Help Your Business Weather the Recession
Raise Your Credit Scores with These Two Simple Tips!
Many of you probably run your business on credit cards these days. And if you are like most you run up a sizable balance and then pay it off each month. However, when anyone finances their business in this manner the credit reporting agencies only see the balance on your last statement.
There are two methods that may help raise your credit scores.
1) Pay off those cards a day or so before the end of the statement period. Then the credit agencies will see a zero or low balance.
OR
SMALL BUSINESS BONUS: I am only aware of two credit cards that will not report to the credit reporting agencies at all. Small business owners may wish to open a business card with American Express or US Bank instead of becoming a corporation in order to separate business debt from personal debt. Meaning, your personal debt will generate your credit scores and the business debt will not be reported and included in the credit agency formula for scoring.
Get the only truly free credit report from www.annualcreditreport.com. I suggest you get a report every four months, pulling from one of the three agencies at a time. This allows you to monitor your credit reports, monitoring is the best way to pro-active identity theft detection.
PLEASE SHARE THIS INFORMATION WITH FAMILY AND FRIENDS!
Their money depends on it too!
Call Marcia Waldburger, your Minocqua Mortgage Broker @www.MinocquaMortgage.com
Many of you probably run your business on credit cards these days. And if you are like most you run up a sizable balance and then pay it off each month. However, when anyone finances their business in this manner the credit reporting agencies only see the balance on your last statement.
There are two methods that may help raise your credit scores.
1) Pay off those cards a day or so before the end of the statement period. Then the credit agencies will see a zero or low balance.
OR
SMALL BUSINESS BONUS: I am only aware of two credit cards that will not report to the credit reporting agencies at all. Small business owners may wish to open a business card with American Express or US Bank instead of becoming a corporation in order to separate business debt from personal debt. Meaning, your personal debt will generate your credit scores and the business debt will not be reported and included in the credit agency formula for scoring.
Get the only truly free credit report from www.annualcreditreport.com. I suggest you get a report every four months, pulling from one of the three agencies at a time. This allows you to monitor your credit reports, monitoring is the best way to pro-active identity theft detection.
PLEASE SHARE THIS INFORMATION WITH FAMILY AND FRIENDS!
Their money depends on it too!
Call Marcia Waldburger, your Minocqua Mortgage Broker @www.MinocquaMortgage.com
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