"The work an unknown good man has done is like a vein of water flowing hidden underground, secretly making the ground green."Thomas Carlyle
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0% Credit Cards
These days, credit cards in the UK are competing with each other on two very attractive offers with a headline rate of 0%. These 0% credit cards will be either balance transfers; introductory purchases offers or a combination of the two. This article ...
Advanta Business Credit Cards: A Closer Look
The credit card wars continue to heat up and that spells “good news” for consumers. Despite rising interest rates, many issuers are continuing with their popular 0% introductory APR plans, giving new card holders a great way to save money and pay off ...
Building Credit with Credit Cards
If you have bad credit, it is important to keep up with your spending to avoid poverty. If you are searching for a low interest credit card to repair your credit, remember most cards available have high initial fees and APR. Regardless if you have filed ...
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This article provides useful, detailed information about Bad Credit Business Credit Cards.
Before granting credit to a prospective customer, a firm must ask the question: How credit-worthy is this customer? In truth, one mistake in judging the customer can lead a firm into bad credit.
In judging the credit-worthiness of an applicant the three basic factors -- the three C's (character, capacity and collateral) -- should be taken into perspective.
Character refers to the willingness of the customer to honor his obligations. It reflects integrity, a moral attribute that is considered to be very important by credit managers. Capacity refers to the ability of the customer to pay on time. This depends on the financial situation, particularly the working capital position and profitability, and the general business conditions affecting the performance of the customer. Collateral represents the security offered by the firm in the form of mortgages.
There are several ways in which you can find out whether a customer is likely to pay his debts, including analysis of financial statements, obtaining bank references, analysis of the firm's experience, and numerical credit scoring. Financial statements contain a wealth of information about the customer's financial condition and performance. A probing analysis of these statements can provide useful insights into the creditworthiness of the customers.
The banker of the prospective client may be another source of information about his financial condition. This information may be obtained indirectly through the bank of the credit-granting firm to ensure a higher degree of candidness. In addition, consulting one's own experience is very important. If the firm has had previous dealings with the customer, then it is worth asking: How prompt has the customer been in making payments? How well has the customer honored his word in the past? Where the customer is being approached for the first time, the impression of the company's employee about the integrity of the customer is very important. Finally , one can also use numerical credit scoring methods for the credit evaluation.
ABOUT THE AUTHOR
New Business Credit Cards provides detailed information on Business Credit Cards, New Business Credit Cards, Secured Business Credit Cards, Bad Credit Business Credit Cards and more. New Business Credit Cards is affiliated with Small Business Credit Cards.
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