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Business credit affecting personal credit

Business credit affecting personal credit

I obtained a corporate AMEX card through my business using my Federal Tax ID #. I did not link it to my personal account. I had an outstanding balance on the corporate card.
 
AMEX reported the delinquent balance of the corporate account to the credit reporting agencies and my personal credit score went down 52 points.  I paid it in full and closed the account. Can they do this? What can I do? 
Message 1 of 6
5 REPLIES
Moderator Emeritus

Re: Business credit affecting personal credit

Did you ever give them your SS#? Are you sure there isn't a personal guarantee clause somewhere?
Message 2 of 6
Super Contributor

Re: Business credit affecting personal credit



confusedconsumer1000000 wrote:
I obtained a corporate AMEX card through my business using my Federal Tax ID #.



Is that different to your SS#?
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 3 of 6
Senior Contributor

Re: Business credit affecting personal credit

My business cards all have personal guarantees on them. They have my Business Tax ID and I had to personally guaranty because I didn't have enough business credit. They got my social some how. Yes. I remember putting that on the app as well.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Message 4 of 6
Regular Contributor

Re: Business credit affecting personal credit

Yep - when I worked for a company and got a AMEX card for Corp Expenses I think I had to give my SSN. When the company was being bought out they stopped re-imbursing me and I think I was getting bills at my house. Somehow I must have given my personal info and Im sure I was hit with it on my Personal CR. That was way back when I didnt even know or care about my CR. Ha - how foolish I was !!!

Message Edited by MM1234 on 06-22-2007 09:28 PM
Message 5 of 6
Highlighted
Established Member

Re: Business credit affecting personal credit

You did something wrong. You must have given them your SSN to secure the account.
Message 6 of 6