Business card impact on credit score (sole proprietor)

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fortfun
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Joined: Tue Apr 19, 2016 7:31 pm

Business card impact on credit score (sole proprietor)

Post by fortfun »

Thinking about applying for a business card for my rental unit. I'd apply for it as a sole proprietor with my SS#. How will this impact my credit score? I assume the company will use my current credit score to determine my eligibility for the business card, yes? Any reason not to do this?
Thanks!
daveydoo
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Re: Business card impact on credit score (sole proprietor)

Post by daveydoo »

fortfun wrote: Mon Sep 17, 2018 9:02 pm I assume the company will use my current credit score to determine my eligibility for the business card, yes?
This is how it worked for my business card(s). They did not care about the business at all and I do not recall providing any documentation. I tried to be honest and used my own name and wrote "N/A" for the separate name of my business. So all the cards came with "NA" embossed on the front. :D

I can't answer the rest of the question.
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MrTimewise
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Re: Business card impact on credit score (sole proprietor)

Post by MrTimewise »

I have a Costco business credit card (Citicard) as a sole proprietor for a home business (second job). We use it for all purchases at Costco, but nowhere else. That credit card does not show up on my credit report on Credit Karma (Equifax and Transunion)
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fortfun
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Re: Business card impact on credit score (sole proprietor)

Post by fortfun »

MrTimewise wrote: Tue Sep 18, 2018 2:49 pm I have a Costco business credit card (Citicard) as a sole proprietor for a home business (second job). We use it for all purchases at Costco, but nowhere else. That credit card does not show up on my credit report on Credit Karma (Equifax and Transunion)
Interesting. I guess I'll just have to get one and see what happens.
Thanks!
Freefun
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Re: Business card impact on credit score (sole proprietor)

Post by Freefun »

fortfun wrote: Mon Sep 17, 2018 9:02 pm Thinking about applying for a business card for my rental unit. I'd apply for it as a sole proprietor with my SS#. How will this impact my credit score? I assume the company will use my current credit score to determine my eligibility for the business card, yes? Any reason not to do this?
Thanks!
Perhaps this is helpful (or not)

https://thepointsguy.com/guide/business ... al-credit/
Remember when you wanted what you currently have?
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fortfun
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Re: Business card impact on credit score (sole proprietor)

Post by fortfun »

Freefun wrote: Tue Sep 18, 2018 3:53 pm
fortfun wrote: Mon Sep 17, 2018 9:02 pm Thinking about applying for a business card for my rental unit. I'd apply for it as a sole proprietor with my SS#. How will this impact my credit score? I assume the company will use my current credit score to determine my eligibility for the business card, yes? Any reason not to do this?
Thanks!
Perhaps this is helpful (or not)

https://thepointsguy.com/guide/business ... al-credit/
Very helpful. Thanks freefun!
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