Fundera

APRIL 12, 2016

Your credit score is a three-digit number that gives potential lenders an idea of how likely it is that you’ll be able to pay off debt. The higher, the better: most credit score ranges begin at 300 and increase until 850. If you have a score of 850, you get a million gold stars and the best possible loan options.

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Fundera

NOVEMBER 11, 2016

Building up your business credit is an alternative that often makes it easier to get a business loan. Business credit is calculated on a scale, too. While personal credit is ranked between 300 and 850, business credit scores are usually on a scale between 0 and 100. The Role of Business Credit Reports.

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Fundera

APRIL 20, 2016

When you’re applying for a small business loan , your business credit score is an important factor in the lender’s decision. What is the FICO Liquid Credit Score—and why does it matter to your business? But unlike with the FICO scores you might know more about, the Liquid Credit Score ranges from 0 to 300.

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Credit Scoring Credit Reporting Agencies Credit Card Payments Small Businesses 74

CreditStrong for Business

JULY 11, 2024

Lenders choose scoring versions that work for their needs. VantageScore vs FICO Most people use the terms credit score and FICO Score the same way, but there’s more than one type of credit score. You’re more likely to use your FICO credit score though. People like students and immigrants.

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Fundera

SEPTEMBER 1, 2016

No matter what kinds of credit you need personally or for your business, good credit starts with good handling of your personal credit accounts. Lenders check your credit score to decide whether or not you’ve typically repaid the debts you owe… And whether they should lend money to you, too.

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Fundera

JULY 28, 2016

But when those three digits represent your personal credit score , they can indeed have a dramatic impact on your future choices. To a large extent, the answer depends on those three digits of your credit score, so you should probably know your credit score meaning. Credit Score Meaning: What is FICO?

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Fundera

SEPTEMBER 16, 2017

But when those three digits represent your personal credit score , they can indeed have a dramatic impact on your future choices. To a large extent, the answer depends on those three digits of your credit score, so you should probably know your credit score meaning. Credit Score Meaning: What is FICO?

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Credit Scoring Credit Reporting Agencies Credit and Collections Default 73

Fundera

JANUARY 25, 2019

But when those three digits represent your personal credit score , they can indeed have a dramatic impact on your future choices. To a large extent, the answer depends on those three digits of your credit score, so you should probably know what credit scores mean. Credit Score Meaning: What Is FICO?

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Credit Scoring Credit Reporting Agencies Credit and Collections Default 73

Fundera

MAY 11, 2016

If you’ve been diligent about making your debt payments on time and in full over the years, your credit is probably pretty good. If you have a 700 credit score (or better), your responsible credit habits could pay off big time when you’re looking for business financing.

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Fundera

DECEMBER 1, 2018

What Is a Business Credit Score? A business credit score is a way for lenders to predict how likely you are to repay debt. The business credit score ranges from zero to 100 and, as with personal credit scores, the higher your number, the more likely you’ll qualify for affordable financing.

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Fundera

AUGUST 30, 2018

Your personal credit score is much more than a number. A good personal credit score is key to qualifying for business loans and business credit cards and to receiving favorable rates on those products. You’ll also get some actionable tips to improve your score to 700 or higher.

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Fundera

JULY 20, 2018

Most of us are familiar with the concept of checking our credit score—and, luckily, it’s a fairly simple process these days (for instance, you can do it right here). It’s true—even though you might think that a business credit score is just, well, private business , it’s actually publicly accessible.

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Fundera

NOVEMBER 11, 2016

Building up your business credit is an alternative that often makes it easier to get a business loan. Business credit is calculated on a scale, too. While personal credit is ranked between 300 and 850, business credit scores are usually on a scale between 0 and 100. The Role of Business Credit Reports.

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Credit Scoring Credit Reporting Agencies Bankruptcy Small Businesses 63

Fundera

SEPTEMBER 20, 2017

We’re thinking of a number between 300 and 850… and it’s your credit score. Unless you have an absolutely perfect credit score—850—we’re willing to bet that you’d like to tack on a few points to that three-digit number. Building credit fast is no easy task. Why You Need to be Monitoring Your Credit.

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Credit Absolute

FEBRUARY 21, 2023

The Fair Credit Reporting Act came into law in 1970 to protect citizens’ credit information. Credit reporting agencies are bound by the act to provide accurate, factual, and up-to-date consumer information.

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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. The subject of credit inquiries—especially hard credit inquiries—causes many misunderstandings.

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CreditStrong for Business

JULY 11, 2024

Equifax’s three primary business credit scores are their Credit Risk Score, Payment Index Score, and Business Failure Score. You can typically call your scores in each of these models good if they’re above 556 , 90 , and 1,315 , respectively. The lower the score, the higher the risk.

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CreditStrong for Business

AUGUST 27, 2024

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?

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CreditStrong for Business

JULY 29, 2024

The negative credit report entry will also have an adverse impact on your credit scores. The credit score of an individual with otherwise good credit will typically decline somewhere in the range of 100 points after the unpaid collection debt becomes formally factored in by the credit reporting agency.

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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.

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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?

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Credit Scoring Credit Reporting Agencies Credit Card Companies Credit Risk 59

CreditStrong for Business

AUGUST 20, 2024

Filing for bankruptcy sets your credit score back significantly, but you can usually begin to recover within a few months and make meaningful progress within a year. Within two years, your credit score could be even better than before you filed. However, the road to recovery is long, and there are no guarantees.

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tillful

JANUARY 11, 2023

A business credit score is similar to your personal credit score in that it serves as a key indicator of your business’s financial health and reliability as a borrower to repay. Why is your business credit score a deciding factor for so many different financial transactions?

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tillful

JUNE 14, 2023

Looking to learn the ins and outs of Experian business credit scores ? as a consumer credit reporting company, but it also collects information on millions of businesses and provides business credit reporting services. If you do, you can access your Experian credit score through Tillful at no extra cost.

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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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CreditStrong for Business

JULY 26, 2024

When you apply for a business loan, commercial lenders consider many different factors, including your business credit scores, credit history, financials, collateral, and more. But in many cases, your credit scores are the most important factor because they indicate how well you’ve managed your debts in the past.

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CreditStrong for Business

AUGUST 20, 2024

You’ve worked hard at building your credit and you now have a good credit score that can be used for applying and getting approved for the credit card you’ve always wanted. But a few weeks after you activate and begin using the new card, you may notice that your credit score takes a dip.

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CreditStrong for Business

NOVEMBER 22, 2024

In general, pulling your credit to apply for a new credit account triggers a hard inquiry, and hard inquiries take points off your credit score. When shopping for a mortgage, it’s best to compare multiple options, which usually requires letting lenders pull your credit multiple times.

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Fundera

SEPTEMBER 29, 2017

When you become a business owner, you quickly realize that it isn’t just about your personal credit score anymore. Yes, your personal credit score still plays a (surprisingly) important role in your business’s life, but now you have another financial indicator to pay attention to: your business credit score.

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Fundera

NOVEMBER 28, 2016

If you’ve ever rented a home, applied for a small business loan , or taken out a personal or business credit card , then you know how important your personal credit score is. Yes, that seemingly arbitrary three-digit number on your credit report is something worth paying close attention to. Credit utilization.

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Credit Scoring Credit and Collections Credit Reporting Agencies Small Businesses 99

Fundera

NOVEMBER 28, 2016

If you’ve ever rented a home, applied for a small business loan , or taken out a personal or business credit card , then you know how important your personal credit score is. Yes, that seemingly arbitrary three-digit number on your credit report is something worth paying close attention to. Credit utilization.

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Credit Scoring Credit and Collections Credit Reporting Agencies Small Businesses 99

CreditStrong for Business

AUGUST 9, 2024

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.

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CreditStrong for Business

JULY 11, 2024

An 800 credit score is perfect credit. You get the best mortgage rates, fast approvals, and qualify for the best credit cards and loans. Although it might sound difficult to get there, it’s easy to accomplish when you pay all of your bills on time, pay down debt, and make vigilant decisions on applying for new credit.

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Fundera

FEBRUARY 17, 2016

Just as you monitor your personal credit score by reviewing your credit reports periodically, it’s important to keep up to date on your business’s credit score by regularly reviewing its credit reports, too. But making heads or tails of your business credit report can be tricky.

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tillful

FEBRUARY 2, 2023

Can a checking account help or hurt your credit score? In most cases, the answer is neither — it doesn’t connect to business credit at all. However, there are some exceptions, and credit scoring models may be moving in that direction in the future. Do checking accounts affect your credit score?

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Fundera

APRIL 7, 2016

Learn why good personal credit is so important to future business credit—and how to polish yours. Why Business Lenders Look at Your Personal Credit Score. To assess this risk, lenders study each borrower’s past credit and repayment behavior—which gets reflected in their credit scores.

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tillful

JANUARY 24, 2023

You may have heard about a business credit score and wondered if you really need to focus on building it. Can’t you just rely on your personal credit score? A business credit score is based on the financial track record of your business, and is tied to your employer identification number (EIN).

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