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. Performance information may have changed since the time of publication. $0. With a Ramp charge card, you can earn 1.5% cash back on all business purchases without having to target rewards categories. 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. First off, many credit cards that dont require a personal guarantee are, in fact, corporate cards. So, whatever money you deposit onto a Bento Visa debit card, you can spend it immediately, and When you use your Bento debit card, you will also not be charged any interest, as you will only be spending your own money when doing so. These cards typically free you from personal guarantees and include perks such as improved expense reporting and easier access to flexible credit lines. Let's look at the seven best no personal guarantee credit cards for business. Brex Cash provided by Brex Treasury LLC, member FINRA and SIPC. This form is for feedback only. When you sign a personal guarantee, you agree to be personally responsible for any debt the business takes on. Which card meets the needs of and best suits your business is up to you and how you run your business. Other corporate cards without personal guarantees may have similar or even stricter requirements, such as over $1 million in annual revenue. NO PG. 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. Each lender will evaluate your specific circumstances to decide if it will want to take on the risk of lending to you. 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. You should double-check with the service provider/financial institution directly as well as obtain independent financial advice prior to making any financial commitments or business decisions. No monthly fees or account setup costs are associated with this card, which is free to apply. If your business experienced a significant decline in gross receipts or was impacted by government shutdowns due to COVID-19, then let us help you solve the IRSs refund application puzzle. It targets "medium to large businesses" and it has high income and revenue requirements. You can create separate physical and virtual cards for all of your employees, as well, as control spending and access to them individually. 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. Youll get a flexible line of credit, with your future sales being your collateral. Once you have your Sams card, you earn up to 5% back in Sams Cash when making in-store purchases. 2023 Forbes Media LLC. 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. Get industry-leading advice to help you make confident decisions. 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. Divvy now accepts all business types, from sole proprietorships to corporations to LLCs, although its website doesnt disclose this. Editorial Note: We earn a commission from partner links on Forbes Advisor. Can you get a business credit card with bad personal credit? Some of the 50+ companies that offer Ramp cardholder discounts are Salesforce, Slack, and Zendesk, as well as, Amazon Web Services (AWS), Stripe, and Plastiq. Copyright 2023 Merchant Maverick. 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. Additionally, Divvy lets you manage your companys spending by setting budgets by team, project, event, or any other category. Many business credit cards on the market require some personal guarantee. His financial expertise has been cited in numerous publications, including The Ladders. There are good reasons to keep personal finances and risk separate from your business finances and risk. 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. Ramp savings. 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. Brex Inc. is a financial service and technology company headquartered in San Francisco. For many credit card applicationsespecially those where proper business registration has occurredbusiness assets and liability are separated from a business owners personal assets and liability. Lets look at the seven best no personal guarantee credit cards for business. Here are some options we researched and decided to leave off this list: If youre already a Sams Club warehouse store member or dont mind shelling out $45 to become one, you might be offered a Sams Club Business Mastercard. The Office Depot Business Credit Account* is a closed-loop card, meaning its only accepted by Office Depot and OfficeMax. No PG business credit cards offer many advantages - Use the funds to purchase supplies to fulfill orders. 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. Brex Card: Best Cash Back Card With No Personal Guarantee, 4. In certain circumstances, it may be possible to obtain business credit using only your EIN without providing your SSN. If youre looking for a business credit card with no personal guarantee and regularly have business expenses with those two businesses, this card definitely is worth looking into. This business credit card lets you make purchases at Office Depot and OfficeMax stores, both in-person and online. 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. The SVB Innovators Card is designed to support growth for startups. 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. Unlike most business credit cards, this corporate card doesn't require a personal guarantee. Sole proprietorships are not eligible. Sole proprietors or other unregistered businesses need not apply. Instantly provision cards and manage your company's spending in real-time. 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. 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. Though cards without a personal guarantee requirement reduce risk, they often come with many disadvantages and financial costs. And like several other cards on this list, Divvy offers automatic expense reporting features. Free employee cards. 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. We'd love to hear from you, please enter your comments. 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. Costco Commercial Revolving and Net 30 - Capital One. How Do You Apply for a Credit Card with No Personal Guarantee? Senior Writer, Editor and Social Community Manager at Fast Capital 360, 5. 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. Youll earn points by using your Divvy card for purchases in three categories: restaurants, hotels, and recurring software subscriptions. As such, the average small business owner wont be able to apply successfully for a credit card with no personal guarantee. 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? 3. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. All transactions are then instantly debited from the amount you deposit on your card. You will be personally liable for business credit card balances if you sign a legally binding personal guarantee when you apply for the card. A card like these reduces your personal risk in financing purchases or transacting with the card but wont necessarily eliminate it. 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. 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. The best business credit card without a personal guarantee is the Brex Corporate Card for Startups because it has a $0 annual fee and offers bonus rewards in categories relevant to small businesses, like travel, dining and software. Other Benefits and Drawbacks: The one listed extra perk of the Office Depot Business Credit Account* is the ability to link an Office Depot/OfficeMax Rewards account with the card to ensure every purchase the card is used for automatically earns rewards. You also use your EIN when you open a business bank account or establish a vendor line of . Well detail the best of these cards in this guide. Though minimizing risk is always a worthwhile consideration, the disadvantages of the cards without personal guarantee requirements may mean taking the risk is worthwhile. 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. If you decide to go this route, check out our article on getting a corporate credit card for tips that can help you succeed. Information provided on Forbes Advisor is for educational purposes only. Some banks issue secured business credit cards for this purpose. There are no annual fees, interest rates, or foreign transaction fees associated with the Ramp Card. His financial expertise has been cited in numerous publications, including, View Jason Vissers's professional experience. Check out our post on the cards weve ranked as the best corporate credit cardsfor your business. This includes zero liability and fraud protection. If your company becomes insolvent, the cardholder isnt personally liable for the remaining debt on the credit card. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. Jason Vissers has been researching, analyzing, and writing about small business software and finance since 2015. Do you need startup financing, working capital for your business, funding for equipment or real estate? If your bank statements show a healthy cash flow, and you pay some monthly bills or online subscriptions via credit card this will help get you higher credit limits. You will be held personally liable for your business credit card balance if the business closes or defaults. 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. 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. 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. Ramp Corporate Card: Best Corporate Card With No Personal Guarantee, 2. This Sams Club card is another option on our no-personal-guarantee business credit cards list. Although some users can access this business credit card without a personal guarantee, its difficult to waive the PG. Yes, you can open a business credit card without using your personal credit, but only if the card issuer does not require a personal guarantee. You might be using an unsupported or outdated browser. 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. Chauncey grew up on a farm in rural northern California. National Funding offers affordable small businesses funding with reasonable rates, zero collateral, and fast deposit upon approval. Its equally easy to see why a business owner might want to steer clear of them. The Forbes Advisor editorial team is independent and objective. As a cardholder, youll also get full to Divvys expense management software and budgeting tools. At first, be sure you enter your EIN only so that credit card approval will be based on the strength of your business purchasing power. 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. Requiring only a Stripe account to apply, The Stripe Corporate Card* is available by invite only, but charges no annual fees, no foreign transaction fees and no late fees. Stripe Corporate is aimed at US-based businesses that use Stripe for payment processing. 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. When using your Stripe corporate credit card, you will earn 1.5% money back on expenses no matter the category, and the rewards are immediately credited to your monthly due balance. All Rights Reserved. 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. 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. 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. Other ways you can reduce personal liability with a business credit card include reducing authorized users and employee cards. The best EIN-only business credit card for startups (no PG) is.. Watch the video to find. Bad Credit Business Loans: 5 Best Options, How to Communicate a Price Increase to Customers, 13 Small Business Goals to Implement This Year, How to Create a Business Plan to Succeed in 2023, Build a Small Business Emergency Fund in 8 Steps, Best Ways to Use a Business Loan to Boost Growth, Loans & Grants for Hispanic-Owned Businesses, Here are some of the best business credit cards, Office Depot OfficeMax Business Credit Account, Silicon Valley Banks (SVB) Innovators Card, Your Ultimate Guide to Unsecured Business Lines of Credit, 48 Ecommerce Statistics to Know This Year, Calculate Your Payments and Total Cost of Borrowing, Advice and Answers for Small Business Entrepreneurs, No annual, foreign transaction or late fees, No interest because balance is paid in full every month, Unlimited 1.5% cash back on every business purchase, Cash-back balance automatically applied to your monthly Stripe bill, Benefits with some of Stripes partners (e.g., $150 credit for Google Ads, free 6-month Zendesk subscription, 25% off for 12 months of Slack subscription). SVB Innovators Card is aimed squarely at startups. 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. Few lenders want to assume all the risk when it comes to your businesstheyll want you to have some stake. 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 prequalify today, just by answering 8 simple Yes or No questions. Their patented system will analyze your companys spending history and offer advice on where you can cut costs and get a better deal. 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. With a few notable exceptions, Stripe Corporate does not offer any higher tiers of earning on specified categories, such as travel or dining. 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. You can also set employee spending limits and view and edit budgets in real-time & share them via the web or Divvys mobile app. No founder liability. 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. They also numerous SaaS-related rebates that total a whopping $350,000 in savings. There is no revenue requirement nor a personal credit check, as the Bento debit card is very similar to a secured credit card. 1. Few of the business credit cards without personal guarantee requirements weve reviewed compare well to the best business credit cards. 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. - 15 Days Contact Us 15 Days Business Credit Funding Services We're a company with over 15 years in the industry, we are ready to provide you with 100% Reliable Business Loan Consulting. Welcome Offer: see terms for welcome offer details. Bank of America's Business Advantage Unlimited Cash Rewards Secured credit card earns unlimited 1.5% cash back on all purchases. This is just one scoring method and a credit card issuer may use another method when considering your application. With discounts on useful services and integrations with financial software platforms like QuickBooks & Xero, Stripe can help your business grow in the right direction. There are nearly 600 Sams Club locations throughout the United States and Puerto Rico. The approval process is more lenient than traditional lender underwriting requirements. But startups with good or excellent business credit may be able to apply for loans . 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. To qualify for business-only liability, your organization must meet one of these requirements: Otherwise, you may need to provide a personal guarantee. 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. You can earn rewards to an even greater extent if you make an account with the Office Depot rewards membership. This means no credit check requirement for those business owners without solid or established credit. Theres no one best card for every business, and the same holds true with the cards not requiring a personal guarantee. Beyond your businesss stability factor, you may also need to demonstrate consistent spending patterns and an otherwise healthy financial history. 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. Ramp is offering unlimited virtual with support for Apple and Google Pay, as well as custom-branded physical employee cards at no additional cost. To learn more about our rating and review methodology and editorial process, check out our guide on How Forbes Advisor Rates Credit Cards. 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. 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. While the names might not be glamorous, using business credit cards with no personal guarantees will ensure that only your business is liable for money your borrowing and cant pay back. But the relative lack of options without a personal guarantee doesnt mean its impossible. What are Business Credit Cards With No Personal Guarantees? Divvy doesnt seem to care much about bad credit scores, just mainly spending habits. Should the company go out of business or default on the debt, you will have to pay off the balance on the card. 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. EIN-ONLY STARTUP BUSINESS CREDIT CARDS. These include discounts and credits, such as 25% off an annual Slack subscription, three months free with Gusto and Guideline, and $150 in Google Ads credits. The Stripe Corporate Card is still invite-only in the US. Are you personally liable for business credit cards? This means that if you must have a business credit card with no PG, your options will be limited, making it all the more important that you find the card that makes sense for your business needs. If you have equity investors from an accelerator program or an angel/VC investor, this will help you immensely. Youll also get access to spend management, automated bill pay, partner rewards, a mobile app, and much more. 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. Instead of paying interest on what you borrow, youll pay a fixed factor rate. There are no other annual or monthly fees either, and extra employee cards are freely provided. You may also be able to open a secured business credit card account to help build your business credit. 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. But remember, you're personally responsible for the charges on a business credit . If your balance is too low, the transaction simply will be denied. 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. Get 10-20x higher limits than traditional business credit cards while earning rewards and cash back on everything you spend, likeRead More. Earn 2 points per dollar spent towards statement credits, gift cards, travel rewards and merchandise, with no cap. For example, you can get a 25% discount on the annual subscription to Slack, three months free at Gusto and Guideline, and a $150 bonus for Google Ads. Additional rewards options are available for tech, science, and remote companies. This might involve a hard inquiry on the owners credit report. Small business owners risk piercing the corporate veil when mixing personal and business finances. BJ'S Perks World for Business MC - Comenity. Find Loan Options For Your Small Business. Shell business gas cards come with a monthly balance that bears interest, yet, there are no other monthly, annual, or setup fees. 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. Id also recommend looking at our merchant cash advance calculator to understand what different factor rates mean in terms of your borrowing costs. 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. Another option to consider when youre looking to apply for a business credit card with no personal guarantee is Silicon Valley Banks (SVB) Innovators Card, which is designed to be paid in full at the end of each month. If this is in doubt, be sure you block it. EINs are used by businesses, from large companies to sole proprietors, to file taxes. Ramp advertises a larger than average credit limit for businesses. 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.". Office Depot and OfficeMax merged in 2013 when Office Depot purchased OfficeMax, forming one of the largest office supply retail companies in the world. While Bento Spent Limit cards have a 60-day free trial, monthly membership fees start from $29 per month thereafter. 8 Annual fee You can request an invitation online, but there is no guarantee that youll be accepted for the card. 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).