Has anyone ever tried having a personal card but adding your BIZ as AU to build Biz Credit?

[Anonymous]

I have recently opened 2 personal cards with CITI and Bank of America but plan to use them as BIZ cards. My business is new so I do not have any business credit. I decided to put my company on my personal card account as AU. Citibank added the name and sent me the card already. But Citi did not ask for a social for the AU so I was wondering will this report? I applied for AU with BoA and they asked for social and address for the AU and I put my company name with the FEIN as the social, so I am hoping this will report and build some business credit history until the whole AU reporting is stopped. I was wondering if anyone had ever tried this and had it to work? Also when the receipts print out from the CC's will it have my personal name so that it will be no problem if I have to show ID.  I do not plan to mix my personal with business but I had to start somewhere because I just became incorporated in 12/08. I will only use the cards for business purposes but it will also build my personal credit because at the moment I only have 1 credit card. For business I applied for Chase, Cap One, and and Citibank Biz cards, and I was denied. I got approved for a Staples and Shell account, but still had to PG the account. Please let me know if anyone thinks this will work any comments are helpful. Thanks.

[brother7]

Hmmm... this is an interesting idea. I'm looking forward to hearing the responses back to this one.

[Red1Blue]

I have a Business Visa Credit Card from Affinity Federal Credit Union / NJ. It is issued as business card but me as guarantor. So in essense it takes my business as co-signer for my card biz card along with me. It does not report on my Personal CR. I am not sure if that is what you are talking about. I had a car loan same way on my biz name but I cosigned for the loan.

[Anonymous]

Concorduser, I think what you said is the same as they had me do for the Staples account. I had to personally guarantee the account with my personal credit but the account is actually under my Biz name, and is not on my personal credit. I was asking if anyone had ever tried it the other way around, having personal accounts, but adding the BIZ name as AU or joint user on the account and have them report to BIZ credit file?

[Red1Blue]

Ok. I see what you are saying. If you have an established business credit then what you do is ask for employee card or buyer card. For instance I have a Biz Card from HDMC / CapitalOne / Sams Club Discover, I add my wife as Authorized User / Buyer on these cards so she can make purchases on the card.  They sent her a card with her name and my company name on it. These cards will not show on her personal.

[Guardian]

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@Anonymous wrote:
Concorduser, I think what you said is the same as they had me do for the Staples account. I had to personally guarantee the account with my personal credit but the account is actually under my Biz name, and is not on my personal credit. I was asking if anyone had ever tried it the other way around, having personal accounts, but adding the BIZ name as AU or joint user on the account and have them report to BIZ credit file?

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I understand what you are saying about helping your business build credit using your personal accounts and the AU route and I find it a very interesting concept, I never thought they would do that. I am very interested to see how this will turn out. But, on simple principle alone, if they didn't ask for the Social (in which you can give the EIN) then I am assuming its just a secondary card and not even an AU and its not reporting anything for it. But the one that you provided the EIN, then it probably will and it seems that it might actually build credit for it. Would be interesting to know for sure though.

[Red1Blue]

From what I have seen none of the biz cards report to personal, though lately I am hearing, Discover/Chase are reporting their biz cards on the personal CR's.

[Guardian]

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@Red1Blue wrote:
From what I have seen none of the biz cards report to personal, though lately I am hearing, Discover/Chase are reporting their biz cards on the personal CR's.

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I have had mixed experience on this myself. When I had a capital one business card, it was reporting to my personal report but DMB didn't until it was acquired by HSBC, then it started reporting on the personal. Not sure why on either one.

[GregB]

You are dreaming. The business use will of course help your credit history and payment patterns of your personal credit history. BUT there is nothing reporting on the business and the card is not in the business employer ID. It is tied to your social security number NOT a business ID like 95-, etc.

After substantial perfect history with a personal credit card, ask that company if they will give you one in the business name. If your experience is anything like mine with MBNA (now BofA), I had a business card tied to my social security number with a $36K limit, they gave me a $4,100 Business Platinum card that does not report on my personal credit report. The first card is now $56K, the business is up to $7,400. BFD!

Every business card that I have started with the business Federal ID even if it also included a social security number of the principals later in the application.

[2wheel]

I would like to see what happens there.. Wonder if it will report to Equifax business or even Duns and Bradstreet.

I never got a major creditcard for business Didnt really need it. I have a open line of credit that is hooked up with my Accounts receivable and with 37 tradelines and a paydex of 91 I dont think I really need 1 now