5 Essential Steps To Keeping Your Score High During A Business Credit Check

There are several things people can do to improve or boost their credit scores. But the main thing to keep in mind if you want a great credit score is making all your payments on time at all times. But what if you have a few late payments or other negative information on your credit report? Don't give way to despair assuming your credit score is doomed. There are a number of steps you can take to boost your credit score and improve your profile so that whenever one conducts a business credit check on you it doesn’t hold them back from starting business with you.

1) Pay past-dues

The first thing you need to do is to pay the past due payments on your accounts because the more recent the late payment, the more it may lower your score. Your payment history makes up 35% of your credit score so the best way to raise your score is to bring past-due accounts up to date and avoid missing payments in the future.

2) Remove all the negative information from your credit profile

After making all past due payments, try to contact the creditors and ask them to remove the late payment information from your credit report files. This negative information can be detrimental to your reputation when someone makes a business credit check on you. Not all creditors are willing to remove such information but if you ask politely and remind them that you will continue to be a good customer, a few may do that for you.

3) Avoid new inquires

All the recent credit applications comprise 10% of your credit score. Any application you make for a new loan, credit card, etc. may result in a business credit check that can remain on your credit report for at least two years. To protect your credit score, it’s better to avoid filling applications that require your social security number.

4) Keep the right credit

Major bank credit cards held for a long time and with good payment histories can help boost your credit score. That’s why you needn’t close down your cards that have the longest history and the highest credit limits available because they can help boost your score.

5) Stay away from opening new credit accounts

Most people open new credit accounts during holiday shopping seasons, lured by offers for an additional 10 or 20 per cent off. However, opening these new credit accounts can trigger a new business credit check and affect your credit score in a negative way: it can raise your debt usage and lower your average credit account age. That’s why you need to avoid opening such accounts or close them immediately after you have used the cards to get the discounts.

Lots of websites are filled with tricks and gimmicks telling you how to improve your credit score during a business credit check but most of them are simply just that: tricks and gimmicks. The best way to improve your credit score and keep your profile up to date is keep an eye on your credit report and adjust inaccuracies whenever you find any.