1. As a cardholder, youll also get full to Divvys expense management software and budgeting tools. 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 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. Stripe also does not offer additional redemption options, such as airfare points or gift cards. Sams Club is a membership-only retail warehouse where members can buy items in bulk at a discount. Receive automatic reporting on every dollar spent. The rating of this company or service is based on the authors expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. A card solution for your company. These cards are generally reserved for larger businesses with an established credit history. Youll get a flexible line of credit, with your future sales being your collateral. They even offer expert contract negotiation services to ensure you get similar pricing to the rest of their cardholders. Credit limit. 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. Something went wrong. The 7 Best Business Credit Cards With No Personal Guarantee Required. It gives 1 - 7 points per $1 spent on purchases overall and provides a lucrative initial bonus. Merchant Mavericks ratings are editorial in nature, and are not aggregated from user reviews. You can also set employee spending limits and view and edit budgets in real-time & share them via the web or Divvys mobile app. Fortunately, if youre looking for business credit cards with no personal guarantee, you have some good options. All Rights Reserved. Earn 2 points per dollar spent towards statement credits, gift cards, travel rewards and merchandise, with no cap. 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. But first, lets go over the pros and cons of these cards from a business perspective. Bank of America's Business Advantage Unlimited Cash Rewards Secured credit card earns unlimited 1.5% cash back on all purchases. EIN-only cards are great for building your business credit, and they're a huge help when it comes to keeping your personal and business expenses separate. 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.". The main real differences between a Bento Spent Limit Visa card and secured credit cards are. 2 business credit card with no PG options: Credit card paid daily: for companies of any size, no minimum balance (available with every cash management Brex account) Credit card paid monthly: for eligible companies that meet certain size and revenue criteria Up to 7-8 times rewards points, depending on card selected Sams Club Business MC - Synchrony Bank. No fees. 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. No PG Business Line Of Credit with A To B Fuel Card, Divvy, Paypal Working Capital and other business credit using your business revenue. Business Credit Cards | Compare Business Credit Cards | U.S. Bank Is looking for a business credit card with no PG worth it? Opinions expressed here are authors alone. These types of cards are often called a Corporate Credit Card. 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. Welcome Offer: see terms for welcome offer details. The Ramp Corporate Card sets itself apart by offering a straight 1.5% cash back on all purchases. Requirements: 600+ credit score, 12+ months in business and $100,000+ revenue. All Rights Reserved. The Office Depot Business Credit Account* is a closed-loop card, meaning its only accepted by Office Depot and OfficeMax. 9 Best No PG Business Credit Cards Worth Applying For - Planning Guide 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. If you need a business credit card and cant or dont want to provide a personal guarantee, your options may be limited to cards such as the ones on our list above. Rather, it is a prepaid spending card tied to your future business revenue. Coast is available for US-based businesses that operate fleets of vehicles. 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. Your revenue from your established business works for you. First off, many credit cards that dont require a personal guarantee are, in fact, corporate cards. Thus it is a good no PG credit card for companies that own fleets. Rewards: Earn see terms for rewards details. While startups can get approved for a Ramp credit card, eligibility requires a minimum business bank account balance of $75,000. 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. Compare Business Credit Cards | Chase A corporate card will have no annual fee. If your business spending is varied and diffuse, youll love Revenueds flat 3% cash back rate on all eligible purchases an exceptional rate for any small business credit card, much less one that doesnt sport any credit score requirements. 1. Small business owners risk piercing the corporate veil when mixing personal and business finances. If you believe your business meets the requirements for the card you want, simply fill out the application and submit it. 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. Start earning rewards with your corporate spending today. The credit is offered without collateral. No PG Business Line Of Credit Stop Struggling Now Office Depot OfficeMax Business Credit Account. 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. Brex Inc. is a financial service and technology company headquartered in San Francisco. Stripe Corporate Card: Best No Personal Guarantee Card For New Businesses, Stripe Corporate Card Eligibility Requirements, 6. 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. Some companies will qualify for monthly repayments, but your rewards rate will be slightly lower. You can also get 5% back on gasoline purchases up to $6,000 (1% thereafter), 3% back on dining and takeout, and 1% back on all other purchases. If your business is at that size, you likely can qualify for a corporate card, such as Ramp or Brex, that offers rewards. How To Build Business Credit Fast in 2023 | EIN Only & No PG shorts Its easy to see why credit card companies require personal guarantees. 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 . Divvy doesnt seem to care much about bad credit scores, just mainly spending habits. You can add employee cards, though youll pay a $2 fee per card in any month where the employee uses that card. 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. Get an EIN-Only Business Credit Card | Nav So its no surprise that credit card issuers are leery of extending credit to small businesses with no proven track record. For cards where a personal guarantee is not required, an individual on the account may be able to avoid personal liability. In certain circumstances, it may be possible to obtain business credit using only your EIN without providing your SSN. Stripe makes eligibility decisions based on your payment volume, your history on Stripe, and your bank account history. Do all business credit cards require a personal guarantee? Rewards: Earn 1.5% cash back on every purchase. The Office Depot Business Credit Account does not offer rewards on purchases. Note that we are not able to provide private consultations, give advice, or answer questions. But the relative lack of options without a personal guarantee doesnt mean its impossible. The cards reward-earning makes it convenient for flush businesses with no need for 0% intro APRs, welcome bonuses and no desire for annual fees. 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Its a limited selection, but for those who insist on keeping things separate, there are a few options. The Stripe card has zero fees and credit limits that grow alongside your business. Which card meets the needs of and best suits your business is up to you and how you run your business. We'd love to hear from you, please enter your comments. Credit cards without a personal guarantee are frequently found in a category known as corporate credit cards. Fast turnaround: as little as 1-2 days. You might be using an unsupported or outdated browser. Before applying, carefully consider your options. Free accounting automation. Many business credit cards that dont require a PG will have stringent qualification criteria. There is no minimum or maximum number of vehicles, but qualifying businesses need to be structured as partnerships, corporations, or LLCs. Citi Cards - Office Depot, Staples. 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. If you decide to go this route, check out our article on getting a corporate credit card for tips that can help you succeed. 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. Theres no one best card for every business, and the same holds true with the cards not requiring a personal guarantee. reported to Experian and Dun & Bradstreet, Lenders Like Kabbage: Competitors for Small Business Loans, C Corp vs S Corp: Best Options for Small Business Owners, Biz2credit Review: Direct Lender for Working Capital Loans, Cares Act: Tax Benefits for Businesses and Employees in 2023, Employee Retention Credit for Manufacturing Industry (2023), Employee Retention Credit for Nonprofits/Tax Exempt in 2023, How to Apply for Employee Retention Credit in 2023 Guide, There is no security deposit or credit check required, You can easily issue unlimited employee cards, You can easily limit or block employee cards with a few clicks. ASAP EIN Business Credit-No PG Required! 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. Jason graduated with a Political Science degree from San Diego State University in 2001. Some banks issue secured business credit cards for this purpose. Companies using Ramp are also required to have at least $75,000 in the bank. Other corporate cards without personal guarantees may have similar or even stricter requirements, such as over $1 million in annual revenue. The SVB Innovators MasterCard is a flexible line of credit that scales alongside company growth. As such, business credit cards without a personal guarantee are rare. In some cases, you could be approved in a matter of minutes and immediately start using your card. The only way it can affect your personal credit is if a card issuer does a hard pull when you apply for the card. Applying for a Business Credit Card Using an EIN - Lendio 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.