How do Small Business Cards Get Reported to Credit Bureaus?
Jan 2, 2008, 5:39 am
#1
Original Poster
Join Date: Aug 2006
Posts: 61
How do Small Business Cards Get Reported to Credit Bureaus?
Can anyone please let me know if AMEX small business cards (like the Plum Card) get reported to the credit bureaus? If so, is it reported differently? Is it only reported for the cardholder under which the account was created? I'm not even sure if it is reported at all since I haven't run a credit report lately. Thanks.
Jan 2, 2008, 7:50 am
#2
Join Date: Apr 2001
Location: NC, USA
Programs: AA Gold 1MM, AA Exec Plat, Marriott Lifetime Plat, Hilton Diamond, Hyatt Globalist
Posts: 1,012
Great question. I would like to know as well. Is it reported under the applicant's ssn, or the federal tax payer id of the business, or both?
Jan 2, 2008, 9:20 am
#3
Join Date: Jul 2001
Location: DTW
Programs: Dirt Status w/ All
Posts: 5,040
Business cards typically don't report against your personal credit report. I don't have any Amex business cards, but I do have them from Chase, Citi, Advanta, Fifth Third, and Barclays and none show on my credit report (except for the initial inquiry).
There are some strange ones, such as Citi Professional that are business cards but DO show up on your credit report.
fatwallet.com probably holds the answer to the particular card you are looking for. Check the finance forum.
There are some strange ones, such as Citi Professional that are business cards but DO show up on your credit report.
fatwallet.com probably holds the answer to the particular card you are looking for. Check the finance forum.
Jan 2, 2008, 2:47 pm
#5
Join Date: Jul 2007
Location: Northern CA
Programs: Amex Personal PLT, HHonors Gold, SPG Gold, Hertz Gold, Hyatt Gold
Posts: 52
Yep, only the initial hard pull/inquiry (when applying for the card) and any subsequent hard pull/inquiries will show up on the personal credit report. Does not show up as an active credit line, however if you default, then the Biz CC will report the default to your personal credit, thus affecting your personal rating.
Jan 2, 2008, 5:41 pm
#7
Join Date: Dec 2007
Location: Dallas, Houston, Waco
Programs: AMEX Platinum, Fairmont Premier, SPG Platinum, CO Silver, etc.
Posts: 11
I have an amex gold business card and it does not get reported except the inquiry. However if you default on payment, obviously it will appear on the report. Unless you get an amex business "credit" card, then it will report due to line of credit.
Jan 2, 2008, 5:46 pm
#8
Join Date: Jun 2003
Location: La Jolla, CA
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Posts: 2,615
Amex doesn't report on your personal credit report-- but they do report
to Equifax Commercial Credit.
The report is similar to a personal credit report with prettier graphics, including a colored pie chart.
Like your personal report a numeric score is also generated ("Credit Risk Score")
Here's what Equifax says:
The Credit Risk Score is designed to assist credit grantors in improving risk assessment throughout a small business's account life cycle, reducing delinquency rates and improving profitability. The score utilizes unique bank loan, credit card, and lease information, as well as, supplier, telco and utility credit history, public records, and firmographic data from the SBE databases. The score predicts the likelihood of a small business incurring greater than 90 days severe delinquency, charge-off or bankruptcy on supplier accounts over the next 12 months.
Score range is 101 - 816, with the lower score indicating higher risk. Up to four reason codes may be returned indicating the top factors influencing the score.
Amex runs an inquiry when you apply for a business credit card and then after you have one they report monthly.
There is not a heck of a lot of info out there but I'm assuming that they aggregate your personal and business credit "in house"
to Equifax Commercial Credit.
The report is similar to a personal credit report with prettier graphics, including a colored pie chart.
Like your personal report a numeric score is also generated ("Credit Risk Score")
Here's what Equifax says:
The Credit Risk Score is designed to assist credit grantors in improving risk assessment throughout a small business's account life cycle, reducing delinquency rates and improving profitability. The score utilizes unique bank loan, credit card, and lease information, as well as, supplier, telco and utility credit history, public records, and firmographic data from the SBE databases. The score predicts the likelihood of a small business incurring greater than 90 days severe delinquency, charge-off or bankruptcy on supplier accounts over the next 12 months.
Score range is 101 - 816, with the lower score indicating higher risk. Up to four reason codes may be returned indicating the top factors influencing the score.
Amex runs an inquiry when you apply for a business credit card and then after you have one they report monthly.
There is not a heck of a lot of info out there but I'm assuming that they aggregate your personal and business credit "in house"
Feb 23, 2008, 11:34 am
#10
Join Date: Sep 2004
Location: Toronto, Canada
Programs: UA Silver, Marriott Plat, SPG Gold, IHG Gold, BW Diamond, Club Carlson Silver
Posts: 128
Canadian Small Business cards
For all who are interested, both Canadian small business cards I have DO report on my personal CR.
Both the initial hard inquiries (Equifax only) and active trades show up for the CIBC Bizline and Aerogold for Small Business cards (on BOTH reports). So far there havent been any other hard hits from them, only the usual soft ones every few months or so.
Both the initial hard inquiries (Equifax only) and active trades show up for the CIBC Bizline and Aerogold for Small Business cards (on BOTH reports). So far there havent been any other hard hits from them, only the usual soft ones every few months or so.
Feb 24, 2008, 9:04 am
#11
Join Date: Jan 1999
Location: Too many
Programs: Lots
Posts: 5,761
IMHO this practice by AmEx is shameful. It essentially locks small businesses in to AmEx after building a great credit history since no one else knows about it. So years of building credit DON'T get reported but if something bad were to happen, they report to the primary user's personal credit right away.
Feb 24, 2008, 10:28 am
#12
Join Date: Sep 2005
Location: Long Island
Programs: SkyMiles, Dividend Miles, True Blue, Membership Rewards
Posts: 126
IMHO this practice by AmEx is shameful. It essentially locks small businesses in to AmEx after building a great credit history since no one else knows about it. So years of building credit DON'T get reported but if something bad were to happen, they report to the primary user's personal credit right away.
-Dave
Feb 24, 2008, 10:40 am
#13
Join Date: Jan 1999
Location: Too many
Programs: Lots
Posts: 5,761
Feb 26, 2008, 10:30 am
#14
Join Date: Oct 2006
Posts: 45
IMHO this practice by AmEx is shameful. It essentially locks small businesses in to AmEx after building a great credit history since no one else knows about it. So years of building credit DON'T get reported but if something bad were to happen, they report to the primary user's personal credit right away.
Feb 26, 2008, 1:25 pm
#15
Suspended
Join Date: Jul 2007
Programs: United GS+
Posts: 1,889
If you have a real business and a Federal Tax ID number then your business credit will be reported to Dun and Bradstreet. http://www.dnb.com/