This is the start of the business credit intel section of the website, which is long overdue and honestly we have been sitting on a lot of this data for far too long. For now we will have all this on one page but will grow beyond that as we need to.
Building credit under a business vs your personal SSN is wildly misunderstood and overly complicated. The biggest difference is you are trading under a business name with an EIN (Employer Identification Number) also called a Federal Tax ID vs a SSN. This also means there is a separate list of credit reporting agencies (CRAs) for your business credit profile vs personal. If you want to better understand all the business credit bureaus and reporting agencies, start here.
If you are looking to form a new entity, the best deal I have found is Northwest, starts at just $39 here.
The easiest way to build business credit is to sign off on it, or be a personal guarantor, meaning you guarantee the loan/credit. You can start building credit that way immediately as long as you have a 640+ personal credit score.
We have an entire playlist covering building your business credit
If you have some datapoints/credit intel you would like to contribute, reach out to us!
| Bank Issuer | Reports to Personal Credit Bureaus | Reports to Business Credit Bureaus |
|---|---|---|
| American Express | Negative info only | Yes |
| Bank of America | No | Yes |
| Barclays | No | Yes |
| Capital One | Depends on card | Yes |
| Chase | Negative info only | Yes |
| Citi | No | Yes |
| Discover | All activity | Yes |
| PNC | No | Yes |
| US Bank | Negative info only | Yes |
| Wells Fargo | No | Yes |
| NFCU | No | No |
| Popular Bank | Yes | No |
And then intel on where business credit cards are pulling and where they are reporting. This seems to be the widely up for debate because there is so much conflicting data out there.
| Institution | What Bureau They Pull | Bureaus They Report To | Notes |
|---|---|---|---|
| Affinity FCU | Ex F8 | Double dip on HPs for 30 days | |
| American Express | Experian Biz, SBFE | SBFE | Users report it doesn't get picked up to big 3 |
| Amex Amazon Business Credit Card | Ex | 680+ on personal 824/ $5500 EX GA 704 NO EX CA 738/ $3000 EX IL 744/$25,000 EX FL 612 NO EX NY |
|
| Bank of America | SBFE | ||
| Bankers Healthcare Group- BHG | SP, PG | None | backed by Blue Ridge Bank now- relationship helps |
| BHG MORE Business Mastercard | SP, PG | $8k 720s | |
| Brex Credit Card | No HP, No PG | Based on business banking history Minimum of $100k in biz bank account, if accredited investor is behind you only needs $50k in business bank account |
|
| Capital One | All 3 personal | D&B, Experian, SBFE | |
| Capital On Tap | SP Experian personal and biz | Experian, SBFE | Based on business banking history Less than 1 year old, $30k revenue Issued by Webbank Need bank statements, EIN |
| Chase | D&B, Equifax, Experian, SBFE | ||
| Citibank | D&B, Equifax, Experian, SBFE | ||
| Citizens | SP Equifax Biz | Equifax, Paynet | stay away from Real estate or Healthcare NAICS |
| Citizens Bank- Everyday Points Business Mastercard | Personal 780 FICO 8 80 paydex, 451 EQ biz $35k (LLC in FL) |
||
| Corpay | Ex | $10k + monthly rev https://cp.corpayone.com/corpay-mastercard/ |
|
| Credit Strong-Credit Builder Account | No HP | Equifax, Paynet | EIN required, been in business 3 months or more Not avail in FL Reports as $10k Tradeline |
| Discover | D&B, Equifax, Experian | ||
| Divvy | No HP, No PG | D&B and SBFE | Gets syndicated out to Experian and Equifax Underwrites you off Imex analyzing your business history, limited history will NOT be approved |
| GM Business Card | SP personal Eq Fico 9 | SBFE, Experian Business | Hearing issues of cards getting locked down on any old purchase Doesn't report to personal $5k @ 21.49% $17.5k 800s |
| Paypal Business Mastercard | Ex personal | Issued by Webbank | |
| PNC/Suntrust | Experian | ||
| PNC Business Visa | HP EX FICO 8 | Equifax | 680+ personal |
| Popular Bank | TU personal | Personal Bureaus | |
| Ramp Capital | No HP | Issued by Sutton Bank and Celtic Bank Minimum of $250k in biz bank account |
|
| Rural King Harvest Business | Ex | ³Business must be located within a 50-mile radius of a Rural King store to be eligible for a Business Loan or Harvest Visa Business credit card | |
| Sams Club Mastercard | No HP, No PG Experian Intelliscore | Have to go into store to apply Low risk rating and Experian intelliscore 76+ Issued by Synchrony |
|
| Tillfull Secured Credit Card | No HP, No PG | Experian, Equifax, D&B | $500 Min Full Video No annual fee No affect on personal credit |
| Tilfull Credit Builder | No HP, No PG | Experian, Equifax, D&B | Monthly payment of $20-$50, you chose No annual fee No affect on personal credit |
| Torpago | No HP, No PG | Based on business banking history, looking for established businesses | |
| Truist | Experian & Equifax | No docs under $50k | |
| US Bank | Equifax, D&B, SBFE | ||
| US Bank World Elite Business Cardd | TU FICO 8 | Equifax, D&B, SBFE | Good-great personal credit Up to $50k CLs |
| US bank Platinum Business | TU FICO 8 | Equifax, D&B, SBFE | Good-great personal credit |
| Wells Fargo | Experian, SBFE | no docs under $50k | |
| Wells Fargo Business Platinum | 800/$5,000 was SP to TU | ||
*CAPITAL ONE: Worth noting that with Capital one a few things have changed..
If you opened a Capital One Spark Cash Plus for business card on or after October 20, 2020, Capital One will NOT report all activity to personal credit bureaus- just negative activity. All other Capital One Spark for Business cards report ALL activity to your personal credit.
