Credit Repair

Now the question is, How one go about taking care of his or hers credit problems and/or for those who are fortunate to have good credit to know what is  involves n building and keeping good credit history.

1. Start by determining just how bad your credit is. Even the best of us  have been stung by excessive credit-card use, missed payments and other slips that can build a sour credit history. Head the problem off by finding out where you stand before you deal with any financial issues related to your business. Obtain your credit report from one of the three major credit reporting agencies: Equifax, Experian or TransUnion. There are numerous Web sites, such as  charge. reviewer (lenders/employers/rental managers) maybe  using any one of the three reports.

    

2. Review your credit reports in detail and correct any mistakes. Try as they might, credit reports are notorious for inaccuracies, outdated information and other snafus. Go over your credit reports with painstaking attention. Look for credit cards that you closed out years ago, loans long since paid off and other mistakes that can drag down your FICO score, which is a numerical summation of your credit worthiness. If you spot any glitches, notify the credit agency in writing and document why the information is erroneous. Follow up to make certain the mistake is corrected. 
3. If the problem isn't a mistake, get moving to solve it. If your credit headaches are, in fact, all real and not exaggerated by misreporting, tackle them aggressively. are two resources online for these kind of reward business credit cards.

    

4. Use credit cards intelligently. It's not unheard of for businesses — perhaps rebuffed by lenders — to rely largely on credit cards to obtain needed startup merchant financing. Ultimately, you may prosper. But like other aspects of poor credit habits, you must know full well the high risks by relying on plastic. For one thing, recognize that some cards' "teaser rates" (introductory interest rates that can be as low as 0%) inevitably spike, often to stratospheric levels. Moreover, read your card's fine print: While low interest rates apply to conventional purchases, some cards have exorbitant rates for cash advances. So, be careful how you use the card, as it may ultimately cost more than you think. For Frequently asked question regarding credit cards,

    

5. Differentiate between absolute necessity and things you'd like to have. It pays to be extra prudent about every aspect of your business's and personal financial life. Don't hold back on making tough decisions — know what you absolutely need and what you can do without. Sometime if interest payments on your business and individual credit cards are mounting, it might pay off to separately consolidate your individual and business debts . your debt management assistance here.  

A poor credit history and credit habits are just like water leaking into a house. If you let it go on, your problems gets more and more difficult and expensive to fix. The good thing however is that just like any other problem in life, credit problems and poor credit history is nothing that can not be fixed.