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Business Finance Terms Definition List

tillful

NOVEMBER 8, 2022

Once you hit that limit, you'll need to pay down the balance before you can use the card again. Credit score. A credit score is a number that indicates the likelihood of a person or business to fulfill its financial obligations. Credit utilization ratio. A good credit utilization ratio is 30% or less. Depreciation.

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How Long Do Late Payments Stay on Your Credit Report?

CreditStrong for Business

MARCH 10, 2023

Fortunately, there are ways to improve your overall credit profile to offset the adverse results that late payments have on your credit score. Equifax, Experian, and TransUnion, the three major credit bureaus, compile the data that creditors report. What Is Considered as a Late Payment?

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