Last week, we introduced our educational video series about the basics of business credit and looked at the difference between business and personal credit. This week, we’d like to introduce the second video in our series, which explains the importance of separating business and personal credit.
The second video in the series elaborates on an important part of the business world; businesses interested in doing business with you will typically not be looking at your personal credit profile. You may have excellent personal credit to attest to your trustworthiness, but other companies will only be pulling your D&B business credit profile–if it’s incomplete because you hadn’t started trying to build your business credit, other companies may not get an accurate picture of your company’s credibility and you may lose out on new business opportunities.
This video explains how a strong business credit profile can be leveraged to negotiate things like better payment terms and lower interest rates. So how do you get started separating your business credit from your personal credit to start building your company’s credibility?
Start now. You don’t have to wait to start building your business credit; the first thing you can do is access your company’s D&B business credit profile and make sure that all the information reflected there is accurate. Inaccurate data can give other partners, banks, and vendors the wrong idea about your business’s health. Dun & Bradstreet Credibility Corp. has lots of products that can help you add positive payment experiences to your D&B business credit profile. CreditBuilder™ is a paid service that allows you to add positive payment experiences–trade references*–to your business credit profile, which may help boost your scores and ratings, making it easier to start separating your personal and business credit.
Check out the rest of the series to learn more about the basics of business credit.
Photo credit: Sean MacEntee, Flickr