Steps to Financial & Business Success — Step 1

Check your individual and business credit scores — learn where to get them, what to look for, and how to fix errors.

Why check your credit scores?

Estimated time: 20–40 minutes

Your personal credit scores affect loan rates, insurance premiums, landlord decisions, and — for business owners — your ability to access personal guarantees or start building business credit. Start here to get a clean baseline before you form an LLC or apply for financing.

💡 Cashflow Insight: Stronger credit directly improves your cashflow by lowering interest costs and freeing up money for savings or investment. Even small payment reductions can add up — track where those savings go.

💵 Cashflow Corner

Practical savings boost

While reviewing your credit, note every payment you can lower. Even saving $25–$50 per month can improve your personal or business cashflow when redirected to a savings or investment account.

  • 🔹 Negotiate lower interest rates
  • 🔹 Refinance or transfer balances strategically
  • 🔹 Cut recurring subscriptions draining cashflow
View Cashflow Basics
FICO (typical)
300–850
Common interpretation:
Excellent 800–850 · Good 670–799 · Fair 580–669 · Poor <580
VantageScore
300–850
Similar ranges, but scoring differs slightly — always check which model a service reports.

Quick actions

Start here
Get free reports (AnnualCreditReport) Experian (free score & monitoring) TransUnion Equifax
Tip: You can pull your credit reports for free once per 12 months at AnnualCreditReport.com. Different consumer services (e.g., Credit Karma, Experian) may show scores from different models — compare reports for consistency.

How to get your scores & reports (recommended)

  1. Start at AnnualCreditReport.com to get full credit reports from Equifax, Experian, and TransUnion (free yearly).
  2. Check a free score service (Experian, Credit Karma, WalletHub) to view model-specific scores (FICO or VantageScore).
  3. For mortgage/auto quotes, lenders often use FICO. If you plan to apply soon, ask the lender which score model they use.

What to look for on your reports

  • Personal information (name, addresses, SSN last 4) — make sure it's your info.
  • Account details — balances, payment history, open/closed status.
  • Public records (tax liens, judgments) and collections.
  • Hard inquiries — note recent lender credit pulls (authorized vs unauthorized).
  • Any accounts you don't recognize — these may be identity theft.

If you find errors

Dispute, document, follow up

If an entry is incorrect, dispute with the reporting bureau (Equifax, Experian, TransUnion) and with the creditor. Save screenshots, dates, and any supporting documents.

Common questions

How often should I check my credit?
At minimum once per year from AnnualCreditReport, and quarterly from a credit monitoring service if you're actively building credit or anticipating an application.
Will checking my own score hurt it?
No — soft inquiries (when you check your own score) do not hurt your credit. Hard inquiries from lenders can have a small, temporary impact.
Which score matters most?
Depends on the lender. Mortgages commonly use FICO; some dealers or credit card issuers use different models. Ask the lender which model they use if you're applying.

Building & Checking Business Credit

Time: 30–60 minutes to review and enroll

Business credit is separate from your personal credit and can help secure loans, credit lines, favorable payment terms, and lower insurance rates for your company. Start building business credit early, even if your business is new.

💡 Cashflow Insight: Good business credit boosts cashflow stability — vendors may extend net-30 or net-60 terms, reducing upfront costs and improving liquidity for your next opportunity.
Dun & Bradstreet PAYDEX
0–100
Higher scores = better payment history. A score above 80 is generally considered excellent.
Experian Business Credit Score
1–100
Reflects payment history, credit usage, and public filings.
Equifax Business Credit Risk
1–100
Assesses likelihood of business default.

Quick actions for business credit

Start building early
Check D&B PAYDEX / Get a D-U-N-S Number Experian Business Credit Equifax Business

Steps to build business credit

  1. Incorporate your business (LLC, Corp) and get an EIN from the IRS.
  2. Open a business bank account and business credit card.
  3. Enroll in D&B for a D-U-N-S Number (required for PAYDEX).
  4. Pay all invoices and credit lines on time — early payments improve your score.
  5. Monitor your business credit reports quarterly to catch errors.
  6. Separate personal and business finances completely.

Resources for business credit

Dun & Bradstreet — Business credit reports Experian Business — Reports & monitoring Equifax Business — Credit risk & monitoring SBA — Federal EIN guide

📘 Continue Your Credit Journey

Optional resource

Take your results to the next level with the Credit Mastery eBook — your step-by-step guide to repairing, rebuilding, and leveraging both personal and business credit. It includes templates, timelines, and proven strategies that go beyond this free guide.

  • ✅ Dispute and goodwill letter templates that get fast results
  • ✅ Smart utilization tactics to boost FICO and PAYDEX scores
  • ✅ Roadmap for turning strong credit into business funding
Purchase the Credit Mastery eBook Learn more under Credit Health