Business Credit Cards That Do Not Report To Personal Credit
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Business credit cards that do not report to personal credit. A representative of the company almost always has to agree to personally pay any balances the business cannot. But while some issuers only report business card activity to business credit bureaus the practice is not universal the practice is not universal. During a bout of homestead fever a few years ago i somewhat seriously. I guess some business owners chose credit cards over loans.
Okay so why would anyone want to carry a balance. If you re launching a new business you re likely going to need some funds in the form of credit. One good reason business owners should consider opening a small business credit card is to keep that credit line off their personal credit file. But if your personal credit score makes you groan keep reading as we take a look at business credit cards with no personal credit check.
Small business credit cards without a personal guarantee are very rare. Nearly all business credit cards require a personal guarantee and some will even report your account activity on your personal credit report. Nearly all small business cards require a personal guarantee but not all of them report to consumer credit bureaus. Gerri detweiler education director for nav credit.
Here s what you need to know about your business credit card and how you can use it to help your personal credit instead of hurting it. Claire tsosie april 18 2017 many or all of the products featured here are from. Congress left the small business community out in the cold by excluding business branded credit cards from coverage under the credit card act of 2009. Which business credit cards do not report to the personal credit profile.
But debt is debt especially if you are not really paying it down and only paying the min. A business credit card can help you build your business credit but it may also affect your personal credit history. Before you apply for a small business credit card it s important to know how it can affect. Business credit cards that do not report to personal credit can help you safeguard your personal scores so you ll want to know how your issuer reports.