Credit is important in real estate investing. Here are some tips on building business and personal credit.

There are three credit repositories: Equifax, Experian, and Transunion. Check your credit report every six months for any discrepancies or sign up for credit monitoring services.

The credit score are calculated based on the following percentages:

• 35% Payment history
• 30% Debt to available credit ratio
• 15% Length of credit history
• 10% new credit
• 10% types of credit used

Pay your credit card bills on time. Be aware that some credit card companies change the due date without notice. You can also call your credit card companies and change the due dates of all your cards to fall within several days so you don't forget.

Other than payment history, we have the most control over the debt to available credit ratio. Call your credit card companies to increase your credit limits and decrease interest rates every six months. Also, apply for new cards every quarter to increase available credit and hence increase credit score. Do not use more than 30% of your credit limit on any one card or it will bring down your score. Get rid of your department store cards which are considered "bad" credit cards.

One way to finance your real estate investment deals is to apply for credit cards with zero interest for one year or more. Purchase the deal using the credit card check and refinance the property with a regular mortgage before the one year is up. Be sure you know what you are doing since it can be a double edged sword.

Some good business credit cards to apply for are:

• Blue from American Express
• Discover More Card
• Bank of America Visa Signature WorldPoints Rewards Card
• Bank of America Accelerated Rewards American Express Card
• Advanta Cards
• Merrill Visa Credit Card