Which Business Bank Account is Right For You? Bremer Bank Visa Signature Business Company Card. With no annual fees and no foreign transaction fees, those companies using the Brex Card exclusively and paying it off from a Brex Cash account will see the best points per dollar spent in rewards. It also means that you will not have to pay for the additional cards your workers need. What credit score is needed for a business credit card? As such, business credit cards without a personal guarantee are rare. This Sams Club card is another option on our no-personal-guarantee business credit cards list. To receive a statement credit, you must use your Spark Miles card to either complete the Global Entry application and pay the $100 application fee, or complete the TSA Pre application and pay the $85 application fee. Additionally, when restricting your business credit card search to cards with no PG, it may be harder for you to find a card with a spending rewards program that matches your business spending. 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. Commissions do not affect our editors' opinions or evaluations. To ensure you dont accidentally offer a personal guarantee, you have to fill out their business credit card application, and that only you allow them to use your SSN for verification purposes only. All transactions are then instantly debited from the amount you deposit on your card. Corporate cards, expense management, bill payments, accounting integrations, and real-time reporting in one free and easy to use solution, Controls at scale. No PG Business Line Of Credit with A To B Fuel Card, Divvy, Paypal Working Capital and other business credit using your business revenue. It provides credit cards and money management accounts to technology companies and startups. For small business owners, there are other ways to identify yourself and your business when applying for credit cardsmost commonly, businesses have an Employer Identification Number, or EIN. For one, the options are severely limited. When your employees use their Bento cards, it also makes it much easier to monitor and file their transactions. Youll get a flexible line of credit, with your future sales being your collateral. 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. Well detail the best of these cards in this guide. What are Business Credit Cards With No Personal Guarantees? Is looking for a business credit card with no PG worth it? If your company becomes insolvent, the cardholder isnt personally liable for the remaining debt on the credit card. 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. Ramp Corporate Card: Best Corporate Card With No Personal Guarantee, 2. These cards typically free you from personal guarantees and include perks such as improved expense reporting and easier access to flexible credit lines. This form is for feedback only. Otherwise, the moderate welcome bonus and revolving credit terms are the only major advantages this card offers. The SVB Innovators Card is designed to support growth for startups. There are good reasons to keep personal finances and risk separate from your business finances and risk. Check out our list of the best business credit cards. If you want to go the corporate card route, you probably arent eligible if your business is a sole proprietorship or otherwise not registered as an S-corp, C-corp, or LLC. Read more below to learn why we chose these options. Divvy Credit Card: Best No Personal Guarantee Card For Managing Budgets, 3. While startups can get approved for a Ramp credit card, eligibility requires a minimum business bank account balance of $75,000. 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. Youll earn unlimited rewards points at a rate of 2x on all purchases made using your SVB Innovators Card. 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. It takes into account the business growth, as the credit cards limits expand as your financial data progresses, this includes the available cash, credit history, and spending patterns in your business. SVB customers also have access to unique lending options geared specifically toward startups, including venture debt, growth capital, working capital, and mezzanine financing to support acquisitions, earnouts, capital expenditures, and more. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. Since both options for business credit cards without a personal guarantee requirement and for secured business credit cards remain limited, we recommend you build some personal credit before applying for a business credit card, if at all possible. 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. With a few notable exceptions, Stripe Corporate does not offer any higher tiers of earning on specified categories, such as travel or dining. You may have heard about Shells small business card, with its fuel rebates and its lack of a PG requirement. Sole proprietors or other unregistered businesses need not apply. Most business credit card issuers require your SSN when you apply, as this allows them to perform a hard inquiry on your personal credit report and to establish the personal guarantee required by most business credit cards. Alternatively, you might be looking to apply for a business credit card using EIN only because your are working with poor personal credit. All Rights Reserved. Otherwise, theyll be less-inclined to offer your business a card with strong rewards, excellent benefits and other perks. Few of the business credit cards without personal guarantee requirements weve reviewed compare well to the best business credit cards. These are provided as guidelines only and approval is not guaranteed. You will be held personally liable for your business credit card balance if the business closes or defaults. Your Next Best Options. When using a Bento Spent Limit card, you first have to load money onto it. Some business credit cards dont require a personal guarantee. No fees. For all those who dont want to risk personal liability, there are credit cards and accounts without personal guarantee requirements. Start earning rewards with your corporate spending today. 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. A poor personal credit score on top of that can hurt a startup owner's chances of being approved for funding. Stripe makes eligibility decisions based on your payment volume, your history on Stripe, and your bank account history. The Office Depot OfficeMax Business Credit Card is a no-annual-fee card with no personal guarantee requirements. But the relative lack of options without a personal guarantee doesnt mean its impossible. You need to put down a security deposit (minimum of $1,000 . Before applying, carefully consider your options. Are you sure you want to rest your choices? All Rights Reserved. It comes with a very straightforward rewards program that allows you to earn 2x points on all purchases no matter the category. Points can be redeemed as a statement credit or for gift cards, travel, or merchandise. Divvy also offers discounts and credits on purchases with partners such as Amazon Web Services, Google Ads, FedEx Office, and Costco. Other Benefits and Drawbacks: There is no balance revolution with the Ramp Business Card, meaning a balance must be paid off each month. At first, they ask for some simple personal and business details like contact information and your Employer Identification Number. Your rewards balance will be automatically credited to your balance each month. Almost all business credit cards require a personal guarantee. Thus it is a good no PG credit card for companies that own fleets. These types of cards are often called a Corporate Credit Card. These include discounts and credits, such as 25% off an annual Slack subscription, three months free with Gusto and Guideline, and $150 in Google Ads credits. Bad Credit Business Loans: 5 Best Options, How to Communicate a Price Increase to Customers, 13 Small Business Goals to Implement This Year, How to Create a Business Plan to Succeed in 2023, Build a Small Business Emergency Fund in 8 Steps, Best Ways to Use a Business Loan to Boost Growth, Loans & Grants for Hispanic-Owned Businesses, Here are some of the best business credit cards, Office Depot OfficeMax Business Credit Account, Silicon Valley Banks (SVB) Innovators Card, Your Ultimate Guide to Unsecured Business Lines of Credit, 48 Ecommerce Statistics to Know This Year, Calculate Your Payments and Total Cost of Borrowing, Advice and Answers for Small Business Entrepreneurs, No annual, foreign transaction or late fees, No interest because balance is paid in full every month, Unlimited 1.5% cash back on every business purchase, Cash-back balance automatically applied to your monthly Stripe bill, Benefits with some of Stripes partners (e.g., $150 credit for Google Ads, free 6-month Zendesk subscription, 25% off for 12 months of Slack subscription). EINs are used by businesses, from large companies to sole proprietors, to file taxes. One option is to apply for a secured business credit card with a credit limit equal to the amount of money you deposit into a secured account. Additionally, corporate cards often have stringent eligibility requirements, so if, say, your business cant meet the cash-on-hand requirements, youll need to look elsewhere. If this is in doubt, be sure you block it. Your revenue from your established business works for you. Few lenders want to assume all the risk when it comes to your businesstheyll want you to have some stake. 1. Visa benefits. Occasionally, we encounter noteworthy product options, even if they dont merit inclusion in our best-of lists. 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. Streamline your bill payments with AP automation, approvals and accounting. Shell Small Business Card is one of the best options for road warriors and fleet managers alike. 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. Other approval requirements include: The Bento Business Visa Debit Card is available to all business owners, no matter the size or industry. Dell Computer, Lowes, Amazon Net 55, JCP & Menards, might approve applications without PG if you can demostrate a year or so of payment . For credit cards where a personal guarantee is required, an applicant can be held personally liable for debts accrued on the business credit card. If your business is not a corporation or LLC, dont waste your time applying for a corporate card unless you can confirm beforehand that your business is eligible for the card in question. Opinions expressed here are authors alone. Through the Employee Retention Tax Credit, the IRS grants eligible employers a credit equal to 70% of qualifying wages per W2 employee, PER quarter. Except for businesses easily showing sufficient collateral in the forms of assets or sufficient revenue and sales numbers, its difficult to receive approval for a small business credit card without a personal guarantee, which will likely involve a personal credit check. 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. The Stripe Corporate Card is the easiest way for everyone in your company to handle expenses. First off, many credit cards that dont require a personal guarantee are, in fact, corporate cards. - 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. If there is no guarantee that the credit account will be paid off in full, the issuer could suffer a loss. For new businesses in tech or life sciences industries, you earn special lucrative rewards. There are nearly 600 Sams Club locations throughout the United States and Puerto Rico. 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. Our explainer piece on invoice factoring further details this process. Although some users can access this business credit card without a personal guarantee, its difficult to waive the PG. For many credit card applicationsespecially those where proper business registration has occurredbusiness assets and liability are separated from a business owners personal assets and liability. Generally speaking, secured business credit cards are the easiest to get, even if you have bad credit or no credit history. Past performance is not indicative of future results. And if you dont qualify for the exclusive program, youll just earn an unlimited 1 point per dollar spent. Receive automatic reporting on every dollar spent. Get 10-20x higher limits than traditional business credit cards while earning rewards and cash back on everything you spend, likeRead More. Find Loan Options For Your Small Business. Though cards without a personal guarantee requirement reduce risk, they often come with many disadvantages and financial costs. 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. This compensation comes from two main sources. 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. Information provided on Forbes Advisor is for educational purposes only. 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. 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. Can you get a business credit card without a personal guarantee? There is no minimum or maximum number of vehicles, but qualifying businesses need to be structured as partnerships, corporations, or LLCs. It depends. If fuel costs are a major part of your business expenses, the Coast card may help you run your business more efficiently. 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. It targets "medium to large businesses" and it has high income and revenue requirements. Brex Card: Best Cash Back Card With No Personal Guarantee, 4. These cards are generally reserved for larger businesses with an established credit history. Rewards: Earn 1.5% cash back on every purchase. Partnerships and sole proprietorships must provide a personal guarantee to apply for the card. Other Benefits and Drawbacks: With The Stripe Corporate Card* , there are no fees, but also no balances carried: you must pay off your balance each month. If you cant provide a personal guarantee because your personal credit doesnt yet exist, you may be able to instead apply for a secured business credit card or work on building your credit. Because of this, Revenued offers its services with no personal guarantee or credit score requirements in fact, your credit wont be checked at all. 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. 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. To apply for a business credit card with no personal guarantee, youll first need to ensure you meet the cards requirements. If you decide to go this route, check out our article on getting a corporate credit card for tips that can help you succeed. Good credit is typically defined as a score above 670 on the FICO Score model, but its unlikely youll find many business credit card issuers willing to issue your business a credit card if your credit remains subprime unless you can collateralize or secure the line of credit. The only business credit cards worth having that do NOT have a personal guarantee. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. Free bill pay. Business Credit Cards Without Personal Guarantee, Find Accounting & Payroll Software Reviews, Discover The Best Accounting & Payroll Software In 2023, Discover The Best eCommerce Platforms In 2023, Best eCommerce Platform For Small Business, Is Dropshipping Worth It? The Small Business Association says that about one-third of businesses with employees will fail within their first two years. 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. Some specific partner companies like Snap and Kasa. These Credit Card Issuers Are Offering Assistance, The 11 Best Small Business Credit Cards For Cash Back, Introductory Offers, Travel Rewards, & More, The Step-By-Step Guide To Getting A Business Credit Card, Personal Credit Scores Explained: Everything You Need To Know To Understand, Access, & Improve Your Credit Score, Must be a corporation or LLC with $75k+ in the bank to qualify, Opaque eligibility requirements, but non-corporations may qualify, 8x rewards on rideshares if you make daily repayments & make Brex your exclusive corporate card, Must meet one of a number of stringent business requirements, Must have 6+ months in business, $1K in the bank, & $15K/month in revenue, Must have a Stripe account and request an invite in order to qualify, Get a fuel discount of 2 cents per gallon, Must be a partnership, corporation, or LLC -- no sole proprietorships, 2x rewards points on all business purchases + expense management & reporting. Merchant Mavericks ratings are editorial in nature, and are not aggregated from user reviews. The only way it can affect your personal credit is if a card issuer does a hard pull when you apply for the card. The easiest business credit card to get will depend on your credit history, business revenue, and other factors. Ramp makes corporate spend tracking easy. 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. Stripe is also an online payment processor, you can use them to process your business transactions too. 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. Fortunately, if youre looking for business credit cards with no personal guarantee, you have some good options. While Bento Spent Limit cards have a 60-day free trial, monthly membership fees start from $29 per month thereafter. An EIN is a unique nine-digit number assigned by the IRS to identify your business for tax purposes. Cash back. Stripe Corporate is aimed at US-based businesses that use Stripe for payment processing. Erin has more than 15 years experience writing, proofreading and editing web content, technical documentation, instructional materials, marketing copy, editorials, social copy and creative content. Divvy doesnt seem to care much about bad credit scores, just mainly spending habits. Earn 2 points per dollar spent towards statement credits, gift cards, travel rewards and merchandise, with no cap.