Admin Manager - Sunday, February 04, 2018
Business credit is credit in a business name that’s linked to the business’s EIN number. This is credit for your business, that’s not linked to you personally, or your personal SSN.
Using your business credit, you can get vendor credit cards, high-limit accounts with most major retailers, fleet credit, as well as cash credit for your business including Visa and MasterCard.
You can get approved for business credit accounts regardless of personal credit quality ..
Admin Manager - Saturday, December 30, 2017
One of the main criticisms of credit scoring is the large variation between credit scores, recent studies have shown scores to vary as much as 100 points between credit bureaus.
King Financial Repair listed the three main reasons for this:
1) Not all creditors report their information to all three credit bureaus, and if they do, they may not report the same information at the same time to each agency. For instance, let’s say you have a credit card that you have ha ..
Admin Manager - Sunday, December 24, 2017
Almost all business loans are now coming from Alternative Lenders. So, you can often get approved with an alternative lending source when you can’t with your bank and even when you think there’s NO WAY you’ll get approved!
Alternative lending options now mean you can get approved for a business loan even if:
You have REALLY bad personal credit, you have no business credit or you don’t have any types of collateral
You are just starting a business, you don&rsq ..
Admin Manager - Sunday, October 15, 2017
The most widely used credit score is the FICO Score, but, what is it?
The FICO score is a mathematical model that is used to depict a consumers' risk of going 90 days late on an account within the following year. Lenders use the FICO Score to help them make credit decisions every day.
FICO calculates the FICO score based only on information in consumer credit reports maintained at the credit reporting agencies. FICO credit scores range from 300 to 850.
That FICO Score is calcula ..
Admin Manager - Friday, October 13, 2017
FICO is a business analytic software company and is based in San Jose, California. FICO was founded by Bill Fair and Earl Issac in 1956. Their FICO score has become the main credit score used to determine consumer credit risk.
FICO went public in 1986 and is traded on the New Your Stock Exchange under the ticker symbol FICO. The company debuted its first general-purpose FICO score in 1989. Scores are based on credit reports and range from 300 to 850. Lenders use the scores to gauge a pot ..
Admin Manager - Monday, September 25, 2017
First of all you want to start setting up your business entity. You can do this by thinking of a business name you want to have and searching your Secretary of State records to see if it’s available (also consider searching Go Daddy to see if that company name is available as a web domain).
Once you confirm the website and name is available, you can go ahead and setup your entity with your Secretary of State, costs usually range between $60-$600 and setup a corporation or a LLC.
Admin Manager - Sunday, September 17, 2017
It is highly important that you know lenders and credit issuers will often automatically deny you for business credit based on you not meeting their approval standards and that there’s a formula you must meet for approval and if you meet it, you’ll often get an automatic approval, or a decline if you don’t.
This is one of the most common reasons for loan and credit card applications being denied: when the lender can’t easily locate your business onlin ..
Admin Manager - Sunday, September 10, 2017
Business Credit, also called “Corporate Credit”, is the credit that is obtained in a Business Name with business credit the Business builds its own credit profile and credit score linked to the business EIN number… not the owner’s social security number and with an established credit profile and score, the business will then qualify for credit.
In this case, the credit is in the business name and based on the business’s ability to pay, not the business owne ..
Admin Manager - Tuesday, November 01, 2016
The Federal Reserve has raised interest rates substantially over the past two years. Consequently, credit card annual percentage rates have followed suit. Nearly all credit cards tie their interest rates to the prime rate, which has doubled to 8% from 4% during the string of rate hikes that began in 2004. This has led to interest rates on credit cards rising by 30% or more. Since August of 2006, the Federal Reserve has kept interest rates steady and many economists believe the next move may be a ..
Admin Manager - Tuesday, October 25, 2016
During the days when the Federal Bank interest rates were at its lowest, back in 2002 and 2003 to be specific, countless credit card providers offered 0% APR credit cards to many consumers. Needing only to pay the outstanding balance, smart consumers were able to charge credit cards up to their limits without incurring monthly interest charges. The question that some people were asking when these cards were at their peak of popularity was this: how do credit card providers make money off of this ..