Business Credit Cards Without Personal Guarantee
Getting a business credit card with no personal guarantee is virtually impossible. Its main purpose is to provide businesses with a funding solution of.
Different from a bank debit card or a traditional credit card these cards may offer some of the same perks as traditional credit cards such as travel assistance and rebates at certain businesses.
Business credit cards without personal guarantee. The Brex Corporate Card for Startups is a corporate credit card that foregoes personal guarantees. This means you can help your cause by incorporating or becoming a limited liability company LLC. As previously stated most business credit cards that dont require a personal guarantee are issued by stores instead of banks.
It offers business credit cards without personal guarantee that is free of annual fees and personal guarantees. You may have an option to negotiate out of a personal guarantee requirement if you have strong business financials a low debt obligation and solid payment history. Corporate credit and charge cards are the main way to get around a personal guarantee for a business card but theyre definitely not for every business.
This is a separate entity from the owner s. Getting a business credit card without personal guarantee is not easy but its possible. Is a financial service and tech company based in San Francisco.
It also has high income requirements and still prefers to work with medium to large businesses. With this in mind once your business is rather large for instance once it has enough employees or a high enough revenue stream you may be able to sign up for a corporate credit card. You can use it wherever Mastercard is accepted and thats nearly everywhere credit cards are accepted and you.
Step 1 Set apart yourself from your company. Nearly all of the business credit cards with no personal guarantees that we could track down had strict business parameters. A representative of the company almost always has to agree to personally pay any balances the business cannot.
The Brex Card for Startups for example doesnt require a personal guarantee but your company must have at least 100000 in the bank to qualify. Of all the credit cards we reviewed only one the Bremer Bank Visa Signature Business Company Card doesnt require a personal guarantee. Businesses have to prove that they have a track record of financial success meet minimum revenue thresholds andor hold a certain amount in cash reserves.
That said the card is designed for medium and large businesses only which excludes many small-business owners. Nonetheless there may be an option out there that makes sense for your business. Here are the top business credits cards with no personal guarantee.
The first option is to lean on your long-term relationship with the bank if you have one. Business credit is essential for any aspiring or esta. In terms of credit cards you can get without a personal guarantee the Sams Club Business Mastercard is actually fairly flexible.
Sams Club Business Credit Card. For one thing your company will generally need to be an actual corporation eg an S or C Corporation to qualify though some cards will allow LLCs. Large corporations with tens of millions of dollars in annual revenue can get corporate credit card accounts using their assets as collateral.
Credit cards without a personal guarantee are frequently marketed as corporate credit cards. Small business credit cards without a personal guarantee are very rare. Would you like to learn how to accumulate hundreds of thousands of dollars to jump-start your business.
If youre trying to avoid the personal credit check that most business credit cards require you could consider a prepaid card. The Bremer Bank Visa Signature Business Company Card is an actual business credit card no personal guarantee necessary. If you are able to get one you will enjoy no annual fee and a rewards program.
Get Business Credit Cards with no Personal Guarantee. Underwriting is based on your business bank.
