Same here. Discover Biz reported to TU... It is LLC with distinct TIN
Floyds
New Member
posted: Jan. 26, 2009 @ 2:45p
Any luck having it removed? Discover started reporting to my personal TU as well after having the card for 8 months. They report to EX Biz but not DnB, and now reporting to personal. Makes no sense for a business card for an established LLC, with no negative history.
atobias
Senior Member
posted: Jan. 27, 2009 @ 1:26p
I hope this doesn't start a trend. The only reason I have biz cards is because they don't report to personal.
Does anyone have a disclosure agreement which outlines when/in which circumstances they report business lines to personal credit report? I searched their website w/o success.
I listed few details in Business Credit Card thread, in short *13 months old *LLC with distinct TIN *$0 balance after 0% APR BT *partially CLRed to Discover Personal *first appeared on personal TU yesterday, today on EQ *no delinq or negs with Discover of any other card
lhendricks92
Senior Member - 1K
posted: Jan. 28, 2009 @ 9:18a
If this is a trend, we need more data. If you've had a biz card report to personal, please tell us:
1) The issuer (e.g., Discover) 2) Business type (sole prop, LLC, S-corp, C-corp) 3) Potential triggers (e.g., late payment)
My Discover biz showed up on Ex, it says "account opened 7/08" and "account reported since 1/09" I'm a sole prop 0/0. No potential triggers, this account has been utterly without incident. I'm at about 45% util (0% on purchases only), and I have been since the first statement.
It sounds to me like this is a new policy of Discover for '09
Edit: I have 2 other biz cards right now and they are not reporting to personal (knock on wood)
Floyds
New Member
posted: Jan. 28, 2009 @ 2:46p
1) Discover Biz card reporting to personal credit now. 2) LLC (3 yrs. old) 3) No negatives on personal or biz. Have used their BT offer but low balance now.
gamer83
Senior Member
posted: Jan. 28, 2009 @ 4:13p
lhendricks92 said: If this is a trend, we need more data. If you've had a biz card report to personal, please tell us:
1) The issuer (e.g., Discover) 2) Business type (sole prop, LLC, S-corp, C-corp) 3) Potential triggers (e.g., late payment)
1) Discover Biz Card 2) S-Corp 3) None, current on all cards.
Discover CSR told me I cannot have it removed, I plan on calling again.
I don't find this amusing in the slightest bit, especially since I am contemplating Re-Fing a mortgage. I don't need phantom utilizations popping onto my personal report.
dl73
Senior Member
posted: Jan. 28, 2009 @ 4:30p
I just applied for Discover Biz last week (sole prop) and the new account is already reporting on Transunion, nice.
gamer83
Senior Member
posted: Jan. 28, 2009 @ 4:50p
After three more calls I have been informed that it is an across the board Discover policy, that beginning Jan 17th, they are going to report all business lines to personal reports. When I informed them that once small business owners realized that this card was going to nuke their personal reports with high utilizations since small businesses tend to rack up and pay off far more debt monthly than people do in their personal lives, they told me "Oh well".
Yet more proof that Discover is crap for small business owners. I'm sticking to AMEX and Visa/Mastercard.
In response, I plan to never use this card, request a CLI, then just let the limit sit in the liaibity category on their balance sheets generating no revenue for them.
I'm curious how many of your "businesses" with business lines reporting to the personal credit report would pass a cursory smell test for it being a business and supporting "business" classification as used by the IRS as well as supporting the credit lines based on say tax returns for said business? Also, did anyone try to file a dispute with CRA saying it is a business line and not personal line? If so, how did that go?
I'm asking because i have a massive line that so far has not shown up on a personal credit report. In event the line does show up, it would send my scores dropping like a rock. The business, however, is a real business structured as an LLC and it can support the line. The line is about a year old and so far it has not show up. My Mr. Swifty also sent a nastygram regarding this potentially unpleasant experience implying that we would prefer not to deal with it at all, we may play it out and pointing out that Mr. Swifty and us have a reasonable track record at wrestling acceptable solution in unpleasant situations.
gamer83
Senior Member
posted: Jan. 28, 2009 @ 9:33p
EvilCapitalist said: I'm curious how many of your "businesses" with business lines reporting to the personal credit report would pass a cursory smell test for it being a business and supporting "business" classification as used by the IRS as well as supporting the credit lines based on say tax returns for said business? Also, did anyone try to file a dispute with CRA saying it is a business line and not personal line? If so, how did that go?
I'm asking because i have a massive line that so far has not shown up on a personal credit report. In event the line does show up, it would send my scores dropping like a rock. The business, however, is a real business structured as an LLC and it can support the line. The line is about a year old and so far it has not show up. My Mr. Swifty also sent a nastygram regarding this potentially unpleasant experience implying that we would prefer not to deal with it at all, we may play it out and pointing out that Mr. Swifty and us have a reasonable track record at wrestling acceptable solution in unpleasant situations. My business is a real business and would pass a lot more than a smell test. My Discover accout is 8 Months old.
The situation you stated is exactally what I told Discover would piss off small business owners. Their actions are going to tank the scores of Small Business Owners that have a high monthly utilization on the card, yet still pay it off every cycle.
I filed a dispute online with Experian, and I am mailing in my dispute tomorrow with TransUnion. The account hasn't hit my Equifax yet. I will post here and let others know how it goes.
lhendricks92 said: When did they stop sucking?Discover has always sucked. Stingy with CL's and CLI's, not accepted everywhere, and they treat you like its a privilege to have thier card with a crappy CL.
My 15-month-old Discover Biz is now reporting on EXP also. Not sure when it appeared, sometime in the past week (the last statement closed 1/20, so maybe right after that?).
Its a corporate card, with a TaxID.
My Credit Karma score had also jumped 21 points on 1/23, and I didnt know why. Maybe this is why.
First inclination was to try disputing it, but decided to just let it be - it adds an unused $22,500 line to my utilization calculations.....
UnixLab
Senior Member
posted: Jan. 30, 2009 @ 10:39a
My Discover Biz shows up in TU today with OK since Oct. 2008. My 3 in 1 report somehow not show EX info so I don't know if it is in EX. Since I have no balance, that actually makes my score go up.
However, family member also has has a Discover biz still with 0% and balance. Don't see that show up in TU. I wonder it just takes time or Discover actually does us a favor by put that into your report when you have no balance.
For BankAtlantic biz card. It seems it will appear in your personal report if they close your card while you still have balance on it.
UnixLab said: ...For BankAtlantic biz card. It seems it will appear in your personal report if they close your card while you still have balance on it.Does anyone have any other data points regarding Bank Atlantic reporting to personal credit bureau report?
UnixLab said: I wonder it just takes time or Discover actually does us a favor by put that into your report when you have no balance. As I said earlier starting Jan 17th, all business cards will begin to report. They aren't doing anyone any "favors". My guess is when your family member's next statement cuts, the card will report to their personal report, so they better be ready for a score drop. This policy essentially punishes business owners who actually use their card, a strage policy to say the least.
gamer83 said: UnixLab said: I wonder it just takes time or Discover actually does us a favor by put that into your report when you have no balance. As I said earlier starting Jan 17th, all business cards will begin to report. They aren't doing anyone any "favors". My guess is when your family member's next statement cuts, the card will report to their personal report, so they better be ready for a score drop. This policy essentially punishes business owners who actually use their card, a strage policy to say the least.Perhaps they are looking to cleanse themselves of the arbitrage crowd without acknowledging the genuine** biz crowd.... COSTLY misstep on their part.
**MikeR397... I know, I know... New startups are genuine (in spite of 0 revenue and 0 months in business)
vuby00
New Member
posted: Jan. 30, 2009 @ 6:28p
just pulled my credit report and my discover business cards shows up on all three of mine. This is the first time this has happened and really dropped my score. This really pisses me off as I am looking to buy a house. From now on I am only going to use AMEX.
Got an alert from Equifax scorewatch that my fico dropped 30 points. Yep, my Discover biz line was now (after eight months of not doing so) suddenly reporting to my personal report with a 75% utilized 0 percent balance. Pigtruckers. My TU is also showing my payment history back to October. Will have to figure out what to do. May try paying down to 49% to see if that helps.
I have a sole proprietorship, a consulting practice, which is a legitimate business and produces substantially all my income.
I also have a bank atlantic biz card, but it is not reporting to my personal. That would be a bad thing to have happen. Maybe I will proactively pay that one down.
VanceWade said: Got an alert from Equifax scorewatch that my fico dropped 30 points. Yep, my Discover biz line was now (after eight months of not doing so) suddenly reporting to my personal report with a 75% utilized 0 percent balance. Pigtruckers. My TU is also showing my payment history back to October. Will have to figure out what to do. May try paying down to 49% to see if that helps.
I have a sole proprietorship, a consulting practice, which is a legitimate business and produces substantially all my income.
I also have a bank atlantic biz card, but it is not reporting to my personal. That would be a bad thing to have happen. Maybe I will proactively pay that one down. I'd hold off on paying down the Bank Atl. It's not likely gonna show up on personal, and if it does you can pay it off at that point.
As I mentioned earlier, I had Mr. Swifty send a nastygram to Discover. While their response was only an offer for me to pay off the business card and have it closed before the end of the cycle as of now the business card is not reporting on any of my personal credit reports. My business and personal Discover cards have the same statement closing day and personal card has reported updated balances to CRAs within 24 hours. The balances were updated in EQ Commercial to reflect the last payment (the one that did not push the update to personal CRAs) based on the infromation I received from a bank.
tmolloy
Member
posted: Feb. 9, 2009 @ 3:24p
My Discover Biz card reported to both EXP and TU today. Fun stuff.
sechs said: So, are they waiting for the next statement to run before reporting it?It appears so. Makes sense for them to put the Biz accounts on the same reporting schedule as all the other accounts.
gamer83
Senior Member
posted: Feb. 11, 2009 @ 2:54p
gamer83 said: I filed a dispute online with Experian, and I am mailing in my dispute tomorrow with TransUnion. The account hasn't hit my Equifax yet. I will post here and let others know how it goes. I just received my results from Experian. As I feared the account remains.
Important Message From Experian: A corporate account is an account that is opened in the name of a corporation and is not personally guaranteed by an individual. If you agreed to be personally responsible for payments on your company?s account, the account may appear on your personal credit report.
So now Discover does not want business owners to use their card, AND they are pushing away personal use customers with their dwindling rewards program. Add to this that hardly anywhere accepts Discover, and who exactly is their target market for credit these days?
I urge everyone not to cancel your cards, this is what they want. Leave them open so that you are still a liability on their accounting sheets, and simply make no purchases on the card.
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