Lendio

FEBRUARY 8, 2023

Remember, our last recession in the US ended in 2009. between mid-2009 and 2019. A Lowering of Your Credit Score: Borrowers often see a shift in their credit score during a recession—usually downward as cash flow issues make it harder to pay off their debts. Or it could lead to even more.

Credit Scoring 52

Credit Scoring Small Businesses 52

Fundera

OCTOBER 16, 2015

Personal credit scores. Both Kabbage and OnDeck focus on your personal credit score, as opposed to your business credit score, which can be helpful if your business credit score is less than perfect or if you haven’t built up much of a history yet. Minimal time in business.

Small Businesses 102

Small Businesses Credit Scoring Deductions Default 102

Fundera

AUGUST 12, 2018

While you’ll need to provide a slew of credentials to qualify for a small business loan —like strong revenue, time in business, credit score, industry risk, and more—credit card companies won’t ask for nearly as many qualifications on their applications. …and your personal credit score.

Credit Scoring 63

Credit Scoring Credit Card Companies Small Businesses Transactions 63

Fundera

DECEMBER 27, 2016

Business credit cards aren’t monitored and controlled as closely as personal credit cards are. Specifically, consumer protection laws—like the Credit Card Act of 2009—usually don’t apply to your business through a business credit card. Small businesses might not be covered the same by consumer protections.

Credit Scoring 72

Credit Scoring Small Businesses 72

Fundera

MAY 17, 2017

Second: Federal regulations on consumer credit cards are stronger than those on business credit cards. Many protections afforded by the 2009 Credit CARD Act only apply to personal credit cards—advanced notice on APR increases and limits on fees, for example. Check Your Business Credit Card Options.

Credit Scoring 71

Credit Scoring Transactions Small Businesses 71

Fundera

FEBRUARY 28, 2017

You need to be prepared to pay off what you spend on a credit card each month without being reminded to do so—otherwise, you’ll incur interest payments, late fees, and take hits to your credit score. And along those lines, do you fully understand how your credit card and credit score relate?

Credit Scoring 75

Credit Scoring Credit Card Payments Credit Card Companies Deductions 75

Fundera

AUGUST 26, 2018

The biggest consideration for card issuers is your personal credit score—if you’re responsible with your personal debt, as indicated by your credit history, you’re lower risk for a business credit card. With that in mind, remember when you applied for your business credit card with your personal credit score?

Bankruptcy 65

Bankruptcy Chapter 11 Credit and Collections Chapter 7 65