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How Company Credit Cards Affect Your Credit Score

At O1ne Mortgage, we prioritize educating our clients about consumer credit and finance. Understanding how company credit cards impact your credit score is crucial for making informed financial decisions. If you have any mortgage service needs, feel free to call us at 213-732-3074.

Does a Company Credit Card Affect My Credit Score?

Whether a company credit card affects your credit score depends on several factors:

• Business Owners: If you are a business owner with a small business credit card, it might be reported to consumer credit bureaus like Experian, TransUnion, and Equifax. This can impact your credit score.
• Authorized Users: If you are an authorized user on a small business credit card, the account might be reported under your name, affecting your credit score.
• Corporate Cards: If you have a corporate card from a large employer, it generally won’t affect your credit score as it is not reported under your name.

Do Company Cards Show Up on My Credit Report?

Business credit cards may appear on your credit report depending on the issuer’s policies. If the issuer reports to consumer bureaus, the card might show up if you are the primary cardholder or an authorized user. However, many issuers do not report small business credit cards to consumer bureaus unless there are late payments.

Was My Credit Checked When I Got My Company Card?

When applying for a business credit card, issuers typically check your credit report, resulting in a hard inquiry that can affect your credit score. However, if you are added as an authorized user or receive an employee card, your credit is usually not checked.

How Can I Avoid Negative Impacts to My Credit?

To prevent a business credit card from hurting your credit score, ensure timely payments. If you are an authorized user on a card that is negatively impacting your credit, you can request the issuer to remove you from the account or file a dispute with the credit bureaus.

Monitor Your Credit for Changes

Monitoring your credit is essential to understand the factors affecting your score. At O1ne Mortgage, we recommend keeping an eye on your credit reports and scores. For any mortgage service needs, call us at 213-732-3074. We are here to help you make the best financial decisions.

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