Businesses and your credit report: sometimes that is enough to make anyone shiver. When you are applying for any type of credit or loan that will require a business to check your credit report, you should first check your credit and your cashflow to determine whether or not you a) have good enough credit to get accepted; and b) have a large enough cashflow to make the payments.
The connection between businesses and your credit report isn't just luck anymore. Before, you never knew our credit rating and when you thought about businesses and your credit report, you would want to snatch it away from them and take a good long look yourself. But those days are behind us now; and everyone is entitled to one free credit report each year (or 2 if you live in Georgia.) This means that you don't have to worry about businesses and your credit report; instead, when you are applying for credit, you will already know that you will be accepted because you have seen your credit report and you know how good or bad it is.
Businesses need our credit report information to know that we can reasonably be expected to pay a given loan back; if we have not made our repayments on previous debts, then they will most likely not give us the credit for which we are applying. If your credit report contains lots of red boxes with 90 days overdue written in them, then businesses will probably not look at your history favorably.
Thinking about the connection between businesses and your credit report will only worry you if you know that you have defaulted on repayments in the past. But you know that businesses have to read your credit report because if you can't make the repayments, then they will be out of pocket at the end of it. An in-depth credit report will give them that information they need to decide whether or not you can be trusted. Businesses pulling your credit report will not get you worried anymore; after all you know your credit report--and you know that you will be accepted for this credit that you can handle repayments on the loan for which you are applying.
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