- 15 Days Contact Us 15 Days Business Credit Funding Services We're a company with over 15 years in the industry, we are ready to provide you with 100% Reliable Business Loan Consulting. The best business credit cards, however, are those where the credit card issuer does not require personal liability to get approved. These details are not available on the Divvy website, but have been confirmed by MerchantMaverick. How To Get Business Credit Cards With An EIN Only. The rating of this company or service is based on the authors expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. The advantage of using this Bento Visa debit card is that you can make unlimited transactions anywhere Visa is accepted without having to pay any business banking fees, like debit or overdraft. As you make more and more purchases on your Ramp Visa card, youll get access to their algorithmic savings insights. 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. Requiring only a Stripe account to apply, The Stripe Corporate Card* is available by invite only, but charges no annual fees, no foreign transaction fees and no late fees. 9 Best No PG Business Credit Cards Worth Applying For - Planning Guide 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. At first, they ask for some simple personal and business details like contact information and your Employer Identification Number. Welcome Offer: see terms for welcome offer details. Are you personally liable for business credit cards? For example, the Brex card we list below may require that you earn at least $1 million per year or have at least $500,000 in the bank. Thats because your credit limit will be equal to the amount you deposit with the credit card issuer, and the issuer will have that collateral if you dont repay your debt. When youre searching for a no-personal-guarantee business credit card, the Brex Corporate Card, powered by the Mastercard network, is another one to consider. So its no surprise that credit card issuers are leery of extending credit to small businesses with no proven track record. 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. How To Build Business Credit Fast in 2023 | EIN Only & No PG shorts Realtime reporting and integrations. Chauncey grew up on a farm in rural northern California. With discounts on useful services and integrations with financial software platforms like QuickBooks & Xero, Stripe can help your business grow in the right direction. Which card meets the needs of and best suits your business is up to you and how you run your business. Best no-personal-guarantee business credit cards Here are the best no-personal-guarantee business credit cards that are currently available: SVB Innovators Card: Best for. The Stripe Corporate Card is still invite-only in the US. Rewards: Earn see terms for rewards details. Business credit cards without personal guarantee requirements can help reduce risk to your personal finances in the event of default, but it wont guarantee an issuer wont be allowed to come after you if it wants to collect. Most business credit cards require an individual often the business owner to serve as a guarantor that the balance on the card will be paid. 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. So, the benefits of using this no PG credit card increase as your activity expands. Otherwise, theyll be less-inclined to offer your business a card with strong rewards, excellent benefits and other perks. If your business is at that size, you likely can qualify for a corporate card, such as Ramp or Brex, that offers rewards. Applying for a Business Credit Card Using an EIN - Lendio 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. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. Something went wrong. Brex is available only for C-corps, S-corps, LLCs, or LLPs organized and registered in the US. Use the Stripe Corporate card, and youll earn a flat 1.5% cash back on every business purchase. Other Benefits and Drawbacks: The one listed extra perk of the Office Depot Business Credit Account* is the ability to link an Office Depot/OfficeMax Rewards account with the card to ensure every purchase the card is used for automatically earns rewards. Save $50 on the first $150 purchase made within 60 days of account open date, Best for Businesses Resupplying With Sams Club, Best for Those Constantly Wondering Why the Printer Has No Paper. There is no revenue requirement nor a personal credit check, as the Bento debit card is very similar to a secured credit card. Free employee cards. While startups can get approved for a Ramp credit card, eligibility requires a minimum business bank account balance of $75,000. In addition to the other rewards above, the Plus version of this card also earns 3% cash back on Sams Club purchases, so businesses will likely be better off with the Plus version if the fees for Plus membership make financial sense. 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. Unless your business has at least $5 million in annual revenue, a minimum of two years of operating history, and more than ten employees, you will not be eligible for this card unless youre willing to sign a PG. Other Benefits and Drawbacks: The Brex 30 Card is a charge card, meaning it must be paid off every month in full. The card can be used anywhere where they accept MasterCard and you dont have to pay any additional annual or monthly fees. The Brex Corporate Card is a charge-type card where your balance is fully due. The SVB Innovators Card is another no personal guarantee credit card, that like Brex, works like a charge card where balances must be paid in full each month. 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 Blue Business Plus Credit Card from American Express is good for businesses that don't want to deal with bonus categories, as cardholders earn 2% cash back on every purchase, regardless of category, on up to $50,000 in purchases each year, after which purchases earn 1% on all eligible purchases. This means that if you must have a business credit card with no PG, your options will be limited, making it all the more important that you find the card that makes sense for your business needs. Business credit cards that dont require a personal guarantee are difficult to qualify for. There is also a 24/7 customer service team based in the US. You can request an invitation online, but there is no guarantee that youll be accepted for the card. 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. Some business credit cards dont require a personal guarantee. 50,000 bonus points after spending $9,000+ in the first 30 days. Otherwise, the moderate welcome bonus and revolving credit terms are the only major advantages this card offers. However, a few credit cards, such as those listed in this article, and many corporate cards do not require a personal guarantee. U.S. Bank Business Leverage Visa Signature Card Earn $750 in rewards Welcome offer Earn $750 in rewards when you spend $7,500 in eligible purchases on the account owner's card within the first 120 days of opening your account. That can even mean suing the cardholder personally to get a judgment. When your employees use their Bento cards, it also makes it much easier to monitor and file their transactions. While these arent traditional business credit cards, your business may qualify for one without having to sign a personal guarantee. There is also no limit on the number of reward points and they can be used to redeem merchandise, gift cards, credit, or travel offers. The fraud protections offered to personal credit cards by federal law are not extended to business products, so fraud protections are not always guaranteed by credit card companies. Commissions do not affect our editors' opinions or evaluations. For large purchases, use other forms of financing instead, such as a business operating loan. Consumers join Sams Club so they can save on items they need regularly, but Sams Club also provides supplies to businesses. If your business spending is varied and diffuse, youll love Revenueds flat 3% cash back rate on all eligible purchases an exceptional rate for any small business credit card, much less one that doesnt sport any credit score requirements. There are nearly 600 Sams Club locations throughout the United States and Puerto Rico. That's because the card is used to pay for expenses of the business, and the business assets (revenue, assets) pay for the credit card debt. You don't need perfect personal credit (or an established personal credit history to get approved). These are provided as guidelines only and approval is not guaranteed. The only business credit cards worth having that do NOT have a personal guarantee. Some banks issue secured business credit cards for this purpose. Divvy does disclose that international companies may apply so long as at least one owner with a 25% or higher stake is a US citizen. Home Blog Business Credit Cards The 7 Best Business Credit Cards With No Personal Guarantee Required, Save money on credit card processing with one of our top 5 picks for 2022. They provide online and mobile services that can be accessed from everywhere, at any time. Nonetheless, if you qualify for a business credit card without a personal guarantee, you might be able to access a substantial line of credit without putting your personal wealth at risk. The Office Depot OfficeMax Business Credit Account is available without a personal guarantee and it comes with a card, but it doesnt work as a traditional credit card. Business Credit 2023 | Top 5 Business Credit Cards Pull Transunion Only Now let's take a look at how you can earn rewards with a small business. How To Apply For A Business Credit Card With An EIN Personal guarantee requirements mean that when you apply for a business credit card, youll be required to share your personal information, and your personal credit will be hit with a hard inquiry that can affect your credit score. This compensation comes from two main sources. A personal guarantee on a business credit card is a legally binding agreement to repay credit issued to the business with your personal assets if the business cannot pay off the debt. If youre interested in applying for the Stripe Corporate card, youll need to request an invitation and then reply to the email youll receive. The Advantages Of A No PG Business Credit Card, The Disadvantages Of A No PG Business Credit Card. You will be personally liable for business credit card balances if you sign a legally binding personal guarantee when you apply for the card. Why Are Business Credit Cards with No Personal Guarantee Scarce? For new businesses in tech or life sciences industries, you earn special lucrative rewards. If you have equity investors from an accelerator program or an angel/VC investor, this will help you immensely. This means no credit check requirement for those business owners without solid or established credit. You can use them as gifts, miles, a statement credit, or gift cards. While you wont have to offer a PG to Ramp, the company will examine your companys cash balance, cash flow, and other indicators of its financial health.