4 Things That Affect Your Business Credit Score
Summary
Several key factors influence a business's credit score. Regularly monitoring your credit is crucial; neglecting this can lead to unnoticed issues that harm your score. Maintaining a low credit utilization ratio is essential, as high balances relative to credit limits can negatively impact your score. Additionally, the length of your credit history plays a role; a longer, well-managed credit history generally boosts your score. Lastly, the types of credit used—such as a mix of installment loans and revolving credit—affect your score, with a diverse credit mix often being beneficial.
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