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Avoiding College Credit Card Traps
Avoiding College Credit Card Traps Copyright 2005, http://www.yourfreecreditreportnow.com Author: James H. Dimmitt Congratulations college freshman! You’re about to embark on one of the most exciting times of your life. By now your parents,...
Bad Credit Student Loan - What To Do If You Need One
Are you concerned that bad credit will prevent you from going to
college? While it is true that finding student loans with
excellent interest rates is easier if you have a sterling
credit rating, bad credit student loan aid is possible....
CREDIT CARD BLUES
For the average American family, debt, and especially credit card debt is spiraling out of control at a record pace. The average household credit card debt has risen dramatically from $3000 in 1990 to over $8000 today. Personal bankruptcies are also...
Credit Repair Myths and Facts
There are no secrets to repairing your credit. Many shady credit repair agencies would love you to think the contrary. Negative items can be removed from your credit report and you can do it yourself. One does not need a credit repair...
Finding the most desirable credit card deal
With increasing competition, credit card companies have been trying to differentiate their products and come up with the best credit card deals. For consumers this often means competitive interest rates and a great variety to choose from when it...
Get Your Credit Score To Soar In The Twinkling of An Eye.
Ever wonder how a creditor decides whether to grant you credit? For years, creditors have been using credit scoring systems to determine if you'd be a good risk for credit cards and auto loans. More recently, credit scoring has been used to help...
Obtaining a Business Loan When Your Credit Rating is Poor
Poor credit, unfortunately, is a common problem for many women.
Poor credit can happen for a variety of reasons. It can be due
to a divorce, when bills weren't paid on time or at all. It can
be due to a medical disaster, where bills have piled up...
Understanding Credit Scores and Repairs
If you are applying for a mortgage, you're going to have to deal with credit scores. Here's a primer on credit scores and methods for improving them.
Credit Report
Step one in the process is making sure that you have a current copy of your...
What Does My Credit Score Mean?
Lenders are using credit scores more and more to make decisions about who they will lend to. The main developer of these scores is called Fair, Isaac Co (FICO), thus these scores are often called FICO scores. Scores range from 300-850 with a lower...
Why Bad Credit People Pay Higher Rates
Why Bad Credit People Pay Higher Rates by Dave Czach Let's face it. People with credit problems pay higher rates for the same reason people pay higher auto insurance premiums - risk. Virtually everyone knows if you receive a traffic ticket, you get...
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How to Establish Business Credit Despite Your Personal Credit
Business credit is more of a science than an art. The first rule for this science is that it is not the same as personal credit.
Many would-be and aspiring business owners are not aware that establishing credit for a business is just as important as establishing personal credit. They also do not realize that a business can have a credit score separate from their personal credit score.
There is a world out there designed specifically for the business entity with a whole set of different rules.
Many entrepreneurs start out accumulating excessive personal debt to finance a business. Within a few months or even years, they find that the business is a monster and needs more food, also known as financing.
With credit cards maxxed to the limit, business owners find themselves in a crunch and searching for ways to raise capital. This is difficult to do when the time is not taken to establish business credit first. Business credit is a crucial first step and foundation to build upon.
First, a business is not real. It really doesn't exist until legal steps and processes are completed to say that it does exist. PEOPLE create businesses that have not been tested, employed or ever earned a paycheck. So, when you start a business and begin looking for financing, the bank WILL ALWAYS look at your credit because they can touch you (and your job, and your car, and your house...). You have a history. Your business does not.
They will pull YOUR credit report. Not the business. And do you know why? Because you have not
established a business credit profile separate from your personal credit profile.
Can this be done? How does a business establish a credit profile separate from your personal credit profile?
There is a credit system that will help you:
1. Lease vehicles like Lexus or Lamborghini, with added tax benefits.
2. Get a business line of credit or Small Business Loan or Business Credit Card for expanded Advertising, Inventory and other expansions your competitors can't get.
3. Invest in large projects like Commercial Property or Land or Construction that your personal credit isn't enough to guarantee.
4. Protect your personal assets from that of the business by not having to sign, no personal guarantee.
5. Start over with a new credit file if you need to, instead of just being stuck with your personal credit report
Start new businesses you always wanted to start with Business Loans.
6. Separate your personal credit from your new shiny business credit profile
7. Get a new credit report for every business you start. Establish business credit that's good even if you have poor personal credit (it's true!)
Anyone who wants to establish a REAL BUSINESS, with CREDIBILITY that's bankable ought to establish business credit.
About the Author
Karen L. Hardy, MSBA is a certified Business Finance Consultant, real estate investor and motivational speaker. To establish credit for your business, go to
http://www.destinycapitalfunding.com/business_credit_builder_program.htm
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