Maintaining a good credit score is important, but sometimes things happen and we just cannot pay off our debts at a given time. Unfortunately, this can mar records and lead to bad credit. Millions of people know the sting of having bad credit–from not being able to buy a car in their own name to having to pay large deposits for apartments or things like cellphones.

When it comes to business credit this is especially true. It is therefore important to follow to keep a close eye on your business credit reports. Unlike personal credit reports, pulling a credit report for a small business does not have any impact on your rating. You can actually obtain special monitoring systems that will give you periodical information on your rating and/or pull your reports for your so you can regularly check them for changes.

It is key to check your business credit report for possible errors in information. Believe it or not, there are cases when there is erroneous balance information or even listed accounts that do not belong to the business. You should also be checking your report to verify that any money you are paying on time to a bank, vendor, phone company, or any other account, is also showing up on your report. This will help build and boost your credit rating.

The simplest and most obvious way to build up your business credit score is by paying your company bills on time. Whether it be business credit cards or the the company phone bill, paying your bills on time will help you increase your business credit rating.

In addition to this, another tip for small business owners trying to improve their business credit is to have a low “used to available” ratio. Just because you have a line of credit does not mean that you should use it all up. As a matter of fact, you should only use about 20 to 30 percent of your available credit.

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