Is your personal credit affected if you open a Business Credit Card account?
831936
If it's tied to a business, it shouldn't show up on your personal credit account.  However, If it's a small business, the credit company may use your personal background to assess credit risk.
314159
The Credit Cards take a percentage opf your purchase for themselves (typically 1.5-4%).  They will pay the business in a few business days, allowing them to use the money for investing for a few days without interest; kind of an interest free loan. more here....\nhttp://en.wikipedia.org/wiki/Credit_card
323991
Yes, if they are still effecting your credit rating. The better your credit rating - the more they will want to loan you. I get automatically accepted for loans and credit cards. I've never had debts - always pay of my credit card, bought my car for cash. My credit card company offered me a loan at 5.9% last month. I could probably borrow that and invest it in the markets and make money! Give the impression you're loaded and they'll offer you more - if you're broke - you don't stand a chance of a loan for the price of a sandwich. With on line banking now - you can move money around your accounts and give them a great turnover and put virtually everything on a credit card. I was offered a new credit card that doesn't incur any interest for up to 12 weeks after the purchase. Stupid interest rate of 19% - but 12 weeks interest free credit can be handy.
1150878
Let's first look at why you don't have a credit card and its implication to your getting resources for your business:\n\na. You have poor credit - if you have no credit cards because no company would approve you for line of credit, chances are also very high that no banks will lend you loans. Having a business plan is not enough; some banks would not even look at your business plan if you have poor credit history. Even SBA loan is a long shot.\n\nb. You have no credit history - either because you are an immigrant or you are a young person just starting out in life. In this case, you have to have a business plan PLUS a collateral or loan guarantor when you approach a bank.\n\nCredit cards have become an important source of financing for many small business entrepreneurs, especially those who cannot get a loan or will not require a significant amount of money. They use credit cards to buy their equipment, pay their suppliers, buy inventory, etc.\n\nWithout access to credit cards, your best sources of capital include your savings, your family, or your friends. You may also be able to find an investor willing to help you out, but the investor must either believe in your business idea so much, or the investor must believe in you as a person and your determination to succeed. I know some entrepreneurs who got financing because the investor just loved their tenacity to succeed.\n\nOtherwise, you scale down your plans or wait for a better time to start a business -- and that is if your financial condition improves.
826062
you will need an EIN number to obtain a business card. another thing if your a sole owner, by law you are responsible for any debt incurred. your personal credit and assets are going to be at stake even with an EIN number.
296019
You could try to borry to cover the machine payments, but it would end up digging you a deeper hole.  Then you would have a  new loan for the same amount or more and have machines that arn't going to make your business profitable.  So then would you take out another credit arrangement to buy new machines on top of that?  Never buy equiptment or any other item on credit that will be unusable before the term of the credit has expired.  Sell the machines and get the most you can for them and see where you go for there.
949223
Paying off the card will not clear the negative data from your credit. It will change to show 'paid off' but the missed monthly payments and collection activity will remain reflected on the report and affect your overall credit score. Unless...you are able to make a deal with the card company for a full immediate payoff if they agree to ask the info be removed from your credit report (and get it in writing first). If you need something immediately, it makes no difference anyway. Even if you can make a deal with the card company, it will be 3-6 months before your report is cleared. Myabe you take the high interest loan now and re-finance later?
848325
It is illegal for a company or business to "copy" your credit card.  If a company asks to do so, I wouldn't do business at that company....they are probably going to try and scam you!
702044
No. It's just a credit inquiry. But, if there are more than 2 credit inquiries, then it can affect your score.
850549
With years in the business:\n\nNo.  You can pull your credit as much as you want through a pay site (or www.anualcreditreport.com) and it will not affect your score.  You will actually be able to see three different sections of credit pulls:  1. Pulls that are public and affect your credit, 2. Pulls that are by your current creditors to monitor your credit and that are not public, and 3. Marketer's pulls and your own pulls that are private and only viewable by you.  \n\nOnly the public pulls affect your score.  The three items above are not in order, and some under number 2 can appear as public, depending on your creditor.  Generally, however, you only get a hit when a pull occurs.\n\nAlso, the affects on your credit due to credit pulls are generally overstated by most people.  Unless you are going to open 10 new accounts in one week, a pull here and there will not drastically decrease your score.  The idea here is that if you open may new accounts, you are getting desperate for credit are are more likely to default on it.  With a big (non-mortgage) cluster, you could be going gang buster before filing for bankrutpcy, or something along these lines.\n\nAs for mortgage pulls, you have a 15 day window to have numerous mortgage pulls before your credit decreases.  However, use caution, as I have sometimes seen many mortgage pulls to affect a score by 5-10 points, even though it is "not supposed to".  I think this may have to do with they way the company is coded by the bureaus.\n\nIf you miss one credit card payment, talk to your credit card company about it.  If you were less than 30 days, it likely wasn't even reported.  If it was, they might be willing to remove it under extenuating circumstances - but don't hold your breath!\n\nIf the late payment is already on your credit report, it likely won't have a bad impact on your scores if you have other longer-term established credit.  Also, and very importantly, the affect it has on your score dramatically decreases with time.  By one year out, it's impact will be much less than when it was a current late.  After 2 years it will only have a signifigant impact if you have other bad debt.  Overall, if this was 2 years old and your score should be 750, it might only be 725 or 730.  If you score two years out is in the mid-600's, you'll need to pay attention to paying the other debt down.\n\nGood luck.
621354
Read the fine lines, Pre-approved, you are approved, but many have hidden fees to activate the cards, or some astronomical amount like $75-$100 for "membership". Some will only let you have credit to certain catalogs, etc., and not as implied as a true charge card. A personal invitation is only a fill out and you may or may not get approved based on credit worthiness.
437342
That depends on the credit card!
609995
The major business credit bureaus that provide reports are: \n\nDun & Bradstreet \nExperian Business \nEquifax Business \nBusiness Credit USA\n\nThe information provided to these business credit bureaus is completely voluntary. \nTo establish a business credit profile you must find companies that will establish credit for your business and then report the payment history to the business credit bureaus.  This will help you establish your business credit profile.\n\nObtain an FIN or EIN from the IRS.\nRegister with the business credit bureaus.\nFind other companies willing to grant credit to your business.
511805
Many credit card companies do report monthly. Especially the larger ones as it is fairly cheap to do so. Axe is also incorrect in that they all wait for six months to report. As someone who works with clients on their credit problems on a constant basis, I can tell you I see plenty of customers who have only had a credit card account for two or three months and it is already on their credit report.\n\nAs far as it helping you, it doesn't really help. The information that is important for your score is how long the account has been open, what the balance to credit limit ratio is, and whether you have paid on time or not.\n\nI usually have a client start building their credit with a finance company as well as the secured credit cards. However you must be certain that the company will report positive information and not just negative. Many of the companies say they report to the credit bureaus, but what they don't tell you is that they only do so when you are late. Make sure you ask if they report positive information and have them put it writing.
212358
Building business credit is not a quick process - it takes time, normally around 3-4 years. Other than paying a company to do it for you, here are some ways you can build a business credit fast:\n\n1. Register your phone in your business name\n2. Get a business checking account\n3. Register with DUN & BRADSTREET and get your DUNS Number\n4. Find vendors who can give you lines of credit (start with Staples or DELL)\n5. Apply for a business credit card - giving your business EIN instead of your SSN\n\nI recommend reading the article "Building Business Credit" at http://www.powerhomebiz.com/vol146/credit.htm
485237
Employers can find the same as credit card companies can in a consumer report. They can find all your old addresses, other names you have used, former employers, and what standing your credit is in.
369691
If your credit is bad, you will need personal collateral such a home for a loan.  Many people starting out have to turn to friends and family for their first loans.  It may be that improving your credit is a necessary step you need to complete before you are ready to start a business.\n\nMost businesses fail because they run out of money, rather than losing money.  If your personal financial situation is bad your business will be starting with a big hurdle to overcome.