Category Archives: Credit Scores

Business Credit for the Small Business Owner
About 75% of American small businesses operate as sole proprietorships. They have all the business licenses they need, but are not legally structured as a Partnership or a Corporation (S-Corp, C-Corp, LLC). And as a sole proprietor, your personal credit and business credit are one in the same. You may have a separate checking account for your business (which is a VERY good idea). But if...
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How Social Media Affects Your Credit Score and Financing Opportunities
FICO is the gold standard for calculating credit scores. But because of how FICO scores are calculated, they make a lot of consumers “unscoreable”. The answer? (According to banks and lenders around the globe…) alternative credit scoring data. Data that can come from utility companies, landlords, cell phone records, and even your social media accounts. Yes… your activity on social media affects your credit score...
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Understanding Your Utilization Ratio: Tactics for Success
There are five factors that are calculated into your credit score: Payment History, Utilization Ratio, Length of Credit History, New Credit, and Credit Mix. Today, we are going to focus on Utilization Ratio. Your Utilization Ratio accounts for about 1/3 of your overall FICO score  - so it is important that you understand what it is and how you can improve it. Your Utilization Ratio, also commonly...
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