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Chase Professional

Established Member

Chase Professional

I opened a Chase Professional CC 3 months ago. It never appeared on any of my reports. Chase says they don't report "Business" accounts to the reporting agencies.
 
So here's my question. When I re-fi my mortgage in a few months, should I transfer all my outstanding balances to this CC so that my reported utilization shows 0%?
 
How do the "Business" accounts work?
Message 1 of 7
6 REPLIES
Senior Contributor

Re: Chase Professional

Business debts aren't personal debts, so FCRA and FDCPA protections don't apply.
 
I cannot think of a reason NOT to do it, at least temporarily, for your personal refi, but little voice, back of head, saying no don't do it.
 
Withholding a final decision for now.
Message 2 of 7
Senior Contributor

Re: Chase Professional

You are lucky to have this option :-)
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Message 3 of 7
Moderator Emeritus

Re: Chase Professional

I wouldn't. Keep your business and personal finances separate.
Message 4 of 7
Established Member

Re: Chase Professional

I don't have a business. I just applied for the card and they gave it to me. It's in my name and I use it like any other personal CC.
Message 5 of 7
Moderator Emeritus

Re: Chase Professional



jred wrote:
I don't have a business. I just applied for the card and they gave it to me. It's in my name and I use it like any other personal CC.


Oh, then that makes a difference. Go for it!
Message 6 of 7
Established Member

Re: Chase Professional

I have a Chase Platinum visa that i've had for about a year. Recently i asked for a credit limit increase but was denied due to two recent paid collections(hospital bills) I was never late on payments on credit card accounts. Shortly thereafter, I received a preapproval for Chase Professional Mastercard. I contacted Chase Bank and they advised that it was a business credit card. I advised that i don't own a business and they said it was ok as long as i dont claim expenses charged on the card on my income taxes. I was then approve for a $5000.00 credit limit. I was disappointed to find out later that this account does not show up on my credit report. But then i realized that i could easily transfer balances from other credit cards(that are reported) to this account to keep my utilization low. It seems strange how a cc company can deny a $500.00 credit limit increase on an account that youve showed a history of no missed payments for a year and then have the same company issue another card with a credit limit of $5000.00.  My only complaint is I still continue to get preapproval offers from Chase Bank on the same credit card that they already issued. I guess the marketing department doesn't communicate with the accounts department!
Message 7 of 7