Don’t Make Business Credit Card Personal

Posted by administrator | 15/08/12 | Tagged Credit Card

Don’t Make Business Credit Card Personal
News from Fox Business:

Dear Credit Card Adviser,
I recently applied and was approved for a business credit card. I used my name as the name of the business and my Social Security number as the employer identification number, and I classified myself as a sole proprietor.

Other than the credit inquiry to open the account, do business credit cards show up on personal credit reports? While I understand I’m liable for the charges, is it possible for me to bury my spending on my business card to keep my personal credit report free and clear and create a nice, healthy credit history for lenders to see?
— Nick

Dear Nick,
Unfortunately, you’ve basically signed a personal guarantee on the small-business credit card, and your personal credit could be at stake. Because the card was given to you based on your individual credit history and credit score, the issuer most likely will report the card’s performance to your personal credit files. But what issuers report varies by company.

Some issuers may report all information to your personal credit files. Others may only report negative information from small-business credit cards and ignore the positive payment history. That means if you only use your small-business credit card — and you use it responsibly — none of that good performance is recorded on your credit report and can’t help…………… continues on Fox Business

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Starwood Hotel Credit Card: Up To 30000 Bonus Points For A Limited Time
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Suspects rob man at gunpoint, use his credit card

Posted by administrator | 15/08/12 | Tagged Credit Card

Suspects rob man at gunpoint, use his credit card
News from Live 5 News:

CHARLESTON, SC (WCSC)- A report states two suspects asked their victim for a cigarette before robbing him at gunpoint in downtown Charleston.

Charleston Police are searching for two men who they say used a handgun to rob a man near 25 Morris Street at 1:20 a.m. Sunday morning. The suspects later used the victim’s credit card numerous times in Charleston and North Charleston.

According to a report, the victim says he was at the corner of Saint Philip Street and Morris Street when one of the suspects approached him and asked for a cigarette. The victim said he did not have one and began to walk down Morris Street.

Moments later, police say a second suspect crossed the road towards the victim and, while holding a gun, demanded everything in his pockets. The suspect who previously asked for a cigarette stood and watched.

Police say the suspects took the victim’s I-Phone and his wallet, which contained money and a credit card, before fleeing the scene.

A report states that the suspects also stole the victim’s cigarettes and his lighter.

Police describe the suspect who was carrying the gun as a black male in his early-to-mid twenties. He is 6-feet tall, a thin build, and has a goatee.

The other suspect is also a black male in his early-to-mid twenties. He is approximately 5’7 to 5’9, has a thin/muscular build, and has braided…………… continues on Live 5 News

… Read the full article
.

Related News:

US consumers cut back on credit card use in June
News from Atlanta Journal Constitution:

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The Associated Press

WASHINGTON — Americans cut back on credit card use in June, a sign that high unemployment and slow growth have made some more cautious about spending.

In this July 18, 2012 photo, credit logos are seen on a downtown storefront as a pedestrian passes in Atlanta. U.S. consumers likely took on more debt in June, even as they largely kept spending in check. Economists forecast that consumer borrowing increased by $ 10.5 billion in June, according to a poll by FactSet. The Federal Reserve will release its report at 3 p.m. Eastern time Tuesday, Aug. 7, 2012. (AP Photo/Ashley Hopkinson)

Still, total consumer borrowing increased as many kept taking out loans to buy cars and attend school.

Consumer borrowing rose by $ 6.5 billion in June from May t…………… continues on Atlanta Journal Constitution

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