A small-business credit card can be a valuable tool, but it can also be a source of financial pain (or even ruin) if used irresponsibly.
Rosemarie Clancy is editor-in-chief of Credit-Land.com, a website that specializes in helping people find the best credit cards for their specific needs. The Intuit Small Business Blog recently asked Clancy to shed some light on proper small-business credit card use.
ISBB: Does a business have a credit score?
Clancy: Yes. Your business credit Paydex score, issued by Dun & Bradstreet, is based on your payment history to creditors. Once five creditors are reporting, you will receive a Paydex rating from 0 to 100. Most vendors and creditors consider a score of 75 good. Be sure to check that the supplier you are working with reports to D&B or your good payment record will go unnoticed.