Monica Eaton Answers Common Business Credit Questions
Chargeback911® COO Monica Eaton, a well-known expert in the credit, payments, and fraud prevention industry, recently participated in a special expert Q&A session for Bankrate. In the interview, Monica offered her advice on how businesses can build credit, as well as choose the right credit card for their needs.
Bankrate is a personal finance company that guides people through pivotal steps of their financial journey. Since launching as Bank Rate Monitor in 1976, they’ve provided accurate rate information, intuitive calculators, and curated editorial content to help businesses and consumers reach their financial goals.
Most consumers understand that it’s important to maintain good credit. However, the same is true for businesses, as well. Merchants of all sizes need to maintain solid credit in order to access loans and other advantageous credit offers.
“As with personal credit, the underlying principle here is to convince lenders that you’re a reliable, stable entity who’s worth their investment,” Monica explains in the interview. “Many of the things that boost your business credit will be in line with that goal.”
No two businesses are the same, and the individual needs of each merchant will vary. As Monica suggests, one must examine the details closely, and make an informed decision about credit usage that makes sense for your situation. “In line with what I mentioned earlier, you need to weigh the benefits against the cost of the card, and see if it plays to your advantage,” she says.
