Follow these 5 Do’s and 3 Don’ts for healthy small business credit score
The “DO”- Do pay your bills on time.
- Do keep credit cards balances low (try to keep balances under 1/3 of your current credit limit.
- Do pay off debt rather than opening and moving balances between credit cards.
- Do apply and open new credit cards (ONLY when NEEDED).
- Do check your credit report at least once a year for accuracy and completeness of information.
- Do NOT max your credit cards.
- Do NOT miss a credit card payment. Missing a payment because you forgot not only impacts your credit score negatively, but also can affect your interest rate for that card.
- Do NOT have your credit report pulled multiple times within a short period. Go prepared and know where you stand when you are looking to purchase something on credit.