Melville, New York

3 Tips for Building Up Your Business Credit Score October 29, 2018

Melville, Suffolk County
3 Tips for Building Up Your Business Credit Score, Melville, New York

Whether you’re launching a new startup, expanding your product line, or hoping to enter a new market, the success of your venture might depend on having a positive business credit profile. Lenders, potential business partners, and even some vendors will probably check your company’s credit reputation before going into business with you, so it pays to keep an eye on your score. Below are a few tips for maintaining a solid business credit profile.

3 Tips for Improving Your Business Credit Score

1. Get a Copy of Your Report

For a small fee, Dun & Bradstreet, Equifax, and Experian will provide a copy of your business credit profile, which will give you the information you need to start building your score. For instance, you’ll be able to see which accounts are working against you and find any mistakes that could be dragging your score down.

2. Make On-Time Payments

business credit profileYour debt payment history has a huge impact on your credit score, so getting your bills in on time is the easiest way to build a reliable reputation. If you have a habit of forgetting, automating your business credit card or equipment loan payments will bring your credit score back up over time.

3. Increase the Amount of Available Credit

Creditors are generally wary of businesses who use a significant portion of the credit available, so try to keep your debt utilization under 15%. Paying down outstanding debts is an effective way to start, but you might also try opening a new line of credit to improve your debt utilization ratio. If you do open a new account, however, it’s important not to use it, or you could wind up bringing your score back down.


If you’re working on building your business credit profile, You're Approved in Melville, NY, offers expert consultation services at your fingertips. Over the years, they’ve worked with companies from across the country, providing detailed advice and customized credit restoration strategies. Visit their website for more on their services and expertise, get more credit tips on Facebook, or call (631) 683-3303 to get started today.

Other Announcements, Events and Deals from You're Approved
4 Tips for Buying a Car With Bad Credit, Melville, New York
A poor credit history makes the car loan process much harder. Before you buy, there are steps you can take to repair your credit, such as reining in problem spending. Whether the more
3 Common Credit Card Mistakes to Avoid, Melville, New York
Credit cards can be fantastic financial resources, giving you the flexibility to handle emergencies and the tools to build your credit rating. However, they also make it easy more
How to Boost Your Credit Score Without Taking on New Debt, Melville, New York
If you’re working on rebuilding your personal credit score, many advisors and articles online will suggest taking on new debt to demonstrate your financial responsibility. While more
Frequently Asked Questions About Your Credit Score, Melville, New York
Your credit score is an indicator of your financial health. That’s why most lenders look at your credit history in detail when you apply for funding, whether you’re after a more