How does my business affect my credit?

[Bades]

I have an LLC in Ohio, a pass through entity. I fill out a 1040 Schedule C to report taxes etc. I have a Chase Business Mastercard too. Does this credit card and my business dealings affect my score?

Thanks

[bjl584]

I doubt it. Your score is effected by outstanding balances, credit history, amount of credit, and other factors. Having an LLC shouldn't matter.

[Bades]

Yeah didn't know because the LLC is in my name and my name is on the business CC.

[scubatim84]

It depends if you used your own personal credit to guarantee the business credit card or not. A lot of business owners, myself included, have to do this. When you form a new LLC or corporation, that entity has a separate FEIN and is completely separate from you as an individual. The problem? That separate entity also has no credit. I'd be surprised if you didn't have to use your own personal credit to get your first business card. That being said, if you did have to do that, I would think it would be tied to your credit until you open up a new card in only your company's name. An easy way to check is just run a credit report for yourself and see if the business card is on there.