The 5 steps to improving a business credit score are: 1. Order copies of your business credit reports from the major credit bureaus to check for any errors. 2. Examine the reports closely and compare them to your financial records to identify any outdated, incorrect, or fraudulent information. 3. Dispute any inconsistencies or outdated information by sending a letter detailing the errors and supporting documentation. 4. Remind credit card issuers and lenders of their responsibility to submit timely and accurate payment reports. 5. Manage existing credit responsibly by making timely payments and using a reasonable percentage of credit limits.

1. 5 Steps to the Business Credit Score You Want
Here are several steps you can employ
to fix your business credit history and to
improve the financial prospects of your
enterprise!

2. 5 Steps to the Business Credit Score You Want
Order the latest copies of your business credit file.
Before filing an application for a business loan or a credit card
account, we advise you to request first for the latest copies of
your business reports from the firms which track your credit
transactions. This will not just help you determine what your
current rating is. It will also help you gauge how likely your
application for business financing will receive approval.

3. So, as early as today, you
should contact the major
business credit bureaus and
ask for the latest copies of
the credit reports of your
enterprise.

4. 5 Steps to the Business Credit Score You Want
Examine the documents for errors.
Once you receive the copies of your business reports, what you
should do next is to validate the accuracy of the entries found in
them. To do this, you should carefully scrutinize the individual
transactions and take out business financial records that will help
verify each one of them. For instance, you can take out your
monthly billing statements or your transaction logs and compare
them with the accounts listed in your credit files.

5. Watch out for outdated accounts, incorrect
payment transaction dates and details,
fraudulent or unauthorized credit card
charges, and even tax liens and charge-offs
that are past the statutes of limitations in your
state.
After all, such errors can inflict sever damage
to the credit history of your enterprise and
compromise its chances of qualifying for a
suitable business loan, later on.

6. 5 Steps to the Business Credit Score You Want
Dispute inconsistencies and outdated accounts.
Should you encounter any of the inaccuracies mentioned above,
we advise you to immediately write a credit dispute letter. Make a
list of all the errors you’ve discovered in your business credit
report. Identify the course of action you expect the employees of
the business credit tracker to perform on them. You can use the
words delete, remove, update, modify, change or alter when writing
specific instructions in your letter of credit dispute.

7. IMPORTANT!
Mail the letter together with documents that
will support your claim.
By doing so, the employees of the credit
reporting agency will have files they can refer
to when investigating your credit dispute.
Should they discover that your claim is valid,
soon you will receive an updated copy of your
business credit report, which you can
eventually use when applying for a business
line of credit.

8. 5 Steps to the Business Credit Score You Want
Remind your business credit card issuer and lender to submit
timely reports of your credit and payment transactions to business
credit tracking firms.
In some cases, it might be your business lender or credit card
issuer who is at fault for the incorrect items in your credit files.
Hence, it would be best to send the firms letters reminding them of
their responsibility to provide timely reports to the credit reporting
agencies. By doing so, you can avoid having more problems.

9. 5 Steps to the Business Credit Score You Want
Manage your existing business lines of credit in the best way
possible.
To receive a better business credit rating, you should also pay
close attention to how you manage your existing business loans
and credit cards. Make it a habit to submit timely and complete
payments to your lenders and card issuers.
And use just a reasonable percentage of
your credit limit. This way, you can
maintain a solid business credit profile,
and in time you will reap the benefits
associated with having an excellent
business credit standing.

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