Strong credit is more than a score – it’s a tool for opportunity.

At Ascendus, we help entrepreneurs take control of their financial journey. One of the most important steps is understanding how to maintain good credit. Whether you’re preparing to apply for funding or working toward long-term stability, strong credit opens doors. Here’s a clear breakdown of the key actions you can take – and why they matter.

1. Review Your Credit Report Regularly

Checking your credit report helps you catch errors early and monitor your financial progress. You’re entitled to one free credit report per year from each major credit bureau at AnnualCreditReport.com.

✅ What to do:

• Review reports from Equifax, Experian, and TransUnion
• Dispute errors that are outdated, incorrect, or fraudulent
• Never dispute accurate items – this is considered fraudulent and may backfire

📚 Learn More: CFPB Consumer Reporting Companies

2. Pay All Bills On Time – Not Just Credit Cards

On-time payments are one of the most important factors in your credit score. But credit isn’t only about loans or cards – unpaid utility bills and phone accounts can become collections and damage your score.

✅ What to do:

• Pay all bills – rent, utilities, subscriptions – on time
• Set reminders or automate payments if needed
• Keep active tradelines – accounts that are regularly used and paid

🧠 Missed payments on non-credit accounts can still lead to lawsuits or collections, making it harder to keep up with your other obligations.

3. Keep Your Credit Utilization Low

Credit utilization is the ratio of what you owe to your total credit limit. Lower is better.

✅ What to do:

• Try to stay below 30% of your total available credit
• For best results, aim lower when possible (e.g., below 10%)
• Pay balances in full when you can – not just the minimum

🧮 Example: If you have a $1,000 limit, try not to carry more than $300.

📚 Learn More: CFPB: Free Access to Credit Scores

4. Apply for Credit Only When Necessary

Every time you apply for new credit, a hard inquiry appears on your report. This can have a minor impact – but for someone with a short or thin credit history, it matters more.

✅ What to do:

• Avoid applying for multiple accounts in a short time
• Apply only when it serves a clear goal
• If shopping for a loan, do so within a short time frame to reduce impact

📚 Learn More: FICO on Credit Inquiries, TransUnion on Rate Shopping

Trusted Tools to Support You

Here are some valuable resources for learning and taking action:

• CBA Training Institute – Credit Builders Alliance
• AnnualCreditReport.com – request your reports
• CBA Access Program – Credit Reports for TA Providers

Let’s Support Your Journey

Good credit isn’t about perfection – it’s about progress, consistency, and informed choices. Whether you’re building credit from the ground up or recovering from past challenges, we are here to help.

Contact us today – let’s support your journey!