When you are entering into the world of business, one cannot help to wait for that day that you will be able to get your expenses covered by your credit card. You need no proof that you are self-sufficient, responsible and a competent person when you are doing business.
It is tough to use your card to cover your bills especially when the card score is below what is required. Generally, the rating of credit cards usually separate the business cards and the personal cards but in the case when your business is new, your credit card is what matters. The business cannot proof that it’s financially capable because there are no tax returns thus they prefer the personal credit card. Many credit companies will, therefore, jump to your personal credit card history because of this reason. Your primary concern that should determine the making of a business credit portfolio is to know how the payment will be removed later from your credit card reports.
For a good score to your business credit card, you should make an effort to remove all the problems associated with your personal credit card. Your card should be repaired in the following manner as discussed.
The first thing that you should do is to have the history of your personal card reviewed. Two things that help in increasing the credit card score is knowing the history and identifying the current status of your card. To know your credit score is important but it will not reveal to you about some late payment made, defaults, collections or credit type. Before you think of repairing that card, you should get first physical paper copies of your credit report from reporting agencies.
You should then find a personal credit repair specialist. the personal credit repair expert improves your cards history and also is known to have contact with many major creditors. It is usually good to work with a person who has direct contact with decision makers of major credit card companies. An expert will also get the repair done within no time.
The other thing to do is to diversify the credit types that appear in your reports. People usually destroy their credit history by taking out a lot of credit cards and charging them to the ceiling. Poor credit card history is also as a result of limited credit options on your card. You should apply for a small auto loan and then pay it off to increase your score and to proof that you are financially capable.