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A Good Credit Score Means More Than Just Getting a Loan

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When you think of the benefits of having a good credit score, you usually start with how your score affects your ability to get financing. A good score makes it easier to get a loan such as a car loan or mortgage, and it is key in getting a low-interest rate. A bad credit score will make lenders leery of giving you money so even if they are willing to approve your application (something that certainly isn’t a sure thing now days), they are going to make you pay more for the loan in the form of higher interest rates...

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Keeping Up Your Credit Rating

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Just as you need to keep an eye on your customers’ credit rating, your suppliers are likely to be doing the same for you. If your credit score slips below 80, red lights will start flashing. Interest rates might go up, the bank will start to ask questions, lenders might call in their loans, suppliers may withdraw credit. The life of your business will get a lot more difficult. What Affects the Business Credit Rating? You are probably aware that you need to make payments on time and keep on the right side of the law and regulation. You may...

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Will Unemployment Hurt My Credit Score?

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As everyone already knows, the US unemployment rate has been strikingly high over the few years, resting at 9.8% in January 2011 according the US Bureau of Labor Statistics. That’s down from a high of 10.6% in January of 2010, but our nation still has nearly 1 out of every 10 citizens unemployed. As if life wasn’t tough enough already for US consumers, creditors have tightened up their approval requirements. Yes, finance and refinance rates, especially in the home mortgage industry, are as low as ever, but hardly anyone has the credit score to get approved. This has left many...

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What Software Is Available to Repair Credit?

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As you no doubt already know there is no way to repair your credit strictly speaking. Hence there is no magic “repair credit” software. Having said this however there are a few tools you can use to help you in your quest to improve your credit from this point forward. The first will help you to repair your credit is a tool to help you pay your bills on time. Chances are you already have this tool available to you, you are just not aware of it. The bank or credit union that you work with most likely has an...

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Getting Business Lines of Credit

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If your company needs to have extra funds available for day-to-day operations then it may be advantageous for you to get some type of line of credit. However getting business lines of credit can be difficult if you do not understand what is expected of you. If you do not have a business plan already for your company I highly recommend that you create one now. First of all this has many advantages in that it lets you quantify where you are doing well and perhaps see where you are not doing well. It also is a great way to...

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