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. Alternatively, you might be looking to apply for a business credit card using EIN only because your are working with poor personal credit. While Divvy corporate charge cards do not have an annual fee. Your personal credit won't be held liable. Let us know how well the content on this page solved your problem today. Get industry-leading advice to help you make confident decisions. He remains most at home on a tractor, but has learned that opportunity is where he finds it and discomfort is more interesting than complacency. Divvy also offers discounts and credits on purchases with partners such as Amazon Web Services, Google Ads, FedEx Office, and Costco. They do, however, provide additional bonuses, discounts, and special offers, from over 20 partners. Here are some points to consider: A business credit card without a personal guarantee requirement sounds appealing, but youll be more likely to find a wider variety of options if you do provide a personal guarantee. Rather, it is a prepaid spending card tied to your future business revenue. Brex Treasury is not a bank; Brex Cash is not a bank account. Theres no one best card for every business, and the same holds true with the cards not requiring a personal guarantee. The easiest business credit card to get will depend on your credit history, business revenue, and other factors. Your credit limit is determined by your payment processing history on the platform as well as your bank history, and it will only grow as your business grows and you generate more payment volume. Merchant Mavericks ratings are not influenced by affiliate partnerships. 2023 Forbes Media LLC. So its no surprise that credit card issuers are leery of extending credit to small businesses with no proven track record. Instantly provision cards and manage your company's spending in real-time. The main benefit of getting a business credit card that doesnt require a personal guarantee is that in the event that you cant pay off your card, your personal assets cannot be seized to pay the debt. If you believe your business meets the requirements for the card you want, simply fill out the application and submit it. 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. However, people with lower scores might qualify for a secured business credit card or another card designed for borrowers with poor credit. A poor personal credit score on top of that can hurt a startup owner's chances of being approved for funding. Other ways you can reduce personal liability with a business credit card include reducing authorized users and employee cards. Instead of charging you interest on charges made to your business line of credit, Revenued relies on factoring essentially, you are borrowing against future revenue via invoices. You need to put down a security deposit (minimum of $1,000 . Best Business Credit Cards (for Startups) LYFE. For your monthly expenses, you get 2% back. Whatever the amount is that you deposit is your credit limit. This means no credit check requirement for those business owners without solid or established credit. Though minimizing risk is always a worthwhile consideration, the disadvantages of the cards without personal guarantee requirements may mean taking the risk is worthwhile. 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. Brex is available only for C-corps, S-corps, LLCs, or LLPs organized and registered in the US. First, you can apply for a business credit card that does not require a personal credit check or guarantee. An EIN is a unique nine-digit number assigned by the IRS to identify your business for tax purposes. You can build business credit many different ways without using your personal credit score. A card like these reduces your personal risk in financing purchases or transacting with the card but wont necessarily eliminate it. If there is no guarantee that the credit account will be paid off in full, the issuer could suffer a loss. 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. Help us to improve by providing some feedback on your experience today. You can also apply for a business credit card for a particular store, such as Office Depot/Office Max, or a gas station, such as the Shell card. To learn more about our rating and review methodology and editorial process, check out our guide on How Forbes Advisor Rates Credit Cards. However, this card can be used only for vehicle-related expenses and only at two types of vendors: Shell gas stations and Jiffy Lube. When using your Stripe corporate credit card, you will earn 1.5% money back on expenses no matter the category, and the rewards are immediately credited to your monthly due balance. What are Business Credit Cards With No Personal Guarantees? 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. There is no paperwork required to apply for this no-PG business credit card. Partnerships and sole proprietorships must provide a personal guarantee to apply for the card. Additionally, Divvy lets you manage your companys spending by setting budgets by team, project, event, or any other category. Here are some of the best business credit cards with no personal guarantee required: The Stripe Corporate Visa Card is available to businesses that already have a Stripe account, which allows companies to accept payments online. Coronavirus (COVID-19) Guides & Resources, Cant Make Your Credit Card Payments Due To The Coronavirus? The Stripe Corporate Card is also invite-only. Youll need to be an SVB banking client to be considered for the business card and can apply online to open your account. Ramp aims its corporate card at corporations registered in the US. A KleerCard is best suited for growing businesses aside from being a credit card you can use to make purchases anywhere, it's a great expense management tool. 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. Credit will appear within two billing cycles and will apply to whichever program is applied for first. Sole proprietorships are not eligible. In certain circumstances, it may be possible to obtain business credit using only your EIN without providing your SSN. 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. Many business credit cards that dont require a PG will have stringent qualification criteria. Start earning rewards with your corporate spending today. Your revenue from your established business works for you. Redeem points for travel, gift cards, a statement credit, or cash back at a rate of 1 cent per point for travel and about a half-cent per point on everything else. Otherwise, the moderate welcome bonus and revolving credit terms are the only major advantages this card offers. Other Benefits and Drawbacks: There is no balance revolution with the Ramp Business Card, meaning a balance must be paid off each month. Thats why its important for startups to demonstrate that they have the funding necessary to survive and grow. SVB also offers a business checking account. Generally speaking, a brand new business without any major assets or revenue to show will more than likely be considered high risk and will not qualify for most cards without a personal guarantee from an owner. If youre looking for a business credit card with no personal guarantee and regularly have business expenses with those two businesses, this card definitely is worth looking into. 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. But startups with good or excellent business credit may be able to apply for loans . 50,000 bonus points after spending $9,000+ in the first 30 days. Second, you can apply for a secured business credit card, which requires you to make a deposit that will equal your credit limit. It grants 3x reward points for all software purchases. We occasionally send out emails with special offers. There is also a 24/7 customer service team based in the US. Royal Dutch Shell is an oil and gas company most recognized for its gas stations, which feature its iconic shell logo. also offer 5% money back on purchases. Use your points to pay for travel expenses, redeem them for gift cards, or take them back in cold, hard cash. Ramp savings. An EIN is a nine-digit tax ID number that sole proprietors, small business owners, corporations and other entities can apply for with and receive from the IRS. Your financial situation is unique and the products and services we review may not be right for your circumstances. 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. Best Business Credit Cards Without a Personal Guarantee Requirement Best for Well-Funded Startups Brex 30 Card Apply Now On Brex's Website Up to 10-20X Reward Rate Get 10-20x higher limits. For credit cards where a personal guarantee is required, an applicant can be held personally liable for debts accrued on the business credit card. Fast turnaround: as little as 1-2 days. You may have heard about Shells small business card, with its fuel rebates and its lack of a PG requirement. 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. Do all business credit cards require a personal guarantee? Please try again later. Most business credit cards require personal guarantees which allow creditors to place liens on personal property and finances, should your business not be able to pay its debts. You can open a business credit card without personal credit in two ways. Can you get a business credit card without a personal guarantee? Otherwise, a different card is likely a better, more rewarding fit. What Is A POS System & Choosing The Best For Your Business, Discover The Best Business Credit Cards In 2023, Best Business Credit Cards For Your Nonprofit Organization, Explore Business Credit & Banking Resources, How Signing a Personal Gurantee Affects You. You can use them as gifts, miles, a statement credit, or gift cards. Quick approvals for the Divvy Corporate Card are mainly based on business revenues rather than personal credit scores. there are some foreign transaction fees in the form of 0.90% cross-border fees, and 0.20% currency conversion fees. Past performance is not indicative of future results. All Rights Reserved. The best way to apply for a Sams MasterCard is in-store, so you can have the sales rep contact to personally call their credit department to discuss why you dont want to give a personal guarantee or to ensure your personal credit is not checked. 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. Ramp offers a free corporate card and finance management system for small businesses. If you want to apply for the account without a personal guarantee, though, there are some stipulations. Points can be redeemed as a statement credit or for gift cards, travel, or merchandise. Youll earn unlimited rewards points at a rate of 2x on all purchases made using your SVB Innovators Card. Each lender will evaluate your specific circumstances to decide if it will want to take on the risk of lending to you. Once you have your Sams card, you earn up to 5% back in Sams Cash when making in-store purchases. Would you like to get approval in as little as 48 72 hours, and your funds released within days? Let's look at the seven best no personal guarantee credit cards for business. Well be exploring these no personal guarantee credit cards in a moment. However, no matter which of these no personal guarantee credit cards youre trying to get, the card issuer needs some form of assurance that youll be able to pay for the purchases you make with said card. When business credit card issuers approve small business owners based on their EIN only, there is an extra layer of financial protection added to ensure creditors cannot go after your personal assets. Revenued: Best Flat Rewards Rate Card With No Personal Guarantee, 5. Coast can be a good credit card for businesses operating fleets of vehicles in need of a business credit card with no personal guarantee. You can create separate physical and virtual cards for all of your employees, as well, as control spending and access to them individually. Yet, after $500 spent over a 12 months period you enter the VIP status which will bring you an extra earn back amounting to 5% for print services, paper, toner, and ink, plus some other rewards and free delivery within two days. There are no annual fees, interest rates, or foreign transaction fees associated with the Ramp Card. Yes, you can get a business credit card with bad personal credit. 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. APR 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. Points add up faster when all your employees purchases roll up into a single rewards account. If you pay monthly, your rewards rate will be 1x lower for each category (7x on rideshares, 4x on travel, etc.). The Office Depot Business Credit Account does not offer rewards on purchases. These cards typically free you from personal guarantees and include perks such as improved expense reporting and easier access to flexible credit lines. You can find a few business credit cards that do not require a personal credit card, or you can apply for a corporate card if you can meet eligibility requirements. 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. Which Business Bank Account is Right For You? The Forbes Advisor editorial team is independent and objective. Are you sure you want to rest your choices? Corporate cards, expense management, bill payments, accounting integrations, and real-time reporting in one free and easy to use solution, Controls at scale. The Divvy no PG business card has no annual fee. It does, however, charge a fee for late payments of 2.99%. Chauncey grew up on a farm in rural northern California. No PG business credit lines backed by Citi, Home Depot, Staples, TSC, Office Depot, Sunoco, Exxon/Mobil, require a min of 3 years business credit history before they'll consider an application without a PG. With a Ramp charge card, you can earn 1.5% cash back on all business purchases without having to target rewards categories. 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. 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. 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. They also numerous SaaS-related rebates that total a whopping $350,000 in savings. $0. First off, many credit cards that dont require a personal guarantee are, in fact, corporate cards. The only way it can affect your personal credit is if a card issuer does a hard pull when you apply for the card. But remember, you're personally responsible for the charges on a business credit . 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. The SVB Innovators MasterCard is a flexible line of credit that scales alongside company growth. You can also set employee spending limits and view and edit budgets in real-time & share them via the web or Divvys mobile app. The card offers partner benefits from over three dozen partners. There is also a 50% cash back offer if you purchase 1Password. These types of cards are often called a Corporate Credit Card. Some discounts arse given by using the same card at Jiffy Lube stations. Again, qualifying for a small business credit card might be easier than you think. Various lending products ranging from $5,000 to $5,000,000 are available for most businesses, including those with limited history or bad credit, without requiring a personal guarantee. This is one of the major selling points of the card and currently unique to the Ramp Card. $0. While they require you to sign up for a demo to apply, the Divvy application process is quite simple. That includes having no PG, an unlimited number of employee cards, and a credit line that scales with your companys growth. There are no other annual or monthly fees either, and extra employee cards are freely provided. 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. These are provided as guidelines only and approval is not guaranteed. It gives 1 - 7 points per $1 spent on purchases overall and provides a lucrative initial bonus. Brex Card: Best Cash Back Card With No Personal Guarantee, 4. For new businesses in tech or life sciences industries, you earn special lucrative rewards. This compensation comes from two main sources. It also means that you will not have to pay for the additional cards your workers need. 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. For example, you can get a 25% discount on the annual subscription to Slack, three months free at Gusto and Guideline, and a $150 bonus for Google Ads. It only works at Office Depot and OfficeMax locations. Opinions expressed here are authors alone. Rewards: Earn 1.5% cash back on every purchase. You will be personally liable for business credit card balances if you sign a legally binding personal guarantee when you apply for the card. 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. For one, the options are severely limited. This can save users the step of using a separate rewards card or punching in a phone number at checkout every time. At first, be sure you enter your EIN only so that credit card approval will be based on the strength of your business purchasing power. How Do You Apply for a Credit Card with No Personal Guarantee? 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. Of course, in such a scenario, your business assets can, in fact, be seized. If your business spending doesnt follow a predictable pattern and/or you dont want to have to keep track of bonus categories for spending rewards, Ramp may be the corporate card for you. Terms apply, visit, Exclusive offers, plus sneak previews and special savings, Included software identifies redundancies in spending, Sole proprietors are not eligible to apply, As a charge card, you cant carry a balance, 5-in-1 platform. 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. Ramp is offering unlimited virtual with support for Apple and Google Pay, as well as custom-branded physical employee cards at no additional cost. It can be used anywhere Mastercard is accepted. Since these cards require you to post a security deposit, they are relatively easy to obtain. Divvy is all about flexibility. When your employees use their Bento cards, it also makes it much easier to monitor and file their transactions. As such, there are no interest charges. Bank of America's Business Advantage Unlimited Cash Rewards Secured credit card earns unlimited 1.5% cash back on all purchases. $1M MAX: Brex v Ramp v Stripe v Amex. The SVB Innovators Card is designed to support growth for startups. Looking for a business card without a personal guarantee? Lets look at the seven best no personal guarantee credit cards for business. You will be held personally liable for your business credit card balance if the business closes or defaults. 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. Is looking for a business credit card with no PG worth it? Another charge card with no personal guarantee requirement on its application is the Ramp Business Card, which charges no annual fee, earns 1.5% cash back on every purchase and, though it has no travel or lifestyle perks like other business cards, it offers tools for precise control over spending and employee cards. In addition to tracking spending, Ramp claims the dashboard can identify redundant business subscriptions, better SaaS pricing options and other savings tailored to the company, leading to up to 2 percent in savings. You also use your EIN when you open a business bank account or establish a vendor line of . As you use your business credit card responsibly, your credit profile will grow, and you may be able to apply for a different kind of business credit card. You should double-check with the service provider/financial institution directly as well as obtain independent financial advice prior to making any financial commitments or business decisions. His financial expertise has been cited in numerous publications, including The Ladders. Bentos business debit cards can be used to make purchases in stores or online. Business Debit Card: 0%: 0.00%: No PG: . Personal credit scores required to qualify for business credit cards vary depending on both credit card product and issuer. Business credit cards without a personal guarantee can be hard to obtain. Although some users can access this business credit card without a personal guarantee, its difficult to waive the PG. However, a few credit cards, such as those listed in this article, and many corporate cards do not require a personal guarantee. Thus it is a good no PG credit card for companies that own fleets. Its a limited selection, but for those who insist on keeping things separate, there are a few options. 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. Coast is available for US-based businesses that operate fleets of vehicles. Credit cards without a personal guarantee are frequently found in a category known as corporate credit cards. Merchant Mavericks ratings are editorial in nature, and are not aggregated from user reviews. 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. Why Are Business Credit Cards with No Personal Guarantee Scarce? If youre interested in applying for the Stripe Corporate card, youll need to request an invitation and then reply to the email youll receive. Earn 2 points per dollar spent towards statement credits, gift cards, travel rewards and merchandise, with no cap. And if you dont qualify for the exclusive program, youll just earn an unlimited 1 point per dollar spent. This business credit card lets you make purchases at Office Depot and OfficeMax stores, both in-person and online. Unlike most business credit cards, this corporate card doesn't require a personal guarantee. While the names might not be glamorous, using business credit cards with no personal guarantees will ensure that only your business is liable for money your borrowing and cant pay back. It provides credit cards and money management accounts to technology companies and startups. Shell Small Business Card is one of the best options for road warriors and fleet managers alike. Editorial Note: We earn a commission from partner links on Forbes Advisor. Id also recommend looking at our merchant cash advance calculator to understand what different factor rates mean in terms of your borrowing costs. The Brex card features a rewards scheme with 8x points for ridesharing apps and taxis, 5x on travel, 4x at restaurants, 3x on recurring software, 3x on Apple products, and 1x on everything else. - 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.

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