electronic Global Trade Credit Platform/eGTCP's Blog: Here's The Reason Why Your Credit Score Matters

The Christmas holidays have just ended some days ago, everyone is starting to struggle into the busy work. After experiencing Black Friday, Cyber Monday and the Christmas holidays, we enjoyed the process of consumption, but most of our credit cards are almost maxed. It needs to be reminded that, in the near future, you need to repay your credit cards.

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If you unable to repay or miss the final repayment date, the record of you can’t repaid the money will be recorded in your personal credit. If these kinds of things happen frequently，it will affect you a lot of things in the future, such as loans, credit cards, insurance and so on. If you have a credit card, then your credit limit may not be able to continue to improve. In future, you will need a mortgage, a car loan, once they need to verify your credit report, but your credit score is not good, then you may not be able to reach the application you want, or can’t borrow the limit you need.

Credit is so important to the individual, so for the company?

The answer is obvious, enterprises' credit for their own growth is more important. Corporate credit refers to the willingness and ability of an enterprise to fulfill its own commitments. For an enterprise, we do not know whether they will implement in the future. But whether it has capacity to implement, we can know from the credit status; whether it has the implementation willingness, we can search the history of corporate implementation records. Therefore, the basic carrier of credit is the history records of corporate commitment to fulfill. To be specific, corporate credit involves the credit behavior between enterprises and enterprises, enterprises and banks, enterprises and governments, enterprises and consumers, and internal workers. No matter how time and market environment changes, corporate credit is eternal as the mainstay of the status, and only enterprises with good credit, can become more and more competitive in the market .

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Credit status and the history trade of buyers and suppliers are not easy to get. Government agencies generally do not issue other credit reports to individuals or enterprises.

So the problem is, for general global buyers, how they can get the professional credit report of the suppliers? For general suppliers, how they can get the professional credit report of the buyers?

Please wait for the next blog.