topic Re: BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE in Business Credit

BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE

MidwestCredit — Tue, 04 Mar 2025 19:14:51 GMT

Just got off phone with Chase after I spent the morning thinking I had identity theft! Received multiple emails from credit karma about credit increases and new accounts. Come to find out CHASE is having huge issues with INK business cards reporting all of sudden to consumer credit. 2 of my 8 company cards are reporting to personal credit, all in excellent standing. Chase is working on the issue and said it would be fixed by next billing cycle, they said it was a software issue. This is a major blow to any business owner in middle of any personal refinance or vehicle purchase. Just FYI! Chase credit department direct line 888-682-8361.

Re: BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE

Patient957 — Tue, 04 Mar 2025 19:39:09 GMT

Kind of crazy that they're needing an entire billing cycle to correct the issue. I'm not affected, but I can imagine how incredibly inconvenient this could be to someone working on a mortgage app, for example. Potentially devastating.

Re: BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE

GreatLife — Tue, 04 Mar 2025 20:00:37 GMT

I'll respect the forum and only suggest:

'Changes for thee but none for me!'

Re: BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE

TimFlorida — Tue, 04 Mar 2025 22:41:44 GMT

My Business Unlimited ink is as well. Equifax 8 drooped -24 today.

Re: BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE

MidwestCredit — Tue, 04 Mar 2025 23:22:34 GMT

This is a huge mistake for Chase. Hopefully it doesn't adversely affect anyone's personal lines. Amex is known to cut limits and cut credit lines quickly if they see too much utilization - most business owners hold very high utilization on business cards.

Re: BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE

TimFlorida — Tue, 04 Mar 2025 23:28:36 GMT

Yeah, mine was sitting at 63% util when reported. I paid it down to 51% today but my statement had already cut and unless they fix the problem, mine won't get updated for another month.

Re: BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE

MidwestCredit — Tue, 04 Mar 2025 23:34:57 GMT

@TimFlorida wrote:
Yeah, mine was sitting at 63% util when reported. I paid it down to 51% today but my statement had already cut and unless they fix the problem, mine won't get updated for another month.

Chase rep did inform me that it would be taken off at next "statement". However I went ahead and disputed the two accounts today to the credit bureaus. Dropped me almost 100 points. I have an ink with a 59k limit - 56k reporting balance, paid in full each month.. Definitely dragged that SOB fico right into gutter!

Re: BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE

SMB85 — Wed, 05 Mar 2025 15:18:16 GMT

Just had the same happen to me! My 6 month old CIP just hit my TU only, so far. Between this and my old PayPal Mastercard reporting, my personal CRs are on a roller coaster right now.

Is this what a post-CFPB landscape looks like? Jeez.

Re: BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE

ocheosa — Thu, 06 Mar 2025 00:23:59 GMT

@SMB85 wrote:
Just had the same happen to me! My 6 month old CIP just hit my TU only, so far. Between this and my old PayPal Mastercard reporting, my personal CRs are on a roller coaster right now.

Is this what a post-CFPB landscape looks like? Jeez.

Yep. So many businesses have not yet recovered from covid and the relentless natural disasters. Compounded with these types of stunts and upcoming economic issues, it's about to get real painful. I recall an old jingle each time there's breaking news, "you asked for it, you got it, toyota!"

At this point I basically mirror Arthur in "Forget Paris" (1995)

Re: BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE

MidwestCredit — Thu, 06 Mar 2025 00:28:20 GMT

@ocheosa wrote:
@SMB85 wrote:
Just had the same happen to me! My 6 month old CIP just hit my TU only, so far. Between this and my old PayPal Mastercard reporting, my personal CRs are on a roller coaster right now.

Is this what a post-CFPB landscape looks like? Jeez.
Yep. So many businesses have not yet recovered from covid and the relentless natural disasters. Compounded with these types of stunts and upcoming economic issues, it's about to get real painful. I recall an old jingle each time there's breaking news, "you asked for it, you got it, toyota!"

At this point I basically mirror Arthur in "Forget Paris" (1995)

Today I got another alert! A 3rd chase ink card reported. This time is was a premier card but showed credit limit as ($2k) which is false and a statement balance of $8k and on my report showing 400% over credit limit. Dropped from high 700s to now 550. Called Chase again and they said it may take up to 30 days to fix! Crazy!!?

Re: BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE

ocheosa — Thu, 06 Mar 2025 02:49:32 GMT

@MidwestCredit wrote:
@ocheosa wrote:
@SMB85 wrote:
Just had the same happen to me! My 6 month old CIP just hit my TU only, so far. Between this and my old PayPal Mastercard reporting, my personal CRs are on a roller coaster right now.

Is this what a post-CFPB landscape looks like? Jeez.
Yep. So many businesses have not yet recovered from covid and the relentless natural disasters. Compounded with these types of stunts and upcoming economic issues, it's about to get real painful. I recall an old jingle each time there's breaking news, "you asked for it, you got it, toyota!"

At this point I basically mirror Arthur in "Forget Paris" (1995)
Today I got another alert! A 3rd chase ink card reported. This time is was a premier card but showed credit limit as ($2k) which is false and a statement balance of $8k and on my report showing 400% over credit limit. Dropped from high 700s to now 550. Called Chase again and they said it may take up to 30 days to fix! Crazy!!?

@MidwestCredit , I am so sorry you all are going through this bs. I don't have chase biz cards but am furious for those business owners who do. Don't understand why it will take a statement/month to fix, they should do an updated reporting for customers even if only to remove all accounts from the bureaus until fixed on their end. This could prove detrimental to peoples financial standing!!

When you opened the disputes were they able to remove the account(s) in question while investigating? Just imagine all those who don't even know this is happening?

Re: BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE

xenon3030 — Thu, 06 Mar 2025 06:21:55 GMT

Only one of my ink cards got reported but that was sufficient to tank my Fico8 score by 19!!!

To fix this issue, shall I call Chase or do they fix it at their end?

Re: BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE

Credit_Flavours — Thu, 06 Mar 2025 10:07:21 GMT

Isn't it interesting how these selective software glitches work? Chase is just being evil-smart right now. They update your report automatically once you pay down an account, yet with such a devastating error, business owners have to wait a whole month.

Call it a hunch, but I felt an urgency to pay down the three ink cards that had balances out of the 5 I have across three businesses. All five were paid to zero by the end of business last Friday. DW, on the other hand, wasn't so lucky. Her only ink card, opened 4 months ago(still on 0% promo), has a $9k/$10k balance, and it just showed up on her personal report this morning, leading to a 26-point drop from 804. This is her only account with a balance with Chase, out of a $70k total exposure.

She's in real estate and negotiating a crucial deal, so we can only hope for the best when business resumes today. I'm in shock right now that this could happen with Chase.

Re: BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE

redpat — Thu, 06 Mar 2025 14:31:56 GMT

I'll let my balance report if it hits on the 8th. Seems to be accounts 3 or less years that are reporting, 2016 for mine. It's only one month if it does and not looking for credit anyway.

a little over $10k this month w/ $60.3k CL. lol, December would have been ugly over $38k balance.....

Re: BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE

ocheosa — Thu, 06 Mar 2025 16:20:34 GMT

Informative reddit thread

Regarding filing disputes:

Aggressive_Radio214 "Called Chase and CSR confirmed what someone else mentioned, there was an internal glitch that removed the suppression rules for Chase business cards--this issue has now been fixed. They also stated that they are processing deletion requests with the credit bureaus when customers request it. Requests processed will remove affected business cards within 30 days and any new Chase business cards will not appear on personal credit reports, as the glitch has been fixed"

Re: BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE

SouthJamaica — Thu, 06 Mar 2025 17:08:20 GMT

@SMB85 wrote:
Just had the same happen to me! My 6 month old CIP just hit my TU only, so far. Between this and my old PayPal Mastercard reporting, my personal CRs are on a roller coaster right now.

Is this what a post-CFPB landscape looks like? Jeez.

I'm afraid yes.

The federal government is badly out of whack now.

One of my credit unions has posted on its website that it is NOT part of the federal government.

Sad state of affairs when institutions are taking pains to DISassociate themselves from the US government.

Re: BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE

TimFlorida — Thu, 06 Mar 2025 17:12:29 GMT

"Seems to be accounts 3 or less years that are reporting,"

My INK card is 7 years 7 months and reported.

Re: BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE

xenon3030 — Thu, 06 Mar 2025 18:17:52 GMT

I called and they informed that it would get fixed by the next billing cycle, which is a very long time (not sure why they do not want to fix it immediately). I hope that by that time, the picky lenders (such as Citi or Synchrony) would not do AA.

Since these types of issues can do serious personal harm, possibly the people that receive any AA from some lenders or receive rejection from loans (CC, auto, mortgage) should qualify for a lawsuit.

PS: Since there is no CFPB, we are at the mercy of the banks to fix these simple issues at the way and the timeline that they want to.

Re: BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE

Danny_Lab — Thu, 06 Mar 2025 19:46:52 GMT

Yo I freaked out as well! Thinking identity theft after seeing the credit karma emails and the -26 drop!

good to know they are aware and hopefully will see the fix soon!

Re: BREAKING: Chase Reporting Business Cards to Personal Credit MISTAKE

isik — Thu, 06 Mar 2025 23:12:20 GMT

Got the dreaded email.

It reported to Equifax. 31% utilization (of course barely above the threshold), 21 point drop...

Couple this with the sudden hit I got just because my credit aged to 3 years a few months ago, which I haven't recovered from, and I'm down 40-50 points.

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Sudden-F8-drop-of-25-30-points/td-p/6799594

I hope they fix this ASAP, without reporting to others. It can have devastating impacts on someone's life. I guess I'm somewhat lucky, since it wasn't a higher utilization.