Page 162 - Winning The Credit Game Bundle (CK Patrick)

you have. This demonstrates that you have a lot of
“wiggle room”—a lot of credit you can take advantage
of if an emergency should ever interrupt your
business’s cash flow.
3. Pay your bill on time each month. Every on-time
payment you make counts favorably toward building
your credit score, while late payments can quickly
harm it. Build your business’s cash flow so that full
on-time payments are a matter of routine and watch
your business credit score grow.

HOW AND WHY TO MONITOR

If you do all the above each month, your credit score should
grow steadily and eventually become excellent. However, there
are a number of reasons it’s useful to monitor your business’s
credit reports regularly. These include:

Business credit reports don’t just report your credit
and payment history. As mentioned, some business
credit reports also report your overall revenue and
cash flow, your business’s “family tree” of related
businesses, and other factors related to your business.
All of these factors can be optimized, and all are
important to be aware of when planning to apply for
new credit.
Some of these factors, such as your business’s family
tree, may also change without your knowledge due to
the actions of your business partners or their affiliates,
and that is important to be aware of.
The potential for error. Whether it’s a credit bureau
reporting something incorrectly, fraud arising from a
malicious actor getting access to your company’s
business credit line, or an error with the submission or
processing of your monthly payment, it’s a good idea

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