Unsecured Business Credit Card with No Personal Guarantee?
by Author on Saturday, September 4th, 2010 | 2 Comments
I would like to know the name, or web link, for a specific credit card company that offers unsecured business credit cards with no personal guarantee. It must be a reputable company, of course, as I have read many articles on scam companies that offer this. I really do need a business credit card with no personal guarantee so that I can protect my personal credit and keep it separate from the business credit.
Thanks in advance for any help you can provide!!!
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you will need an EIN number to obtain a business card. another thing if your a sole owner, by law you are responsible for any debt incurred. your personal credit and assets are going to be at stake even with an EIN number.
Establishing corporate credit without a personal guarantee is doable. However, for most new businesses it can take up to a year. In general:
1.Organize your Corporation or LCC with your State
2.Get an EIN from the IRS
3.Separate mailing address (UPS Store)
4.Get three business lines of credit (Dell, Staples, etc).
5.Wait and then apply for a small business credit card.
Some people decide to use personal guarantees when getting started. Just think with your head and be responsible.
I am generally very leery of those selling services to establish corporate credit overnight.
It’s great that you are starting a business.