July 2, 2011, 8:17 pm
Updating the credit report will be an ongoing process – lenders send updated data regarding an account to the agencies. It depends on how may credit accounts and individual has and when there is a change in the credit data. The moment there is a change in the credit data, it will reflect in the credit score.
Earlier, lenders had to rely on their own assessment (internal) of a customer before giving any loans or even credit cards. But gradually the situation changed with the availability of individual credit information through CIBIL. Lenders fetched details on your credit worthiness from CIBIL. So whether you will get your home loan, personal loan, auto loan, credit cards or not and at what interest will be determined by your credit score. CIBIL, which has been operating in this space for a fairly long time, already has a large database of customers with their credit scores. Lending institutions dip into this database for assessing your creditworthiness. Be ready to accept the fact that your credit scores will be a key reason to determine your loan sanction. T
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June 22, 2011, 5:18 pm
Is bad credit holding you back?
Are you tired of getting turned down every time you apply for credit cards?
Even though you can easily start rebuilding and repairing your credit with a secured credit card I’m sure you would much rather start with an unsecured credit card instead.
Now don’t buy into those catchy advertisements or pre approved offers you get in the mail because no matter what you read it all boils down to your credit scores in order to get approved.
If your scores are in the 500s or low 600s then you should be very cautious when applying for new credit. You
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May 29, 2011, 7:45 am
Is bad credit holding you back?
Are you tired of getting turned down every time you apply for credit cards?
Even though you can easily start rebuilding and repairing your credit with a secured credit card I’m sure you would much rather start with an unsecured credit card instead.
Now don’t buy into those catchy advertisements or pre approved offers you get in the mail because no matter what you read it all boils down to your credit scores in order to get approved.
If your scores are in the 500s or low 600s then you should be very cautious when applying for new credit. You
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April 26, 2011, 1:51 am
Get an 80 paydex score and your business will be able to qualify for all the credit it needs.
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February 16, 2011, 4:52 pm
How do you build business credit fast?
In this short video I recorded with AllBusiness you will learn how to leverage your existing supplier relationships by adding trade references to your business credit file with Dun and Bradstreet.
Discover how you can not only establish credit history in a short period of time but also how to generate a business credit score fast. Watch this short video recording and let me know what you think:
Building Business Credit Fast
Video Summary:
- Leverage existing supplier relationships
- Add trade references to your Dun and Bradstreet credit file
Does your company have a biz credit report established with Equifax Small Business, Corporate Experian, and Dun and Bradstreet?
In order to truly present your company as a creditworthy business in the eyes of lenders you will need to have solid business credit scores with not one, not two, but all three major business credit bureaus.
What other ways are you building your business credit in record time?
Ready to build business credit fast? Become
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October 13, 2010, 7:28 pm
So, let’s take a look at the seven early warning signs that your business may be headed for credit problems.
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- Paying Invoices Beyond Terms This is a strong indicator that your company may be experiencing financial difficulty. While paying 7 days past the due date is pretty standard in the industry anything beyond that can have a negative impact on your credit files and scores. Avoid paying your invoices late at all costs and better yet pay them ten days prior to the due date for an even stronger credit rating.
- Higher Debt to Credit Utilization
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