Ways to Improve Your Overall Business Credit Profile

Are you an established business owner? Perhaps you are a new business owner trying to buildDepositphotos_8833077_xs a solid business credit history. There are many ways to improve your overall business credit profile. The following 6 tips will help you do this in a simple and straightforward manner.

1. Apply for your own business credit card.

When you apply for a business credit card, and use it regularly, this is a very simple way to begin building your credit history. Since it is easier to get a business credit card than it is to get approved for a business loan, this is what many business owners tend to do. Your business credit card can actually help you begin to build your overall business credit rating which will help you apply for a loan when the time comes. 

2. Maintaining high personal credit scores.

Having good personal credit standing is extremely important for a business. Whenever you apply for a business line of credit, or a loan for your business, the creditor will more than likely evaluate your personal credit rating as well as your business credit history. This is why having a personal high credit score is so important.

3. Pay your bill on time.

Just like building personal credit, prompt payment of your business credit card should also be done. Future creditors will see that you can handle your credit card debt responsibly. It really is the best proof that you can provide to any lender that you are trustworthy by making your payments on time.

4. Make sure your business credit profile is in order.

You should get in the habit of regularly checking your business credit report, specifically looking at all of your transactions to make sure that accurate information is representing you and your company. Sending a letter to Dun and Bradstreet, or any other business credit tracker which issues these types of reports, to get your current credit information can also help you stay on track.

5. Be sure that all relevant credit activities are recorded properly.

Once you are officially registered with the business credit tracker, this is the time to apply for business credit lines and other forms of credit. Remember that business credit bureaus are not actually consumer credit reporting agencies – this is very important to understand. Also keep in mind that many of the lending companies, as well as business-to-business vendors, may not provide a credit reporting service to some of the business credit bureaus out there. If your goal is to build a positive business credit history, all of your credit activities must be reported to a business credit tracker so that it is on official record.

6. You must register your business with a business credit tracker.

Dun & Bradstreet (D&B) is the leading business credit tracker in the United States. By going to the D&B, you can register for a number online at their website. Once the registration is complete, your D&B number will be sent to you in 30 days or less.

By following these unique tips on how to improve your business credit profile, you should be able to avoid excessive charges, and maintain your credit rating as you use your card to make purchases. As long as your business credit profile, and you keep track of your monthly expenditures, your credit rating should improve, especially if you continue to pay your bill off in full on time.

 

Get a credit card especially for your business! Click here

 

Elizabeth Roberts

Elizabeth Roberts

Liz Roberts and her team are continuously providing information to people who are ready to repair their credit and improve their credit score. Also NewHorizon.org team strives to empower the homebased and small business owners by bringing information that can help them to manage and grow their businesses. Let our 24+ years of business finance experience help you to get the financing you need! CONTACT US if need financing for your business.

5 Comments
  1. It is highly important to pay your bills on time because that alone will improve your credit rating. Great advice.

  2. Paying your bills on time and never spending more than what you have is the foundation to maintain a good credit rating.

  3. I have not thought of registering my business with a business credit checker. I must do that, excellent tips! A lot of what was said should be common sense.

  4. Even if you have a tendency of not paying your bills on time, if you are consistently 2 months late on your payments your credit score drops. Paying your bills on time is very important.

  5. If you are consistently late with your payments that dies have a negative impact in your score. Paying on time is crucial.

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NewHorizon.org is an independent, advertising supported website. The owner of the site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. NewHorizon.org has not reviewed all available credit card offers in the marketplace.

Privacy Policy Terms of Use

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