The information submitted by your creditors to these credit reporting bureaus include date of account opening, type of accounts, payment history for each account, late payments, unpaid child support, overdrawn checks, or any foreclosures, suits, wage attachments, liens and bankruptcies that are derived from federal and state agencies. Aside from credit card payments, other loans or bills like unpaid apartment rentals and medical bills can also hurt your overall credit score. Here are five ways to hurt your credit score. Late Credit Card Payments and Large Balances Late credit card payments not only burden you with additional surcharges and fees, but it can also put a black eye on your credit history. Here are five ways for disputing discrepancies in your credit report. Order a Copy Of Your Credit Report From The Big 3 Credit Agencies The first thing to do is to order a copy of your credit report directly from each, or any of the three major credit agencies. Don t get your credit report from third-party agencies, because chances are you could be disputing errors or flaws that don t even exist. Ask For Credit Reports From The 3 Major Credit Bureaus The next step would be to request for credit report from the 3 major credit bureaus, since you won t be charged with any fees. However, because you re only allowed one company per year, order them on a staggered basis throughout the year instead. Establish Your Business As A Separate Unit For starters, build your business credit profile as a separate entity from your personal credit profile. Your busienss ha sto be structured in a way that it resembles a corporaiton or a limited liability company, or LLC. Devise A Well-Crafted Vusiness Plan When building your business, also prepare a coherent, well-crafteed business plan, which includes all the essential financial details, including the required sections and sub-sections. Every business entity that borrows will generally have a business credit profile, from which the business credit score is taken from. While a number of firms track business profiles, the main business profile tracker is the Paydex system, which works like the FICO score for personal credit score. Why Monitoring The Credit Report Is Important For Small Business Owners One of the most important aspects that aspiring business owners needs to do, is monitor their credit report.