Business Credit Cards that Report to TransUnion

Business Credit Cards that Report to TransUnion

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Opening a business credit card is often considered to be a wise step, as it can help you build credit, manage expenses, and earn rewards. In addition, it’s often one of the recommended ways to create added distance between your personal finances and those of your business.

Despite that fact, it’s often your personal credit that is called in to question when applying for a small business card. As the primary applicant, you agree to what’s considered a “personal guarantee,” taking on the onus us liability of should the debt go unpaid.

With that in mind, it’s important to realize that, for the most part, any small business credit application will result in a hard inquiry on your personal credit and thus can affect your score across all major credit reporting bureaus, including TransUnion. But what about regular use?  Do all business credit cards report activity to TransUnion?

Business Credit Cards that Report to TransUnion

When we talk about credit cards that report to TransUnion, there are two groups that can be used to frame the question: credit cards that always report activity to credit bureaus and credit card companies that only do so when there is negative information, like delinquencies, to report.

If you’re trying to improve your personal credit score and want all activity reported, you may want to consider a card issued by one of the following companies:

Discover

  • Discover it®

The Discover it® Business Card is relatively new and marks Discover’s return to the business finance world. Currently, cardholders can receive 1.5% cach back on every purchase, and new cardholders can take advantage of the card’s “Cashback Match™  welcome bonus, which results in a dollar-for-dollar cash back match as the end of the first year.

Capital One

Recommended Cards:

  • Best for Building Credit – Capital One® Spark® Classic for Business
  • Best for Travel – 50000 Miles once you spend $4,500 on purchases within 3 months from account opening
  • Best for Cash Back – Capital One® Spark® Cash for Business

Capital One® Spark® Classic for Business

Enjoy no annual fee. Earn 1% cash back on every purchase. Build business credit with responsible Learn More

Capital One® Spark® Miles for Business

Earn unlimited 2 miles per $1 on every purchase, everywhere. Earn a one-time bonus of 50,000 miles – equal Learn More

Capital One® Spark® Cash for Business

Earn unlimited 2% cash back for your business on every purchase, everywhere. Earn a one-time $500 cash Learn More

Capital One reports all activity to credit bureaus, including TransUnion, and they offer numerous cards, making it easy to find one to suit your needs.

If you currently have average credit and dare to look for a card that can help you rebuild your personal credit, try the Capital One® Spark® Classic for Business, which offers 1% Cash Back on every purchase.

How, if you’re looking for a more aggressive cash back offer, then the Capital One® Spark® Cash for Business card, which offers 2% Cash Back for your business on every purchase, everywhere. It also comes with a welcome offer of $500 Cash Back once you spend $4,500 on purchases within 3 months from account opening

Frequent travelers, on the other hand, may want to consider the Capital One® Spark® Miles for Business card, which will enable them to earn 2 Miles per $1 on every purchase, everywhere. It also has a welcome offer of  50000 Miles once you spend $4,500 on purchases within 3 months from account opening.

While there are few businesses credit card companies that report all activity to TransUnion and other credit card bureaus, a few others only report negative activity. This is particularly true for American Express, Bank of America, and Chase, both of which offer consumers numerous business credit products.

On the other hand, business credit card companies do not report yours to TransUnion. If your goal is to avoid cards that report to TransUnion, then you may want to consider one a card from U.S. Bank, Wells Fargo, or Citi.

How the Right Business Card can Improve Your Personal Credit Score

In some cases, choosing a credit card that does not report to TransUnion can help offer an added layer of protection between your business and personal finances. This is particularly true if you expect to accumulate high balances on your business credit card.

In that case, the significant balance will impact your available credit, which factors into your overall credit score. A higher level of utilization can negatively impact your score.

There are, however, ways that a business credit can help boost your credit. If you have a card that reports to one or all of the major credit bureaus, here are a few ways you can help your personal credit improve or remain healthy.

  • Make payments on time every month. Your payment history plays a major role in establishing credit, and late payments will inevitably bring your score down.
  • Avoid carrying a high monthly balance. As already indicated above, a high monthly balance will decrease your available credit. Keeping your utilization below 30 percent can help improve your overall score.

While it’s common to compare the rates, rewards, and welcome offers as they relate to a specific business credit card, it’s advantageous to compare if and how they report your information to companies like Experian, Equifax, and TransUnion. Before you make your decision, determine how a business credit card will impact your personal credit.

Ready to see your credit data and start building better business credit? Check Your Personal and Business Credit For Free (No Credit Card Required).

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