US Credit Rating Drops Down How You Can Improve Your Credit Score Here ph
Revenge of the Son of All I Need To Know I Learned from Silent Movies – watch more funny videos
The US is considered the world’s largest economy, but recently foreign investors have voiced little confidence in it due to ‘credit ranking’ issue. Early this month, Standard and Poor’s has downgraded the US credit rating from an AAA status to AA-plus; that indicates that they are now less responsible and more likely to be a poorly performing economy because they became less capable of paying their debts. This is quite alarming when we consider how important credit rating is.
The Importance of Credit Score or Credit Rank When one country uses credit, they are borrowing money that they promise to pay back within a specified period of time. A credit score/rank is a statistical method to determine the likelihood of a country paying back the money they have borrowed. A good credit score can often give a country the extra leverage that they need, which is otherwise impossible to gain when you have a low credit score. Lenders and credit companies will compete over businesses/countries with good credit rank, as they considered to be of lesser risk. So How Does The AA+ Credit Rank Affect US? According to some media reports by The New York Times: 1. S&P also said the downgrade reflects the agency’s view that the “effectiveness, stability and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges. 2. The move could undermine confidence and “has the potential to pull the rug from under investors who are already on the edge,” says Jack Ablin of Harris Private Bank. 3. Credit rating agency Standard & Poor’s says it has downgraded the United States’ credit rating for the first time in the history of the ratings because the deficit-reduction plan doesn’t do enough to stabilize debt. Fair or not, the downgrade is an obvious evidence of failure. The US government has failed to put their finances under control that is why it resulted to their incapacity to pay debts. Like US, How Should Ordinary Businesses Shy Away with Not-So-Good Credit Rank to Improve Reliability?
1/2
Needless to say, credit rank downgrade is just one of the financial troubles that are being faced by US businesses today. Sadly, most Americans think that there is no more alternative to get free from this fiscal burden. The reality is, companies in US can still get over by using some proven techniques. All they need to do is find what are they, and how these can be their stepping stones to succeed in their current financial situation. One option that they could look into is lowering down their expenses. Businesses tend to overspend. They invest largely to things that may be considered unnecessary. Erecting facilities, hiring additional staff are just some of the few that incur higher expenses. Today, firms can consider outsourcing to BPO companies. These companies offer the most basic business requirements at lower costs. Another option is boosting number of customers. As we all know, customers are the main source of profit. The only question is, how can businesses obtain them? Finding customers is quite challenging at the start but this could assist in settling debts. Clearly, it’s time for US businesses to hunt for new prospective buyers. It’s time to open new markets. It also time to work with complaints, time working with companies that offer wide array of customer services and time to move into newer alternatives that can market products and services better. Telemarketing companies offering different telemarketing services can really be a help. US firms should consider working with them to get more number of customers. See, if US firms would be able to lower their expenses, get more number of customers, gain larger bucks, then they can fix their credit ranking. When these happen, they can be able to win a trust that hands down lending companies and almost any settlement that they may want to negotiate with. What do you think of this post? Tell me + i\'ll send you a Free gift.
Tweet This Post
Do's and Dont's of the Credit Card Game Here pf Futhermore: US Credit Rating Drops Down
2/2 Powered by TCPDF (www.tcpdf.org)