Find Loan Options For Your Small Business. Business Debit Card: 0%: 0.00%: No PG: . Thus it is a good no PG credit card for companies that own fleets. How Do You Apply for a Credit Card with No Personal Guarantee? 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. Top 10 Business Credit Cards Using EIN Only 2023: Cards For Bad, Fair or No Credit CREDIT S2E158 The Awesome S'witty Kiwi Show 38.9K subscribers Subscribe 2.6K Share 97K views. Free accounting automation. You might need to fill out a paper application, but most providers allow you to apply online. Start earning rewards with your corporate spending today. 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. With discounts on useful services and integrations with financial software platforms like QuickBooks & Xero, Stripe can help your business grow in the right direction. 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. According to the application form, your company must have more than $5 million in annual sales revenues, be more than 2 years old and have more than 10 employees. You wont be able to withdraw that money while your card is active, but over time, youll repair your credit and be able to apply for different types of business credit cards. Thats why its important for startups to demonstrate that they have the funding necessary to survive and grow. 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. Youll also get access to a number of Coast partner benefits, such as a 10% discount on maintenance & oil changes at Jiffy Lube and a 30% discount on QuickBooks products for 6 months. Advertiser Disclosure: Our unbiased reviews and content are supported in part by, Jason Vissers has been researching, analyzing, and writing about small business software and finance since 2015. 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. You can use them as gifts, miles, a statement credit, or gift cards. This business credit card lets you make purchases at Office Depot and OfficeMax stores, both in-person and online. Divvy offers a flexible rewards structure that lets you earn rewards faster by paying off your balance more frequently. 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. Some companies will qualify for monthly repayments, but your rewards rate will be slightly lower. The best business credit cards without a personal guarantee requirement were chosen based on whether they required a personal guarantee first and foremost, then welcome bonuses, fees, rewards and other perks. APR Let us know how well the content on this page solved your problem today. Other Benefits and Drawbacks: The Brex 30 Card is a charge card, meaning it must be paid off every month in full. Youll also get access to spend management, automated bill pay, partner rewards, a mobile app, and much more. 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. also offer 5% money back on purchases. It only works at Office Depot and OfficeMax locations. Can you get a business credit card with bad personal credit? No monthly fees or account setup costs are associated with this card, which is free to apply. Pay weekly, and you can earn up to 7x points on restaurants, for example, with that rate dropping to 4x if you pay twice a month and 2x if you pay monthly. There is no paperwork required to apply for this no-PG business credit card. 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. The Divvy no PG business card has no annual fee. It does, however, charge a fee for late payments of 2.99%. To qualify for the Tillful Business Credit Card, your business needs to (1) be incorporated in the US with a valid EIN, (2) be incorporated for a minimum of 3 months, (3) not be in any of the restricted industries specified by Sutton Bank, and (4) have a Tillful Credit Account and be in compliance with . $0. Royal Dutch Shell is an oil and gas company most recognized for its gas stations, which feature its iconic shell logo. You can prequalify today, just by answering 8 simple Yes or No questions. Performance information may have changed since the time of publication. 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. 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. Use the Stripe Corporate card, and youll earn a flat 1.5% cash back on every business purchase. If there is no guarantee that the credit account will be paid off in full, the issuer could suffer a loss. 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. Bremer Bank Visa Signature Business Company Card. If you're trying to avoid personal liability, then look to corporate credit cards, gas cards, or prepaid business credit cards as your top options for business credit cards you can get with an EIN only. What are Business Credit Cards With No Personal Guarantees? 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. Additional perks are available to Stripe Corporate customers in special offers from about 20 partner companies. 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. If you want to apply for the account without a personal guarantee, though, there are some stipulations. Copyright 2022 Fast Capital 360. 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. A corporation in business for at least three years with more than $5 million in annual sales. For new businesses in tech or life sciences industries, you earn special lucrative rewards. Looking for a business card without a personal guarantee? You may have heard about Shells small business card, with its fuel rebates and its lack of a PG requirement. Nearly every major business credit card relies on a personal guarantee (PG) from the applicant. A card like these reduces your personal risk in financing purchases or transacting with the card but wont necessarily eliminate it. Other ways you can reduce personal liability with a business credit card include reducing authorized users and employee cards. Brex Inc. is a financial service and technology company headquartered in San Francisco. You can add employee cards, though youll pay a $2 fee per card in any month where the employee uses that card. Welcome Offer: Earn $50 credit for the first $150 purchase made within 60 days of account open date. With a handful of other benefits, the Sams Club Business Mastercard is likely only a solid card for those who plan to shop with Sams Club, and even then those businesses using the Plus version of membership. Are you personally liable for business credit cards? Your personal credit won't be held liable. Whatever the amount is that you deposit is your credit limit. You can request an invitation online, but there is no guarantee that youll be accepted for the card. With automatically-credited rewards and dynamic credit limits that will grow with your business, the Stripe Corporate Card packs in the partner offers and integrates with finance tracking softwares like Quickbooks, Expensify and Xero. 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. Rewards: Earn 7 points per dollar on rideshare, 4 points per dollar on travel booked through Brex Travel, 3 points per dollar on restaurants, 2 points per dollar on recurring software and 1 point per dollar on everything else. Coast is available for US-based businesses that operate fleets of vehicles. It can be used anywhere Mastercard is accepted. Commissions do not affect our editors' opinions or evaluations. You also use your EIN when you open a business bank account or establish a vendor line of . Companies must qualify to be eligible for a paid-monthly credit card, but those eligible for a Brex Cash account qualify for a paid-daily card. 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. 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. Some business credit cards dont require a personal guarantee. Information provided on Forbes Advisor is for educational purposes only. No matter how many cards you use, points will accrue in a single pool. 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. However, you wont receive overwhelming rewards when you choose this card. 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. 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.