CreditStrong for Business

NOVEMBER 7, 2024

The first option involves directly contacting the lender regarding the potential error on your payment history, such as a credit card company or student loan issuer. The next option involves filing a dispute with the credit reporting agency regarding the possible erroneous entry.

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CreditStrong for Business

SEPTEMBER 12, 2024

The three major credit bureaus— Equifax , Experian , and TransUnion —must record hard credit inquiries or “hard pulls” on consumer credit files for two years. This is done to help lenders assess your current creditworthiness more easily.

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The Red Spectrum

MAY 18, 2023

This blog will explore when credit card payments report to credit bureaus , the factors influencing reporting timelines, and the importance of timely payments for maintaining a good credit score. What Are Credit Bureaus? Before diving into the details, let’s first understand what credit bureaus are.

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The Red Spectrum

APRIL 11, 2023

One way for new businesses to build their credit history and obtain a business credit score from credit reporting agencies is by opening net 30 vendor accounts that have lenient approval criteria and offer credit purchases with a 30-day payment window. Burstbiz 2. The Red Spectrum 3.

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CreditStrong for Business

SEPTEMBER 4, 2024

Then you’ll likely be in the catch-22 of having no credit and needing to have credit to build credit. This is often referred to as having an insufficient credit history. The initial sting of getting your credit application denied doesn’t feel great, but there are ways to overcome it.

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Eastern Credit Management Services

NOVEMBER 13, 2019

You can do this quite effectively by having a detailed credit application, I’m so much of a proponent of this that I wrote a whole blog dedicated to creating one. A detailed credit application does two things, it informs your customer of the terms and conditions of the credit you extend.

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Lendio

NOVEMBER 2, 2023

This could happen if you’re applying for multiple credit cards at once or shopping around for a loan without pre-approval. To keep your credit score on track, it’s wise to spread out your credit applications and seek preapprovals when possible, which only require a soft pull.

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CreditStrong for Business

AUGUST 20, 2024

The Importance of Checking Your Credit How do you know if your credit is improving or not? You need to check your credit report to find out. Once a year, or each time you have a credit application rejected, you can obtain a free credit report from each credit reporting agency (credit bureaus).

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CreditStrong for Business

SEPTEMBER 4, 2024

Make a copy of your credit report along with the documents proving the error. Highlight the error(s) on the credit report and send correct documentation with it. Write a letter or process an online dispute with the credit reporting agency you found the error with.

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Due

JANUARY 3, 2023

There are dozens of places where you can obtain your credit report. The three big credit bureaus, however, are Equifax®, Experian®, and TransUnion®. Often referred to as credit reporting agencies, these companies work independently. Credit Reports vs. Credit Scores.

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tillful

JANUARY 11, 2023

We get that, for many small business owners, raising your credit score can feel like just another thing on top of a huge stack of to-do’s. Plus, knowing that there are three main business credit reporting agencies ( Experian , Equifax , and Dun & Bradstreet ) can feel a bit overwhelming.

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Fundera

SEPTEMBER 1, 2016

The fastest way is to use the snowball method and to get into the habit of making timely payments and handling credit responsibly. If you pay rent, ask your landlord to report your payment history. All three major credit reporting agencies now offer credit scoring models that factor in rent payment history.

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CreditStrong for Business

JULY 15, 2022

When you interact with a lender, they have the option (but not the responsibility) to report the details of your activities — including things like available balance, outstanding balance, payment behavior, and more — to the credit bureaus. There are three main consumer credit bureaus — Experian, TransUnion, and Equifax.

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Fundera

SEPTEMBER 1, 2016

The fastest way is to use the snowball method and to get into the habit of making timely payments and handling credit responsibly. If you pay rent, ask your landlord to report your payment history. All three major credit reporting agencies now offer credit scoring models that factor in rent payment history.

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Lendio

MAY 28, 2024

It’s also important to understand that you don’t have just one credit score—different lenders and credit reporting agencies use multiple credit scores. Salary and employment : Salary, employment history, and occupation are not considered when calculating your credit score.

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tillful

MARCH 15, 2023

During the initial credit application, lenders will often ask you to select your industry from a dropdown menu of business categories. For example, the credit reporting agency, Dun & Bradstreet , created an extension of the SIC system and uses it to define its customer’s business types.

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