Fundera

MAY 17, 2017

Second: Federal regulations on consumer credit cards are stronger than those on business credit cards. Many protections afforded by the 2009 Credit CARD Act only apply to personal credit cards—advanced notice on APR increases and limits on fees, for example. Check Your Business Credit Card Options.

Credit Scoring 71

Credit Scoring Transactions Small Businesses 71

CreditStrong for Business

OCTOBER 24, 2024

Credit Cards A credit card is a revolving form of financing that an unemployed consumer might qualify for. However, in 2009 legislators passed the Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit CARD Act), which might make qualifying more challenging.

Bankruptcy 52

Bankruptcy Credit Scoring Credit and Collections Credit Unions 52

Fundera

AUGUST 12, 2018

While you’ll need to provide a slew of credentials to qualify for a small business loan —like strong revenue, time in business, credit score, industry risk, and more—credit card companies won’t ask for nearly as many qualifications on their applications. …and your personal credit score.

Credit Scoring 63

Credit Scoring Credit Card Companies Small Businesses Transactions 63

Fundera

FEBRUARY 28, 2017

You need to be prepared to pay off what you spend on a credit card each month without being reminded to do so—otherwise, you’ll incur interest payments, late fees, and take hits to your credit score. And along those lines, do you fully understand how your credit card and credit score relate?

Credit Scoring 75

Credit Scoring Credit Card Payments Credit Card Companies Deductions 75

Fundera

FEBRUARY 16, 2016

It’s not an unfair assumption to make that if a borrower can convince 3 to 5 people to invest money into their business venture, then they’ve probably got a good chance of success—even if they lack the financial documents or credit history to prove it. CAN Capital. And CAN Capital has speed down to a science.

Small Businesses 76

Small Businesses Credit Scoring Credit and Collections Investment Firms 76

CreditStrong for Business

AUGUST 30, 2024

But if you still have a balance on that card, it’ll still count against you when credit scoring models calculate your credit score. If your credit utilization — the percentage of your total available credit that you’re using at a given time — is too high, it could damage your business credit score.

Credit Scoring 52

Credit Scoring Credit Card Companies Credit and Collections Deductions 52

CreditStrong for Business

JULY 1, 2024

A tradeline is simply any credit account that’s open in your name. It could be a mortgage, credit card, or loan. Put the two together, and you get a tool with the potential to help you boost your credit score with minimal effort. Authorized user tradelines are accounts that build credit.

Credit Scoring 45

Credit Scoring Credit Card Companies Credit Reporting Agencies Credit Risk 45

CreditStrong for Business

SEPTEMBER 6, 2024

What’s more, if you’re constantly bumping into your credit limit on a personal credit card, it could have a seriously negative impact on your personal credit score. That said, business credit cards can also impact your personal credit score.

Credit Scoring 52

Credit Scoring Small Businesses 52

Fundera

AUGUST 26, 2018

The biggest consideration for card issuers is your personal credit score—if you’re responsible with your personal debt, as indicated by your credit history, you’re lower risk for a business credit card. With that in mind, remember when you applied for your business credit card with your personal credit score?

Chapter 11 65

Chapter 11 Bankruptcy Chapter 7 Credit Card Companies 65

Fundera

JULY 18, 2018

So, even if you don’t have an established concept and customer base, you might still qualify for equipment financing from an online lender—especially if you have a strong personal credit history. Your lender will want to see your credit score, of course, and an equipment quote, too.

Nonprofit Organizations 75

Nonprofit Organizations Credit Scoring Transactions Small Businesses 75

Abrigo

JULY 22, 2022

Cryptocurrency was first introduced in 2009 and is lauded for providing a level of privacy and security that traditional banking cannot guarantee. Interest rates are relatively low—often in the single digits—and there's generally no credit check required. trillion last fall to less than $900 billion today. .

Transactions 78

Transactions Credit Unions Credit Scoring 78

CreditStrong for Business

OCTOBER 30, 2024

If you only missed one credit card payment a few years ago, it’s likely that something else contributed to your application denial. Too Much Outstanding Debt How much debt you owe is worth 30% of your FICO score. That makes it the second most significant credit scoring factor after your payment history and almost as impactful.

Credit Scoring 52

Credit Scoring Credit Card Companies Credit Card Payments Credit Application 52

CreditStrong for Business

JANUARY 10, 2025

You’ve formed a new LLC with one owner that has an excise tax filing requirement for tax periods beginning on or after January 1, 2008, or an employment tax filing requirement for wages paid on or after January 1, 2009. If you don’t currently have an EIN for your small business, check to determine whether you need one.

Nonprofit Organizations 52

Nonprofit Organizations Credit and Collections Credit Unions Bankruptcy 52