Tips for a Good Business Credit Score
Adam Fingersh with Experian provides expert tips on maintaining a good credit score.
Why should entrepreneurs keep their personal & business credit separate?
One problem with relying solely on personal credit is that if the business ever becomes at risk, the associated personal credit score becomes at risk as well. Also, owners miss the opportunity to build their business credit profile.
Why is credit monitoring important for a micro- or sole- proprietor business?
Business owners need every tool at their disposal to avoid trouble and spot opportunities to grow. When success depends on the ability to build capital as well as protect the business from fraud, business credit monitoring can help.
A business credit monitoring service such as Experian’s Business Credit Advantage can help business owners become aware of the factors that drive their current business credit score and report.
What should an entrepreneur look for in a credit reporting service?
The ideal monitoring plan should provide unlimited access to a business credit report and score. Entrepreneurs also should look for cost-effective plans that provide access to realtime online reports. Most importantly, a monitoring plan should offer proactive notification alerts when key changes occur to the business credit report and score.
Such alerts can help protect the business and its owner from fraudulent use of business credit information (for example, someone trying to claim business ownership or open new, unauthorized accounts).
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