Business credit cards question

[kal9988]

I have a business credit card for my own company. When I applied for it, the inquiry showed up on my personal credit report, but the account for this card and its balance does not show up on my credit report. I currently have personal credit cards with balances. Would it make sense to transfer those balances to my business credit card (or open a second business credit card for that purpose)? That way, the debt won't be on my personal credit report, and my FICO scores will go up. (That is the ultimate goal, so I can qualify for an auto loan). Thanks in advance for the help!

[SamsungHDTV]

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@kal9988 wrote:

I have a business credit card for my own company. When I applied for it, the inquiry showed up on my personal credit report, but the account for this card and its balance does not show up on my credit report. I currently have personal credit cards with balances. Would it make sense to transfer those balances to my business credit card (or open a second business credit card for that purpose)? That way, the debt won't be on my personal credit report, and my FICO scores will go up. (That is the ultimate goal, so I can qualify for an auto loan). Thanks in advance for the help!

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Yes. Note: some credit cards companies report business credit cards to personal credit report, while others do not.

Consider the 3% BT fee though and if its worth it for you.

[kal9988]

Thanks! How do I know which companies report business cards to personal credit reports, and which don't?

[Anonymous]

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@kal9988 wrote:

Thanks! How do I know which companies report business cards to personal credit reports, and which don't?

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The only one I can think of that does is Cap One. Amex, Chase, and BOA do not.

[Anonymous]

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@kal9988 wrote:

Thanks! How do I know which companies report business cards to personal credit reports, and which don't?

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The companies that don't report business cards to personal reports are,

1) Chase

2) Amex

3) US Bank

4) Citibank

5) BOA

6) Barclays

7) BJs Business Mastercard and so on.

CAP 1 business cards report to personal reports so be weary of them although they are good cards to have...

[kal9988]

Thanks so much!

[Anonymous]

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@kal9988 wrote:

Thanks so much!

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You are welcome.. Also this -I have a business credit card for my own company. When I applied for it, the inquiry showed up on my personal credit report, but the account for this card and its balance does not show up on my credit report. I currently have personal credit cards with balances. Would it make sense to transfer those balances to my business credit card (or open a second business credit card for that purpose)? That way, the debt won't be on my personal credit report, and my FICO scores will go up. (That is the ultimate goal, so I can qualify for an auto loan). Thanks in advance for the help!

Yes, it does make sense but keep in mind should you default, it will be reported to your personal credit.

[red259]

Was in the middle of replying to this post when the thread got moved and my whole response was erased. Not going to retype the whole thing but I wouldnt recommend doing a BT as you will have to eat those fees (in extreme cases it may be worth it). Just pay the new charges with the biz cards and work on paying down your personal cards. 

[kal9988]

Does anyone know if the U.S. Bank Business Edge Platinum card reports to personal credit reports?

[Anonymous]

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@kal9988 wrote:

Does anyone know if the U.S. Bank Business Edge Platinum card reports to personal credit reports?

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No, it doesn't report to personal report.