CreditStrong for Business

NOVEMBER 7, 2024

Whether you’re looking to build credit, earn rewards or pay down high-interest debt, there’s a credit card that likely fits your needs. There are so many types of credit cards and welcome bonuses that it could make anyone’s head swim! We’ll even include the credit score you’ll need to aim for with each one.

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Credit Scoring Credit and Collections Credit Card Companies Bankruptcy 40

CreditStrong for Business

SEPTEMBER 4, 2024

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. With a chapter 13 bankruptcy, your credit is affected for seven years.

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Bankruptcy Chapter 7 Credit Scoring Credit Reporting Agencies 52

CreditStrong for Business

AUGUST 30, 2024

As a business owner, finding the right credit card is an important step in building your business and getting perks and rewards along the way. But once you have a business credit card, can you use it for personal expenses as well? Is It Illegal to Use a Business Credit Card for Personal Use?

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Credit Scoring Credit Card Companies Credit and Collections Deductions 52

Due

APRIL 2, 2024

Life’s uncertainties—job loss, emergencies, foreclosures, bankruptcies—can severely damage credit. With a commitment to bouncing back, discipline, careful planning, concrete goals, and strategic choices, it is possible to recover from financial troubles and rebuild your credit status. Bad credit carries numerous disadvantages.

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Credit Scoring Bankruptcy Credit and Collections Chapter 7 72

CreditStrong for Business

JULY 1, 2024

Building credit is an important part of your financial life. Your credit score determines the loans and credit cards you can qualify for and the interest rates of the loans you can get. What Bills Help Build Credit? What Bills Help Build Credit?

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Credit Scoring Credit and Collections Medical Billing Credit Reporting Agencies 52

CreditStrong for Business

AUGUST 2, 2024

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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Credit Scoring Bankruptcy Credit and Collections Third Party Collections 52

Lendio

MAY 6, 2024

If you’re trying to decide whether you should accept credit card payments, it’s never been easier. This guide will help you to decide whether you should take advantage of the estimated 441 million open credit card accounts in the United States. Why accept credit cards?

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CreditStrong for Business

SEPTEMBER 12, 2024

Unfortunately, regardless of the reason, they will affect your credit score. Still, you may be wondering—how long do late payments stay on your credit report? How Different Entries Affect Your Credit Score Equifax , Experian , and TransUnion , the three major credit bureaus, compile the data that creditors report.

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Credit Scoring Credit Card Payments Credit and Collections Bankruptcy 52

Lendio

JANUARY 11, 2023

When it came to collecting on unpaid invoices, that was my first mentor’s mantra. Yet, most of the entities you pay (utility companies, credit card companies, the IRS, etc.) Preparing to send them to collections. At this point, I’m out of options: I contact my collections agency.

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Past Due Invoices Credit and Collections Bad Debt Credit Card Companies 52

tillful

MAY 23, 2023

Secured credit cards can seem quite similar to prepaid cards and debit cards. However, they are a unique type of credit-building credit card that are actually more similar to unsecured credit cards (what you may be familiar with as “regular” credit cards).

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Credit Card Companies Credit Scoring Credit and Collections Credit Card Payments 52

TreviPay

AUGUST 8, 2023

Credit is a powerful and useful tool, but it should be handled with care… Whether it’s for purchases, mortgages, loan approvals, or B2B financing, many organizations need to create a clear and effective credit decisioning process. What is credit decisioning? What factors play a role in credit decisioning?

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Credit and Collections Credit Risk Credit Card Companies Credit Application 52

CreditStrong for Business

AUGUST 23, 2024

Small business owners looking for a way to finance and organize purchases will want to know how to get a business credit card. In addition to having the application information ready in advance, you’ll want to know how both personal credit and business credit scores are considered for approval. Why do they ask this?

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Credit Scoring Credit and Collections Credit Reporting Agencies Small Businesses 52

Due

JULY 14, 2023

There is no doubt that we have a credit card problem. A survey by GoBankRates found that 30% of Americans have debt up to $5,000 on their credit cards, 15% have debt that is over $5,000, and about 6% have debt that is over $10,000. In addition, 15% of Americans are in credit card debt for over 15 years.

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Credit Scoring Credit Card Companies Credit and Collections Medical Billing 52

CreditStrong for Business

MARCH 8, 2023

The three major credit bureaus, Equifax, Experian, and TransUnion, must record hard credit inquiries or “hard pulls” on consumer credit files for two years. A credit reporting company must maintain the inquiry (entry) as part of the credit history unless it was fraudulently conducted.

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

Due

MAY 8, 2024

We all know how convenient it is to swipe our credit cards for everyday purchases. adults had a credit card , making it the most common consumer lending product. There is, however, a complex world of fees associated with credit card processing behind the seamless experience. In fact, as of 2022, 82% of U.S.

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Credit Card Payments Credit and Collections Transactions Credit Card Companies 52

CreditStrong for Business

OCTOBER 30, 2024

The rapid rescore process is a service most commonly purchased by a mortgage lender when a prospective homebuyer’s credit score needs a slight improvement for either qualifying for a mortgage loan or securing a more favorable interest rate. Often, the credit report information is sent every 30 to 45 days. What Is a Rapid Rescore?

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

Due

JUNE 22, 2023

From helping you build a credit history and offering liability protection to entitling you with bags of rewards – credit cards are, indeed, of thousand utilities. However, do you know your credit card can award you more than what you already know? Leveraging them may allow you to save significantly.

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Credit and Collections Credit Card Companies Credit Scoring Deductions 59

CreditStrong for Business

OCTOBER 3, 2024

When you’re focused on improving your credit, you’re always keeping tabs on the personal tradelines being added and removed from your credit report. If you’ve recently added a new tradeline with the hopes of increasing your credit score, you’re probably wondering when it will start showing. Tradelines can last a long time!

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

Fundera

AUGUST 26, 2018

Business credit cards are essential financing tools for both new and established business owners alike. When you’re just beginning, they can be your main financing lifeline and how you build your business credit. Many business owners need to know how to recover from business credit card debt.

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Chapter 11 Bankruptcy Chapter 7 Credit and Collections 65

Fundera

NOVEMBER 9, 2017

Business credit scores are vital to a business’s health and success. If you own a business and have any sort of open credit, then you certainly have a corresponding credit score. What’s a Business Credit Score? A business credit score is similar to a personal credit score. Check your credit report.

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Credit Scoring Credit Reporting Agencies Credit and Collections Credit Card Companies 99

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. That’s not entirely true.

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

Fundera

SEPTEMBER 18, 2018

When a credit bureau computes your credit score, their job is to produce a number that estimates—given your past and current financial history—how likely you are to default on future debts. There are five notable components of a personal credit score. There are five notable components of a personal credit score.

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Lendio

JANUARY 23, 2023

Have you ever wondered why lenders pay such close attention to your credit score ? If your credit score reflects a solid track record, you’ll get serious consideration. We’ve all collected our share of bumps and bruises along the way. So there’s no shame in a less-than-stellar credit score.

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Credit Scoring Credit and Collections Credit Card Companies Small Businesses 52

CommandCredit

OCTOBER 11, 2021

A good business credit score can help you get financing more easily. It can help if you need to take out a business loan or establish credit with another company. At Command Credit, we make it easy to check your business credit score or those of your customers and suppliers. What Is a Good Business Credit Score?

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Credit Scoring Credit and Collections Credit Reporting Agencies Bankruptcy 40

CreditStrong for Business

MARCH 10, 2023

Late payments remain on your credit bureau report and influence your credit score for seven years. Fortunately, there are ways to improve your overall credit profile to offset the adverse results that late payments have on your credit score. What Is Considered as a Late Payment? on the due date are deemed as late.

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Credit Scoring Credit Card Payments Bankruptcy Chapter 7 52

CreditStrong for Business

OCTOBER 24, 2024

After doing a credit check, most lenders will require that borrowers demonstrate a verifiable source of income. Those who lack any other source of income and have a poor credit history will typically have very limited and less desirable options. The likelihood of approval varies based on the lender and other financial circumstances.

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Bankruptcy Credit Scoring Credit and Collections Credit Unions 52

CreditStrong for Business

OCTOBER 1, 2024

Jargon in the credit industry makes it difficult for many consumers to understand our credit system. As a result, nearly 40% of Americans report having no idea how their credit scores work 1. A tradeline refers to the open and closed accounts in your credit report. How Can You Add Primary Tradelines to Your Credit Report?

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

Credibly

FEBRUARY 23, 2023

Table of Contents Why Should I Get My Credit Score? What is My Business Credit Score? What is a Business Credit Report? What is a Business Credit Bureau? How Do I Check My Business Credit Score? Just as each person has a unique credit score, each business also has its own credit score.

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Credit Scoring Bankruptcy Credit and Collections Credit Card Companies 40

Lendio

JULY 18, 2024

The latter includes debt that can directly and negatively impact a business owner’s credit score, or that costs money or potentially limits their ability to secure financing in the future. For example, let’s say you receive a credit card bill of $1,000 with a minimum monthly payment of $50. What is past due debt?

Credit Scoring 52

Credit Scoring Credit and Collections Bad Debt Credit Card Companies 52

Fundera

NOVEMBER 21, 2017

As you might know, your business credit score is very important to your business’ financial health. A change in credit score could alter the course of your business for the foreseeable future—but how often does that happen? What is a business credit score? What affects my business credit score?

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Credit Scoring Credit and Collections Bankruptcy Credit Card Companies 52

Waystar

MAY 31, 2023

Under their legacy vendor, they had to rely on point solutions, manual reconciliation, and far too many credit card companies in the collections process. Collecting patient satisfaction scores is key to knowing where your health organization stands. Are you currently quantifying patient satisfaction?

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Medical Billing Credit and Collections Credit Card Companies 52

Due

JANUARY 27, 2023

What’s more, increasing credit card debt and interest rates are contributing to the problem. Credit score. It is also important to maintain a good credit score in order to maintain financial health. Make sure you have a prime credit score. A recession is also on the horizon. The cost of housing has also risen.

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Credit Scoring Credit and Collections Credit Card Companies Default 105

FICO Blog

FEBRUARY 21, 2023

Increasing of the fed funding rates leads to higher interest rates when seeking new credit or carrying balances on credit cards. For example, the average interest rate on credit cards accruing interest in Q4 2022 was 20.40% compared to 16.44% in Q4 2021 (Source: Federal Reserve G.19 19 report on Consumer Credit).

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Credit and Collections Credit Card Companies Credit Risk 52

Fundera

APRIL 19, 2018

Thanks to something called “EMV technology,” you’ve likely received new credit and debit cards in the mail sporting simple silver squares. Along with the futuristic look they add to any blasé black-striped credit card (nice!), And that credit card compliance law, too—also known as EMV compliance law.

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Credit Card Companies Credit and Collections Transactions Small Businesses 75

Fundera

NOVEMBER 14, 2018

How Does Credit Work? Whenever you open a credit card or apply for a loan, credit bureaus collect information about your usage. That information appears on your credit report and is used to calculate a numeric credit score. It’s not just about achieving the perfect credit score.

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Credit Scoring Credit and Collections Default Credit Card Companies 57

Fundera

SEPTEMBER 1, 2017

While there’s some debate in American politics over whether or not “corporations are people,” it is true that businesses have credit scores and can receive credit reports the same way individuals do. What is a Business Credit Score? A short list of factors affecting your score also includes: Credit utilization ratio.

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Credit Scoring Credit and Collections Bankruptcy Credit Card Companies 70

Fundera

JULY 12, 2016

While there’s some debate in American politics over whether or not “corporations are people,” it is true that businesses have credit scores and can receive credit reports the same way individuals do. What is a Business Credit Score? A short list of factors affecting your score also includes: Credit utilization ratio.

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Credit Scoring Credit and Collections Bankruptcy Credit Card Companies 75