Just got off the phone with Farm Bureau Bank. At first the underwriter was as dumbfounded as I that the Biz LOC was reporting on hubby's Experian report. She said, "we never report to ANY of them." (This was the same underwriter who set up the LOC for our corporation.) She consulted with a supervisor, then came back online and sheepishly explained that apparently this was now the policy of Farm Bureau. We asked to speak to her (Sherrill Watson 1-800-492-3276). She said that it had always been Farm Bureau's policy and that the underwriter had misinformed us (any all other applicants). She added that Farm Bureau had a computer glitch for a year now that they had been working on with the CRA to get fixed so that they could report. They will be reporting ALL biz LOC on everyone's personal credit reports from now on. If you have a biz LOC with these people, get it paid off now!!! If you don't and expect your biz LOC's to be hidden, DON'T EVER APPLY FOR THE "Farm Bureau Bank Business LOC". I told her that we would be BT the balance off immediately and would never again use it or any other of their products. She actually seemed quite stunned and remarked that she supposed that many other would be calling in once they realize it's reporting. I told her "yeah and good luck with that because other than paperwork, the only reason to have a biz LOC instead of a personal LOC is so it does not make hash out of your personal finances and credit reports."
BUSINESS should report as BUSINESS NOT PERSONAL Not supposed to even SHOW!!! Sometimes they check "PERSONAL" credit at application time...BUT THAT IS IT... ...from what others have said
