What is a Trust Score?
Your Trust Score is a dynamic indicator of how consistently and responsibly you manage your payments with Cloudfloat. It reflects your payment history and helps us profile customers as reliable or higher-risk users.
How does the Trust Score work?
Positive behavior:
Paying all your instalments on time boosts your Trust Score.
A high Trust Score profiles you as a dependable customer, making you eligible for increased borrowing power and smoother approvals in the future.
Negative behavior:
Missing instalments or delaying payments negatively affects your Trust Score.
A low Trust Score signals higher risk, which may lead to reduced borrowing power, stricter payment terms, or even difficulty in gaining future approvals.
How a bad Trust Score affects your Borrowing Power
Reduced borrowing power: Customers with a lower Trust Score may receive reduced borrowing limits to mitigate potential risks.
Hindered pricing dynamics: A poor Trust Score can impact your pricing mechanism for future requests, making it harder to manage cash flow effectively.
Delayed future approvals: Trust Scores act as a benchmark for future applications. A low score could mean slower approval processes or increased scrutiny during assessments.
Why maintaining a good Trust Score matters
Increased borrowing power: A strong Trust Score enables you to unlock higher borrowing power, offering greater financial flexibility for your business.
Faster approvals: Profiles with high Trust Scores are prioritised for approvals, ensuring smooth access to funds when you need them.
Better payment terms: A good Trust Score demonstrates reliability, which may lead to more favourable terms.
Key takeaway
Your Trust Score isn’t just a number; it’s a reflection of your payment behaviour and reliability. By maintaining a high Trust Score, you not only unlock greater borrowing power and smoother approvals but also position your business for long-term growth with Cloudfloat’s flexible financial solutions.
Build trust, grow your business, and let Cloudfloat support you every step of the way!