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Can I use my business credit for everything?

Home Forums Financial Security Can I use my business credit for everything?

This topic contains 1 reply, has 2 voices, and was last updated by  security43 7 years, 2 months ago.

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  • #1289 Reply

    Keith Jaxson

    I just wanted to run something by the members here. As a small business owner I have not yet taken the step of actually going and incorporating my business, but this is something that I have been thinking a lot about recently.

    I have had some personal credit issues that have really brought me down and caused a lot of trouble. As I looked at some of these sites and programs of those who say they can help you with fixing bad credit, most use the trick of basically opening a duplicate file. Then, you simply use this second social security number for everything.

    So, I was wondering if it would be possible to do something similar. Here’s my idea. I incorporate my small business. This will give me a new credit file and also a tax identification number. Now, can I just simply use that number for everything where I need to give my social security number? It is basically the same idea, and I think it just might work. Any comments?

  • #1290 Reply


    While I think your idea has some merit, it will probably not work out quite effectively as you think. Sure, you could try to pass off the number as your personal social security number. And most places that request this number probably will not care a whole lot. But the bottom line is that you don not actually have a second social security number. What you have is your original personal social security number (just as you have always had; the one that you have gotten into trouble with) and a tax identification number for your small business.

    It should be clearly understood that these numbers are not the same thing. Not by a long shot. I would definitely not recommend that the tax id number ever be used on anything that carries any type of degree of officialness to it (yea, I know that's not really a word!). Do not even think of pass off the tax id number as your personal social for anything that is government related. Not only can they tell just by looking at the number, but it may even be a crime to attempt to do so.

    Now, I have actually heard about some people who taken your idea and applied it in a very interesting way. Actually, this is pretty ingenious. They have incorporated themselves. They literally filed legal paperwork making their name and themselves a corporation. This makes it even easier for them to make almost everything they do relate to their business.

    You are also correct in that you will still have to pay taxes and make sure that all of your personal obligations are taken care of using your personal social security number. You have been reading a lot of stuff from the con artists of this business. Instead of worrying about getting another number to use, just work through the old fashioned way. Or try a legitimate credit repair service.

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