I was recently sitting with a Chase banker and the banker was trying to convince me to get a Chase business credit card. I sat there courteously and listened to his pitch (I did not tell him, Hey man, I do credit cards for a living, I probably know them better than you).
He told me to get a Chase business card because unlike all other banks Chase is the only one that does not report their business credit cards on a personal credit report.
That’s not at all accurate. It’s true that Chase does not report business cards on personal credit reports, but are they the only ones? No! Actually, most banks don’t. I will give you the full list in a moment.
Why does it matter?
Before I go into detail on which bank does or doesn’t report business cards on your personal credit report, let’s first discuss why it matters.
- Credit Utilization: Because business cards don’t report on your personal credit report, carrying a high balance on a business card will not affect your credit score due to the high credit utilization. So if you carry a large balance on a business credit card, you can rest assured that the balance will not affect your credit score.
- Chase 5/24 rule: Chase has a rule that if you opened 5 or more cards in the last 24 months then Chase will not approve you for a Chase card. Business cards that do not show on your personal credit report will not count towards the 5 cards.
- Score being hit by new account: Usually, when you open a new card, your score can drop a bit for the first six months due to the new account showing on your credit report. With a business credit card, the new card will not show on your personal credit report so your score will not be affected by the new account (don’t confuse this with a credit inquiry. A credit inquiry will show on your credit report and can slightly affect your credit score even with business cards).
Will a business credit card not show on my credit report even if I pay late?
When applying for a regular business credit card you are taking personal responsibility to pay back the balance. If you end up not paying on time the banks will report the late payments on your personal credit report even with business cards that usually don’t report (the banks are nice as long as you’re nice).
Will a credit inquiry show up on my credit report when applying? Do I need good personal credit?
As discussed above, because you’re taking personal responsibility to pay the balance the bank will want to check your personal credit before approving the application and they will only approve the credit card if you have good personal credit. A credit inquiry will show on your credit report even when you apply for a business credit card.
Amex does not pull credit 95% of the time for existing customers. So if you’re an existing customer of Amex, you can assume that Amex will not pull your credit when applying for an Amex card, including business cards.
Which business cards do not report on your personal credit report?
| Reports business cards on your personal credit report? | |
| Amex | no |
| Bank Of America | no |
| Barclays | No, Barclays business cards generally don’t report. Starting in 2022, new applicants for the Wyndham Business card have been seeing the card being reported on their personal credit report. I am not sure if this is a temporary glitch or a change in policy |
| Capital One | Yes, except the card_name and the card_name |
| Citi | no |
| Chase | no |
| Discover | yes |
| M&T Bank | no |
| US Bank | no |
| TD Bank | yes |
| Wells Fargo | no |
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Hello,
In regards to: “ Will business credit card not show on my credit report even if I pay late?
I wouldn’t pay late but since I was given a 0% APR for the first 12 months, what if I make the minimum monthly payment? Will I still be okay and will my personal credit score NOT be affected? (I have a chase business unlimited card)
Thank you
Correct
Yes
The spark actually does report to your personal credit. Just found out this month I’ve had it for about 4 months now and boom it just shows up taking 17 points off my personal score. So yes SPARK BUSINESS DOES REPORT ON YOUR PERSONAL.
Like many other you are confusing the Spark card with the Spark Plus card. These are two different cards. One reports and one does not.