4 reasons to check your business credit score

1. Reasons to check your Business Credit Score 4

2. What’s in your Credit Score? What’s in your Credit Score? How much credit do you use? How many accounts do you have? How often do you apply for credit? How long have you had each line of credit? Do you repay your dues on time?

3. Business is the activity of making money by producing or buying and selling of products (such as goods and services). Simply it is "any activity entered into for profit”. Business holds certain value and reputation in the eyes of the market. Italso means business should be successful in attracting the right kind of people and credits. Business should have to prove its worthiness of a new deal, its capability of growing and most importantly, its ability to pay the bills on time. . Giving assurance to the investors, makes them feel secure and motivated to offer an opportunity for your business. This is where yourbusiness credit scorecomes in.

4. Business Credit Score can establish your Organization’s Reputation Any opportunity for your business that may come today or in the future will definitely have some financial aspect attached to it so chances should be evaluated and used carefully. Business credit score determines your organization’s creditworthiness by evaluating various aspects of the business’s financial structure. A higher score means your business has a history of paying bills and returning loans on time.

5. 4 reasons to check your Business Credit Score Discrepancies Monitor the Red Flags Avoiding Fraud Credit Score change Quickly

6. Discrepancies Discrepancies It is very important to keep a close credit check and analyse the credit reports to get rid of any errors or a mismatch. credit repair companies initiate credit challenges for all of the errors found on your credit reports. A regular credit check and history is vital to keep tabs on your scores to maintain the financial health. Credit Scoredifferences between Credit Agency.

7. Credit Score change Quickly Credit Score change Quickly If you’ve been working to improve your credit score—by paying off past-dues, correcting errors, making timely payments, or having negative items deleted from your credit report – you undoubtedly want to see the results of your efforts as quickly as possible. Every business lender or investor submits a chunk of information which includes your business risk and repayment ability. Since your credit score is based on the information in your credit report, the first place you should go to improve your credit score is your Credit Report.

8. Avoiding Fraud Business credit manipulation andidentity fraud is a common issue that has plagued all kinds of business verticals. Fraud is becoming an area of big concern for every sector and for banking and financial firms, it can cost a lot to them. The most reliable way of finding credit fraud before it gets out of hand is to keep a watchful eye on all your accounts and your credit reports. There are many free credit monitoring services that can help you understanding your credit score! Staying updated on your score keeps you alert against any suspicious activity.

9. Monitor the red flags "Red flags" are a widely used for monitoring tool and are based on identifying the risks of fraud at every stage of the action. Every time something negative is reported against your company, something like bad consumer feedback, bounced cheque or missed repayments, a red flag is added in your credit report.  A red flag is a warning that something suspicious or negative may have happened on an individual's credit report. This may be a sign of fraudulent activity.

10. A good credit score ranges from 700 to 900 - streamlined finance with timely payments & repayments • Below 500 is considered as a bad credit score – Indisciplined financial life

11. You can get both your personal credit scoreand business credit scoreby applying directly on the link mentioned below: https://cir.crifhighmark.com Follow CRIF India on : /CRIF INDIA