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Gleaning Actionable Insights from Credit Scores

Your Virtual Credit Manager

Commercial credit scores predict the likelihood of a business fulfilling its financial obligations, particularly regarding debt repayment and trade credit. Commercial credit scores are often not as well understood as consumer credit scores such as FICO.

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Understanding Your Business Credit Score Range

Lendio

A personal credit score determines the level of risk that comes with lending to you. You use it to apply for credit cards and other financing options to cover major purchases. Like personal credit , business credit takes time to build. Like personal credit , business credit takes time to build.

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What is the Lowest Credit Score?

CreditStrong for Business

FICO, the model used by the majority of lenders, generates credit scores using the FICO® Score 8 version with a range beginning at 300 up to an 850 maximum score. However, certain industry-specific FICO credit score versions use a 250 to 900 range. Given that, 300 is often the lowest credit score.

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What Is a Good Intelliscore Plus Credit Score?

CreditStrong for Business

The Intelliscore Plus credit score is a business credit score created by Experian, which is one of the major business and consumer credit bureaus. The newest version of the Intelliscore Plus has a range of 300 to 850, which aligns with most personal credit score ranges. One-time reports cost $39.95

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How Long Does Bankruptcy Stay On Your Credit Report?

CreditStrong for Business

Making the decision to file for bankruptcy is far from easy. The trade-off for having your debt eliminated is a long-lasting derogatory mark on your credit report identifying you as a huge credit risk. Your credit report sees the effects of a bankruptcy filing for ten years for a chapter 7 bankruptcy.

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Why Did My Credit Score Go Down When Nothing Changed?

CreditStrong for Business

In many cases, a consumer who has seemingly been managing their finances responsibly will notice an unexpected credit score drop. This negative credit score fluctuation is particularly troubling for those concerned with maintaining good credit for an upcoming home or auto loan. 8 Reasons Why a Credit Score Drops 1.

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What Is the Highest Credit Score Possible?

CreditStrong for Business

FICO® and VantageScore, the two primary credit scoring models, most commonly use a credit score range from 300-850. 850 is normally the highest credit score possible. However, some credit score ranges go up to 900. According to 2019 FICO credit score statistics , merely 1.6%