How To Build Up A New Credit Profile

The first thing you need to do in this area is to ignore anyone that tells you that building a new credit profile is difficult to do. The truth is that regardless of whether you are a business or an individual, building up a credit profile is ridiculously simple to do. It involves creating a high volume of successful credit operations.

Use Individual Profiles as a Guide

Think back to what you did when you were building up your own credit profile.  Doing things like paying bills on time helped a lot.  Also, the use of a credit card and the subsequent payment of the minimum installment month after month were responsible for building your individual credit score.  

In the same way, you should make sure that your company credit profile is built up through the timely payment of bills and the use and payment of credit available through a credit card. In some cases, it is even beneficial to put everything on the card and pay it off in full in order to avoid the interest and get the credit benefit.

As you continue to build your credit profile in this way, new sources of credit will become available. A business is more likely to be successful if it has multiple sources of liquidity readily available, so make sure that you make this a priority.



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