Page 20 - Everything You Need To Know About Personal and Business Credit by Adrean Yancy

Everything You Need To Know Abour Personal & Business Credit

How to Build and Maintain Good Business Credit

There is no gainsaying that having good business credit is very important to your
business. It can make or break your business's nancial muscle.

You want to have good personal credit and good business credit too. An outstanding
business report will strongly position your business to access nance. So, how do you
maintain good business credit? Well, below are some of the best ways to maintain
good business credit.

Always Pay on Time: This is the rst and
the most important rule of building and Never Ever Overuse
maintaining good business credit. We Credit: You must pay close
can't overemphasize how important this attention to credit
is. If you can, always try to pay ahead of overutilization. You do not

time. want to use over 30%
because doing so can make
Some business models reward you when your credit score decrease. A
you pay back your loan on time. For low credit score because of
example, Dun & Bradstreet award their overutilization gives o the
customers 80 points for timely payment. negative impression that
What's more, there are even higher
points if you pay in advance. Again, Dun & your business is struggling.
Bradstreet gives their customers a
perfect score of 100 if they pay a month
in advance.

Pro Hack: To avoid late payment, you
can set up autopay to ensure you do not
miss your payment deadline.

# 17