[pedalpete]

How did your credit line get expanded without you knowing it?

A key detail I was not aware of is 'business cards get switched to personal cards when not pain on time'. That's a bit one that we should all be aware of (though I don't have a business card yet, good to know).

[alain94040]

This is not how it works. When you open your business credit card, make sure it's not a personal credit card in disguise. The credit card needs to really be linked to the business. Then, iy cannot be switched to personal, ever.

The trick is that many credit card companies will be happy to extend credit to you personally (your SSN), and agree to print a fancy "company name" on the card, so it makes you feel important. Wrong approach.

It's simple to tell: if you provide your SSN, you lose. If you only provide your company's EIN, fine (and read the small print).

[StartingOver]

Yes, good to know. They kept things under the EIN until it went unpaid, then they switched to my SSN. That got my attention, of course, and I've learned a lot since then.

[mgkimsal]

I've had credit lines expanded on me with just a letter in the post saying "we've upped your credit line". I didn't ask for it. Granted, I still keep up on stuff regularly, and noticed quickly, but it wasn't something I applied for. In some situations, I can imagine a busy person not noticing for several months.

[StartingOver]

Yes, particularly if you aren't the one doing the financial reports (which stopped by the way, along with bills getting paid, etc., etc).