Types of Credit

They say there are two different types of credit in the credit arena. The first type is the personal or the individual credit. This is the credit that an individual that secures a security number would have based on their credit history; that is paying their bills on time. These are various bills that range from credit card bills, personal bills, mortgage bills and things in that nature. The second type of credit card or credit record exists with business credit. Business companies have EIN numbers that are filed in the government and the reporting credit bureau called Dun and Bradstreet.

These talks about how the business pays its vendor, how it pays their creditors in on going basis and Dun and Bradstreet is the biggest reported agency amongst business out there. This is different than individual credit reporting agencies which there are three: Experian, Trans Union and of course Moody’s. So you got those three credits reporting for you as well.