Business Credit linked to Personal?

clock68

Hi there,

totally new to the site as a member although i have read with interest many articles which have helped me to no end.

I have searched the forums but cant find anything related to this... I have a relatively succesful business with a healthy balance that has been well managed for some time. However my personal credit rating is relatively poor owing to some silly debts incurred when i was a student. Because I am self employed and struggle to get meaningful credit personally most of my Outgoings are business related and come out of Business account (legitametly I might add! Phone, Business Credit Card etc.)

My question essentially is, will the fact that my business accounts have multiple D/Debits good cashflow and no defaults (solely in my name, at my address) be positively affecting my Personal Credit Score?

Thank You in advance

DCFC79

clock68 wrote: »

I have searched the forums but cant find anything related to this... I have a relatively successful business with a healthy balance that has been well managed for some time. However my personal credit rating is relatively poor owing to some silly debts incurred when i was a student. Because I am self employed and struggle to get meaningful credit personally most of my Outgoings are business related and come out of Business account (legitimately I might add! Phone, Business Credit Card etc.)

My question essentially is, will the fact that my business accounts have multiple D/Debits good cash flow and no defaults (solely in my name, at my address) be positively affecting my Personal Credit Score?

Thank You in advance

Don't worry about your "Personal Credit Score" as it doesn't exist as per my signature.

I don't think they would as the multiple D/Debits, good cashflow and no defaults are business related rather than personal, the good cash flow in no way affects your credit history, just affects your relationship with your bank.

A way to check would be to sign up to Experain or Noddle or Equifax and see if anything business related is registered.

Someone more knowledgeable will fill in any blanks.

clock68

Thanks DCFC, helpful but as per your your signature i suppose the question then reverts to whether a good credit History with my Business account will improve/be taken into consideration when applying for personal credit?

The crux of it is that I have'nt got much coming out of my personal account and Im thinking long term...Applying for mortgages etc.

Thanks Again

Thrugelmir

If you self employed then the lines become blurred. As "you" are the same entity. You personally are rated not your business.