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I signed up for a Wells Fargo business card about a year ago to help build credit. The banker told me the card would report to my personal credit report. After about 6/mos of getting the run around as to why it wasn't reporting I was finally told that because it's a business card it only reports on my business credit and not my personal. I only have a 1 year old $25k nfcu card and a 1 mo old Wells Amex. My FAKO scores are mid 700's low 800's but just pulled my FICO 8 and all reporting 620 range. "short credit history" showing up in notes. Is there any way you can think of to get them to report this card on my personal credit? Not getting much help through branch or customer service.
@njames33 wrote:I signed up for a Wells Fargo business card about a year ago to help build credit. The banker told me the card would report to my personal credit report. After about 6/mos of getting the run around as to why it wasn't reporting I was finally told that because it's a business card it only reports on my business credit and not my personal. I only have a 1 year old $25k nfcu card and a 1 mo old Wells Amex. My FAKO scores are mid 700's low 800's but just pulled my FICO 8 and all reporting 620 range. "short credit history" showing up in notes. Is there any way you can think of to get them to report this card on my personal credit? Not getting much help through branch or customer service.
Nothing you can do. Sorry for what the banker told you but 99% of business credit cards do not report to your personal credit reports. The only exception being the Spark card from CapitalOne. While I understand why you want it to want it to report but the vast majority of business card holders prefer that they do not becuse it allows you the freedom to carry a balance if you so desire and not have that affect your scores because of utilization issues. A year old or so card isnt going to help your scores that much because it's not going to add much to your credit age. Only time will do that as your cards age. Also if your scores are in the 620 range there is something else holding them down besides credit age. I would pull your reports and check to see what might be there that is contributing to your score range.
Although it's not going to help a ton I only have one other card that has been reporting since that time. All my good accounts are falling off my report because they are closed accounts and 10+ years old.
I do have one medical collection for $910 from 2011 I'm in the process of trying to track down insurance information. From everything I've been reading it shouldn't be affecting my score that much.. I know they do pay for deletes and I'd consider just eating it if it would help my score that much. Thoughts?