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Building Personal Credit and Business Credit: 4 Stages of Credit Ability

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Personal Credit and Business Credit

How is your credit-ability?

Do you know what types of credit and funding are available to you based on your personal credit and/or business credit profiles? personal credit and business credit

In this post, we are going to put the puzzle pieces together and show you how to determine what stage of credit ability you are at, what funding vehicles are available at each stage, and how to maximize the credit building process both personally and for business.

One of the most important things I want you to take away from this post is to understand that your credit scores for both personal credit and business credit are not the only factors that banks and lenders look at.
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Before You Get a Business Credit Card Know These 5 Factors

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Get a Business Credit Card

Should you get a business credit card?get a business credit card

Did you know using a personal credit card for your business and putting personal expenses on it is a formula for a bookkeeping disaster?

Unfortunately, statistics show that of the 65% of small businesses using credit cards, only 50% of those cards are in the company’s name.

When it comes to keeping personal and business expenses separate, using a business credit card is by far one of the best tools. “There are plenty of benefits to using a business credit card versus a personal credit card for your small business,” says Alison Rouse, a spokeswoman for Capital One. “You’ll also have access to business-specific benefits, such as employee cards and spending controls, and specialty services tailored to meet small businesses’ needs.”
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5 Best Business Credit Building Hacks For Maximum Results

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Best Business Credit Building

I’m sure you’ve heard all the same old business credit building tips time and time again. Start with establishing several vendor accounts first; make several purchases; and always pay your invoices on time. We know these rules, and we know there’s much more to it in the real world. best business credit building

While there is a great deal of tips and information on building business credit on the internet, you may discover that most of the information is either outdated, over simplified or just plain wrong. Now don’t get me wrong, there are lots of good resources (here and elsewhere) that you should read up on before you take action.

Once you’ve got the basics down, here are the best tricks that can help you improve the business credit building process and work your way up into a strong business credit file much faster:

Leverage your personal credit to your company’s advantage

During the initial stage of the business credit building process you’ve probably read that getting vendor credit is the best way to start building your company’s credit file. While starter vendors will certainly get you payment experiences reporting on your file the one trick that can also drastically enhance your company’s credit file immediately is also having revolving lines of credit reporting too.
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CreditRepair.com Review: How Does It Really Work?

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CreditRepair.com Review

Is Credit Repair.com the right company for repairing your credit? CreditRepair.com review

With all the credit repair companies out there, it’s hard to decide which company is reputable, honest, affordable and will really repair your credit. If you’ve done the research you probably discovered that there are only a few reputable companies that stand out from the rest.

In this post, we are going to review one of those reputable companies known as CreditRepair.com which was founded in 1997. Our CreditRepair.com review will reveal to you how their program really works, what features they offer, why their service is unique, and why they are a top-rated credit repair service.

First things first.  Every individual has the right to repair their own credit; in fact, the Fair Credit Reporting Act protects our right to do so. With that said why do people turn to credit repair companies if they can fix their own credit?

It comes down to three major reasons:
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How to Build Business Credit Step by Step

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How to Build Business Credit Step by Step

Have you heard the expression “Success leaves clues” from the famous Tony Robbins? how to build business credit step by step

If you look at the most successful businesses in America they all have one thing in common; they all have business credit. Many of these big companies continue to use business credit today to grow and expand their companies.

For example, mega retail giant Walmart has over 500 trade lines reporting on its Experian business report. This is how they stock their stores and maintain close to $30 billion in accounts payable to their suppliers.

The most important thing to realize is the benefits of business credit is not only available for big business. Startups and small businesses can also enjoy the same benefits and leverage that a big business has once they know the process and put it into action.
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