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Most any business card issued through a bank, if it has any guarantor provision, will provide them the right to recover amounts owed on the business card from any of your personal deposit accounts that they hold. As such, your unsecured credit is not completely unsecured.
And unless the business is of a reasonable size, age and level of revenue....it will require personal guarantees. Although you can over time develop business credit which does not.
@Anonymous wrote:
@Uborrow-Upay wrote:Does anyone know for sure if a BofA business card reports to personal credit on a regular basis, or does it just report if there's a default?
I'm not familiar with how they operate. Citi reports the business card on personal, for some reason. Cap1 doesn't, and neither does Chase.
Anyone have this info for BofA?
I am surprised that you said Citi biz reports to personal. I was under the impression that none of the Citibusiness cards report to personal. What is the specific name of the Citibusiness card you have? Or is it not called Citibusiness?.
When looking for ratings on stock or other securities, these are done by Moody's, Standar & Poors and other "securities" rating services.
I highly doubt that anyone checks Microsofts credit. In fact many small businesses have a hard time doing business with large corporations because some, like Walmart, can take 90-180 days to pay some vendor invoices.
This requires many vendors to acquire accounts payable financing, such as account factoring, or through cash management and money manaement accounts through their bank, which is basically a line of credit upon which they draw. All income/receivables is deposited which lowers the level of debt in use.