Credit Score Monitoring And Starting A New Business

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Credit Score Monitoring And Starting A New Business

For those planning to begin their own business, credit rating monitoring is an important and also must-do step, which helps protect a businesses’ ability to be lent from lenders, at competitive interest rates. When you get a deeeper understanding of the need for credit score monitoring, a business owner must first analyze how their business credit profile is made, and learn exactly what the score really indicates, as well as find out exactly who looks at it. Here are some facts about credit score monitoring and starting a brand new business.

What’s A Enterprise Credit Score?

Every business thing that borrows will generally possess a business credit profile, that the business credit score will be taken from. While numerous firms track business profiles, the main enterprise profile tracker is the Paydex system, which operates like the FICO rating for personal credit score.

Exactly why Monitoring The Credit Statement Is Important For Small businesses

One of the most important aspects in which aspiring business owners needs to do, is keep an eye on their credit report. By looking into making sure that their credit report is in stable situation, aspiring business owners can easily increase their chances of receiving business loans which offer flexible interest rates. Every person will be entitled to a free credit statement each year, and a good place to start checking on your own credit rating is by exploring three major credit agencies like Experian, Equifax and TransUnion.

How you can Monitor Your Business Credit Rating

When monitoring your company credit score from techniques like Paydex, you need to be aware that the Paydex score rates how early, or perhaps how late, you fulfill your debt obligations. For example if you get a 70 on the Paydex method, this indicates that your customers are 15 days past due when making loan payments, and can certainly be considered an undesirable score. However, in case your business scores an 80, this will indicate that your business pays its debts on time, or pays all of them in advance.

How Loan providers View Your Business Credit Report

Most business creditors today expect their customers, or just about some other business entity, to have a Paydex consideration, as well as a business credit rating. Most lenders take a critical look at a company’s business credit score, before thinking about to lend all of them any amount of money. Credit specialists suggest that you start constructing on your Paydex score coming from 3 to 6 months beforehand, before you begin applying for the loan.

By monitoring your small business credit score, you’ll be quickly notified whenever your report needs to be improved. The simplest way for improving your business credit score includes paying your obligations as well as loans ahead of timetable. Once you get a rating of 80, this can indicate that your business is paying its lending options on time. By making sure that you pay your financial loans and obligations early, your business credit score should easily move up inside the most reasonable period of time.

Comments: 62

  1. Elizebeth February 11, 2013 at 8:08 pm Reply

    I am a 31 year old single female with very good credit. I rent now but probably around the age of 35 if I am not married I will want to buy a house in either Maryland or Virginia. What do I need to start doing now to buy my own home? I don’t know anything about mortgages or credit or that % stuff so please explain to me in very basic almost 1st grade details. Thanks so much in advance.

  2. Maxwell February 12, 2013 at 7:31 pm Reply

    I recently took out an auto loan and am soon applying for a business loan so I figured its time I reviewed my credit scores, which I usually do twice a year. (When they checked my credit at the dealership the guy told me it came back 810, but I don’t know which credit bureau they used so I won’t use it as a base of comparison). The first site i went to was powered by, thinking I would see all three scores on the free trial, but they only showed my Experian score, which they show as 793. Wanting to see my other scores I went to and started a free trial with them. This was literally 30 minutes later and they show my Experian score as 761 (the other 2 scores it shows are within a few points of this). I guess my question is how can a score from the same bureau come back with 2 different scores, 32 points apart on the same day?

  3. Apryl March 1, 2013 at 4:37 pm Reply

    I’m 17 I Had a Job ever since i was 14. I have a checking account and a Savings account with Wachovia I need to know should I start my credit with a cosigner. The cosigner will be my mom, her credit is perfect, she doesn’t even have a credit card she just does a lot of business stuff. I can afford to make monthly payments if I do have a credit card. I have been saving up for a while. I just want to start my credit line so by the time Im done with college I established a good credit history. I called my bank once and they said that I could start my credit as a minor but I just need a Cosigner, but before when I called my bank last month i was told that you have to be 18. I just need some opinions. Thank you
    There is this thing between my parents where they would buy you what ever i need but the thing is that they wouldnt except the money from me and also they would just start complaining about the things that i buy i basically just want to start my credit to build it i mean i already have a a checking account and a saving a i already have a debit card to order or buy what ever i need to buy but i want to start a credit history

  4. Frederic March 8, 2013 at 5:12 pm Reply

    Well I’ve been trying to do the whole community college transfer route and it’s just not working. In fact, it’s the biggest scam in education. I recommend anyone who has a chance to go to University straight out of high school jump on it no matter what the cost is. JC’s only lead to burn out and you’ll never get a degree.

    So basically here’s my deal, I came out of a very bad high school experience too depressed to carry myself through college and I’ve never recovered. I don’t have any medical insurance to get treatment. I’ve never been able to handle a full load of classes because I get emotionally overwhelmed and burnout halfway through the semester. Over the past few years I have managed to rack up about 40 units and keep my GPA slightly over a 3.0. I’m in Socal, and unfortunately Cal State’s want transfers to have at least 60 credits. My SAT scores are horrible because I have a math-based learning disorder that my writing scores only barely made up for. To add insult to injury, I have no money.

    I’d really like to go to college, I want the college experience of a dorm and college life and a degree that will allow me to have a sustainable income since college grads make something like 10k more a year. I’m not too concerned where I go anymore, just as long as it’s a decent accredited institution. Like I said, I don’t have too much money, I’m not an excelling student, and I have some problems I’m trying to work through on my own. I know a lot of schools don’t require 60 units to transfer but a lot of them are private and hence very expensive. Is there anyway, given my circumstances, that I can somehow go to college? If so, how?
    No I’m not going back to a JC. The environment is what’s killing me. I need to be immersed in the school environment to do well and the JC can’t provide that. It’s either 4 year college or drop out. I said I have solid straight B’s, just a lot of W’s. Like I said, I want to make this work but the JC isn’t working. A list of colleges who accept lower division transfers might be helpful.

    Please serious answers only. I will report people who answer in single sentences for points.
    Twinky, your answer was like one big sigh of relief for me. Thanks a lot for answering, you were definitely not rambling.

  5. Laree March 13, 2013 at 12:07 am Reply

    Thank you for taking the time to read this. I am interested in starting a home based, web driven, small business my questions are, where to begin? How do I go about getting a TIN? How does a small business get funding, in terms of credit? Thank you in advance!

  6. Lance March 15, 2013 at 3:31 pm Reply

    What does your credit score have to be in order to be approved for a secured loan. Mines is bad it’s 650.

  7. Errol March 15, 2013 at 3:31 pm Reply

    Currently my credit score is 655. I have 4 cc’s and have not gone above half of my credit limit. I always pay at least double my minimum payment. I do have 1 negative thing on there from 2003, it does show it is paid tho. What are ways to get my score better. Right now im right on the brink of the fair category almost in good, but I want excellent credit. How can I do this?

  8. Lonnie March 22, 2013 at 8:47 pm Reply

    Hey guys, I applied for a used loan and got approved from a dealership about 2 hours away. He needed me to fax my paystubs, bank statements, cell phone bill, and 10 references.. well I didn’t hear from him since, other then him telling me “we got all your paper work, come down to the dealership.” And he told me to come down this Sunday and he’ll have the car ready.

    Anyway, the place is run by hispanics, and haven’t from him since. I’m worried he took my info and maybe is trying to do identity theft, but no real evidence yet. Anyway my credit is 460 so I know they can’t do much with that. But what is my first step in finding out if they have done anything, or take precautions to make sure they don’t?
    It was a buy here-pay here so they needed all of the info for the loan
    He also needed copy of driver license and social security card.

    Unfortunately these people don’t have to carry green cards.

  9. Aaron April 3, 2013 at 6:32 pm Reply

    And you go to another dealer and was appoved but changed your mind about the deal?

  10. Reynaldo June 4, 2013 at 8:21 am Reply

    I am 25 and have never had a loan or had a credit card. I am very good with money but the banks don’t know what as my credit rating must be non existent.

    Should I borrow $5000 or so (which i easily can pay off immediately) and keep it for a few weeks then pay it all off, to show the banks I can pay my debts? The interest must be minimal so are there any negatives to this?

  11. India August 5, 2013 at 2:08 pm Reply

    Foreigners with good credit abroad moving to the UK start with zero credit rating.

    How is this improved quickly to get credit cards and mortgages?

  12. Micah August 11, 2013 at 8:54 am Reply

    I did my research and I realized that i have a good credit report standing.

    I only have 2 accounts that I am currently using.
    Out of those two, for one I do have a balance but I always pay my bills on time except for two times when i was late because, the credit card company gave me the wrong due dates
    They did remove the late fees however.
    But 7 open in total.
    5 unused
    Two of them are sallie mae for school
    and the other
    1 for victorias secret- never used it. If I do use it I pay it once the bill comes
    and the other two i dont plan on using.

    Does that mean I have a bad credit score?

  13. Angelo August 14, 2013 at 7:17 pm Reply

    What role do the credit rating agencies play in a bond issue?

  14. Domingo August 29, 2013 at 1:56 pm Reply

    I recently lost my social security card and I’m scared now that if someone gets a hold if it and they ruin my credit score, my whole future will be ruined. Im only 21 and i have a business, im in school and i have a lot of big plans for myself including buying a house and nice cars. But now I’m afraid that if my credit was completely ruined and we never found out who did it, that my life will be worthless with out good credit. Also will my life ever be the same? What are the proper steps for handling a situation like this. I want to handle this ASAP! What should I do and where do I start!

  15. Galen September 20, 2013 at 4:45 am Reply

    Growing up, i never was taught how to budget or even to balance a check book. Started working at 15 and lived on my own since I was 16. When I was 18, I obtained my first credit card which I maxed out. It was for an airline company that is no longer in business, and I believed that my cc debt was erased because of their bankruptcy.. Dumb, I know. I then had a Macys card in which I defaulted in. I had a loan for a truck that was reposed in 2008. But i quickly paid that off and got the truck and title back. I settled with collections on the airline credit card and paid off and closed the Macys card. I had a few here and there medical bills that were in collections as well, and are now paid off. Fast forward roughly 5 five years later and I have no debt. I no longer have ANY credit cards or unpaid bills. I pay all my bills on time monthly. (Electric. water. rent. cellphone) However, my credit score remains in the low 400’s and I cannot get a credit card, or loan for the life of me. I would like to increase my credit score so that I could one day build a home and receive better things in life. I live by cash only at the moment and have learned alot on being financial saavy over the years of struggling with debt. I am asking for help!!! please, im stuck in a situation where i cant seem to move forward with credit. I know for a fact that I am much more responsible today than at 18.
    i recently pulled my credit report beginning this year to make sure everything was accurate. it is, and my credit is still so bad.

  16. Deedee September 25, 2013 at 10:32 am Reply

    I am 19 and a student with $7,000 saved up. I still live at home and have very little expenses. I bring home about $135 a week from a part time job. I save most of it.(I also get about $1500 each year from a scholarship) I have no debt of any kind. I am just starting to build up my credit, by getting 2 credit cards last year. I always pay them off and I can tell that my credit is building because I am getting more cc offers with lower interest rates and my credit line is increasing. Anyway, I live in an extremely cheap living area where I can get a starter house(ones that I want) from around $25,000-$45,000. I was just wondering if any bank or other place would lend me the 80-90% of the asking price that I would need to buy a house. If not, what are some other ways of financing the house(without exhorbitant interest rates). After all, I would only need like $25000-$40000, at most. Thanks

  17. Bryce October 7, 2013 at 12:20 am Reply

    A friend of mine was recently told by a government employer ( PRISON SYSTEM) that he could not be hired because of his poor credit rating, is this a joke? What credit rating would you give the government WHO IS BROKE?

  18. Laree November 8, 2013 at 12:33 am Reply

    Sorry, I don’t get this at all. Why do some prospective employers check out your credit rating before they decide to hire you? What does your credit rating have to do with whether or not you will be a good employee?

  19. Horace November 8, 2013 at 10:43 am Reply

    A charge card is not a credit card there is a difference between the two.

    Charge card definition: A card that charges no interest but requires the user to pay his/her balance in full upon receipt of the statement, usually on a monthly basis. While it is similar to a credit card, the major benefit offered by a charge card is that it has much higher, often unlimited, spending limits.

    Credit card definition: A card issued by a financial company giving the holder an option to borrow funds, usually at point of sale. Credit cards charge interest and are primarily used for short-term financing. Interest usually begins one month after a purchase is made and borrowing limits are pre-set according to the individual’s credit rating.

  20. Traci November 17, 2013 at 4:44 am Reply

    I closed my gold card down this morning and i want to take out a new CC with better rates. How soon will my credit rating be altered for the better after requesting the termination of a credit card?

  21. Keith November 18, 2013 at 12:17 am Reply

    if there is anyone that can help me please let me know how. thank you and god bless

  22. Dee November 19, 2013 at 1:52 am Reply

    I believe that employers should be forbidden to fire/hire based on a person’s credit history, credit report, or credit worthiness. Frankly, I hate all the credit rating agencies (Equifax, Experian, Transunion, Moody’s, Standard & Poor).

    There is no transparency. There should be a law where we know exactly how it’s calculated. What do you think is the best way to start a war against these companies?

  23. Luis November 19, 2013 at 1:53 am Reply

    Doesn’t the credit rating reflect the ability of a nation to pay back debts? However, FDI is investment in the countries firms, not the government. If the credit rating reflects the government’s ability to pay back debt, why would that deter investment to firms in the nation?

    Second, Where is the limit at which a government finds it necessary to default? How far can a nation go, and why is that the limit?

  24. Reynaldo November 19, 2013 at 4:08 am Reply

    I’ve checked my credit rating on experian and it’s average. Would I be able to get credit to buy a car or would the deals be rip off’s?

  25. Joelle December 1, 2013 at 2:48 pm Reply

    credit anymore? i dont know what to do im so stressed out over it and i feel so foolish for making all these small payments
    im so stupid and i cant seem to get a better job

    ok well ive been dealing with trying to pay for my credit card from AMEX for over 2 years but i couldnt keep up with their scams and hidden fees and B.S. and i wasnt making money for w while thats why it became so big and overwhelming

    now i had to join bank of america and they had to pay off the credit card for me so now i owe B of A money. i think im paying 7% interest which is the lowest possible fee. at first i was paying the minimum of 35 dollars
    but now i have to pay 58 dollars a month

    i owe over $3000 and im not getting anywhere by paying the very minimum. i even have to pay $53 this month and i dont even feel like it because i dont think i care

    can someone please help me? everyone in my family is a moron and not any better than i am financially

    pleaseeeeeee heeelllppp

  26. Oswaldo December 1, 2013 at 2:48 pm Reply

    Investors have ways of learning the credit rating of companies whose stock they want to purchase. Where can I find this kind of information about a bank I want to open an account with? What is my bank’s credit rating. It certainly knows mine.

  27. Armanda December 1, 2013 at 2:48 pm Reply

    I’m not sure if it varies from country to country (I live in Canada), but was wondering what some of the factors that go into a credit rating are. If someone could explain what sort of equation they use to come up with it, that would be great too.

  28. Rey December 1, 2013 at 2:51 pm Reply

    The deal is, it’s only free if you look at your score and then cancel the service within 9 days. They sent me a number to call where I’m supposed to be able to do that, but it keeps routing me to the wrong people- instead of freecreditreport people, I get some business called El-Com or something. They can’t help me, and they say they get the wrong callers routed to them all the time. They tell me to wait 10 minutes and call back to see if I get routed to the right place, but I never do. If I don’t get the service canceled in the next few days, I’ll start getting charged like 20 bucks a month. Has anyone else had this problem? What can I do? Links or alternate numbers would be very helpful. The number that hasn’t worked so far is 877-481-8826. I want my free credit report to actually be free, so please help me out. Thanks!
    Thanks, the other number worked. I got it canceled. Thanks for the help!

  29. Brady December 3, 2013 at 10:26 pm Reply

    I need to get a copy of my credit report and credit score. I have one from back in april, because I wanted to try and buy a house. Now I need mine and my bf’s. We got it for free then because I went through a broker and he sent them to me for free. I was told from a friend of mine that is a banker to go to Which I did, but the site is having problems and you arent able to print it out right now till the site is fixed. So you have to call or mail, and receive it by mail which will take 2-3 business days, and I need it this week. asap! Any ideas of where I can get it, with out paying a ton or free would be great.
    I also went to and paid the $1 but then in order to get it from all 3 credit comp. they say…updgrade now and pay $39.99 etc etc.
    Please help
    thanks 🙂

  30. Mohammed December 23, 2013 at 11:19 am Reply

    I just went to one presentation and I wan to know if the are for real.

    They offer to establish lines of credit for businesses even if you are starting with a new business. Apparently they are located in Nevada but offer their business across the nation.

    The presentation I went to was given by someone that works in a marketing company call Debt Diet…

    Please, only respond if you actually have an experience with them or you know someone who has.

  31. Latia January 5, 2014 at 2:23 pm Reply

    I’ve been a BoA user for 10 years now. Started with the college checking account (got it though when I was 15), have 2 savings accounts, and a credit card with them for 8 years. I just moved and I’m wondering if I should continue using BoA or switch to a local community bank. I personally have never had a single problem with them, they have been super awesome monitoring my credit card (would easily remove fraud charges and get me a new card with overnight shipping), and don’t think I’ve ever accumulated a fee on any of my accounts. (other than interest charges once in a blue moon should I carry a balance on the CC)

    Yet BoA is consistently one of the most hated companies in America, not only having terrible user review scores, but bottom of the list rankings on quality banks, almost always scoring as one of the, if not the worst, banks in america.

    I’m not super business savvy, so can anyone explain why Bank of America has such a bad rap sheet? If you asked me, I used them for 10 years and never had a single issue. Even their customer support through phone and email is pretty darn good. What am I missing?

  32. Kylee January 11, 2014 at 12:23 pm Reply

    Does getting declined for more credit affect your credit rating more than just making the minimum payment each month to your loans and credit cards,and will my credit rating be poor for as long as i have a default on my record for?

  33. Eusebio February 19, 2014 at 10:35 am Reply

    I went through a bankruptcy in 2005, but have had 3 seperate car loans through my credit union since that time. They have been so helpful, and I am grateful for them. My % rates went from 16% to 8% on the current one ($12,500/4 years). The previous two were for $3-5k, and I paid them off in full when I sold the cars.

    Here is the question-I didn’t keep either loan for more than a year, and they said that it didn’t affect my credit score greatly because of that reason. If I had kept the loan running for over a year, it would have been better. Now, my current loan started last July, and I would like to drop the $300 monthly payment and drive something cheaper for now. How much will this really affect my credit score? If I keep the loan just over a year and sell the car to pay off the loan, won’t my debt-income ratio be much better than if I had the open loan?

  34. Sherwood February 21, 2014 at 5:04 am Reply

    Our problems started when our car broke down and we charged it to the credit card because we didn’t have money to fix it on my husbands military income, realizing that I got a job working nights so we could save on childcare because my husband would be home.The first few months I worked it was fine, we saved some money ect.But they reduced my hours so we made adjustments too, no more cell phone,cable,eating out, ect. At christmas we didn’t exchange presents and had a family day instead because we were short on money.But now that our car broke down again and our finance charge on the credit is killing us to the extreme we now even placing my dog that I had before the kids were born cuz I cant afford to feed him anymore,my kids are in hysterics over this.I love my dog too, but it hurts more knowing my husband and I are both good people and hardworkers that have just fallen on hard times.We would take out another credit/loan but we can’t afford to pay that right now.Any other advice?

  35. Brady February 21, 2014 at 9:29 pm Reply

    hiya i checked my credit rating earlier and its saying very poor what ways can i build my rating up again and how long would it take roughly i cant believe its so low. im only 20 could it be something i forgot to pay when i was younger.


  36. Darwin February 21, 2014 at 10:06 pm Reply

    WHY IS IT that when applying for a loan, a bank can receive your credit ratings for their own use, but cannot tell you your own credit ratings.? WHY?

    WHY IS IT, that if a person wants to look up their own credit ratings which are extremely effective to their financial stabilty have to pay for their credit reports? Usually a person gets a free report for one month, but then has to pay after that. WHY?

    WHO is it that made it law that you cannot freely obtain your credit rating, yet someone else can get your credit rating and not be required to tell you what it is even if you are standing right in front of them? WHO is the genuis?

    WHY do I even have to ask these questions? You cannot say no one else thinks this is wrong and that no one in some type of government authority is also thinking this is wrong, so why hasn’t this act of stupidity been corrected? WHY?

  37. Herman February 22, 2014 at 2:33 am Reply

    I started a small business 6 months ago that has been very successful. I have a business bank account, but have not done anything else to establish credit for the business.

    I would like to lease a vehicle in the name of my small business and am curious if my business credit score would be too low?

    Does anyone know a general guideline on how quickly a line of credit is established for a small business?

  38. Gwyneth February 22, 2014 at 2:40 am Reply

    I’m new to this whole credit nonsense. My question is; Should I sign up for Credit Monitoring/Restoration when I don’t have a Credit Card? I have a Visa Debit…

    Is this a stupid question???
    Ahh, thank you everyone. =)

  39. Ingrid February 22, 2014 at 4:39 am Reply

    i would like to know what is a good apr rate, and what does apr mean? is that the interest?, and i’m new to credit, anyone know a good online place where to get a credit card like mastercard, discover, american express? thanks
    i dont want mean answers please………and if you do, your probably the ones who are thousands in debt

  40. Alise February 22, 2014 at 4:48 am Reply

    I am a U.S. citizen living an working abroad in south Korea. My husband is Korean and we are here because it is easier for him to earn money here. After 2 years we plan on going back to America to open our own business, but we would like to earn credit before then. As an immigrant, my husband has no credit. As for myself I have never had any credit cards or loans, however I got a credit report which stated my score was in the 700s somehow. I graduate college last year, and i know my score could have possibly changed since then.I will be visiting home for a month in march. I was wondering if my family were to help me get a loan to ‘buy’ my car ( which is in America) from them during that time as well as getting couple prepaid credit cards, while using my American bank account to pay them off, will I be able to use those to build credit while I am in Korea? My official address is listed as my parent’s American address, if that’s important at all

  41. Kathryn February 22, 2014 at 4:54 am Reply

    My husband and I would like to buy a house in the near future but have recently found out that I have a poor credit rating. When I was 18 I helped out my mother by becoming a 2nd applicant on a number of loans that she took out to get ahead. I was unaware until now that she has never paid a cent on these bills and they are all defaulted against my name including a few court judgements. My mother hid my mail and screened phone calls so that I never found out about it. It wasn’t until my husband and I started looking into homeloans that we found out. Do I have any legal rights in this matter. I simply did as my mother told me to when I was 18 and now I could be paying for it for many years to come and my husband and I look as though we will be unable to buy a house. We are expecting our first baby in Feb so this is rather distressing. ANY advice would be very much appreciated. THANKS!!

  42. Jacque February 22, 2014 at 5:28 am Reply

    What tips can you give me for building a good credit rating?

  43. Trista February 22, 2014 at 5:28 am Reply

    I just checked my credit score today and I’m at 729 with a rating of “fair.” How can I improve that to good or even great?

  44. Moira February 22, 2014 at 5:59 am Reply

    I just started a credit consulting business. I used to work for an agency through which I learned how to help people keep their credit scores high. Simple stuff but some people dont have the time, patience or knowledge to do it. I am a small profit company and I have lots of customers. I wanted to know if there is a credit pulling software out there that I can use (legally of course) with my business?

  45. Gayle February 22, 2014 at 6:49 am Reply

    and is it free or is there a fee?

  46. Josephina February 22, 2014 at 6:50 am Reply

    I find it very hard to accept the fact that these credit reporting agencies are keeping tabs on me and my actions, yet I can only get a copy of my credit report once a year for free, or if I was denied credit. Shouldn’t pertinent information like this be as accessible as something like my bank account?! With things like identity theft out there, and the amount of time it takes to fix such a problem, wouldn’t it be logical to always have access to YOUR OWN information?! I think credit reports are taken way to seriously when it comes to current lending. The banks need all this bailout money, yet they are turning away customers who have the money to pay for a loan but are denied because of a couple credit blemishes. Maybe they should abolish these credit reporting agencies and start looking at people’s finances instead. Wouldn’t it be smart for Lenders and Financial Planners to team up to provide the best help and information possible to consumers when looking to take out loans?

  47. Lucia February 22, 2014 at 8:53 am Reply

    Member since: April 21, 2007
    Total points: 3,982 (Level 4)
    Points earned this week:
    –% Best answer

    S Shared Loan Info..?
    If I get a loan with my BF for $1500 and I have great credit is credit isnt, will my credit grow as we pay on it, or will it go down immediately because im taking on his low rate. He is good for the 1500 but im talking about in terms of my credit rate with me being the primary holder. Once its paid off, will my credit be better than before , or not as better because of his credit?

  48. Avery February 22, 2014 at 9:01 am Reply

    How does increasing credit lines on my credit cards affect my credit rating?
    * Assuming of course I pay all the balances off clean each month. I should rephrase to, “how does having higher AVAILABLE credit affect my credit?”

  49. Tory February 25, 2014 at 11:28 am Reply

    Is it the same as credit score?
    What is credit rating used for?
    And what affects a person’s credit rating?
    I think this is just for a person, not a company. Can anyone help me?
    And please list your sources. Thanks!

  50. Jody February 25, 2014 at 11:28 am Reply

    i need a credit card, not particularly much credit needed say £1000-£2000. i can handle the card just want to boost my credit rating from when i was younger. would like some sort of interest free period even if like couple of months.
    can anyone steer me in the right direction, thanks

  51. William February 25, 2014 at 11:51 am Reply

    I am 20 years old and I want to unsubscribe from Setanta subscription sports channel.

    Now Setanta are infamous at trying to wriggle out of and delay subscription (google Setanta unsubscription and see the numerous tales).

    Now what people have said they’ve done is cancel their direct debit at the bank to force the unsubscription….But Setanta often respond with a threatening letter saying to reinstate it or we’ll damage your credit rating (obviously they don’t word it quite that direct).

    Anyway, seeing as I don’t have a credit card yet (i use debit cards), or have got on the credit ladder, can they ‘damage me’ credit wise if i don’t have a credit card???

    I don’t fully stand a lot of financial things yet. Can UK people answer please
    Well Setanta say to give them 2 months notice to subscribe. This i plan to do shortly in a letter. Then I am planning to cancel my direct debit if 2 months after the letter they STILL have not cancelled it. By doing that I can say I told them.
    There terms and conditions are that they have 2 months advanced notice of when you want to unsubscribe, so it’s not as if I’m pulling the plug and breaking a pre-approved contract. I am playing by the rules

  52. Yessenia March 21, 2014 at 7:53 am Reply

    I am 20 and looking to build up a good credit rating, whats the best way to improve it?


  53. Rodger March 21, 2014 at 7:54 am Reply

    I turned 18 4 days ago and i want to start building my credit rating. i have been working for 4 years and have had wages paid directly into my bank for about 2 years. Yesterday my bank upgraded my account and approved an overdraft of £50, but i have been declined accounts with both Littlewoods and Choice catalog. My plan was to buy something cheap and pay it off evrrty month just to start building my rating.

    Does anyone know how i can start building my credit rating up? If you recommend a credit card, which one should i go for?

  54. Tommy March 21, 2014 at 7:56 am Reply

    My husband is a professional truck driver. He doesn’t have great credit due a long period of unemployment leaving him unable to pay a couple credit cards off. He has been driving for 5 years and knows the industry well.

    After a long period of consideration, we decided that we would like him to have his own truck and to become an Owner/Operator for his current employer. This benefits us because we would have a more well maintained truck (read a safer truck) and be able to find our own “back haul” if the company dispatch is dragging its feet. Finding our own loads occasionally reduces downtime and increases income.

    My husband would like to purchase a gently used truck and we have found quite a few candidates for very reasonable prices. My brother-in-law, bless him, is considering buying the truck for my husband. We would be makig the payments to him for a much lower interest rate than to a finance company.

    Here’s the problem….BIL wants us to send him a presentation. He is a graduate of U of M with a Masters in business. I have never done such a presentation and wouldn’t know where to begin. Any ideas? Are there services that could put something together for us for a fee?

  55. Mack March 21, 2014 at 7:56 am Reply

    I know its rubbish but I would like to make it ok again. How can I increase my credit rating?
    I am based in the UK.

  56. Ping March 21, 2014 at 7:56 am Reply

    i tried to get a credit report for me and cant find anything. he says i have bad credit because i married him. but my mom and step dad have 2 different credit scores, so im a little confused and i want to get out on our own. please help.

  57. Towanda April 23, 2014 at 5:46 pm Reply

    I have a near perfect credit score. My girlfriend has a dismal credit score. If we were to get married and buy a house, do they combine our scores and created an “average” score to calculate our rate? I would like to use just my score for the best rate but be able to combine our incomes to buy a better hoiuse. Is this possible or common?

  58. Bula June 17, 2014 at 8:15 am Reply

    I have a credit card I hardly ever use because of the high interest rate. I do not owe anything on it and I have another card in good standing. If I cancel the high interest card, would that impact my credit rating, positively or negatively?

  59. Carrie June 18, 2014 at 12:12 pm Reply

    I used to pay the balance of my credit cards but was always late. I corrected this problem and am paying them off as soon as I receive the bill. How long will it take to repair my credit rating and should I close all those credit cards that I no longer use. I was told the old accounts that haven’t been used in years don’t really count. Is this true or should I close them?

  60. Lavern June 19, 2014 at 7:16 am Reply

    Where can I find online information on credit rating scores so I can see if mine is good or not?

  61. Marcelene June 19, 2014 at 8:48 am Reply

    Ive never had a phone on contract and i’ve never had a catalogue. These are the things i want to get but can’t because of no credit rating.

    I do pay a virgin phone/internet/tv bill each month.

    I need to know what to do, to get a credit rating??

  62. Corie June 23, 2014 at 4:11 pm Reply

    They say the U.S. may lose AAA credit rating what is that?

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