In an attempt to attract new business owners, entrepreneurs, and professionals, many credit card companies will advertise their cards as being for companies. However, do you really have a business credit card, or are you just using your own credit to back a card with your company’s name on it? I’ll outline some simple tricks to check, in today’s article.
If you are interested to see if your business credit card is associated directly with your company, you should pull the credit report for your company. Experian generates these reports; Equifax and Transunion don’t deal with business credit.
If there is no payment history for the account on your report, then it is purely a personal card. You should call the customer service number associated with your account to see if you can get it removed from your personal report to be added to your business one. At the very least, they should be able to report in both places.
Whether or not you find it on your business report, you’ll still want to check your personal report. If it also appears on your personal report, you have a few options. You can stop using the card, and then only use credit associated directly with your business.
This is very important if you are trying to maintain the corporate veil that surrounds your LLC. Either that, or you can ask to have the item removed from your personal credit. The option you choose depends on your circumstances, the structure of your business, and your personal preferences.
For more information, go to Business Credit Card at http://www.unsecuredbizloan.com/business-credit-card/