Business Checks

Why is your credit score important
Here’s why your credit score is so important; it helps determine whether you can get credit cards, car loans and mortgages, and what interest rates you will pay.This can affect your personal and your business. Having business checks to use with your company is great to use, but if your a Personal Guarantor, you need to make sure your credit is as good as it can be.

The three major credit bureaus may report different credit scores to characterize your creditworthiness because they have different information in their files and they use different models to calculate the scores. Credit Scores are generally between 300 at the low end and 850 at the high end depending on which bureau you get the score from.

Lower scores are associated with higher risks of defaulting, so banks and other lenders demand high interest rates for taking risks in offering loans to these “subprime” customers. With higher scores, loans and credit cards are easier to get at lower interest rates because they are associated with successful repayment.

Personal Credit Scores – Your Credit History in a 3-Digit Number