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Other approval requirements include: The Bento Business Visa Debit Card is available to all business owners, no matter the size or industry. Sams Club Business Credit - Synchrony Bank. 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. How To Get Business Credit Cards With An EIN Only. But first, lets go over the pros and cons of these cards from a business perspective. While Divvy can approve corporations for up to $15 million, most small business owners would only receive a credit limit of up to $50k. 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. A personal guarantee means that if you default on the credit card or make late payments, the issuer can try to collect from the cardholder, and not just the business. 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. 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. The best business credit cards, however, are those where the credit card issuer does not require personal liability to get approved. 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. What's the benefit of getting a no personal guarantee business credit card? No monthly fees or account setup costs are associated with this card, which is free to apply. Issuers may also charge higher APRs or charge other fees for the privilege of a business credit card that doesnt risk your personal financial and credit health. Consumers join Sams Club so they can save on items they need regularly, but Sams Club also provides supplies to businesses. Although some users can access this business credit card without a personal guarantee, its difficult to waive the PG. This card doesnt require a personal guarantee for all users. With discounts on useful services and integrations with financial software platforms like QuickBooks & Xero, Stripe can help your business grow in the right direction. APR What are Business Credit Cards With No Personal Guarantees? For your monthly expenses, you get 2% back. What is the easiest business credit card to get? Administrators of the account can access a section that illustrates the companys long-term spending over time, while identifying areas the company can save. It grants 3x reward points for all software purchases. 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 your balance is too low, the transaction simply will be denied. Get 10-20x higher limits than traditional business credit cards while earning rewards and cash back on everything you spend, likeRead More. 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. Other Benefits and Drawbacks: There is no balance revolution with the Ramp Business Card, meaning a balance must be paid off each month. Otherwise, a different card is likely a better, more rewarding fit. Youll get a flexible line of credit, with your future sales being your collateral. EINs are used by businesses, from large companies to sole proprietors, to file taxes. 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. Rewards: This card does not offer a rewards, Welcome Offer: This card does not offer a welcome bonus. there are some foreign transaction fees in the form of 0.90% cross-border fees, and 0.20% currency conversion fees. And if you dont qualify for the exclusive program, youll just earn an unlimited 1 point per dollar spent. Citi Cards - Office Depot, Staples. These types of cards are often called a Corporate Credit Card. The Stripe Corporate Card is also invite-only. Again, qualifying for a small business credit card might be easier than you think. Senior Writer, Editor and Social Community Manager at Fast Capital 360, 5. Though cards without a personal guarantee requirement reduce risk, they often come with many disadvantages and financial costs. When using a Bento Spent Limit card, you first have to load money onto it. Youll also be asked to share information about your funding sources, any incubator or accelerator programs youre involved with, and service providers you work with, such as law or accounting firms. We specialize in aged (Primary Business Credit) with EXPERIAN/EQUIFAX/SBFE & PAYMENT LEASING CREDIT. 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. You may have heard about Shells small business card, with its fuel rebates and its lack of a PG requirement. The Office Depot OfficeMax Business Credit Card is a no-annual-fee card with no personal guarantee requirements. 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. Whatever the amount is that you deposit is your credit limit. Find Loan Options For Your Small Business. 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. Finally, if you qualify for a corporate credit card and are determined to get one, know that although the requirements may be tough to meet, youll also get benefits not commonly offered by normal business credit cards, such as custom spend management, integrations with time tracking & accounting software, and other exclusive business perks. Sole proprietors or other unregistered businesses need not apply. The Stripe card has zero fees and credit limits that grow alongside your business. A personal guarantee (PG) means the business owner or executive agrees to pay off the balance of the card with their own money if the business cannot. SVB also offers a business checking account. Can you get a business credit card with bad personal credit? It targets "medium to large businesses" and it has high income and revenue requirements. 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. Youll need to reach out to Divvy for more information. 0% on purchases for the first 12 months. Welcome Offer: Earn 30,000 points after spending $3,500, or 50,000 points after spending $9,000 within 30 days. You might be using an unsupported or outdated browser. Unfortunately, they dont have another system for using your reward points, like for travel or gift cards. 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. The application is available online and asks for information about your business, including address and year of founding, revenue model, and forecasted and previous annual revenue. No fees. While Revenued doesnt offer any additional partner discounts, it does offer a generous welcome offer: $500 cash back after you spend $5,000+ within three months of getting your card. 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. Business Debit Card: 0%: 0.00%: No PG: . 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. However, people with lower scores might qualify for a secured business credit card or another card designed for borrowers with poor credit. 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. Its ability to apply without a personal guarantee means your business can restock on critical supplies using a credit account without requiring a business owners personal assets be risked. Businesses looking to carry balances should look elsewhere, but for those who can pay off charges each month (or even each day) the Brex 30 Card offers a long list of perks. At first, they ask for some simple personal and business details like contact information and your Employer Identification Number. Bentos business debit cards can be used to make purchases in stores or online. Instantly provision cards and manage your company's spending in real-time. It gives 1 - 7 points per $1 spent on purchases overall and provides a lucrative initial bonus. 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. 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. Welcome Offer: Earn $50 credit for the first $150 purchase made within 60 days of account open date. 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. Divvy is all about flexibility. 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. 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.". No PG Business Line Of Credit with A To B Fuel Card, Divvy, Paypal Working Capital and other business credit using your business revenue. Your personal credit won't be held liable. 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 earn unlimited rewards points at a rate of 2x on all purchases made using your SVB Innovators Card. 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. These cards typically free you from personal guarantees and include perks such as improved expense reporting and easier access to flexible credit lines. The Sams Club Business Mastercard* charges no annual fee (apart from the fees required for Sams Club Membership) and earns solid rewards for companies with moderate gas purchases and who plan to eat out or order in often. 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. Additionally, Divvy lets you manage your companys spending by setting budgets by team, project, event, or any other category. If you cant find a business credit card that doesnt require a PG and which sports eligibility requirements you can meet, you might look for a secured credit cardinstead. 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. 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. Requirements: Credit score 600+, $250,000 per year revenue, 6 months in business. A card solution for your company. ASAP EIN Business Credit-No PG Required! If an owner or operator makes business purchases on a personal card or vice versa, it may appear that the business isnt treated as a separate entity. Youll earn points by using your Divvy card for purchases in three categories: restaurants, hotels, and recurring software subscriptions. Ramp makes corporate spend tracking easy. 1. You may also be able to open a secured business credit card account to help build your business credit. 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? If your business spending is varied and a flat-rate rewards card fits your needs, youll have several good options to choose from, but if youre looking for great travel rewards & perks, your search may be more challenging, and you may have to moderate your expectations a bit. 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. Are you personally liable for business credit cards? 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. The card can be used anywhere where they accept MasterCard and you dont have to pay any additional annual or monthly fees. Most credit card issuers will look for a credit score of 600 or above. While many cards in the market now offer no foreign transaction fees, Divvy adds a fee of 0.2% to 0.9%. To earn points at these rates, youll need to pay off your Brex card daily and use Brex as your only corporate card. 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. If you have equity investors from an accelerator program or an angel/VC investor, this will help you immensely. The Ramp Business Card does not offer rewards on purchases. But remember, you're personally responsible for the charges on a business credit . While Bento Spent Limit cards have a 60-day free trial, monthly membership fees start from $29 per month thereafter. Few lenders want to assume all the risk when it comes to your businesstheyll want you to have some stake. AT A GLANCE Pay in Full Card with Unlimited Earn Potential Earn 2.5% cash back on purchases over $5,000 and 2% cash back on all other business purchases. 0% on purchases for the first 12 months. 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. As such, business credit cards without a personal guarantee are rare. Your rewards balance will be automatically credited to your balance each month.