Establishing business credit is an important step for some small business owners. If you want to obtain a business loan or simply separate your personal credit from your business credit, you need to work on establishing and building your score. Some lenders may even require or prefer that you have a business credit score. The
A business credit card can be much more than a convenient way to pay for purchases. These cards can also provide lucrative rewards, superior fraud protection, and smooth out cash flow. According to the Federal Reserve’s 2019 Small Business Credit Survey, 52% of firms with 1 to 499 employees use credit cards on a regular basis.
If you’re worried someone could steal your personal identity and buy something on credit or get a loan in your name, “freezing” your account at credit reporting bureaus could stop identity thieves cold. Not only that, Congress recently passed a law that ordered credit reporting bureaus to offer free credit freezes. More on that below.
When it comes to building credit, it’s best to start sooner rather than later. Sending a student off to college with a credit card is a good way to help them build credit. By the time they graduate, your kid will have four years of credit history, which will enable them to borrow on favorable
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The total outstanding value of US credit card debt is now over $1.02 trillion. This places a significant burden on total US household debt and amounts to a debt burden of around $7,000 per household. It is encouraging to note that less than 50% of US households have any credit card debt whatsoever. If we