How to Boost Your Business Credit Score Knowing what your credit report means is critical to your business and personal life.

Do you know your credit score? When was the last time you checked your credit report? Your credit history plays a key role in your financial future, yet most people are blissfully ignorant of how credit scores work--and how to improve them.

Companies like Fair Isaac use secret formulas to crunch data from your credit report, comparing it to millions of other people. Such formulas spit out a single number that helps banks and credit card companies decide how much to lend you and at what terms. This number is your credit score (the most common, from Fair Isaac, is called a FICO score).