Credit Cards Center Credit cards from our partners
Reply
Member
Posts: 11
Registered: ‎06-30-2007
0

Business accounts hurting my personal credit

I own a small business.  Everytime we open an account with a new supplier or a bank, they ask for a personal guarantee and run my credit.  I have numerous inquiries because of this.  Over 20 inquiries in the past 6 months.
 
How badly is this hurting my credit scores?  My credit score appears to be dropping every month.  How can I get this resolved?
Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
0

Re: Business accounts hurting my personal credit

Do you have an EIN? Do you know if you currently have a DnB or Experian business file? You should never have to personal guarantee business credit if you know how to play the game. Smiley Happy
Member
Posts: 11
Registered: ‎06-30-2007
0

Re: Business accounts hurting my personal credit

The company is two years old.  I've had an EIN since day 1.  I have never signed up for DnB or Experian business file.  With that said, where is the rule book to play this game?  Smiley Wink
Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
0

Re: Business accounts hurting my personal credit

PM me your e-mail and I will send you some info on building up your business file.
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.