At Commercial Domestic Investigations, we talk a lot about how easy it is to damage your credit score but is there anything that you can do to give a boost to your credit profile?
Ensure that your company data is standard across the board, when you’re applying for lines of credit then use the same company details (name, address, contact details etc.) if you use different addresses, even slightly, you can cause a lot of issues and even create duplicate credit profiles
You may already have a line of credit, a company credit card for example. If this is the case then you should use it. Don’t be irresponsible, you still need to pay it back! Use it responsibly and show that you can manage your money well. This will contribute to building a healthy credit profile and is relatively simple to do.
Pay your bills
Paying your bills on time is beneficial in most aspects of your business and it’s no different when it comes to building your credit profile. Paying your bills consistently on time shows that you can handle your finances and that you’re in a financially stable position.
Different types of credit
From short-term loans and credit cards to leases, handling different types of credit shows you are capable of managing money and prioritising.
Monitor your profile
Regularly monitoring and reviewing your credit report will help you to build your credit profile even more. Set up alerts for any changes so that you can rectify any issues as soon as they arise and minimise the damage to your profile.
At Commercial Domestic Investigations, we strongly believe that a credit report has a huge impact on your business’s success. If you want to find out more about how a credit report can help your business contact our team on 08444 159200, use our contact form or email firstname.lastname@example.org.