If this is in doubt, be sure you block it. One of the most enjoyable perks of the Sams Club Business MasterCard is that you can use it as a net 30 account and earn cash back on your Walmart and Sams Club purchases. Coast Fleet & Fuel Card: Best No Personal Guarantee Card For Fleet Businesses, 7. Occasionally, we encounter noteworthy product options, even if they dont merit inclusion in our best-of lists. Your revenue from your established business works for you. With Divvy, you can choose to make your repayments weekly, twice a month, or once a month, with your rewards scheme depending on the frequency of your repayments. Coronavirus (COVID-19) Guides & Resources, Cant Make Your Credit Card Payments Due To The Coronavirus? Limit your personal liability when applying for a business credit card by seeking those without a personal guarantee or credit check. 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. Bentos business debit cards can be used to make purchases in stores or online. Rather than deal with complex rewards programs, you'll earn extra cash back every day on every transaction. The SVB Innovators MasterCard is a flexible line of credit that scales alongside company growth. To earn points at these rates, youll need to pay off your Brex card daily and use Brex as your only corporate card. It provides credit cards and money management accounts to technology companies and startups. BJ'S Perks World for Business MC - Comenity. 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. This is why most issuers of business credit cards require a personal guarantee in the first place. All feedback, positive or negative, helps us to improve the way we help small businesses. Sams Club Business MC - Synchrony Bank. Well be exploring these no personal guarantee credit cards in a moment. Divvy Credit Card: Best No Personal Guarantee Card For Managing Budgets, 3. Since these cards require you to post a security deposit, they are relatively easy to obtain. Here is Revenueds list of eligibility requirements: Stripe offers relatively new businesses that use the companys payment processing services a chance to apply for a corporate credit card without signing a personal guarantee. As such, business credit cards without a personal guarantee are rare. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. 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. For most small business owners, getting a company credit card without a personal guarantee probably wont be a walk in the park. A poor personal credit score on top of that can hurt a startup owner's chances of being approved for funding. This card doesnt require a personal guarantee for all users. These cards typically free you from personal guarantees and include perks such as improved expense reporting and easier access to flexible credit lines. 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. If your business spending doesnt follow a predictable pattern and/or you dont want to have to keep track of bonus categories for spending rewards, Ramp may be the corporate card for you. The Shell Small Business Card is available for use at Shell gas stations and is another small business credit card with no personal guarantee required. The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation. 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. 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. Additional rewards options are available for tech, science, and remote companies. The Brex Corporate Card is a charge-type card where your balance is fully due. No PG business credit cards offer many advantages - Use the funds to purchase supplies to fulfill orders. Your personal credit won't be held liable. You will be held personally liable for your business credit card balance if the business closes or defaults. These cards are generally reserved for larger businesses with an established credit history. At 18 he ran away and saw the world with a backpack and a credit card, discovering that the true value of any point or mile is the experience it facilitates. The Stripe Corporate Card is the easiest way for everyone in your company to handle expenses. Office Depot OfficeMax Business Credit Account. All Rights Reserved. Consumers join Sams Club so they can save on items they need regularly, but Sams Club also provides supplies to businesses. Youll earn points by using your Divvy card for purchases in three categories: restaurants, hotels, and recurring software subscriptions. Other approval requirements include: The Bento Business Visa Debit Card is available to all business owners, no matter the size or industry. Yes. Stripe also does not offer additional redemption options, such as airfare points or gift cards. Free accounting automation. The Ramp Business Card does not offer rewards on purchases. Earn 2 points per dollar spent towards statement credits, gift cards, travel rewards and merchandise, with no cap. With discounts on useful services and integrations with financial software platforms like QuickBooks & Xero, Stripe can help your business grow in the right direction. Its a limited selection, but for those who insist on keeping things separate, there are a few options. 1. The Employer Identification Number (EIN) is a nine-digit tax identification number, similar to a Social Security Number or Individual Taxpayer Identification Number (ITIN), but mostly used by businesses. Editorial Note: We earn a commission from partner links on Forbes Advisor. Business credit cards that dont require a personal guarantee are difficult to qualify for. When a business owner gives a personal guarantee to a credit card issuer or other lender, he or she is agreeing that his or her personal assets and credit are open to collections in the event he or she cant or doesnt pay the business bill. 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. If you pay monthly, your rewards rate will be 1x lower for each category (7x on rideshares, 4x on travel, etc.). With a few notable exceptions, Stripe Corporate does not offer any higher tiers of earning on specified categories, such as travel or dining. How To Get Business Credit Cards With An EIN Only. 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. SVB also offers a business checking account. 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. To apply for a business credit card with no personal guarantee, youll first need to ensure you meet the cards requirements. Stripe Corporate is aimed at US-based businesses that use Stripe for payment processing. 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 . Once you have your Sams card, you earn up to 5% back in Sams Cash when making in-store purchases. The only credit card that allows you to control spend at the merchant, category, and spend level. Brex Cash provided by Brex Treasury LLC, member FINRA and SIPC. No PG Business Line Of Credit with A To B Fuel Card, Divvy, Paypal Working Capital and other business credit using your business revenue. Check out our list of the best business credit cards. No founder liability. 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. For one, the options are severely limited. And if you dont qualify for the exclusive program, youll just earn an unlimited 1 point per dollar spent. Let's look at the seven best no personal guarantee credit cards for business. Using these types of cards responsibly can help you build your credit profile. Ramp offers a free corporate card and finance management system for small businesses. Find Loan Options For Your Small Business. For cards where a personal guarantee is not required, an individual on the account may be able to avoid personal liability. You might need to fill out a paper application, but most providers allow you to apply online. Beyond requiring applicants to have a US bank account and EIN, Divvy is nontransparent about its eligibility requirements the one requirement it discloses is that most applying businesses must have at least $20K in an active account. While startups can get approved for a Ramp credit card, eligibility requires a minimum business bank account balance of $75,000. You can use it at any Office Depot stores or OfficeMax locations, and also on their online shops. It targets "medium to large businesses" and it has high income and revenue requirements. 7 Key benefits Earn 2% back in your top 2 categories where you spend the most, automatically. Ramp savings. Brex Inc. is a financial service and technology company headquartered in San Francisco. Their rewards program also offers up to 7x bonus points for restaurant purchases and 5x on hotels, and 1.5x on everything else. APR Business credit cards without a personal guarantee can be hard to obtain. Some discounts arse given by using the same card at Jiffy Lube stations. $0. 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. Welcome Offer: Earn $50 credit for the first $150 purchase made within 60 days of account open date. But startups with good or excellent business credit may be able to apply for loans . Its easy to see why credit card companies require personal guarantees. Dell Computer, Lowes, Amazon Net 55, JCP & Menards, might approve applications without PG if you can demostrate a year or so of payment . 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. Whats more, according to Stripe, you can get up and running with a virtual card in minutes.. We suspect that veteran Stripe users with plenty of history with the company that show regular sales and revenue will be more likely to receive approval for this card from the payment processing company. 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. 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. Your financial situation is unique and the products and services we review may not be right for your circumstances. That includes having no PG, an unlimited number of employee cards, and a credit line that scales with your companys growth. 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. Additionally, your business will need to meet at least one of the following requirements: Revenueds Business Card is not technically a business credit card. All Rights Reserved. If you have equity investors from an accelerator program or an angel/VC investor, this will help you immensely. The Office Depot OfficeMax Business Credit Card is a no-annual-fee card with no personal guarantee requirements. 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. Earn miles and points with a small business. Rewards: Earn see terms for rewards details. How To Make The Right Choice, Buy Now Buttons: The Key To Selling On Your Blog Or Website, Revenueds list of eligibility requirements, top business credit cards for borrowers with bad credit, How To Get Lower Interest Rates On Credit Cards. Id also recommend looking at our merchant cash advance calculator to understand what different factor rates mean in terms of your borrowing costs. 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. Other Benefits and Drawbacks: The Brex 30 Card is a charge card, meaning it must be paid off every month in full. Ramp Corporate Card: Best Corporate Card With No Personal Guarantee, 2. While many cards in the market now offer no foreign transaction fees, Divvy adds a fee of 0.2% to 0.9%. What Is Online Check Writer & Is It Worth It? A card like these reduces your personal risk in financing purchases or transacting with the card but wont necessarily eliminate it. Brex is available only for C-corps, S-corps, LLCs, or LLPs organized and registered in the US. Royal Dutch Shell is an oil and gas company most recognized for its gas stations, which feature its iconic shell logo. Other Benefits and Drawbacks: There is no balance revolution with the Ramp Business Card, meaning a balance must be paid off each month. Our explainer piece on invoice factoring further details this process. In her role at Fast Capital 360, Erin covers topics of interest to small business owners, including sales, marketing, business management and financing. Fast turnaround: as little as 1-2 days. Almost anyone with a business can get approved, even if you have bad credit. 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. Nonetheless, you cant expect to get a decent line of credit if you sign up for the card immediately after starting your first Stripe account. 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. That can even mean suing the cardholder personally to get a judgment. We occasionally send out emails with special offers. Then they try to find out more about your business spending habits, by having you content your business bank accounts. 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. 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.". Sole proprietorships are not eligible. If your company becomes insolvent, the cardholder isnt personally liable for the remaining debt on the credit card. Please try again later. You may also be able to open a secured business credit card account to help build your business credit. There is also a 50% cash back offer if you purchase 1Password. 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. Otherwise, theyll be less-inclined to offer your business a card with strong rewards, excellent benefits and other perks. The Forbes Advisor editorial team is independent and objective. This includes zero liability and fraud protection. Youll earn a flat 1.5% percent cash back on all purchases, with no limits or restrictions. 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. However, this card can be used only for vehicle-related expenses and only at two types of vendors: Shell gas stations and Jiffy Lube. Do all business credit cards require a personal guarantee? What are Business Credit Cards With No Personal Guarantees? Use the Stripe Corporate card, and youll earn a flat 1.5% cash back on every business purchase. Some banks issue secured business credit cards for this purpose. Rewards: Earn 1.5% cash back on every purchase. 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. Merchant Mavericks ratings are editorial in nature, and are not aggregated from user reviews. This compensation comes from two main sources. Fortunately, if youre looking for business credit cards with no personal guarantee, you have some good options. 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. Otherwise, a different card is likely a better, more rewarding fit. Personal guarantee requirements mean that when you apply for a business credit card, youll be required to share your personal information, and your personal credit will be hit with a hard inquiry that can affect your credit score. Your rewards balance will be automatically credited to your balance each month. Free bill pay. Most of the cards that are available are only for specific types of purchases, and many can only be used at a single retail location, such as a gas station or supply store. The Divvy no PG business card has no annual fee. It does, however, charge a fee for late payments of 2.99%. You also use your EIN when you open a business bank account or establish a vendor line of . 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. Issuing business credit cards is risky because businesses fail so often. 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. So no, you do not need an EIN to apply for a business card. Best Business Credit Cards Without A Personal Guarantee Requirement, Get 10-20x higher limits than traditional business credit cards while earning rewards and cash back on everything you spend, like. You can use them as gifts, miles, a statement credit, or gift cards. There are nearly 600 Sams Club locations throughout the United States and Puerto Rico. 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.