Comments for credit unify info http://www.creditunify.info Thu, 21 Jan 2010 11:02:02 +0000 http://wordpress.org/?v=2.9.2 hourly 1 Comment on What business credit cards are not attached to my personal credit? by Fg D http://www.creditunify.info/2010/01/21/what-business-credit-cards-are-not-attached-to-my-personal-credit/comment-page-1/#comment-242 Fg D Thu, 21 Jan 2010 11:02:02 +0000 http://www.creditunify.info/2010/01/21/what-business-credit-cards-are-not-attached-to-my-personal-credit/#comment-242 http://badcancer.net http://badcancer.net

]]> Comment on What business credit cards are not attached to my personal credit? by Initial Underwriting Group http://www.creditunify.info/2010/01/21/what-business-credit-cards-are-not-attached-to-my-personal-credit/comment-page-1/#comment-241 Initial Underwriting Group Thu, 21 Jan 2010 10:42:41 +0000 http://www.creditunify.info/2010/01/21/what-business-credit-cards-are-not-attached-to-my-personal-credit/#comment-241 A true business credit card is a line of credit that is taken in the name of the business, under the business' credit. Activity, whether good or bad, is reflected on your business' credit report through D&B and other financial institutions, and the liability for any debts incurred and bills owed is with the business. However, some companies out there offer "business" credit cards which they require a person guarantee for. These institutions will often ask for a personal guarantee, and will almost always ask for a social security number from the person applying for the card. If this is the case, the credit card is not a business credit card, but is simply a personal credit card which is used for the business. The business is not liable for bills and debts - you are. When applying for a credit card for your business, watch out for areas asking for your SSN (and not your TaxID or EIN) and be wary of any credit card that asks for a personal guarantee. By ensuring that your credit card is in the name of your business, you can help to build your business' credit, while avoiding creating problems with your own. Many companies offer a list of credit cards that are issued under the business name only. Those lists typically run $300-$900, depending on the quality of the information inquiring. I would suggest starting your search online via google or yahoo. Search for "strong business credit" (just like that in quotes) to find services that sell the information. Good luck, Ilya Bodner Small Business Owner Initial Underwriting Group A true business credit card is a line of credit that is taken in the name of the business, under the business’ credit. Activity, whether good or bad, is reflected on your business’ credit report through D&B and other financial institutions, and the liability for any debts incurred and bills owed is with the business.

However, some companies out there offer “business” credit cards which they require a person guarantee for. These institutions will often ask for a personal guarantee, and will almost always ask for a social security number from the person applying for the card. If this is the case, the credit card is not a business credit card, but is simply a personal credit card which is used for the business. The business is not liable for bills and debts – you are.

When applying for a credit card for your business, watch out for areas asking for your SSN (and not your TaxID or EIN) and be wary of any credit card that asks for a personal guarantee. By ensuring that your credit card is in the name of your business, you can help to build your business’ credit, while avoiding creating problems with your own.

Many companies offer a list of credit cards that are issued under the business name only. Those lists typically run $300-$900, depending on the quality of the information inquiring. I would suggest starting your search online via google or yahoo. Search for “strong business credit” (just like that in quotes) to find services that sell the information.

Good luck,

Ilya Bodner
Small Business Owner
Initial Underwriting Group

]]> Comment on How does your credit get affected by a closed credit card account due to a stolen credit card? by master migg http://www.creditunify.info/2010/01/21/how-does-your-credit-get-affected-by-a-closed-credit-card-account-due-to-a-stolen-credit-card/comment-page-1/#comment-247 master migg Thu, 21 Jan 2010 10:39:07 +0000 http://www.creditunify.info/2010/01/21/how-does-your-credit-get-affected-by-a-closed-credit-card-account-due-to-a-stolen-credit-card/#comment-247 you are not responsible for any debt if your credit card was stolen and used. it is a long process but you can actually remove it and not pay. its not your falt, though it will be treated as if your just trying to get away from paying your debt... so says Dave Ramsey you are not responsible for any debt if your credit card was stolen and used. it is a long process but you can actually remove it and not pay. its not your falt, though it will be treated as if your just trying to get away from paying your debt… so says Dave Ramsey

]]> Comment on What business credit cards are not attached to my personal credit? by G N A http://www.creditunify.info/2010/01/21/what-business-credit-cards-are-not-attached-to-my-personal-credit/comment-page-1/#comment-240 G N A Thu, 21 Jan 2010 10:23:35 +0000 http://www.creditunify.info/2010/01/21/what-business-credit-cards-are-not-attached-to-my-personal-credit/#comment-240 Spock is correct. Until your business has an established track record with vendors, time in business and how your business is formed, you will be held responsible for any credit your business receives. An alternative is to check with the bank where you have your business checking account. They may give you a credit card that also has your business name on it to use for your business expenses. Understand, the bank will follow its policies on granting credit to you and yes, your credit report will be what they base your business credit limit on. Spock is correct. Until your business has an established track record with vendors, time in business and how your business is formed, you will be held responsible for any credit your business receives.

An alternative is to check with the bank where you have your business checking account. They may give you a credit card that also has your business name on it to use for your business expenses. Understand, the bank will follow its policies on granting credit to you and yes, your credit report will be what they base your business credit limit on.

]]> Comment on What business credit cards are not attached to my personal credit? by Carol Y http://www.creditunify.info/2010/01/21/what-business-credit-cards-are-not-attached-to-my-personal-credit/comment-page-1/#comment-239 Carol Y Thu, 21 Jan 2010 10:14:08 +0000 http://www.creditunify.info/2010/01/21/what-business-credit-cards-are-not-attached-to-my-personal-credit/#comment-239 None. I am a small business owner and had to guarantee all of my business credit cards. None. I am a small business owner and had to guarantee all of my business credit cards.

]]> Comment on How does your credit get affected by a closed credit card account due to a stolen credit card? by mrsjanejetson http://www.creditunify.info/2010/01/21/how-does-your-credit-get-affected-by-a-closed-credit-card-account-due-to-a-stolen-credit-card/comment-page-1/#comment-246 mrsjanejetson Thu, 21 Jan 2010 09:54:31 +0000 http://www.creditunify.info/2010/01/21/how-does-your-credit-get-affected-by-a-closed-credit-card-account-due-to-a-stolen-credit-card/#comment-246 You really shouldn't have much of an impact, since the card is being re-issued. Basically you still have the same account, same history, same limit as the old card, just with a new number. She will need to be very careful about the fraudulent purchases. If the bank does not wave them, she could be held responsible. If she doesn't pay this will hurt her credit. To be on the safe side take the affidavit with you when you re-finance this will be your proof that if anything negative shows up, it wasn't yours. My next question has to be how did they get her card. If a wallet was stolen, home broken into, mail stolen, keep in mind the other info this thief may have. Name, address, social, etc they may have more than enough to commit credit fraud,(Opening other lines in her name) it may be a good idea to sign up for a credit monitoring service for a little while. You really shouldn’t have much of an impact, since the card is being re-issued. Basically you still have the same account, same history, same limit as the old card, just with a new number. She will need to be very careful about the fraudulent purchases. If the bank does not wave them, she could be held responsible. If she doesn’t pay this will hurt her credit. To be on the safe side take the affidavit with you when you re-finance this will be your proof that if anything negative shows up, it wasn’t yours.

My next question has to be how did they get her card. If a wallet was stolen, home broken into, mail stolen, keep in mind the other info this thief may have. Name, address, social, etc they may have more than enough to commit credit fraud,(Opening other lines in her name) it may be a good idea to sign up for a credit monitoring service for a little while.

]]> Comment on How does your credit get affected by a closed credit card account due to a stolen credit card? by chang z http://www.creditunify.info/2010/01/21/how-does-your-credit-get-affected-by-a-closed-credit-card-account-due-to-a-stolen-credit-card/comment-page-1/#comment-245 chang z Thu, 21 Jan 2010 09:26:36 +0000 http://www.creditunify.info/2010/01/21/how-does-your-credit-get-affected-by-a-closed-credit-card-account-due-to-a-stolen-credit-card/#comment-245 Im not sure why someone posted it shouldnt effect your rating. Of course it does. Stolen or not doesnt matter, If you keep getting rear ended your car insurance will eventually go up. If you have stolen cards or a card, your at higher risks than someone else. Lenders may consider you live in the bad part of town, maybe you frequently leave your purse or wallet in the car. Yes it effects you and your beacon score(credit rating will go down). Nothing you can do but wait it out and see if your rating recovers after a few years Im not sure why someone posted it shouldnt effect your rating. Of course it does. Stolen or not doesnt matter, If you keep getting rear ended your car insurance will eventually go up. If you have stolen cards or a card, your at higher risks than someone else. Lenders may consider you live in the bad part of town, maybe you frequently leave your purse or wallet in the car. Yes it effects you and your beacon score(credit rating will go down). Nothing you can do but wait it out and see if your rating recovers after a few years

]]> Comment on What business credit cards are not attached to my personal credit? by Spock (rhp) http://www.creditunify.info/2010/01/21/what-business-credit-cards-are-not-attached-to-my-personal-credit/comment-page-1/#comment-238 Spock (rhp) Thu, 21 Jan 2010 09:25:11 +0000 http://www.creditunify.info/2010/01/21/what-business-credit-cards-are-not-attached-to-my-personal-credit/#comment-238 after your business is solidly profitable, this can be done. until then, it can't banks aren't completely stupid. after your business is solidly profitable, this can be done.

until then, it can’t

banks aren’t completely stupid.

]]> Comment on How does your credit get affected by a closed credit card account due to a stolen credit card? by dustoff http://www.creditunify.info/2010/01/21/how-does-your-credit-get-affected-by-a-closed-credit-card-account-due-to-a-stolen-credit-card/comment-page-1/#comment-244 dustoff Thu, 21 Jan 2010 09:10:55 +0000 http://www.creditunify.info/2010/01/21/how-does-your-credit-get-affected-by-a-closed-credit-card-account-due-to-a-stolen-credit-card/#comment-244 It should not affect your credit at all. This recently happened to my wife. The creditor will indicate to the credit bureaus that the account was closed because the card was reported lost/stolen. It should not affect your credit at all. This recently happened to my wife. The creditor will indicate to the credit bureaus that the account was closed because the card was reported lost/stolen.

]]> Comment on What business credit cards are not attached to my personal credit? by shiprepairwoman http://www.creditunify.info/2010/01/21/what-business-credit-cards-are-not-attached-to-my-personal-credit/comment-page-1/#comment-237 shiprepairwoman Thu, 21 Jan 2010 09:05:54 +0000 http://www.creditunify.info/2010/01/21/what-business-credit-cards-are-not-attached-to-my-personal-credit/#comment-237 Once your business is big enough you should find a card that isn't cosigned by the owner. I work for a large company and we don't have any company cards except home depot and office depot, vendors give you 30 days to pay. Business is judged differently than people they go by your business's Dun and Bradstreet score not a FICO score. Small business is going to be guaranteed by the owners personal assets. Some of our vendors require a corporate officer to sign the credit application. It isn't a problem because officers know if the business is going to pay the vendors. Once your business is big enough you should find a card that isn’t cosigned by the owner. I work for a large company and we don’t have any company cards except home depot and office depot, vendors give you 30 days to pay. Business is judged differently than people they go by your business’s Dun and Bradstreet score not a FICO score.
Small business is going to be guaranteed by the owners personal assets. Some of our vendors require a corporate officer to sign the credit application. It isn’t a problem because officers know if the business is going to pay the vendors.

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