70 Best Guidelines, Tips, and Tricks to Boost Up the Credit Score of your Business

It is essential for your business to have a decent business credit score. Firstly, it will aid you in getting a loan for your business as and when the need be. Secondly, a good credit score will lead to low rates on insurance and loan interest. Thirdly, it will help you in segregating your personal and business credit scores. And finally, a good credit score will augment the reputation of your business.

Some Quick Tips to Boost Up Your Business Credit Score

If you think that boosting up your business credit score is tough, then you are wrong. Below are the best 70 tips that will improve your credit score fast. Take a look,

1. Track Your Score; there are some ways through which you can track your score namely,

• Check whether your credit card company provides a free credit card monitoring
• Pay a minimal fee to a credit bureau to access your credit score
• Sign up for a service which will check your credit thereby allowing you in tracking your score.

2. Distinction Between Credit Report and Credit Score. Knowing the difference between the two is crucial. The credit score can be improved with time while the credit report is a document which holds enough financial information. Akin to the credit score you cannot improve the credit report in the same manner. There should be no errors on the credit report.
3. Read the Credit Report. While reading the credit report check the following- ensure that your personal information and contact is accurate, recognize every account, check the payment history and balance, the credit inquiry must be correct, and the public records must be right.
4. Understand What is Written on the Credit Report. The credit report has 4 vital information that you need to understand- your personal information, your trade lines, credit inquiries, and public records.
5. Request the Three Credit Reports. Request for the three credit reports-TransUnion, Equifax, and Experian.
6. Collect the Free Credit Report. Search for that free service through which you can check the credit report each year.
7. Monitor the Credit, always remember good credit also demands to monitor.
8. Take Wise Financial Decisions
9. Stop worrying and obsessing
10. Keep your credit under control
11. Keep reminders for payment
12. Keep a list of every credit account
13. Check your dispute status
14. Along with informing the bank or credit company, it is also important to notify the credit bureau
15. Inform the credit company
16. Select the Credit Score Tracker
17. Discover which class you fall into
18. Know the different score categories- exceptional credit, outstanding credit, good credit, fair credit, and poor credit.
19. Learn about the FICO scores
20. Know about the method used for calculating the FICO score
21. Begin with the smallest debts and move to the largest
22. Handle the debt smartly
23. Check the total credit that you have
24. Discover the total amount that you owe
25. Make the payments on time
26. Contact collections
27. Steer Clear payoffs or charge-offs
28. Get in touch with your creditors
29. Get current when it comes to your payments
30. Schedule for an automatic payment
31. Mix up the credit
32. Build a strong credit
33. Limit the credit amount
34. Choose a secured credit card
35. Look for a starter card
36. Gather some credit
37. Pay your debt strategically
38. Clear the rates of interest that is the highest
39. Pay through found money
40. Pay more than one time per month
41. Pick the most appropriate card
42. Create a balance between high balances and credit limits
43. Know when you should transfer the balances
44. Learn to negotiate
45. Understand your balances
46. Open the credit account carefully
47. Build the credit limit gradually
48. Keep balances low
49. Keep the lines of credit open
50. Upgrade your card
51. Understand the fees and costs offered by the credit repair company
52. Know when you should hire the services of a law firm
53. Choose the credit repair company carefully
54. Discover the role that the credit repair company plays
55. Always hire the right company
56. Understand the ratio of debt to credit
57. Balance the ratio of credit utilization
58. Do not close the old cards
59. Control your spending habits
60. Request for an increase in the credit limit
61. Select the best credit monitoring plan
62. Check your credit from time to time
63. Clear payments on time
64. Do not let the balance go out of control
65. Check the report annually
66. Limit the credit inquiries
67. Monitor your progress
68. Keep in touch with the credit repair company
69. Initiate the process
70. Know the timeline

So, now you are well aware of the 70 best guidelines, tips and tricks that will help a great deal to improve the credit score of your business.