Over the weekend there was a big scare, to put it mildly, with Chase business credit card customers finding other that their Chase business cards, like the Ink Business Preferred® Credit Card, the Ink Business Cash® Credit Card, the Ink Business Unlimited® Credit Card, and even co-branded cards like the United℠ Business Card.
The Chase Ink line of business credit cards was causing the biggest concern by far.
Doctor of Credit had a post with over 206 comments as of this writing with various data points. It’s been a big talking point on many blogs and Reddit / Facebook groups. Of course some people posted their data points on the MilesTalk Facebook Group as well.
One person claimed the Executive office told him it’s a new policy. (Hint: It’s not!)
As most of us know, a business credit card reporting to personal credit is a big deal. It means that if you run up a big balance as part of a normal course of business (it’s your working capital in many cases!) it could clobber your personal credit. It would also mean the cards would add to your 5/24!
No credit card issuer reports business credit cards in good standing with the exception of Capital One business credit cards (the Capital One charge cards – the Venture X Business and Capital One Spark Cash Plus do not report to personal credit).
This is such a big deal that we even have a filter called “Does Not Report Credit Line to Personal Credit Profile” at Your Best Credit Cards.
So let’s Cut to the Chase….
Many people calling are being told various things; that it’s new, that it’s an error but you have to XYZ to fix it, etc.
I had a feeling this was an error and was perhaps hopeful more than anything.
Chase happens to be an issuer I have a good range of contacts that I know well, so I fired off an email late last night to find out the truth.
And here it is. According to a Chase spokesperson:
“Some Chase business credit card accounts were incorrectly reported to consumer credit bureaus due to a recent system upgrade.
The issue is being fixed, cardmembers don’t need to do anything right now and we apologize for the error.
And there you go. The official word from the official source of truth.
Nothing to worry about. It will be fixed without any intervention on your end.
If you have any questions, let me know, but this should be as simple as “things will be sorted soon.”
Thoughts?
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You can find credit cards that best match your spending habits and bonus categories at Your Best Credit Cards.
New to all of this? My “introduction to miles and points” book, MilesTalk: Live Your Wildest Travel Dreams Using Miles and Points is available on Amazon and at major booksellers.
