Can I put the corporation on my personal credit line to make it stronger?
2006-10-16 13:31:07 · 2 answers · asked by vegeta 1 in Business & Finance ➔ Corporations
I would not advise you to do that. Only because you want you and your corp to stay separate. Think of it as a marriage. You have a social, the corp has its tax id number, If you start combining things as important as your credit line all the weight is on you if something were to happen with your corp. if for some reason your corp went bankrupt, do you really want that following you around under your social sec number? NO, and there are many other examples I could use, but I'm sure you get the point, it could financially ruin you if something were to happen to your business. So just get that American express card under your corps tax id number.
I hope this helps!
2006-10-18 03:14:29 · answer #1 · answered by Curious 3 · 0⤊ 0⤋
The best thing to do is get a credit card, in your corporations name. And your name as a co-owner. That way both you and your company will build credit. American Express is very good for doing this.
2006-10-16 20:34:35 · answer #2 · answered by Kali_girl825 6 · 0⤊ 0⤋