Assuming that the customer has a good credit record, the credit limit will automatically be increased when it is reached, thereby increasing the loan amount without much effort on the part of the business credit card holder.
When the business credit card issuer receives your business credit card application, one of the very first things they do is obtain a copy of your business credit report. It may well scuttle your chances of getting a business credit card if your business does not score too well on the credit report. Maintaining a good credit score needs to be high on the priority list of any business.
Until that happens, your business credit and personal credit will be inextricably linked to each other. When you apply for a business credit card and your business has no credit history, your own personal credit record is the dominant factor considered by the business credit card issuer.
To qualify for a business credit card, a good credit record is necessary. In view of future credit needs such as business credit cards, small business owners should register their businesses with the major business credit bureaus such as Dun & Bradstreet (D&B) or Business Credit USA to obtain credit ratings.
In view of future credit needs such as business credit cards, small business owners should register their businesses with the major business credit bureaus such as Dun & Bradstreet (D&B) or Business Credit USA to obtain credit ratings. When the business credit card issuer receives your business credit card application, one of the very first things they do is obtain a copy of your business credit report. When you apply for a business credit card and your business has no credit history, your own personal credit record is the dominant factor considered by the business credit card issuer.
As with a personal credit card, the business credit card is a highly efficient method for obtaining, granting, and expending loans. Assuming that the customer has a good credit record, the credit limit will automatically be increased when it is reached, thereby increasing the loan amount without much effort on the part of the business credit card holder.
To complete your credit profile, the business credit bureau will also need some information on the rest of your business. Being proactive about it and voluntarily registering with a business credit bureau is a good idea.
It is good to remember that this credit will be included in your personal credit report until your business develops an adequate credit history once you obtain this business credit card. The sooner you can establish the independence of your business credit card from your personal credit, the better.
