The only secured business credit card that reports to D&B is the Wells Fargo Business Secured Mastercard. It offers 1.5% cash back on all purchases, charges an annual fee of just $25 and requires a security deposit of at least $500.
There are just two other secured business credit cards available right now: the BBVA Compass Business Secured Visa and the Metro Credit Union Visa Secured Card. Those two 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.
Here’s what you should know about secured business credit cards that report to D&B:
- 1 of the 3 available secured business credit cards reports to Dun & Bradstreet: Wells Fargo Business Secured Mastercard.
- All major secured credit cards report to the three consumer credit bureaus: Equifax, Experian and TransUnion.
- D&B, Experian and Equifax 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.
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. And then you need to ask your vendors to report your payment history to D&B using your D-U-N-S.
That’s at least what Dun & Bradstreet recommends. Tracking so-called trade credit is one of the most important things business credit reports do that personal reports don’t.