Credit Card Question: Does my application for a Business Card pull from my personal credit file?

Discussion in 'General Discussion | Miles/Points' started by syphlix, Feb 7, 2011.  |  Print Topic

  1. syphlix
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    syphlix Silver Member

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    does it count as a credit pull against my name? or only against the business?

    Also, if i apply for a card under the business name, and I apply for another biz card just under my name like most ppl who apply for the business cards?
     
  2. Brit
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    Brit Gold Member

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    I applied for a Citi card using my Business name (an LLC) but it is a single person LLC and so they needed my SSN. Therefore a credit pull came from my own credit as it was linked to my SSN
     
  3. syphlix
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    syphlix Silver Member

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    hrmm... i wonder if i apply under a business name that is a multiple person LLC how they even check for something like that... oh i guess my business must have it's own tax ID number or something... interesting...

    i could prob apply under the biz name and under my own also lol
     
  4. Westsox
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    Westsox Gold Member

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    I applies and received a Citi Business AAdvantage Card under my S-Corp Business which has a separate name and Tax ID. Because it was a new business, they required my SSN as well. I believe I was hit for a credit pull on my credit report but the actual card activity is not reported under my SSN.
     
  5. gemac
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    gemac Silver Member

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    They will do a credit pull against the business if it has a separate EIN. Depending on what they find, they can also pull against you.
     
  6. syphlix
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    syphlix Silver Member

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    ah thanks - ok i'll let you guys know how it works if i do this..
     
  7. aitchly
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    aitchly Silver Member

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    Think in terms of default. Who are they going to go after for unpaid bills?
     
  8. Yes, there is a hard pull. However, the new account will not show up on your personal credit report.
     
  9. syphlix
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    syphlix Silver Member

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    but it won't count against me having a biz card right? so can i sign up for a biz card under my real business, and also have a biz card under just my name (like most people do)?
     
  10. Well, if the "real" biz card was opened with your SSN, you probably won't be able to open another "self name" biz card with the same SSN.

    Not sure what you mean "count against". It depends on the issuer, and the type of card you are going for.
     
  11. syphlix
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    syphlix Silver Member

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    ah i guess i just meant if you could get 2 biz cards... when i read it more closely i can see that they probably wouldn't give you both cards... since it says you have to have your SSN, and that the business AND the individual will be liable for the monies...

    thanks for your help!
     
  12. it'ship2b^2
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    it'ship2b^2 Silver Member

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    Company cards never report good stuff on your credit but if your company stops paying the bad will be reported on your credit report. Biz cards are a bad deal since you don't get protections of the recent consumer protection act, you don't get the benefit of a good payment record, and you get all the downside if your employer goes belly up or decides they don't wish to pay your card for whatever jerky reason.

    To get around the new federal act some banks are pushing biz cards on individuals trying to make them think it's better than a protected consumer card.
     
  13. PTravel
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    PTravel Silver Member

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    For what it is worth, I am currently handling a matter for a colleague against a major bank. He was a recipient of a business card from his previous employer. Though he was just presented with the card by his employer, the Terms and Conditions of the card (which he did not receive) stated clearly that he was personally liable for any charges made with it. His employer went bankrupt and now the bank is chasing him.

    Read the Terms and Conditions of any business card very carefully. The banks are very aware that the purpose of a corporation, whether LLC, S- or C-corp, is to shield individuals from personal liability. They have drafted terms Terms and Conditions that are designed to get around this.
     

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