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One secured business credit card that reports to D&B is the Business Advantage Unlimited Cash Rewards Secured credit card. This card offers 1.5% cash back on all purchases and requires a security deposit of at least $1,000.
There are other secured business credit cards that report to the three major consumer credit bureaus – Experian, Equifax and TransUnion – but not to D&B, at least not directly. Dun & Bradstreet often incorporates information from the other bureaus’ reports.
Things to Know About Secured Business Cards That Report to D&B
- All secured business credit cards report to the three consumer credit bureaus: Equifax, Experian and TransUnion.
- D&B, Experian Business, and Equifax Business are the three major business credit bureaus.
- Dun & Bradstreet reports are geared more to credit agreements with vendors, bank loans and annual revenue data.
- Your personal credit history is much more important than your business’s credit history when it comes to getting approved for a business credit card.
- Small business owners are personally liable for debt on nearly all business credit cards.
Although opening a credit card is the easiest way to build credit personally, it’s not as efficient with business credit.
How to Set Up Your Business for Credit Reporting
If you want to build business credit, your first step to be to register for a D-U-N-S Number from D&B. This will get you on Dun & Bradstreet’s radar, at the very least. You should also open a business bank account using your Employer Identification Number. That will help establish a financial identity for your company that’s separate from you as an individual.
Then, you need to ask your vendors to report your payment history to D&B using your D-U-N-S. Tracking so-called trade credit is one of the most important things business credit reports do that personal reports don’t.
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Divine Orator, Member
@baalpeteor
wells fargo seems to be trash. It can help if you just need a card, but reporting? .. people have reported that nothing shows on their EIN business wise. and they also could never get an upgrade to a better account even with 800 credit and 6 figures going thru a WF checking. trash for actually building credit.
I agree. Not only those issues you have mentioned. They are also racist & bias, towards certain nationalities, to be approved for the secured card. No matter how high your credit score is or how much you are bringing in. I was with WF for over 5 years and kept getting denied. I ask why, because it didn't make sense. Then a report came out, that the president was turning down applications from African Americans. Then it all started to make sense. I have now moved over to capital one for all my banking needs. I also got approved right away for a business credit card, that was not secured, and had a bigger limit. I love Capital one and highly recommend them. I have 2 credit cards with them, a checking & savings acct.
People also ask
Can you get a secured credit card in a business's name?
Yes, you can get a secured credit card in a business’s name if you apply for a secured business credit card. To get a secured business card in your company’s name, you will need to provide some information showing that your business is legitimate and you are authorized to represent it, such as an EIN. This is in addition to the information you need to provide to get a personal credit card like an address and Social Security...
read full answer by Ryan P Page, Staff WriterCan I put $2,000 on a secured credit card?
You can put down a $2,000 deposit on most secured credit cards and receive a $2,000 credit limit. Secured credit card issuers usually allow you to deposit $200 to $2,000 or more and will fully refund your security deposit if you close the account with a $0 balance.
Popular Secured Cards That Let You Deposit $2,000+
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Regardless of your credit limit, the purpose of a secured credit card is to help...
read full answer by Adam McCann, Financial WriterDoes American Express offer secured business credit cards?
American Express does not offer secured business credit cards, and it does not have any personal secured credit cards available, either. You can get an unsecured business credit card from American Express, though, if you have the credit required to qualify.
Alternatively, you might want to consider a secured business credit card from another issuer, such as the Business Advantage Unlimited Cash Rewards Secured credit card. This card requires a security deposit of at least $1000 and has a $0 annual...
read full answer by Robert Sambrick, WalletHub AnalystDid we answer your question?
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