This means no credit check requirement for those business owners without solid or established credit. So its no surprise that credit card issuers are leery of extending credit to small businesses with no proven track record. A corporate card will have no annual fee. 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 a card without a personal guarantee requirement is important to you, it may be worth pursuing. 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. Coast is available for US-based businesses that operate fleets of vehicles. Each lender will evaluate your specific circumstances to decide if it will want to take on the risk of lending to you. For all those who dont want to risk personal liability, there are credit cards and accounts without personal guarantee requirements. Most issuers require one or more people within the business to guarantee theyll pay off the balance on their credit account with their personal funds, even if the business goes under. Youll need to be an SVB banking client to be considered for the business card and can apply online to open your account. 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. But startups with good or excellent business credit may be able to apply for loans . You can also set employee spending limits and view and edit budgets in real-time & share them via the web or Divvys mobile app. His financial expertise has been cited in numerous publications, including The Ladders. Business credit cards without a personal guarantee can be hard to obtain. Generally speaking, secured business credit cards are the easiest to get, even if you have bad credit or no credit history. The only business credit cards worth having that do NOT have a personal guarantee. Welcome Offer: see terms for welcome offer details. 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. This helps business owners protect personal property when a business fails. It can be used anywhere Mastercard is accepted. 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. 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. How Do You Apply for a Credit Card with No Personal Guarantee? Citi Cards - Office Depot, Staples. The Stripe Corporate Card is the easiest way for everyone in your company to handle expenses. This Sams Club card is another option on our no-personal-guarantee business credit cards list. 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. What are Business Credit Cards With No Personal Guarantees? Easier borrower qualifications that help you build business credit. Like individuals, businesses have their own credit histories that can affect whether theirowners will be approved for credit cards or other lines of credit, . 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. The catch is, they typically require cardholders to meet minimum revenue requirements and have more than a year's worth of business history. 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 get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. Is looking for a business credit card with no PG worth it? These cards are generally reserved for larger businesses with an established credit history. Though Revenued doesnt have any credit score requirements and does not require a personal guarantee, its eligibility requirements will prevent brand-new startups and businesses without significant monthly revenue from qualifying. Note that we are not able to provide private consultations, give advice, or answer questions. Many business credit cards require a personal guarantee a business owner will pay off debt and this personal guarantee opens a business owner up to liability he or she may not have with respect to other finances. With discounts on useful services and integrations with financial software platforms like QuickBooks & Xero, Stripe can help your business grow in the right direction. 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. 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.". Silicon Valley Bank Innovators Card: Best No Personal Guarantee Card For Startups, SVB Innovators Card Eligibility Requirements, Why We Don't Recommend These Credit Card Options, Office Depot/OfficeMax Business Credit Card, How To Get Business Credit Cards Without A Personal Guarantee, What You Need To Apply For A No Personal Guarantee Card, Choosing The Right No PG Credit Card For Your Business, Dont Qualify For A Card Without A Personal Guarantee? Once you have your Sams card, you earn up to 5% back in Sams Cash when making in-store purchases. Additionally, your business will need to meet at least one of the following requirements: Revenueds Business Card is not technically a business credit card. Though minimizing risk is always a worthwhile consideration, the disadvantages of the cards without personal guarantee requirements may mean taking the risk is worthwhile. We specialize in aged (Primary Business Credit) with EXPERIAN/EQUIFAX/SBFE & PAYMENT LEASING CREDIT. If there is no guarantee that the credit account will be paid off in full, the issuer could suffer a loss. The Brex 30 Card requires no guarantee because it sets credit limits based on cash flow and determines a business eligibility for qualification based on spending patterns and sales volume. You can use them as gifts, miles, a statement credit, or gift cards. Credit cards without a personal guarantee are frequently found in a category known as corporate credit cards. 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. 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. 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).
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