Your Virtual Credit Manager
JUNE 18, 2024
That’s why it is standard to ask on a credit applications the year in which the business was formed. Years in business is a critical factor in the assessment of credit risk along with number of employees, which can be a good proxy for sales volume, something private businesses are not always willing to disclose.
CreditStrong for Business
SEPTEMBER 12, 2024
These checks have no impact on your credit score, and the most common examples of soft inquiries include: Checking your personal credit report Checking performed as part of pre-employment background screening for potential new hires Inquiries performed by credit card companies for the purposes of marketing their pre-approval offers Checks performed (..)
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CreditStrong for Business
DECEMBER 12, 2024
As a result, both the FICO and VantageScore credit scoring models expect borrowers to shop around to keep financing costs as low as possible. They give you a short window during which multiple applications count as one credit application. Fortunately, checking your own credit counts as a soft credit inquiry.
CreditStrong for Business
OCTOBER 3, 2024
The tradelines on your credit report (and how you use them) all feed into the calculation of your credit score. Think of it like a report card where each tradeline is a different subject you’re being graded on. It starts when you complete a credit application through a lender.
CreditStrong for Business
OCTOBER 24, 2024
That doesn’t make it legal to use a different SSN to defraud lenders or credit card companies. got 18 months in prison for using CPNs on multiple credit applications. In fact, CPNs are often actual SSNs that scam artists have managed to steal from other people. For example, Calvin Wayne Cade, Jr.
TreviPay
AUGUST 8, 2023
Understanding the principles and decision strategies involved is useful knowledge for both credit applicants and credit providers. What is credit decisioning? Credit decisioning is the process of evaluating a potential borrower’s creditworthiness. What factors play a role in credit decisioning?
CreditStrong for Business
OCTOBER 24, 2024
Risk to Your Credit Score Taking on a little risk to earn hefty rewards is ideal, but there’s a bigger risk to your credit score. Although it’s only about 10% of the overall calculation, the number of new credit applications on your credit report could create a dip in your credit score.
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