Eight Steps: How to establish business credit Put your business on the map Maintain good credit with suppliers and vendors Obtain an employer identification number (EIN) Pay on time all the time Open a business credit card Get incorporated Separate business and personal expenses Monitor your credit Figuring out how to access business financing and credit is […]
As a business owner, it’s important to understand the difference between your personal credit score and your business credit score. Personal credit is what you build by showing trustworthiness when it comes to paying your bills on time and in full, from credit cards to automobile loans to home loans. Doing so increases your credit […]
Make payment on time Payment history is key when it comes to establishing a good credit score, a recent late payment can cause as much as a 90-110-point drop on a FICO score or 780 or higher. To avoid drops it’s a good idea to set up auto pay on all your payments so you […]