Discovering the Best Business Credit Cards: A Guide to Which Credit Bureau They Pull From
As a business owner, you likely know the importance of having access to credit. Whether it’s to finance inventory, equipment, or to cover unexpected expenses, having a business credit card can be a lifesaver. However, with so many options out there, it can be challenging to know which credit card is the right fit for your business. In this article, we’ll provide you with a guide to help you discover the best business credit cards and understand which credit bureau they pull from.
The Importance of Credit Bureau Inquiries
If you’re not already aware, when you apply for a credit card, the issuer will typically ask for permission to access your credit report. They use this information to determine whether or not to approve your application and to set your credit limit and interest rate. The three main credit bureaus in the US are Experian, Equifax, and TransUnion.
It’s important to note that each time a lender or credit issuer requests access to your credit report, it’s referred to as a “hard inquiry.” Hard inquiries can negatively impact your credit score, so it’s essential to be strategic when applying for credit. Too many hard inquiries in a short period can make you look high risk and potentially hurt your chances of getting approved.
Which Credit Bureau Do Business Credit Cards Typically Pull From?
Now that you understand the impact credit bureau inquiries can have on your credit score let’s dive into which credit bureau business credit cards typically pull from. The truth is there is no straightforward answer. Each issuer can choose to pull from one or more credit bureaus depending on their business requirements and risk assessment criteria.
However, we’ve done the research, and here’s what we’ve found for some of the most popular business credit cards:
Chase Ink Business Preferred
Chase usually pulls from all three credit bureaus, but most commonly, they pull from Experian.
American Express Blue Business Plus
American Express usually pulls from Experian, but they can also pull from Equifax and TransUnion.
CitiBusiness / AAdvantage Platinum Select World Mastercard
CitiBusiness typically pulls from Experian or Equifax but can also pull from TransUnion.
Capital One Spark Cash for Business
Capital One typically pulls from all three credit bureaus.
Bank of America Business Advantage Cash Rewards MasterCard
Bank of America usually pulls from Experian.
Final Thoughts
While knowing which credit bureau an issuer pulls from is helpful, it’s not the only factor to consider when choosing the best business credit card for your needs. Other important factors to consider include interest rates, annual fees, rewards, and benefits.
It’s also worth mentioning that if you’re interested in applying for multiple credit cards, it’s best to spread out your applications to avoid too many hard inquiries in a short period. Taking this approach can help you protect and potentially improve your credit score over time.
In summary, take the time to research and compare different business credit card options to find the one that fits your needs best. Understanding which credit bureau they pull from is just one piece of the puzzle. By putting in the effort and doing the research upfront, you’ll be on your way to discovering the best business credit card for your business.
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