How can I get B of A to report to the credit folks for my personal credit score the activity on my two business credit cards that have my social attached to it. It also has my fed Id #S, but I am soley responsible for payment and I have no other source of credit reporting so I do not have a score at all. I am trying to get a loan to buy a second home! I spend thousounds of dollars a month on these cards and need that history to be reported personally.

Thank you
m david shurtleff

Answer – David, first a couple of clarification. Business credit cards in general to not report to your personal credit bureaus even though you are personally liable. However, have a couple of late payments or default on them and your personal credit score gets dinged!

If you have no other credit, then perhaps getting a “personal credit card” will do the trick. It appears that you use credit cards mainly for your business and do not use a personal one at all. Just get one and occasionally charge the card and pay it off fully every month. You should develop a decent history within a year or so. That should help you get better rates for your mortgage for your second home. You might to start off with checking out our list of best credit cards recommendations.

Having said that, in this environment, I suspect your credit score will not be the only factor in your ability to get the best mortgage rates. Your income will also be very important.

This entry was posted on Wednesday, October 28th, 2009 at 09:19 and is filed under Credit Cards FAQ. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.