CreditStrong for Business

FEBRUARY 25, 2025

Does your credit score go up after inquiries fall off ? While it may be concerning to see your credit score take a small dip after applying for a new credit line, understanding why this change happens can help you take steps to repair your score. Does Removing Hard Inquiries Increase Credit Score?

Credit Scoring 52

Credit Scoring Credit Application Dashboards 52

RMAi Blog

FEBRUARY 20, 2025

Stakeholders representing banks, credit monitoring agencies, not-for-profits, regulatory agencies and the government gathered on 4 Feb. The discussion highlighted how changes to credit scoring could reduce barriers for consumers to seek help and improve access to affordable financing.

Credit Scoring 130

Credit Scoring Credit and Collections 130

CreditStrong for Business

FEBRUARY 25, 2025

If a collection account is deleted, does your credit score increase ? The short answer is that it depends on the credit-scoring model used to evaluate your credit. If a collection account appears on your credit, it highlights a crucial issue with your financial health, which you should immediately work to improve.

Credit Scoring 52

Credit Scoring Credit and Collections Medical Billing Collector 52

CreditStrong for Business

FEBRUARY 25, 2025

Does increasing the credit limit affect the credit score ? The answer typically depends on many factors, including how high or low your credit utilization is and what happens after you request a raise. Knowing when to do so and if you should raise your credit limit is also important to avoid damaging your credit score.

Credit Scoring 52

Credit Scoring Dashboards Credit Application 52

CreditStrong for Business

FEBRUARY 25, 2025

If youre about to apply for a mortgage loan, you are most likely concerned about how the loan will affect your credit score. This is because your credit score significantly influences your financial prospects and your chances of qualifying for loans, lower interest rates, cash back rewards, and travel points.

Credit Scoring 52

Credit Scoring Bankruptcy Dashboards Credit Management 52

Lockstep

JULY 27, 2022

Stay ahead of the curve by leveraging automation for customer credit scoring. . What is customer credit? . Customer credit is an arrangement between a buyer and a seller in which the buyer agrees to purchase goods or services now and pay for them at a later date.

Credit Scoring 89

Credit Scoring Accounts Receivable (AR) Bad Debt AR Automation 89

The Red Spectrum

APRIL 13, 2023

A business credit score is a numerical representation of a company’s creditworthiness. Credit bureaus calculate it based on the company’s credit history, payment behavior, and other financial data. Having a good business credit score is crucial for several reasons.

Credit Scoring 86

Credit Scoring Credit Reporting Agencies Small Businesses 86

The Red Spectrum

MAY 9, 2023

A high credit score is necessary in today’s society to obtain credit, loans, and other financial services. It is a sign of a person’s credit history and how likely they are to repay loans they have taken out. The greater the creditworthiness, the higher the score.

Credit Scoring 74

Credit Scoring Bankruptcy Default 74

Credibly

JANUARY 10, 2025

Table of Contents Can you get a business loan with no credit check? The pros and cons of a small business loan with no credit check Business loan options with low credit score requirements Borrowing with Credibly and our low credit score requirements Explore your flexible financing options Looking for business loans with no credit check?

Credit Scoring 52

Credit Scoring Small Businesses 52

CreditStrong for Business

MARCH 23, 2023

Many aspects of the credit scoring system in the United States have remained virtually unchanged since the start of the 1990s, but it’s still a source of confusion for many Americans. In fact, roughly 40% of consumers report having no idea how credit scores work. What Is a Credit Score?

Credit Scoring 59

Credit Scoring Credit Reporting Agencies Credit Card Companies Credit Risk 59

CreditStrong for Business

AUGUST 16, 2024

The 800 credit score club. If that’s your next goal, you’re probably wondering, “What can I do with a credit score of 850?” So let’s check out the perks for 850 scores. 850 Credit Score Benefits Making it to an 800 credit score, let alone an 850, is quite the undertaking.

Credit Scoring 52

Credit Scoring Default Credit Management 52

CreditStrong for Business

MARCH 24, 2023

Conventional mortgage loans typically require higher credit scores than government-backed loans, but there are also many advantages to going with conventional mortgages. What is the Required Minimum Credit Score for a Conventional Loan? How Can Credit Scores Affect Mortgage Interest Rates?

Credit Scoring 59

Credit Scoring Credit and Collections Credit Unions Default 59

Headway Capital

OCTOBER 26, 2022

A good credit score can make all the difference. The post How to Improve Your Personal and Business Credit Scores appeared first on Headway Capital Blog. Lower interest rates. Better deals. Greater chance of approval.

Credit Scoring 52

Credit Scoring Small Businesses 52

Abrigo

FEBRUARY 25, 2025

The speed advantage may be due to large banks greater use of automated lending technology, the FDIC said, although large banks increased reliance on hard credit-scoring information may also play a role. Want to develop a higher-quality credit memo?

Small Businesses 78

Small Businesses Credit Scoring Credit Risk 78

CreditStrong for Business

APRIL 3, 2023

However, qualifying members still need to meet specific credit requirements to get approval from a VA loan officer. Here’s what you should know about the minimum credit score for a VA loan. What is the Minimum Credit Score Requirement for a VA Loan? That often includes a minimum credit score.

Credit Scoring 59

Credit Scoring Chapter 7 Bankruptcy Default 59

CreditStrong for Business

JULY 19, 2024

For some loan options, the Small Business Administration uses the FICO Small Business Scoring Service (SBSS). The FICO SBSS is a business credit scoring system that combines information from your business and personal credit history as well as your business finances. Don’t rely solely on your business credit score though.

Credit Scoring 52

Credit Scoring Credit Unions Small Businesses Default 52

FICO Blog

APRIL 12, 2023

The borrower’s credit score is one of the most critical factors in the valuation of securitizations. As the credit score used by more than 90% of top lenders in the U.S., Required credit enhancement depends on the credit scores of the borrowers and the level of risks associated with the underlying assets.

Credit Scoring 52

Credit Scoring Default 52

CreditStrong for Business

MARCH 9, 2023

When making improvements to your credit score, watching for any small movements can be anxiety-inducing. Credit score updates can happen on a daily basis. However, most people won’t notice it change that often because many credit monitoring tools only update credit scores once per month.

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Credit and Collections Credit Card Payments 52

Lendio

NOVEMBER 2, 2023

As a business owner, you know how important it is to maintain a good credit score. But what exactly can hurt your credit score? Payment history Your payment history is vital for your credit score. Late payments, missed payments, and defaults can significantly lower your score.

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Credit Application Default 52

CreditStrong for Business

MARCH 27, 2023

While there is no universally accepted “minimum credit score” for buying a home, home buyers with a score below 620 will find it very hard to qualify for a mortgage. What is the Minimum Credit Score for the First Time Home Buyer? What constitutes a good or bad credit score to a loan officer?

Credit Scoring 59

Credit Scoring Credit Unions 59

CreditStrong for Business

JULY 18, 2024

How Does A Credit Score Affect Car Insurance Rates? Auto insurance companies access credit information from the consumer credit bureaus to guide them when determining auto insurance rates. The following table illustrates how a consumer’s credit history can impact car insurance rates.

Credit Scoring 52

Credit Scoring Insurance Companies 52

The Red Spectrum

APRIL 17, 2023

Credit Limit vs Credit Score. When assisting individuals in managing their credit, we often want them to know. To effectively manage one’s credit, it is crucial first to comprehend the distinction between a credit score and a credit limit.

Credit Scoring 52

Credit Scoring Credit Risk Credit Management 52

The Red Spectrum

APRIL 26, 2023

Are you a first-time homebuyer with a less-than-perfect credit score? The good news is that you can still qualify for a mortgage with a low credit score. In this blog post, we’ll explore the minimum credit score requirements for first-time homebuyers and provide you with some tips to improve your credit score.

Credit Scoring 52

Credit Scoring Credit and Collections 52

CreditStrong for Business

MARCH 11, 2025

The sudden return of student loan payments may aversely affect your credit score in a number of ways. If youve been relying on credit cards or loans to make ends meet, you may see your credit utilization rate rise, which will bring your score down. Youll need to provide a deposit, which serves as your credit limit.

Credit Scoring 52

Credit Scoring Credit and Collections 52

CreditStrong for Business

MARCH 13, 2023

A good credit score is the key to unlocking many doors in personal finance. You’ll need a good credit score to access the best credit card accounts, get an affordable car loan, and become a homeowner. of Americans have a subprime credit score. of Americans have a subprime credit score.

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Credit Card Companies Bankruptcy 52

Beyond Capital Blog

MARCH 14, 2022

Your business credit score is important. We’ve compiled everything you need to know about credit score ratings and what they mean for your business. The post Business Credit Scores: Ranges, Factors and Everything Else You Need to Know appeared first on Fast Capital 360. The higher, the better.

Credit Scoring 52

Credit Scoring 52

The Red Spectrum

MAY 11, 2023

We’ll examine the most typical mistakes firms make while handling Net 30 vendor accounts in this blog post and offer helpful advice and techniques for preventing them. Late fees and credit score damage for your company can arise from late payments. Keep your time and money from being wasted due to a lack of knowledge.

Small Businesses 97

Small Businesses Credit Scoring 97

Beyond Capital Blog

MARCH 25, 2022

Having one doesn’t affect your credit score, but it could impact your chances of approval. The post What Are UCC Filings (and How Do They Affect a Business’s Credit Score)? UCC filings lay claim to assets until a debt is paid. appeared first on Fast Capital 360.

Credit Scoring 52

Credit Scoring 52

Lendio

JANUARY 11, 2023

A hard inquiry takes place when you apply for financing—like a loan or a credit card—and a lender reviews your credit report during the application process. Hard inquiries have the potential to damage your credit score. But that doesn’t mean you have to worry about a credit score drop every time you seek new credit.

Credit Reporting Agencies 98

Credit Reporting Agencies Credit Scoring Credit Application Small Businesses 98

Due

FEBRUARY 6, 2023

Having an emergency savings account is one of the most crucial ways to prevent credit card debt from building up. As a result, this prevents harming your credit score or even bankruptcy. Understand credit scores. Your credit score will be pulled instead,” adds John. How to rebuild a damaged score.

Credit Scoring 115

Credit Scoring Default Bankruptcy 115

The Red Spectrum

MAY 18, 2023

Credit reports play a crucial role in determining your creditworthiness and can significantly impact your ability to obtain loans, secure favorable interest rates, or even rent an apartment. What Are Credit Bureaus? Before diving into the details, let’s first understand what credit bureaus are.

Credit Card Payments 91

Credit Card Payments Credit Scoring Credit Reporting Agencies Credit and Collections 91

The Red Spectrum

MAY 8, 2023

This blog post will explore some of the small business financing trends to watch in 2023. The Importance of a Good Credit Score Having a good credit score is essential for any small business seeking financing. Credit scores provide lenders with an indication of how likely a borrower is to repay a loan.

Small Businesses 98

Small Businesses Credit Scoring Credit and Collections Transactions 98

The Red Spectrum

JUNE 12, 2023

It can help you: Improve your cash flow and working capital Build your credit history and score Access more rewards and perks Negotiate better terms and rates with suppliers and vendors Handle emergencies and unexpected expenses But how do you get a higher credit card limit? And what are the best practices to use it wisely?

Credit Scoring 96

Credit Scoring Transactions Default Small Businesses 96

Lendio

DECEMBER 13, 2023

credit score Time to funds (after approval) Funding Circle 2 years 660 As fast as 3 days Bankers Healthcare Group (BHG) 2 years 700 As fast as 3 days Compare business term loan lenders. credit score Time to funds (after approval) BlueVine 2 years 650 Same day OnDeck 1 year 600 Same day Compare line of credit lenders.

Credit Scoring 98

Credit Scoring Credit and Collections Small Businesses 98

Lendio

DECEMBER 14, 2022

When you apply for a business loan, many commercial lenders will review your credit history to get a sense of how you’ve handled debt in the past. Reviewing previous credit history and checking your credit scores helps lenders predict risk. Most lenders that issue ACH loans require a minimum credit score of 500 to 625.

Credit Scoring 98

Credit Scoring Credit and Collections Credit Reporting Agencies Small Businesses 98

Lendio

OCTOBER 17, 2023

Credit score – As part of the process, the lender will pull your credit report to see your overall financial health. If you’ve been in business for some time, a lender may also look at your business’ credit report. If you haven’t checked your business credit score before, check out this guide to learn more.

Credit Scoring 98

Credit Scoring Credit Unions Small Businesses Transactions 98

Prosper

JANUARY 13, 2023

Credit Bureaus and Credit Scores. Through your credit file and credit score. There are three credit bureaus in the United States: Experian, Equifax, and TransUnion. Credit Scores. The most commonly known one is the Fair Isaac Corporation, or FICO ® score.

Credit Scoring 98

Credit Scoring Credit and Collections Bankruptcy Nonprofit Organizations 98