Business-Tradelines.com, an online business credit services company, fears FICO 08 will not stop scammers from preying on businesses seeking investment capital. Corporate credit seekers will still face tradeline fraud, despite the good intentions of FICO 08, according to Business-Tradelines.com.
"What you should understand about scammers is they prey on desperation. And they are very creative, too. If it's not one form of scam, it's another," says Adam Stevens, Managing Director of Business-Tradelines.com.
The major challenge to small business owners is lack of credit history and thus, a low credit score, if any. This prevents them from taking out a loan or a line of credit. Corporate credit lenders typically only lend large amounts to businesses with good personal credit scores. Business-Tradelines.com offers a program that will allow small business owners to bypass the FICO credit scoring system and leverage business credit scores into maximum funding.
Scammers who purport to offer business tradelines of
