Hit some hard times and was late on my Capital One business account a few times. Capital One moved me to 22% APR and a high set monthly payment ($450.00/mo). The payment is too high and I'd like to know what I can do about this? Also, my business account is separate from personal credit card accounts. Will problems with late payments on business account effect my personal credit rating?
How is your business organized? Are you a Ltd co. or a sole proprietor? In the Province where I live you can get away with having a bad entry on your business CR if you are a LTD. company. If you are a SP. it is the same as messing up your personal credit file.
Your business credit should be as important as your personal credit. Show responsibility in your business as well as in your individual credit and you will be rewarded. Follow GEORGE's advice and do BT, even if it is from your personal to your corporate. www.creditsense.com
