Comments on: Difference between personal and small business credit? http://www.agedcorporationsecrets.com/business-credit-lines/difference-between-personal-and-small-business-credit Information on Shelf Corporations, Aged Corporations and Business Credit Lines Fri, 03 Sep 2010 12:08:59 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Initial Underwriting Group http://www.agedcorporationsecrets.com/business-credit-lines/difference-between-personal-and-small-business-credit/comment-page-1#comment-195 Initial Underwriting Group Thu, 01 Oct 2009 01:20:59 +0000 http://www.agedcorporationsecrets.com/business-credit-lines/difference-between-personal-and-small-business-credit#comment-195 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<br><b>References : </b><br> 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
References :

]]> By: bdancer222 http://www.agedcorporationsecrets.com/business-credit-lines/difference-between-personal-and-small-business-credit/comment-page-1#comment-194 bdancer222 Thu, 01 Oct 2009 00:34:59 +0000 http://www.agedcorporationsecrets.com/business-credit-lines/difference-between-personal-and-small-business-credit#comment-194 Credit bureaus don't keep files on businesses, just people. Creditors extending credit to businesses base the decision on D&B ratings or actual credit inquiries to bank and trades<br><b>References : </b><br> Credit bureaus don’t keep files on businesses, just people.

Creditors extending credit to businesses base the decision on D&B ratings or actual credit inquiries to bank and trades
References :

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