Page 149 - Winning The Credit Game Bundle (CK Patrick)

9. Don’t just spam business credit providers with
applications—applying for a new line of credit usually
results in your score losing a few points, so applying
too many lines of credit in a short span of time is a bad
idea. But by strategically applying for credit lines that
you are likely to qualify for, you can increase your
number of open accounts over time. The more credit
accounts you pay off on time each month, the faster
your credit score will rise.
10. That’s why I recommend that when you obtain a new
line of credit, you charge a small amount to that credit
line and pay it on time each month. This is easiest if
you set the credit card to autopay so that it will
automatically be paid off in full each month without
you having to manually remember to pay your bill.
11. Add positive trade references to your Dun and
Bradstreet account. Not all vendors, suppliers, or
business partners automatically report their
information to credit reporting agencies. Some
creditors often only report to bureaus when there’s a
problem, and that means these agencies might not
know about all the on-time payments you’ve made.
12. Fortunately, Dun and Bradstreet allows you to report
your own accounts, such as accounts with suppliers,
vendors, and business partners, for inclusion on their
report. In this way you can get credit for the on-time
payments you’re already making and improve your
Dun and Bradstreet Paydex score.
13. Keep personal and business finances separate. It can
sometimes be hard to adjust to using different
payment methods for personal vs. business expenses,
especially if you are used to paying your business
expenses out of your own pocket. But it’s essential that
you keep these finances separate for several reasons.
14. Mixing personal and business finances is a huge red fl
ag for the IRS. Using business funds for personal

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