Do Business Credit Cards Affect Personal Credit

Did you know that out of all the business credit cards available in the marketplace a small percentage report only to the business credit reporting agencies?

The good news is not all business credit cards impact your personal credit. If a card issuer only reports your credit limit, spending, revolving debt and payment history to a business credit agency then your personal credit will not be affected.

This is especially useful when making large business purchases using your business credit card. As you know credit utilization is one of the major factors that impact your FICO® scores. In my opinion, to completely separate business reporting from personal reporting, business owners should only use business credit cards that report solely to the business credit agencies.

The fact is credit card issuers have different policies when it comes to credit reporting. Now keep in mind the majority of business credit cards will require a personal guarantor so in the event that the business defaults on its payment obligations the guarantor will be ultimately responsible.
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Business Credit Protection

How are you being alerted to potential warning signs of fraudulent activity in your business?

Are you being notified when there is suspicious activity or changes to your business credit scores and ratings?

How much can your business afford to lose?

In today’s post let’s talk about a serious threat facing businesses of all sizes; business identity theft. “What is particularly disturbing about this trend is the significant dollar amounts involved. It’s not unusual for the losses to be in the mid-six figures by the time the criminal activity is detected” says Robert Strezze, Senior Risk Analyst for Dun & Bradstreet.

I’m sure you’re well aware of the hundreds of millions of records stolen from all the hacks, leaks and big data breaches of 2014. The scary fact is fraudsters are obtaining information about businesses and assuming their business identities so they can steal company assets, business credit information and client data.
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