Small Business Credit Card With No Personal Guarantee

If you choose to get a business credit card to fund your business anyway check with the card issuer before you apply so you understand what if any information gets reported on your.

Small business credit card with no personal guarantee. Small business credit cards without a personal guarantee are very rare. This is why some small business owners search for a business card that requires no personal guarantee but options are very limited. Large corporations with tens of. The baddish news there are over 500 distinct business credit cards around but less than fifty of them grant credit to companies in the absence of a personal guarantee.

While not on every business credit card personal gaurantees are quite common especially for small business owners with either a short time in operation or minimal business assets. Accepting a personal guarantee opens up your business credit card options. After all no one wants to issue a credit card and then get stuck with the debt if the business fails. A representative of the company almost always has to agree to personally pay any balances the business cannot.

Entrepreneurs should be realistic and understand that this probably is going to be a requirement detweiler says. Top business credit cards with no personal guarantee as previously stated most business credit cards that don t require a personal guarantee are issued by stores instead of banks. A personal guarantee also referred to as personal liability is a legal promise made by a business owner or an organization to personally accept the responsibility to repay the credit issued to their business in case it fails to. None of the major credit card issuers offer business credit cards with no personal guarantee.

Bottom line the idea of signing a personal guarantee can be daunting especially if you don t know if your business is going to survive. Only about half of new. Although it s technically possible to get a business credit card without the personal guarantee this agreement shouldn t be a deal breaker especially if you re confident in your company s future. Rest assured that when you do try to get business credit and have difficulty you are going through the same troubles that.

Nonetheless there may be an option out there that makes sense for your business. But after your long quest you were unable to acquire any kind of a small business credit card without a personal guarantee. Admittedly getting business credit without a personal guarantee isn t easy but it can be done. Within the first year of business roughly 20 of new small businesses will fail.

But it s hard to escape when it comes to business credit cards. The following article features some of our top picks for the best business credit cards with and without a personal guarantee but first a little background on the issue of personal guarantees and small businesses.