This is why most issuers of business credit cards require a personal guarantee in the first place. While these arent traditional business credit cards, your business may qualify for one without having to sign a personal guarantee. No matter how many cards you use, points will accrue in a single pool. An EIN is a unique nine-digit number assigned by the IRS to identify your business for tax purposes. Most of the cards that are available are only for specific types of purchases, and many can only be used at a single retail location, such as a gas station or supply store. Disclaimer: Merchant Maverick aims to provide accurate and up-to-date information to assist you in your research. How To Find The Cheapest Travel Insurance, Ink Business Preferred Credit Card Review, Generous rewards on certain spending categories, 50,000 signup bonus points after spending $9,000+ in the first 30 days, Brex offers a corporate credit card designed to help companies boost their spending power and grow faster, Get 10-20x higher limits than traditional business credit cards while earning rewards and cash back on everything you spend, like 7x on rideshare and 2x on recurring software, Build business credit from day one with a card thats automatically paid monthly, No credit check, no personal guarantee, no account fees, and no interest, Save time and money with automatic receipt-matching and built-in expense management tools to help you gain detailed insights on your spend, Issue unlimited virtual cards to your team, and set custom limits on each card, Close the books in record time with QuickBooks, Xero, NetSuite, Concur, and Expensify integrations, To get approved for a Brex card with monthly payments, businesses need a linked bank balance of at least $50,000, Brex Mastercard issued by Emigrant Bank, Member FDIC. Ramp offers a free corporate card for virtually any business. No PG Business Line Of Credit with A To B Fuel Card, Divvy, Paypal Working Capital and other business credit using your business revenue. Unlike most business credit cards, this corporate card doesn't require a personal guarantee. NEW BUSINESS CARD NEW CARDMEMBER OFFER Earn $1,000 bonus cash back after you spend $10,000 on purchases in your first 3 months from account opening. Testimonials may not represent experiences of all clients. Credit will appear within two billing cycles and will apply to whichever program is applied for first. With automatically-credited rewards and dynamic credit limits that will grow with your business, the Stripe Corporate Card packs in the partner offers and integrates with finance tracking softwares like Quickbooks, Expensify and Xero. So its no surprise that credit card issuers are leery of extending credit to small businesses with no proven track record. If there is no guarantee that the credit account will be paid off in full, the issuer could suffer a loss. Can you get a business credit card without a personal guarantee? At first, they ask for some simple personal and business details like contact information and your Employer Identification Number. Their rewards program also offers up to 7x bonus points for restaurant purchases and 5x on hotels, and 1.5x on everything else. This is just one scoring method and a credit card issuer may use another method when considering your application. Youll get a flexible line of credit, with your future sales being your collateral. How can I open a business credit card without personal credit? Getting approved for a no PG credit card will also protect the personal assets of a small business owner personal if they incur business debt. there are some foreign transaction fees in the form of 0.90% cross-border fees, and 0.20% currency conversion fees. You can create separate physical and virtual cards for all of your employees, as well, as control spending and access to them individually. It is issued by the Silicon Valley Bank and specially designed for startup companies in IT and tech industries. Instantly provision cards and manage your company's spending in real-time. Divvy is all about flexibility. Startups face particular challenges in getting a business credit card without a personal guarantee, as they dont have a significant history that demonstrates their financial stability or spending patterns. 0% on purchases for the first 12 months. Personal credit scores required to qualify for business credit cards vary depending on both credit card product and issuer. Many business credit cards on the market require some personal guarantee. There is no minimum or maximum number of vehicles, but qualifying businesses need to be structured as partnerships, corporations, or LLCs. You can use them as gifts, miles, a statement credit, or gift cards. There are no other annual or monthly fees either, and extra employee cards are freely provided. Bento debit accounts can be extended to an unlimited number of employees, but there is a $20 card expedite fee if you need rush delivery. There are no welcome bonuses or traditional 0% introductory APR periods with this card, but the issuers software identifies duplicate expenses and makes tracking and analysis of expenses quite hi-tech. Some banks issue secured business credit cards for this purpose. Coast is available for US-based businesses that operate fleets of vehicles. Commissions do not affect our editors' opinions or evaluations. How Do You Apply for a Credit Card with No Personal Guarantee? $750 bonus cash back after spending $7,500 in the first 3 months after your account start date. As an added credit building bonus, your Sams Business Club MasterCard payment history will get reported to Experian and Dun & Bradstreet. If your business is at that size, you likely can qualify for a corporate card, such as Ramp or Brex, that offers rewards. Generally speaking, business credit cards that dont require a personal guarantee come in three forms: Now, these three credit card types target different markets corporate cards target sizable corporations (and, in the case of Brex, tech startups vouched for by an existing Brex customer or partner), startup credit cards target startups more generally, and fleet cards target trucking businesses. Any business owner can apply for an . Costco Commercial Revolving and Net 30 - Capital One. Brex Card: Best Cash Back Card With No Personal Guarantee, 4. Again, qualifying for a small business credit card might be easier than you think. You can apply for some business credit cards using an EIN, although in most casesbut not allyou have to provide a personal SSN as well. 0% on purchases for the first 12 months. While startups can get approved for a Ramp credit card, eligibility requires a minimum business bank account balance of $75,000. You can earn rewards to an even greater extent if you make an account with the Office Depot rewards membership. Stripe makes eligibility decisions based on your payment volume, your history on Stripe, and your bank account history. For new businesses in tech or life sciences industries, you earn special lucrative rewards. Conduct informed research before deciding which cards will best help you achieve your financial goals. If your business spending is varied and a flat-rate rewards card fits your needs, youll have several good options to choose from, but if youre looking for great travel rewards & perks, your search may be more challenging, and you may have to moderate your expectations a bit. Other Benefits and Drawbacks: The Sams Club Business Mastercard* has zero foreign transaction fees and doubles as a Sams Club membership card, but doesnt offer many benefits beyond this. If this is in doubt, be sure you block it. Its a limited selection, but for those who insist on keeping things separate, there are a few options. If you have equity investors from an accelerator program or an angel/VC investor, this will help you immensely. The easiest business credit card to get will depend on your credit history, business revenue, and other factors. As you make more and more purchases on your Ramp Visa card, youll get access to their algorithmic savings insights. It grants 3x reward points for all software purchases. Business credit cards with no personal guarantee often don't report to personal credit, and since you're not personally liable for the debt they won't report to personal credit even if you default on your payments. Requirements: Credit score 600+, $250,000 per year revenue, 6 months in business. The Stripe Corporate Card is also invite-only. The Bremer Bank Visa Signature Business Company Card is basically the only true business credit card that's available with no personal guarantee and isn't classified as a "corporate card.". Copyright 2022 Fast Capital 360. And if you dont qualify for the exclusive program, youll just earn an unlimited 1 point per dollar spent. Thus it is a good no PG credit card for companies that own fleets. In certain circumstances, it may be possible to obtain business credit using only your EIN without providing your SSN. Brex Treasury is not a bank; Brex Cash is not a bank account. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. Coronavirus (COVID-19) Guides & Resources, Cant Make Your Credit Card Payments Due To The Coronavirus? We specialize in aged (Primary Business Credit) with EXPERIAN/EQUIFAX/SBFE & PAYMENT LEASING CREDIT. The Office Depot OfficeMax Business Credit Card is a no-annual-fee card with no personal guarantee requirements. Credit cards without a personal guarantee are frequently found in a category known as corporate credit cards. If your balance is too low, the transaction simply will be denied. The Sams Club Business Mastercard* charges no annual fee (apart from the fees required for Sams Club Membership) and earns solid rewards for companies with moderate gas purchases and who plan to eat out or order in often. Shell business gas cards come with a monthly balance that bears interest, yet, there are no other monthly, annual, or setup fees. How Easy Is It To Get A Business Credit Card With No Personal Guarantee? Advertiser Disclosure: Our unbiased reviews and content are supported in part by, Jason Vissers has been researching, analyzing, and writing about small business software and finance since 2015. The Shell Small Business Card can be used at over 14,000 gas stations around the U.S. For each gallon fuelled at Shell stations, you can earn up to six cents. However, this card can be used only for vehicle-related expenses and only at two types of vendors: Shell gas stations and Jiffy Lube. Help us to improve by providing some feedback on your experience today. Some discounts arse given by using the same card at Jiffy Lube stations. A corporate card will have no annual fee. Thats why its important for startups to demonstrate that they have the funding necessary to survive and grow. There are good reasons to keep personal finances and risk separate from your business finances and risk. Which credit card or cards will work for your business will depend on your business needs. You wont be able to withdraw that money while your card is active, but over time, youll repair your credit and be able to apply for different types of business credit cards. Other ways you can reduce personal liability with a business credit card include reducing authorized users and employee cards. Ramp Corporate Card: Best Corporate Card With No Personal Guarantee Pros No personal guarantee Simple and solid cash back rate No fees Algorithm-driven insights that can help save money Cons Available only to US-based companies High cash requirements No mobile app Some specific partner companies like Snap and Kasa. Rewards: Earn 1.5% cash back on every purchase. 2 business credit card with no PG options: Credit card paid daily: for companies of any size, no minimum balance (available with every, Credit card paid monthly: for eligible companies that meet certain size and revenue criteria, Up to 7-8 times rewards points, depending on card selected, Both cards report your payments to credit bureaus to help build your business credit, 5% cash back on eligible gas purchases on the first $6,000 spent, 3% cash back on dining and travel and 1% cash back on other purchases, Authorized users can be added to your account for free, Card is exclusive to Sams Club members and doubles as your membership card when you shop at Sams Club, Variable annual percentage rate of either 15.90% or 23.90%, Save $50 on your first purchase of $150 or more, Free additional cards for other people at your business, Balance doesnt have to be paid in full at the end of the month, Discounts on certain preventative maintenance services at participating Jiffy Lube locations. These include $5,000 in AWS credits, 25% off Slack for 12 months, $150 in Google Ads credit, 50% off Expensify for six months and many, many more. Otherwise, the moderate welcome bonus and revolving credit terms are the only major advantages this card offers. In other words, most small businesses don't qualify. What Is Online Check Writer & Is It Worth It? 2023 Forbes Media LLC. Start earning rewards with your corporate spending today. Yes, you can open a business credit card without using your personal credit, but only if the card issuer does not require a personal guarantee. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. While many issuers wont offer business credit cards without the financial security that a personal guarantee provides, you can find a few options that dont require a personal guarantee. Some companies will qualify for monthly repayments, but your rewards rate will be slightly lower. So, whatever money you deposit onto a Bento Visa debit card, you can spend it immediately, and When you use your Bento debit card, you will also not be charged any interest, as you will only be spending your own money when doing so. Here are some options we researched and decided to leave off this list: If youre already a Sams Club warehouse store member or dont mind shelling out $45 to become one, you might be offered a Sams Club Business Mastercard. The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation. There are nearly 600 Sams Club locations throughout the United States and Puerto Rico. Although some users can access this business credit card without a personal guarantee, its difficult to waive the PG. Youll also gain access to $350,000 in exclusive Ramp partner rewards, bill payment, and a savings insight tool that aims to help companies find ways to cut costs and limit unnecessary spending. Consumers join Sams Club so they can save on items they need regularly, but Sams Club also provides supplies to businesses. For most small business owners, getting a company credit card without a personal guarantee probably wont be a walk in the park. However, if you want to avoid the PG with this card, youll need at least three years of business history and a minimum of $5 million in annual sales. The Brex corporate card for startups has stringent eligibility requirements, meaning that not every would-be Brex user will be able to qualify. Some business credit cards dont require a personal guarantee. The Small Business Association says that about one-third of businesses with employees will fail within their first two years. The Ramp Business Card is only for corporations and LLCs registered in the U.S. with at least $75,000 in an U.S. bank account. Its ability to apply without a personal guarantee means your business can restock on critical supplies using a credit account without requiring a business owners personal assets be risked. Yes, you can get a business credit card with bad personal credit. That can even mean suing the cardholder personally to get a judgment. If you cant find a business credit card that doesnt require a PG and which sports eligibility requirements you can meet, you might look for a secured credit cardinstead. The Brex corporate card offers the highest rewards rates of all the cards on this list, but only if you make this card your only business credit card and pay off your balance daily. Pay weekly, and you can earn up to 7x points on restaurants, for example, with that rate dropping to 4x if you pay twice a month and 2x if you pay monthly. While many gas credit cards are specific to certain brands of gas stations, the Coast fleet card can be used at fuel stations nationwide and does not require a personal guarantee. Companies using Ramp are also required to have at least $75,000 in the bank. Youll also be asked to share information about your funding sources, any incubator or accelerator programs youre involved with, and service providers you work with, such as law or accounting firms. A business credit card can help keep business purchases separate and keep a business bookkeeping compartmentalized. It gives 1 - 7 points per $1 spent on purchases overall and provides a lucrative initial bonus. You might also consider one of our top business credit cards for borrowers with bad credit if your credit score is a limiting factor in your search for a business credit card. The Ramp Corporate Card sets itself apart by offering a straight 1.5% cash back on all purchases. With this in mind, once your business is large enough, with a certain number of employees or a high enough revenue stream, you may be able to sign up for a corporate credit card. Ramp makes corporate spend tracking easy. Merchant Mavericks ratings are not influenced by affiliate partnerships. Citi Cards - Shell Gas Revovling and Net 30. Each lender will evaluate your specific circumstances to decide if it will want to take on the risk of lending to you. Make Brex your exclusive corporate card, and youll earn up to 8x points per dollar spent, with a minimum of 1x earning on every purchase. Realtime reporting and integrations. As a cardholder, youll also get full to Divvys expense management software and budgeting tools. Points add up faster when all your employees purchases roll up into a single rewards account. 1. Fast turnaround: as little as 1-2 days. Please refer to our Advertising Disclosure to learn more about how we earn compensation from affiliate partnerships and how we maintain our independent editorial integrity. You can build business credit many different ways without using your personal credit score. If your business fails and you cant pay off your balance, Many credit cards that lack a PG are corporate credit cards, which typically give you features like spend management and business software integrations, Some of these cards dont even check your personal credit when you apply, instead relying on other metrics, Many business credit cards with no PG require your business to be a corporation or LLC non-incorporated businesses will have a smaller set of options, Some business credit cards with no PG have high cash-on-hand requirements and are difficult for startups to obtain, Since most business credit cards require a PG, it may be hard to find a credit card that doesnt require a PG, Some business credit cards without a PG will initially require you to make daily repayments, You want a corporate credit card with a flat cash back rate, You like the idea of having a feature that identifies unnecessary business spending, You use products from Ramps partner companies, like Xero and Amazon Web Services, You want a corporate card but your business is not a corporation, You want a corporate card that lets you choose your repayment schedule, You spend a lot at restaurants and want a card that rewards this, You want budget management and employee spending limits with your corporate card, Received an equity investment of any amount (accelerator, angel, VC, or web3 token) or plan to in the near future, Earn more than $1 million/year in revenue, Be a tech startup that is on a path to meeting the criteria above, and is referred by an existing customer or partner, You want the highest available rewards rates for a corporate card and are willing to make Brex your exclusive business credit card, You want a card with multiple rewards redemption options, You want a corporate card with spend management, bill pay, and a mobile app, You must have 6+ months of business history, You must have a business bank account and maintain a positive account balance (an average daily balance of $1K+ is preferred), You must maintain a monthly revenue of $10K+, Your business spending is varied, and you want a spending card that handsomely rewards all your business purchases, Your business suffers from uneven cash flow, and you want a spending card that helps to even out your cash flow, You want a spending card with no personal guarantee and a nice welcome offer most of these other cards dont have a welcome offer, You use Stripe for payment processing (or if you want to), You own a new business and you want a no personal guarantee credit card with relaxed qualifications, You want a corporate card with a flat cash back rate and automatic reward redemption, You want to take advantage of Stripes partner rewards & discounts with services like Gusto and Guideline, You run a trucking business and you want a fleet fuel card with no personal guarantee, You run a non-trucking business with significant driving needs and you want a card that helps your business save on the cost of fuel, You want a fleet fuel card that doesnt limit you to certain gas station chains, You want a startup-friendly credit card with no PG and relaxed eligibility requirements, You want an unlimited number of employee cards for no extra charge, You want a business credit card with flat-rate rewards earning along with multiple redemption options, Specialized startup credit cards (like the SVB Innovators card). Quick approvals for the Divvy Corporate Card are mainly based on business revenues rather than personal credit scores.