Page 21 - Everything You Need To Know About Personal and Business Credit by Adrean Yancy
P. 21
Everything You Need To Know Abour Personal & Business Credit
Separate & Build your
Personal and Business
Credit: This is the best thing Make Sure your Account is
to do and the safest way to Reported: Trying to build a strong
maintain and build strong credit without having your vendors
business credit. On record, reporting to commercial credit
Equifax, Experian, and other agencies is synonymous with
agencies can incorporate wasted e ort. Ensure your
personal and business data business card issuer reports to all
into their scoring models. commercial credit agencies.
Experts suggest you should Pro Hack: Check your credit
not ignore one for the other. reports with the major credit
At the same time, do not mix report companies to see whether
the two. You should try your your account looks good as
possible best to build both if expected.
you can. Because as a new
business owner, your
business credit is still very Monitor your Credit Score: Only
fresh, so your personal credit when you do this will you know how
will be scored instead. much e ort you still need to build
and maintain a positive and strong
business credit score. More so, you
Whatever your personal will detect any discrepancies
credit score is, determine quickly and strategize on how to
how much loan you are come out on top of it.
quali ed for and the business
credit cards that will suit your
business. Get and Make Use of a Business
Credit Card: This card will be used
for everyday transactions such as
paying for utilities and other daily
purchases. Do you travel? If yes,
then using a business credit card
will help enhance your score.
Pro Hack: Steer clear of reaching your
credit limit as recommended above and
pay on time.
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