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Can’t Pay Credit Card Bills Because of the Coronavirus? Make This Call

Have your finances been rocked by the coronavirus? Your credit card issuer might be willing to offer a helping hand, but you’ll likely have to ask for it. As America and the rest of the world wrestle with the COVID-19 pandemic, more daily lives are being upended. Lockdowns, self-quarantines and other drastic measures to stop the spread of the virus are becoming more common here in the U.S., leading to missed paychecks and unpaid time off from work and other hardships. For many Americans, whose financial margin for error is tiny even in the best of economic times, these disruptions can be a really big deal. They can make it hard to pay your mortgage, car loan or credit card bill, for example. The good news is that these disruptions will likely only be temporary, but that doesn’t make things any easier in the short term. Fortunately, you can take steps right now to help your situation: the simplest step is to call your credit card issuer and ask for help. Many credit card issuers have...

Lending Tree

Apr 22, 2020

How to Recover From a Business Credit Score Drop

Seeing your credit score drop can be scary, especially when you may be running a business that may need capital soon. But with time and good behavior, you can bring your score back up. Here are some tips on how to recover from a business credit score drop. In this article: What is a business credit score? What can cause your business credit score to drop? Ways to improve your business credit score The bottom line What is a business credit score? Unlike a personal credit score, which is calculated on a scale from 300-850, a business score is calculated on a scale from 1-100. A score above 75 is generally considered excellent, according to Mary Ann Strout, senior product manager for Experian Business Information Services. “Every bureau has their own proprietary models for calculating business scores and each are a bit different,” Strout said. Bureaus that track business credit include Dun & Bradstreet, Equifax and Experian. You can check your score by purchasing a business credit...

Lending Tree

Dec 23, 2019

What to Do if You’re Turned Down for a Small Business Credit Card

*Editorial Note : The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership . This article was last updated Sep 03, 2019. Terms and conditions may have changed. For the most accurate information, please consult the issuer website . Your business is up and running. You’re proud of your brand and your product. Then, you get a denial on the small business credit card you’d hoped would help your business move forward. Don’t panic — you can take steps to understand what happened and resolve the issue. In this article: Figure out why you were denied Consider alternative options The bottom line Figure out why you were denied Your personal credit history will be checked when you apply for a business credit card, so this is a good place to start. If your personal FICO Score is below 700, you’ll have fewer...

Lending Tree

Nov 22, 2019

Need a New Credit Card for Your Growing Small Business? Here’s How to Decide

Maybe you’ve been running a small business for a while. You might have a small business card that has served its purpose — but you’re not sure if it’s still what you need. How do you make the call whether or not it’s time to upgrade to a different card? In this article: Evaluate your business needs Boost your spending power Travel rewards or cash back? Avoid interest charges with 0% intro APR Get more tools and support from your card The bottom line Evaluate your business needs Before you do anything, evaluate your business needs. Here are some examples of when it’s time to consider upgrading your card: Your current credit card limit isn’t high enough to cover what your business spends each month. You’re looking to earn rewards to offset large purchases or fund future travel. You’re planning a big purchase and need a 0% interest period to pay it off over time. You want more tools and support from your card. Most card issuers offer different levels of business cards, allowing...

Lending Tree

Nov 14, 2019