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13 Surprising Factors That Affect Your Credit Score (and Why Small Business Owners Should Care)

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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. How Credit Bureaus Calculate Your Credit Score.

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How To Get a Car With No Credit or Cosigner

CreditStrong for Business

You’ll need some patience when it comes to saving up for a down payment or establishing your credit history. Even with a good credit score, it wouldn’t matter much if you don’t make enough to afford the car payments. Borrowers with no credit saw an average credit score of 630-650 within 12 months of on-time payments.

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The Best Low-Risk Industries for Business Credit

CreditStrong for Business

Solid revenues, profitability, good credit scores, and length of time in business are all driving forces behind what minimizes the credit risk for a lender. by the US census bureau, it’s also used by potential lenders and insurance providers. The best way to get the financing you need is to build business credit.

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Ways Credit History Can Impact Everyday Life

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Without a credit history, there is no way for lenders to verify eligibility for loans, rentals, jobs, and insurance policies. On the other hand, your credit score is the number calculated from your credit history and credit report information. FICO scores range from 300 to 850.

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Demystifying Credit Crunches and What They Mean for Small Businesses

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While your revenue and credit scores haven’t changed, your application gets rejected. This can happen as the result of a credit crunch — also called a credit crisis or credit squeeze. As a result, they’ll need to tighten their credit standards and/or raise their interest rates to prevent further losses.

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26 Ways to Simplify Your Financial Life – While Saving Astronomical Amounts of Money

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By going paperless with your bills , you can reduce clutter around the house — and even save some trees All the companies that you do business with make it easy for you to opt for electronic billing. This includes banks, credit card companies, cable TV providers, cellphone companies, and insurance companies.

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60 Business Finance Terms and Definitions You Absolutely Should Know

Fundera

Turning to bankruptcy should be given careful thought because it will have a negative effect on the business credit score. Items like how large the company is, how long has it been in business, amount and type of credit issued to the business, how credit has been managed, and any legal filings (i.e., Credit Limit.