4.
Re: Venture Capital for startups Jan 8, 2009 12:33 AM
in response to:
moneyresource
It appears the information you have provided on your post might not be correct. If an individual chooses to provide a vendor/creditor their personal information on a business credit application, not only will their business credit be at risk, but their personal/consumer credit will be at risk as well.
This appears to be a misinterpretation of the facts, when someone tells another person their personal credit will not be impacted (in a positive/negative way), after receiving a business credit card when they personally guaranteed the card. Once you have provided the creditor with your SS# and DOB, then you have opened up your personal credit to the vendor. He/she has the authority to report both positive/negative information on your personal credit file.
It is always advised to never provide a vendor/creditor with your SS#, regardless to what they might tell you. Again, once they have your signature/authorization to pull your consumer credit report they will continue to report back any information to your consumer credit file whether positive/negative. Shalom!!
