No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I applied for a business card through Chase and CapOne today and the inquiries are showing up on my personal credit report. I was under the impression that with an LLC they keep financials separate. I have a federal tax ID number that I used on the application. What gives?
Most all biz CCs (with the exception of a few rare store-like cards) do require a PG. I've applied with both you mentioned and they do require a PG and ask for your SSN. Remember, any app that asks for your SSN will almost always result in a personal pull.
I guess it makes sense for them to want to look at the owner's credit report, but does the monthly reporting of the business account show up on my personal credit report?
I would like to know this answer and whether or not they report to the business cra's as well
@esme wrote:I guess it makes sense for them to want to look at the owner's credit report, but does the monthly reporting of the business account show up on my personal credit report?
YMMV. There are some Amex/MC/Visa accounts that can report to your personal CRs. Seems like Amex does/did at one point. But if oyu search around in here you might find some examples. I had biz credit going for a while and later decided to go cash-only and shut it all down, but in 2007/2008 I had a bunch of store cards like Dell, Staples, and Exxon and none of them reported on my CRs, as don't most all store cards. My FIL had a corporate Amex and that reported on his CRs, as did his Toyota biz purchase.
@esme wrote:I applied for a business card through Chase and CapOne today and the inquiries are showing up on my personal credit report. I was under the impression that with an LLC they keep financials separate. I have a federal tax ID number that I used on the application. What gives?
Okay, so as stated below some banks or cards for business will want PG.
and that means if they do want PG, if you apply and give them your info to pull credit, if it defaults later it is ALSO going to go on your credit.
Now question about if you PG, do they all report to your credit also.
Chase - No unless default
Amex - No unless default
Capital One - Will report
@Creditaddict wrote:
@esme wrote:I applied for a business card through Chase and CapOne today and the inquiries are showing up on my personal credit report. I was under the impression that with an LLC they keep financials separate. I have a federal tax ID number that I used on the application. What gives?
Okay, so as stated below some banks or cards for business will want PG.
and that means if they do want PG, if you apply and give them your info to pull credit, if it defaults later it is ALSO going to go on your credit.
Now question about if you PG, do they all report to your credit also.
Chase - No unless default
Amex - No unless default
Capital One - Will report
This exactly matches my experience with the above 3 companies. Capital One started reporting a couple years ago.
Are there any other business cards other than those 3? What about credit unions? I am considering applying for Navy Federals Business.
@chris288 wrote:Are there any other business cards other than those 3? What about credit unions? I am considering applying for Navy Federals Business.
OH NO... You have option for Navy this whole time and you applied for a Capital One!!!?
Navy does not report business cards to personal credit unless default and they will probably give you 10 times what Cap1 did.
There are TONS of Business Cards, Tons of store cards... you just have to decide what you need and how many you want to PG and have credit pulls and how mnay you can take reporting on your personal credit...