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

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

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

Fundera

OCTOBER 16, 2015

Personal credit scores. Both Kabbage and OnDeck focus on your personal credit score, as opposed to your business credit score, which can be helpful if your business credit score is less than perfect or if you haven’t built up much of a history yet. Minimal time in business.

Small Businesses 102

Small Businesses Credit Scoring Deductions Default 102