equifax is Another One of the Bigger Business Credit Reporting Agencies

Equifax shows three distinct business determinations on its business credit reports. These are the Equifax payment index, your business’s credit risk score, and its business failure score.

Similar to the PAYDEX score, Equifax’s payment index, which is a measurement on a scale of 100, shows how many of your small business’s payments were made on time. These include both data from creditors and vendors.

Equifax Credit Risk Score

Equifax’s credit risk score checks how likely it is that your company will become severely delinquent on payments. Scores range from 101 to 992, and they evaluate:

  • Available credit limit on revolving credit accounts, which includes credit cards
  • Your company’s size
  • Proof of any non-financial transactions (such as merchant invoices) which are late or were charged off for two or more billing cycles
  • Length of time since the opening of the earliest financial account

Equifax Business Failure Score

Lastly, Equifax’s business failure score takes a look at the risk of your business shutting down. It runs from 1,000 to 1,600. And it judges these factors:

  • Total balance to total current credit limit average utilization in the past three months
  • The amount of time since the opening of the oldest financial account
  • Your small business’s worst payment status on all trades in the last 24 months
  • Documentation of any non-financial transactions (such as merchant invoices) which are late or are on a charge off for two or more billing cycles

For the credit risk and the business failure scores, a rating of 0 means bankruptcy.

Equifax Scores

A good Equifax score for your business is as follows:

  • Payment Index 0 to 10
  • Credit Risk score 892 to 992
  • Business Failure score 1400 to 1600

Keep your business protected with our professional business credit monitoring.

FICO SBSS

The FICO SBSS, or FICO Liquid Credit Small Business Scoring Service, is the business version of your personal FICO credit score. It was becoming more and more common for lenders to use this score, rather than the Experian or even the D&B Paydex business credit score.

Unlike your personal FICO, the SBSS reports on a scale of 0 to 300. Of course, the higher the better.  However, most lenders require a score of at least 160.

There are few reasons lenders favor this score.  First, FICO uses business credit information from Dun & Bradstreet, Experian, and Equifax in their business credit score calculation.  Second,they also take into account personal credit score.  Lastly, they consider the lenders preferences for which factors are most important.

Why Rely on Other Credit Reporting Agencies, and How Do Lender Preferences Affect Your Score?

This is a huge difference from other business credit scoring models. The SBSS uses your business credit score from other business credit reporting agencies.  They also use your personal credit score and other financial information such as business assets and revenue. The big change however, is they let the lender decide how much each factor actually affects the score. It is a total global financial picture rolled into one score, and the lender gets to choose which factors have the most impact.

This means you almost always go  into a lender totally blind as to what your FICO SBSS credit score may be. Here is how it works.

How Lenders Get Your FICO SBSS Business Credit Score

  1. You turn in your application and all necessary financial documentation to the lender.

 

  1. The lender processes this information and sends it to FICO with a request for your SBSS score.

 

2.5. This is where it gets interesting. The lender can weight certain factors that make up your SBSS score. Your score can vary depending on how a lender weights each factor. For example, a lender can put more weight on your personal credit score or your business credit. It is their choice. This means your FICO SBSS can change from lender to lender even if you haven’t done anything to change it.

 

  1. FICO then searches business credit information from business credit agencies including D&B, Experian, and Equifax. Since these business credit reporting agencies have already scored the business side of things, the FICO SBSS just used the data from them for that piece of their calculation. If they cannot pull enough scoring information from one, they move on to the next. If there is not enough information from any of them, then it uses personal credit and business financials only.

 

  1. Using the lender’s weighting preferences, personal credit, business credit, and business financial data the system calculates the FICO SBSS score.

 

  1. You get either approval or denial based on your score.

SBA Credit Scoring

In 2012 the SBA began using credit scoring in the loan approval process. Since 2014, they have used it on all loans up to $350,000, not including the SBA Express and Export Express.

They use the FICO SBSS out of all the business credit reporting agencies for their scoring needs.  This is likely because by doing so, they get information from the other major business credit reporting agencies plus some.

The information they receive from FICO SBSS helps them to expedite credit decisions. In fact, overall statistics on the $60 billion-plus portfolio at the Small Business Administration show that those businesses with scores at or above the 140 cut-off have had very good payment history.

While the minimum required credit score is 140, the SBA usually will not approve applications until the borrower’s score is 160 or higher.  Some lenders would rather see even higher scores.  An ideal minimum is 180.

There Are More Than Three Business Credit Reporting Agencies

The truth is, there are definitely more than three business credit reporting agencies. The FICO SBSS is just one that many do not know about.  However, like many of the other business credit reporting agencies, they use information from the big three, D&B, Experian, and Equifax, in their calculations.   What does this mean for your business?  Pretty much regardless of which of the business credit reporting agencies your lender uses, the big three are likely still going to impact your score in some way. Also, it means you cannot ignore your personal credit score.  It can make a difference on your ability to get funding even when using your business credit.

 

The post Are There More Than 3 Business Credit Reporting Agencies? appeared first on Credit Suite.

Experian Business Credit Uncovered

The Top Secrets You Need to Know About Experian Business Credit

When talking about business credit, Dun & Bradstreet gets the most attention.  Experian and Equifax still carry plenty of weight however.  It would be dangerous to ignore them.  In fact, Experian has a few secrets you may not know about.  It’s time to bring those secrets to light.  Let’s uncover the mystery that is Experian business credit.

Experian keeps business credit profiles on 99.9% of all United States companies. In addition, it boasts the credit industry’s most broad data on small and mid-sized businesses. In fact, your business is probably already listed on Experian. The mystery is, what exactly does that mean?  What do they have on you, and where do they get their information?

According to Experian, all their information stems from third party sourcing. You cannot add anything to your profile. Of course, you can check your profile and let them know about any inaccuracies.  However, you cannot add anything to it.  As a result, you have to know what that report is telling lenders about you and your business.  You need to know where the information comes from, and what you can do about it.

Keep your business protected with our professional business credit monitoring.

What Makes Experian Business Credit Different?

The great thing about business credit is that it is separate from your personal credit.  Even if you have bad personal credit, you can still get financing for your business.  That is, if your business credit is in order.

Experian business credit plays a little differently however.  While your business credit score is still all its own, they add a business owner profile.  Experian’s Business Owner Link automatically connects the credit history of over 5 million business owners to their business credit history.

This makes it easier for your creditors to get access to your personal credit information.  In the eyes of the creditor, this is important for determining your overall creditworthiness.  If you are being turned down by lenders for business financing and your business credit is ok, that could by why.  Your personal credit history could be to blame.

What Do You Need to Know about Experian Business Credit Scores?

The first thing you need to know is this.  There isn’t just one score.  In contrast, there are a number of reports and scores.  Lenders can choose to use any or all of them. Each one tells them something different.  It takes all the scores put together to get a complete credit picture, but not all lenders look at all scores.

Intelliscore Plus

Quite simply, the Intelliscore Plus credit score shows credit risk based on statistics.  It is a highly predictive score.  As such, its main purpose is to assist users in making well informed credit decisions.

The Intelliscore scores range from 1 to 100.  The higher your score, the lower your risk class. The opposite is true as well. The lower your score, the higher your risk class.

Score Range Risk Class

76 — 100 Low

51 — 752 Low — Medium

26 — 503 Medium

11 — 254 High — Medium

1 — 105 High

How Does Experian Credit Calculate the Intelliscore Plus Score?

One of the things Intelliscore is most known for is the identification of key factors that can indicate how likely a business is to pay their debt.  There are over 800 commercial and owner variables used to calculate an Intelliscore Plus credit score.  They can be broken down like this:

  • Payment History

This is just your current payment status. It’s how many times accounts have become delinquent.  It also shows how many accounts are currently delinquent, as well as your overall trade balance.

  • Frequency

This one shows how many times your accounts have been sent to collections.  It also notes the number of liens and judgments you may have, as well as any bankruptcies related to your business or personal accounts.

Frequency can also incorporate information regarding your payment patterns. Were you regularly slow or late with payment? Did you decrease the number of late payments over time? That affects your score.

  • Monetary

Experian business credit Credit Suite2

This specific factor focuses on how you make use of credit. For example, how much of your available credit are you using right now? Do you have a high ratio of late balances when compared with your credit limits?

Of course, if you are a new business owner, a lot of this information will not exist yet. Intelliscore Plus handles this by using a “blended model” to identify your score. That means that they take your personal consumer credit score into account when determining your business’s credit score.

The Experian Financial Stability Risk Score (FSR)

FSR predicts the potential of a business going bankrupt or not paying its debts.  The score identifies the highest risk businesses by making use of payment and public records. These records include all of the following and more.

  • High use of credit lines
  • severely late payments
  • tax liens
  • judgments
  • collection accounts
  • risk industries
  • length of time in business

Experian’s Blended Score

This is a one-page report that provides a summary of the business and its owner.  A combined business-owner credit scoring model is more comprehensive than a business or consumer only model.  Blended scores have been found to outperform consumer or business alone by 10 – 20%.

Credit Monitoring with Experian Business Credit

Experian sells a number of products which can be used to monitor your business’s credit.

Business Credit Advantage Plan

This option is $149 per month and incorporates mobile-friendly alerts and score improvement recommendations.

Profile Plus Report

This report is $49.95 and includes in-depth financial payment details.  It also offers predictive information on payment behavior.

Credit Score Report

A cheaper option at $39.95, it contains details on the company, credit information, and a summary of financial payment information.

Keep your business protected with our professional business credit monitoring.

Valuation Report

This report costs $99. It presents the market value of your small business and features key performance indicators. It also displays your company’s fair market value.

Premium Corporate Profiles

Experian also sells premium corporate profiles. These are enhanced profiles that contain added information.  For instance, sales figures, size, contact details, products and operations, credit summary, any Uniform Commercial Code (UCC) filings will show up here.  This report also includes fictitious business names and payment and collections history.

You can also subscribe to business credit alerts through Experian’s Business Credit Advantage program.  This is a self-monitoring service that offers limitless access to your company’s business credit report and score. It allows business owners to proactively manage small business credit. Alerts are sent when:

– Company address changes

– Business credit score changes

– Credit inquiries show up

– Newly-opened credit tradelines are added

– Any USS filings open

– Collection filings open

– Any public record filings pop up.  This includes liens, bankruptcies, and judgments.

It’s important to note however, you can monitor your business credit reports at http://creditsuite.com/monitoring for much less than what you can with Experian directly.  This way, you can keep tabs on your information with Dun & Bradstreet at the same time.

How Can I Improve my Score with Experian Business Credit?

There it is, the big question. Once you uncover the mystery of the Experian credit score, then what?  You understand what it is.  You know how they arrive at it.  Still, how can you change it if it is affecting your ability to get financing for your business?  Are you just stuck?

The answer is no.  It isn’t really that simple though.  Changing a credit score doesn’t happen overnight. There are ways to give your score a little boost however.  Eventually that bad score will be a thing of the past.

Make Current Payments Consistently and On Time

As we just discussed, your payment patterns and history are vital to your overall credit score. Overtime, paying your bills promptly will only help you. If your score is low due to payment history, this will absolutely take time.  You have to start somewhere though, right?.

Correct Mistakes

Get a copy of your credit report from Experian and look over it for mistakes.  Send a request for correction in writing.  Be sure to send copies of supporting documents for each mistake that you find.

Watch the Debt-to-Credit Ratio

This is the amount of debt you have in relation to how much credit you have available.  Say you have $100,000 in available credit.  If your balance across all accounts is $99,000, that is a high debt-to-credit ratio.  This will negatively impact your score.  You have to use your credit, and you need to carry a balance.  Otherwise, how would you have payments being reported?  Just try to keep this ratio as low as possible.

Opening new accounts may help, as it will raise your available credit amount.  However, the average age of accounts also carries some weight, and new accounts lower that number.  You will have to find the balance.

Work with Starter Vendors

Working with starter vendors is a way to get more positive payment history recorded. As a result, your score will start going up.  Starter vendors are those vendors in the vendor credit tier.  They offer net 30 invoice terms and report payments to the business credit reporting agencies.  Often, they will even do this without a credit check.  Due to that fact, you can get an account with them despite having a bad credit score.  Note that not all starter vendors report to Experian, so you will need to ask.  Go here to find out more about starter vendors and the vendor credit tier.

Ask Non-Reporting Accounts to Report

Some accounts that you make regular payments on do not report to credit agencies.  They typically are not required to.  However, there is no harm is asking them to report your payments to Experian and the other agencies.  Those reporting payments can definitely improve your credit score.  Therefore, consider asking your landlord, utilities, and telephone companies to report the payments you make to them.

Don’t Forget About Your Personal Credit

While it’s true that personal credit and business credit are totally separate, we have shown that with Experian business credit, personal credit does carry some weight. As a result, be sure you stay on top of your personal expenses.  Avoid unneeded credit inquiries, and refrain from compromising your personal credit for business demands.

Keep your business protected with our professional business credit monitoring.

Now You Know the Secrets

What’s the greatest secret we’ve uncovered here?  There are really two.  First, Dun & Bradstreet is not the only player in the business credit game. While they may be the largest and most commonly used business credit reporting agency, there is nothing to prevent lenders from using a different one.  Many lenders use Experian.

The second secret uncovered is that your personal credit information definitely counts for something.  At least, this is true with Experian business credit.  When lenders pull a business credit report from Experian, they have access to the owner’s information as well.  Due to this, if your personal credit is good, it can only help you. In contrast, bad personal could haunt you despite good business credit.

Experian Business Credit Uncovered: What Now?

The moral of the story?  Everything counts.  Don’t sacrifice your personal credit to build business credit. Rather, keep them both as positive as possible.  Most “tricks” don’t work.  There is no substitute for using credit wisely.  Purchase only things you need. Take on only what payments you can handle, and make payments on-time. Remember also, they have access to other information.  That could either help you, or harm you.  Start now being aware of what is out there on your business, and work hard to balance out any negative information with positive actions.

There is no time like now to start.  First, figure out what is on your report.  Take a look at your personal credit report as well.  You can get a free copy of it each year.  Take a look and be sure to report any inaccuracies on it.  Once you have a solid understanding of what your Experian report says, and where that information came from, you can form a plan.  If things do not look good, make the necessary changes.  Pay on time, do business with starter vendors, and ask non-reporting accounts to report.  However, if everything looks fine, continue as you are and keep it that way.  After all, you must be doing something right.

 

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Recognizing Student Credit Card Basics

Recognizing Student Credit Card Basics Usually, these cards are indicated to be credit history cards for university trainees, although they can be made use of with high college trainees. To much better recognize what trainee credit report cards are all around, it is valuable to take an appearance at trainee credit score card essentials. That …