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Business credit card and personal credit cards?

k3
New Member

Business credit card and personal credit cards?

Are your limits for  cash advances on a business credit card the same on a personal credit card or are you offered more flexiblility. what's the flexiblity as far as borrowing cash on business credit cards. Is the cash advance interest high? Is it a better idea to be taking out small business loans? I am starting with no business credit with very strong personal credit. what are the advantages of a business card compared to a personal card? I need the flexibility of cash. once you have established business credit are your business credit reports pulled or your personal credit profiles pulled or both. How can I seperate business from my personal life. Sorry for so many questions.

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2 REPLIES
Regular Contributor

Re: Business credit card and personal credit cards?

Welcome to the forums but your questions might be better answered in the Business Credit section. Suggest you PM a mod and ask to have it moved. =)

Message 2 of 3
Super Contributor

Re: Business credit card and personal credit cards?


k3 wrote:

Are your limits for  cash advances on a business credit card the same on a personal credit card or are you offered more flexiblility. what's the flexiblity as far as borrowing cash on business credit cards. Is the cash advance interest high? Is it a better idea to be taking out small business loans?

 

No way to to do business cash advances without prohibitive fees and interest.

 

I don't think it will be easy to get small business loans early on. You're better just investing your personal funds in the business.

 

I am starting with no business credit with very strong personal credit. what are the advantages of a business card compared to a personal card?

 

It's critical to keep your business expenses and finances separate from your personal finances.

Business cards aren't wildly different than personal cards, they're just separate.

One difference is that they usually don't report to your personal credit. Exceptions: Capital One and TD Bank.

 

 

I need the flexibility of cash. once you have established business credit are your business credit reports pulled or your personal credit profiles pulled or both.

 

When you apply your personal will be pulled as well as your business. But most business credit cards don't report to personal credit bureaus. Exceptions: Capital One and TD Bank.

 

How can I seperate business from my personal life.

 

By keeping all accounts 100% separate. Stay up to date on bookkeeping and taxes.

 

Sorry for so many questions.


 


FICO8 EQ 758 TU 778 EX 732 Total revolving 480k







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