Nobody really likes to think about the Business Information Report - credit report, even if your credit is in good standing. Imagine if things go wrong. Maybe in the first place, you didn’t really understand your report and solve that problem. If you’ve never made your credit report before, the anxiety can be even worse. So, to prevent the problems, here how to analyze your business credit report,
When you check your business Information report, make sure you don’t miss these steps.
1. Verify your company information.
Check your basic company profile, SIC numbers, and such other updated details. If the report lists the wrong details, then that can impact your score and any other lending decisions.
2. Check your score
Next, you need to look at your credit score. The credit score will vary between the credit bureaus. Here are some general credit scores break downs,
- 300-629: Bad
- 630-689: Fair
- 690-719: Good
- 720 and up: Excellent
No matter what your score is, all you need is to understand it and how to improve it. You can improve it by focusing on your payment history, your total debts - Debt Recovery, and the length of your credit history.
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