Corporate Credit Cards Without Personal Guarantee
Nearly all of the business credit cards with no personal guarantees that we could track down had strict business parameters. 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.
Underwriting is based on your business bank.
Corporate credit cards without personal guarantee. Sams Club Business Credit Card. Its main purpose is to provide businesses with a funding solution of. Nonetheless there may be an option out there that makes sense for your business.
This means you can help your cause by incorporating or becoming a limited liability company LLC. If youre trying to avoid the personal credit check that most business credit cards require you could consider a prepaid card. The Brex Corporate Card for Startups is a corporate credit card that foregoes personal guarantees.
Common requirements for a corporate credit card with no personal guarantee While the requirements will vary by the specific issuer and credit card companies will typically need between 1-4 million in annual revenue for approval without a personal guarantee. This is a separate entity from the owner s. The Bremer Bank Visa Signature Business Company Card is basically the only true business credit card thats available with no personal guarantee and isnt classified as a corporate card It still targets medium to large businesses however and it has high income and revenue requirements.
As previously stated most business credit cards that dont require a personal guarantee are issued by stores instead of banks. If youve been a long-time customer with your bank or credit card provider you may be able to negotiate a small business card without a personal guarantee however many banks may be unwilling to do this. 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.
Is a financial service and tech company based in San Francisco. The Brex Corporate Card for Startups is designed for tech startups that need access to. It also has high income requirements and still prefers to work with medium to large businesses.
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. The Bremer Bank Visa Signature Business Company Card is an actual business credit card no personal guarantee necessary. The first option is to lean on your long-term relationship with the bank if you have one.
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. It offers business credit cards without personal guarantee that is free of annual fees and personal guarantees. Step 1 Set apart yourself from your company.
Here are the top business credits cards with no personal guarantee. Shell Small Business Card. Entrepreneurs dont have many options for credit cards without a personal guarantee.
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. 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. Credit cards without a personal guarantee are frequently marketed as corporate credit cards.
The Shell Small Business Card offers rebates. If you are able to get one you will enjoy no annual fee and a rewards program. Getting a business credit card without personal guarantee is not easy but its possible.
Get Business Credit Cards with no Personal Guarantee. Even in the rare case where a card doesnt have one there. Best no personal guarantee business credit cards Brex Corporate Card for Startups.
Your chances could be improved if you have an excellent payment history great business financials and low debt.
