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Regular Contributor
esme
Posts: 212
Registered: ‎01-09-2012

Inquiry for Business Card on Personal Credit Report?

I applied for a business card through Chase and CapOne today and the inquiries are showing up on my personal credit report. I was under the impression that with an LLC they keep financials separate. I have a federal tax ID number that I used on the application. What gives?


Starting Scores: EQ 582 TU 584 EX 615 (FICO - Lender Pulled) 1/4/2012
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Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Inquiry for Business Card on Personal Credit Report?

Most all biz CCs (with the exception of a few rare store-like cards) do require a PG. I've applied with both you mentioned and they do require a PG and ask for your SSN. Remember, any app that asks for your SSN will almost always result in a personal pull.

 

 

Regular Contributor
esme
Posts: 212
Registered: ‎01-09-2012

Re: Inquiry for Business Card on Personal Credit Report?

I guess it makes sense for them to want to look at the owner's credit report, but does the monthly reporting of the business account show up on my personal credit report?


Starting Scores: EQ 582 TU 584 EX 615 (FICO - Lender Pulled) 1/4/2012
Current Scores:EQ 632 TU 698 EX 669 (Lender Pulled) 3/17/2012
Goal Scores:700 club here we come!

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Valued Member
ssp
Posts: 49
Registered: ‎04-25-2012

Re: Inquiry for Business Card on Personal Credit Report?

I would like to know this answer and whether or not they report to the business cra's as well

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*In The Garden*


Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Inquiry for Business Card on Personal Credit Report?


esme wrote:

I guess it makes sense for them to want to look at the owner's credit report, but does the monthly reporting of the business account show up on my personal credit report?



YMMV. There are some Amex/MC/Visa accounts that can report to your personal CRs. Seems like Amex does/did at one point. But if oyu search around in here you might find some examples. I had biz credit going for a while and later decided to go cash-only and shut it all down, but in 2007/2008 I had a bunch of store cards like Dell, Staples, and Exxon and none of them reported on my CRs, as don't most all store cards. My FIL had a corporate Amex and that reported on his CRs, as did his Toyota biz purchase.

Mega Contributor
Creditaddict
Posts: 18,854
Registered: ‎10-23-2007

Re: Inquiry for Business Card on Personal Credit Report?


esme wrote:

I applied for a business card through Chase and CapOne today and the inquiries are showing up on my personal credit report. I was under the impression that with an LLC they keep financials separate. I have a federal tax ID number that I used on the application. What gives?


Okay, so as stated below some banks or cards for business will want PG.

and that means if they do want PG, if you apply and give them your info to pull credit, if it defaults later it is ALSO going to go on your credit.

 

Now question about if you PG, do they all report to your credit also.

Chase - No unless default

Amex - No unless default

Capital One - Will report

 

Fico Scores: EQ 639 Navy, TU 665 GE, EX 677 Prosper (07-09-14)
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Highest Limit: Fidelity Amex $25k (AU)
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Valued Contributor
GregB
Posts: 1,670
Registered: ‎05-24-2007

Re: Inquiry for Business Card on Personal Credit Report?


Creditaddict wrote:

esme wrote:

I applied for a business card through Chase and CapOne today and the inquiries are showing up on my personal credit report. I was under the impression that with an LLC they keep financials separate. I have a federal tax ID number that I used on the application. What gives?


Okay, so as stated below some banks or cards for business will want PG.

and that means if they do want PG, if you apply and give them your info to pull credit, if it defaults later it is ALSO going to go on your credit.

 

Now question about if you PG, do they all report to your credit also.

Chase - No unless default

Amex - No unless default

Capital One - Will report

 


This exactly matches my experience with the above 3 companies. Capital One started reporting a couple years ago.

Valued Member
chris288
Posts: 37
Registered: ‎04-29-2012

Re: Inquiry for Business Card on Personal Credit Report?

Are there any other business cards other than those 3?  What about credit unions?  I am considering applying for Navy Federals Business. 

Mega Contributor
Creditaddict
Posts: 18,854
Registered: ‎10-23-2007

Re: Inquiry for Business Card on Personal Credit Report?


chris288 wrote:

Are there any other business cards other than those 3?  What about credit unions?  I am considering applying for Navy Federals Business. 


OH NO... You have option for Navy this whole time and you applied for a Capital One!!!?

Navy does not report business cards to personal credit unless default and they will probably give you 10 times what Cap1 did.

 

There are TONS of Business Cards, Tons of store cards... you just have to decide what you need and how many you want to PG and have credit pulls and how mnay you can take reporting on your personal credit...

Fico Scores: EQ 639 Navy, TU 665 GE, EX 677 Prosper (07-09-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Buckle $250
Over 30 Cards in between :smileytongue:

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