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The world of finance and economics is evolving fast. Competitors are getting more intense, and the windows of opportunities are increasing. And that’s exactly what’s helping new businesses look towards the horizon as their new boundary.As a startup owner, the stepping stones that lead to the success of your business include access to capital, opportunities, innovation and better handling of your business finances. But did you ever realize that all of those prospects are standing right at your front door? That’s where business credit comes in.Now that you have spent quite some time increasing your credit score, it’s time to turn your magic number into opportunities to make more money for your startup. There are several astonishing ways startups are leveraging business credit to scale fast and earn more. It would be crazy not to dip your hand into this flowing river of income.Startups with better credit scores aren’t resting on their achievements. Instead, they are translating that hard work into opportunities to achieve their financial goals.Related: How Startups Can Leverage Corporate Venture Capital Opportunities In MENA1. Reconsidering insurance premiumsEvery startup is sure to purchase insurance policies at the beginning of its journey. Once a startup gains a high credit score, it has an opportunity to save a considerable amount by getting a lower premium.That’s because credit scores are used to calculate insurance scores. Most small businesses purchase insurances while having a lower credit rating. Once the credit score increase, they re-negotiate the premium with their insurance companies to pay a lower amount because of a higher credit score.2. Refinancing the commercial auto insurance or auto loanA vast number of startups commercial use auto insurance for their business vehicles. Their credit score indicates whether they will pay their insurance premiums promptly or not during the initial application process.If they missed their payments or defaulted on debts, insurance companies would increase the commercial auto insurance rates depending upon the business’s insurance credit report.Likewise, when the business credit gets higher, such startups can revisit their insurance agents to ask for lower premiums, saving extra money.The same goes for commercial auto loans. An excellent credit score leads to a much lower interest rate of repayments or down payments, ultimately enabling the startup to save more and scale fast.Related: 15 Strategies for Quickly Expanding Your Business3. Lowering the interest rate on loans and credit cardsBusiness loans also make use of the credit scores. A startup with a bad or dwindling credit score may be offered a loan at a much higher interest rate or even be denied a loan altogether.Startups whose business credit is higher can leverage it to get business loans at lower rates. They have to visit the market, and they will find a lender with an attractive low rate sooner or later.That’s because everyone wants a good borrower. Loan companies are always falling for startups with higher credit scores.Similarly, such a startup can enjoy little or even zero percent interest. Each of these opportunities presents itself to help save cash and increase capital.4. Balance transfer credit cardsMost of the startups don’t know about the “balance transfer credit card” thing. If a startup finds it challenging to pay off the debts due to an increase in interest rates and would like to have some time to pay them off, this is for them.A balance transfer credit card offers an extremely low or even a zero percent interest for an introductory period on amounts transferred to that card from another card. But where does the business credit come into play?Here it is. After that introductory period ends, if the business credit of a startup is good, it will have to pay lower interest rates to some banks, while those with a bad credit score will have high repayment rates.5. Switching to reward credit cardsHere comes the best part. To increase your knowledge a bit, the best rewards on business credit cards are for those startups that have very high business credit.Any startup with an excellent credit score can choose the most rewarding type of business credit card to make the most out of it. It can earn up to 5% cash backs on selected purchases. And with loyalty travel cards, it earns more and more points that its staff will redeem for free travel, tours and stays at specific hotels.How about a free business trip overseas? Seems exciting, right?ConclusionA high credit score is like having a VIP pass to the best offers. It feels like a home run for a startup. Better business credits lead to peace of mind, ease and expansion of business and easier management of finances in a new startup.Save more, invest more, and in turn, scale fast.For an established startup, business credits help bridge the cash flow gaps, and new businesses often have trouble obtaining capital in different forms due to bad ratings.You may not find a considerable number of benefits for your startup initially. Still, it’s a stepping stone to your business’s financial stability in the longer run.Related: How Startups Can Use AI-Powered Tools to Scale Up