Chase Business Cards Reporting To Personal Credit

Last week something new, and not all that welcome, started to happen. Chase business cards started reporting to personal credit reports. It wasn't just for new accounts either, but for cards there were signed up for weeks, months and even years ago. This was a huge change from previous years when spend on Chase business cards was not reported to personal credit. That was unless you were late on a payment at least. If that ever happens then there is a chance that it would end up being reported. So, what is causing this and is this a long term change? Let's dive into it.

What Happened?

The fact that Chase business cards started reporting to personal credit was first posted by Doctor of Credit. We started receiving data points in the ToP Facebook Group very shortly after that. Those reports continued throughout the day and into this week. This is not affecting everyone, but it doesn't seem to be a small scale issue either. There is no rhyme or reason on which Chase business cards will start reporting to personal credit, or what dates are included. It is all over the place.

That is why we initially thought that this was a glitch with Chase's system. If it was intentional, then there would have likely been a press release about it, and it would have been a system wide thing. Initially we did see some reports of Chase employees saying this was a corporate change starting March 1st. However, that was likely an agent just making stuff up on the fly. If you think they would never do that, then I have am ocean bridge to sell you in Arizona!

Once Chase had a chance to get its feet underneath itself with this system glitch they started saying that it was a known error. Some agents have said you need to call in to get it fixed, while others have said it should be corrected by the next cycle. I would imagine that this is something that they will fix on their own. If you need quicker action, because it is making your credit report looking like a leaky dam – or are just a worrier, then calling probably wouldn't hurt. Simply call the number on the back of your credit card to inquire. Hopefully you will speak to someone that has received a memo on all of this.

Will This Hurt Your 5/24?

The next worry people had was if this will hurt your 5/24 count. In theory it could, but I would doubt it. That answer is for the short term too. Because as soon as they correct these business cards reporting to personal credit it shouldn't be an issue anyway.

I say that I don't think that it will be an issue in the short term either because Chase has always known how many Chase business cards you have signed up for in the last 24 months anyway. They see all of the hard pulls from other bank business cards too. That just isn't how their 5/24 system works. We also have positive data points from people that were approved even though these error credit reports would have pushed them over 5/24.

Chase Business Cards Reporting To Personal Credit: ToP Thoughts

I know that people were probably freaked out when they saw Chase business cards start reporting to personal credit reports, but it should be fixed soon. Hopefully without any intervention on your part as well. This shouldn't change your approval chances with Chase (in terms of 5/24 at least). It could change your credit score enough that you may want to hold off with applying at some other banks in the mean time though. That would be because the utilization rate on your cards could have taken a big hit.

Let us know if you were caught up in this error over in the ToP Facebook Group.