Will ruin your business credit scores if you’re trying to build.
Signed up in January ‘23 with this company for my new business in an attempt to build my business credit. Didn’t get my account reported until April and that showed up right after I emailed them ansking about it. Hooray, at least they reported right? Wrong. They report “payments only”, and the way these bureaus are set up, those reported payments are recorded as a balance owed. So guess what? You now have accounts with balances owed and your utilization gets screwed and score plummets. But rest assured, they will let you know they’ve done their part by reporting your payment. They clearly need to re-evaluate how they report their customer’s accounts because they ruined my credit score for now. Now I have to figure out how to fix it and hopefully not have a hard time getting my secured card deposit back.
Dave must be on here writing his own reviews because I found him snarky, even just in email. At least Alyssa seems nice.
Fun fact: I now learned that others in my business group have had a similar issue with their scores dropping because of how their accounts got reported. I’m so disappointed. I had such high hopes for their card and credit builder account.
Response to reply: As I assumed they would, they once again take no responsibility. My card has never had any balances on it, in fact it has once been left with an overage because they took so long to credit my payment that I ended up paying twice because I thought I didn’t pay. They just took almost a week to credit it. Again, they reported the amount of my payment made instead of reporting my balance which was ZERO. I even supplied them with screen shots to show them this. If they would put this much effort into fixing their errors as they do answering bad reviews about their errors, they’d probably be in good shape. They also clearly answer this faster than do they their support request emails. Shameful.
Date of experience: May 30, 2023
