Chase Business Cards on Personal Credit Reports?
When you apply for a business credit card, you will usually see a hard inquiry on your credit which leads to a small drop in your personal credit score.
But as long as you use a business credit card responsibly and pay it on time, most issuers will not report your activity to consumer credit bureaus, unless you are late for several months or have a delinquent account.
However, many Chase business cardholders have noticed in recent days that their cards are showing up in their personal credit report. This is bad news for those who are worried about Chase 5/24, and those with high balances on their business cards, since it affect their utilization ratio and impacts their score.
The strange thing is that the cards that are suddenly showing up on personal credit reports are not new cards. These are cards that were opened months or years ago. So obviously something has changed in the way Chase reports to credit bureaus, and likely it’s an error.
A plausible explanation comes from one of the may datapoints on reddit:
Chase had halted credit reporting since December due to an issue on their end. This month, they resumed reporting, but many accounts were mistakenly reported to personal credit.
There are a few other similar comments, so the good thing is that this is most likely an error. The bad thing is that you will need to call Chase and request that they fix the error. That should take 1-2 months.
Let us know in the comments if you are affected by this!
HT: reddit & Doctor of Credit
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