Rewards: Earn 1.5% cash back on every purchase. 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. 8 Annual fee However, people with lower scores might qualify for a secured business credit card or another card designed for borrowers with poor credit. Start earning rewards with your corporate spending today. Conduct informed research before deciding which cards will best help you achieve your financial goals. Free accounting automation. But remember, you're personally responsible for the charges on a business credit . 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. However, this card can be used only for vehicle-related expenses and only at two types of vendors: Shell gas stations and Jiffy Lube. 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. It is designed for startups, especially in the tech and e-commerce industries. 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. Aside from that, they offer unlimited virtual cards and employee cards, and all card payments get reported to the Small Business Financial Exchange (SBFE). 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. When you sign a personal guarantee, you agree to be personally responsible for any debt the business takes on. 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. ASAP EIN Business Credit-No PG Required! Bank of America's Business Advantage Unlimited Cash Rewards Secured credit card earns unlimited 1.5% cash back on all purchases. Should the company go out of business or default on the debt, you will have to pay off the balance on the card. That can even mean suing the cardholder personally to get a judgment. Unless your business has at least $5 million in annual revenue, a minimum of two years of operating history, and more than ten employees, you will not be eligible for this card unless youre willing to sign a PG. The Brex Corporate Card is a charge-type card where your balance is fully due. Stripe makes eligibility decisions based on your payment volume, your history on Stripe, and your bank account history. As such, business credit cards without a personal guarantee are rare. 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. What credit score is needed for a business credit card? NO PG. Yes, you can get a business credit card with bad personal credit. Some business credit cards dont require a personal guarantee. With a Ramp charge card, you can earn 1.5% cash back on all business purchases without having to target rewards categories. 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. You might need to fill out a paper application, but most providers allow you to apply online. Ramp Corporate Card: Best Corporate Card With No Personal Guarantee, 2. Bremer Bank Visa Signature Business Company Card. U.S. Bank Business Leverage Visa Signature Card Earn $750 in rewards Welcome offer Earn $750 in rewards when you spend $7,500 in eligible purchases on the account owner's card within the first 120 days of opening your account. You dont need to have much business financial history nor do you require a personal guarantee. 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. Copyright 2023 Merchant Maverick. 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. Brex is available only for C-corps, S-corps, LLCs, or LLPs organized and registered in the US. You can request an invitation online, but there is no guarantee that youll be accepted for the card. Coronavirus (COVID-19) Guides & Resources, Cant Make Your Credit Card Payments Due To The Coronavirus? Ramp offers a free corporate card for virtually any business. This compensation comes from two main sources. It only works at Office Depot and OfficeMax locations. Your Next Best Options. While Bento Spent Limit cards have a 60-day free trial, monthly membership fees start from $29 per month thereafter. Personal credit scores required to qualify for business credit cards vary depending on both credit card product and issuer. A business credit card can help keep business purchases separate and keep a business bookkeeping compartmentalized. Ramp savings. 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. 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. 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. Brex Cash provided by Brex Treasury LLC, member FINRA and SIPC. 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. At first, they ask for some simple personal and business details like contact information and your Employer Identification Number. You also use your EIN when you open a business bank account or establish a vendor line of . 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. 1. Coast is available for US-based businesses that operate fleets of vehicles. A card like these reduces your personal risk in financing purchases or transacting with the card but wont necessarily eliminate it. You can prequalify today, just by answering 8 simple Yes or No questions. Testimonials may not represent experiences of all clients. The credit is offered without collateral. For new businesses in tech or life sciences industries, you earn special lucrative rewards. If you decide to go this route, check out our article on getting a corporate credit card for tips that can help you succeed. Otherwise, theyll be less-inclined to offer your business a card with strong rewards, excellent benefits and other perks. SVB Innovators Card is aimed squarely at startups. One option is to apply for a secured business credit card with a credit limit equal to the amount of money you deposit into a secured account. Please refer to our Advertising Disclosure to learn more about how we earn compensation from affiliate partnerships and how we maintain our independent editorial integrity. - 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. There is also a 50% cash back offer if you purchase 1Password. You might also consider one of our top business credit cards for borrowers with bad credit if your credit score is a limiting factor in your search for a business credit card. No PG business credit cards offer many advantages - Use the funds to purchase supplies to fulfill orders. Many business credit cards that dont require a PG will have stringent qualification criteria. Through the Employee Retention Tax Credit, the IRS grants eligible employers a credit equal to 70% of qualifying wages per W2 employee, PER quarter. 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. Ramp aims its corporate card at corporations registered in the US. Use your points to pay for travel expenses, redeem them for gift cards, or take them back in cold, hard cash. Divvy doesnt seem to care much about bad credit scores, just mainly spending habits. For your monthly expenses, you get 2% back. Read more below to learn why we chose these options. 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). Business credit cards without personal guarantee requirements can help reduce risk to your personal finances in the event of default, but it wont guarantee an issuer wont be allowed to come after you if it wants to collect. The Ramp Corporate Card sets itself apart by offering a straight 1.5% cash back on all purchases. Limit your personal liability when applying for a business credit card by seeking those without a personal guarantee or credit check. 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. Fast turnaround: as little as 1-2 days. If you have equity investors from an accelerator program or an angel/VC investor, this will help you immensely. 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. The only way it can affect your personal credit is if a card issuer does a hard pull when you apply for the card. 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. Realtime reporting and integrations. Divvy is all about flexibility. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. Are you sure you want to rest your choices? A corporation in business for at least three years with more than $5 million in annual sales. 1. Thats why its important for startups to demonstrate that they have the funding necessary to survive and grow. How To Get Business Credit Cards With An EIN Only. 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 . Credit cards without a personal guarantee are frequently found in a category known as corporate credit cards. Unfortunately, they dont have another system for using your reward points, like for travel or gift cards. Because of this, Revenued offers its services with no personal guarantee or credit score requirements in fact, your credit wont be checked at all.