Does A Charged-off Business Credit Card Account from WellsFargo Appear on Personal Credit?

[AMORFATI]

So I had a WellsFargo business credit card closed and it is going to be charged off pretty soon. Once it does, does it appear on the personal credit? I have read multiple sources saying that Wellsfargo doesn't personal credit report.

[cashorcharge]

WF does not report regular activity on an open/current account.  However, they WILL report negative information especially a charge to your personal CB.  As their business cards are typically personal guarantee....not sure of your card or the agreement you entered into when you applied...though suffice to say....YES, I'm 99.9% certain you'll see it

[JoeRockhead]

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@cashorcharge wrote:

WF does not report regular activity on an open/current account.  However, they WILL report negative information especially a charge to your personal CB.  As their business cards are typically personal guarantee....not sure of your card or the agreement you entered into when you applied...though suffice to say....YES, I'm 99.9% certain you'll see it

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^^^^ this... They don't report normal activity such as on time payment history or balances, until there's a default. Once a default happens on any account that had a personal guarantee associated with it, especially a serious default like a charge off, it will be showing up on personal credit reports.

[AMORFATI]

All sites and resources say they do not report to personal credit even in case of default. 

1. https://www.forbes.com/advisor/credit-cards/can-a-business-credit-card-hurt-your-personal-credit/

2. https://business.ecredable.com/resources/blog/which-business-credit-cards-do-not-report-personal-cre....

3. https://www.nav.com/resource/do-business-credit-cards-report-to-personal-credit/

4. https://www.nerdwallet.com/article/credit-cards/do-business-credit-cards-affect-personal-credit-scor...

[cashorcharge]

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@AMORFATI wrote:

All sites and resources say they do not report to personal credit even in case of default. 

1. https://www.forbes.com/advisor/credit-cards/can-a-business-credit-card-hurt-your-personal-credit/

2. https://business.ecredable.com/resources/blog/which-business-credit-cards-do-not-report-personal-cre....

3. https://www.nav.com/resource/do-business-credit-cards-report-to-personal-credit/

4. https://www.nerdwallet.com/article/credit-cards/do-business-credit-cards-affect-personal-credit-scor...

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Not sure why you've taken the time to create this post along with asking a question.  If you're so certain reading these links...why ask?

As I stated earlier....this will primarily depend on the AGREEMENT YOU ENTERED INTO with the card.  If you were a Personal Guarantor, then you will see the default on your personal CB if you let it charge off.  You have failed to mentioned that.  I would suggest you review the credit application you signed/agreed to and read specifically about being a personal guarnator

[AMORFATI]

Although I did read multiple articles and did some research, I wanted to make sure and ask. But I appreciate your answer and you are correct regarding making sure of the personal guranntor and know the details of the agreement. 

Thanks 

[pizzadude]

I would count on it showing up on your credit reports as you PG'd the card

Regardless of the credit reporting question, you're still responsible for the debt.

[JoeRockhead]

You'll probably see language in your cardmember agreement that states something to the effect that they "reserve the right to report negative information".  

Hope it goes your way.