You do have to give your personal SS# as well as a Federal ID # when you sign up for certain business credit cards online. does the credit rating effect your personal credit rating or the business credit rating or both?
If you have to give your personal information, 99% of the time you have personally guarenteed the business credit as well on a credit card. That means it will affect your personal credit rating. Only way to know for sure is the fine print on the original information document you agreed/signed.
Well, if you are not incorporated, and there is a bk, then your social will show up and that will affect your credit rating.
If it's a real business credit card, it won't show up on your personal credit report. however, you will still be held liable for the debt.
You should be aware that the rules are different for business collections and personal collections. Commercial collectors don't have to follow the FCRA rules. They can and will hound you.
I have a business card. It does not show up on my personal credit report at all, with one exception. I once forgot to submit an expense report and the bill didn't get paid in time-I contacted the credit card company and asked about their procedure for reporting delinquencies, as I was concerned that it would affect my personal credit. At this particular company, delinquencies will be reported on the individual's credit report after 180 days, instead of the normal 30. So it appears there are at least some instances where it could affect your personal credit rating-namely, if you or your company is very delinquent in paying the bill.
This will definately depend on how your company business was set up and whether or not you had partners, etc. Usually though, if you are a small business and unincorporated and use your personal info to secure card, then yes . If you're worried about this I would contact an attorney for specific help. Inthe meantime check out this site for more info:
http://www.credit-card-loans-debt.com
Will defalting on a business credit card effect your persoanal credit rating?
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