While a lot of myths about working with business credit seem like they should be true, with a simple explanation you’ll understand how false they really are. The myth about business credit working like personal credit sounds like it ought to be true, but it just isn’t. Sure, all credit systems are similar. However, there are some very major differences that can seriously affect your business.
For starters, the consumer credit system has, both in court and in congressional testimony, been demonstrated to be fairly anti-consumer. The system works against consumers in many cases, is prone to errors, and tends to resist the correction of any errors by consumers or their advocates.
In one example, even after a credit bureau was sued and lost in court, they continued to refuse for months to remove the incorrect information from the person’s credit reports.
The business credit system is quite different. It is not anti-business (or anti-consumer), it is less prone to errors, and when there are legitimate errors, they are generally easier to get corrected.
“Perfect” business credit can be gained in less than 12 months. As you know, personal credit takes sometimes years and hard to get to a perfect personal credit score. That is one of the main benefits of business credit aside from the fact it isn’t tied to your personal SSN.
Don’t let ignorance cost your business money. We provide you with an easy step-by-step system to build business credit through our cutting-edge finance suite platform. You’ll be guided through the process with your own business advising team who will help you with all aspects of building your business credit.
We offer a free business credit consultation for anybody who contacts our office. Give us a call and see if we can help 888 5 BIZ CREDIT.Continue reading