business card affect credit score ?

Discussion in 'General Discussion | Credit Cards' started by lucky1, Feb 19, 2012.  |  Print Topic

  1. lucky1

    lucky1 Silver Member

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  2. MSPeconomist
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    MSPeconomist Gold Member

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    Some of us won't click on links provided by people we don't "know." It would help if you could summarize the content.
     
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  3. lucky1

    lucky1 Silver Member

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    sorry, the link is from the travel abstract, an silver member around here

    he claims business cc's do appear on your personal CR when you apply as the sole owner of the business,
    I have a couple of friends saying the opposite, so I'm just wondering what you guys say from your experience
     
  4. jbcarioca
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    jbcarioca Gold Member

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    I have no idea who the reporter is, but there are a number of errors in the blog. As do many such commenters they state hard and fast rules when the world does not quite work that way. The report confuses taking credit with being a guarantor for credit and asumes that all business credit is automatically reported to credit bureaux. if one guarantees that credit. Not true.

    The primary problem with generalizations is that there are always exceptions. So, even the question of inquiries is treated in a simplified way that actually misstates the reality.

    You can safely assume that anybody blogging about these matters probably does not know enough to be giving advice. That is the only generalization I have found to be true on this subject.
     
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  5. HaveMilesWillTravel
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    HaveMilesWillTravel Gold Member

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  6. DTWBOB

    DTWBOB Silver Member

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    It depends on what EIN was used when you applied for the card -- if the business has it's own and it was used, it's pretty hard to link that to your SSN.

    There are better sources of this type of info than this 'article'

    DTWBOB
     
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  7. wrxmom

    wrxmom Gold Member

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    He's incorrect. None of the credit cards for the businesses for which I'm a sole prop. appear on my credit report. The only time they will appear is if the person defaults on the business cards, then they will appear on the credit report.
     
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  8. airshadow
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    airshadow Gold Member

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    I've only had one show up on my personal report - C1 Business Venture (from last year's promo)
     
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  9. wrxmom

    wrxmom Gold Member

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    How does a C1 Business work? Is it a partnership vs sole prop?
     
  10. airshadow
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    airshadow Gold Member

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    Oh, I'm sorry - when I said C1 I meant the Capital One Venture Card - the business version. I applied for that card as a sole prop (along with the personal card) during last year's "Match My Miles" promo. Both cards have always shown on my personal credit report. So it's true that there are a few credit card companies that will report business cards (non-corporate type cards) on personal reports.

    Sorry for the confusion!
     
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  11. airshadow
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    airshadow Gold Member

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    I should probably add that CapOne re-branded their business cards late last year and they are now called "Spark"

    So, it's possible CapOne may no longer report business cards on personal reports after re-tooling their business products (I've since cancelled that card)
     
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