Check Out These Business Credit Cards With No Personal Guarantee

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Check Out These Business Credit Cards With No Personal Guarantee

Business credit cards with no personal guarantee are always helpful. This is because they help you separate your business liabilities from your personal liabilities. Basically, there are no personal guarantees with this card. This helps it to provide protection to the cardholder.

However, getting such a card is not easy, as it requires a high credit score. Apart from that, you will also need to pay high APRs for the cards. Hence, to learn more about such business cards with no personal guarantee read on through to the end of the article.

Contents

Business Credit Cards With No Personal Guarantee: A General Overview

Business Credit Cards With No Personal Guarantee_ A General Overview

According to Forbes Advisor,

Many business credit cards require a personal guarantee that the 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. For those who don’t want to risk personal liability, there are credit cards and accounts without personal guarantee requirements.”

If you try to get business cards, you will see that most of them require a personal guarantee. This is because they help creditors to go after your personal finances if you somehow fail to pay your debt. However, many people do not want to take that risk. Hence, they want to look for business cards that do not have a personal guarantee.

However, these cards have their own limitations. One of the biggest limitations is that you will not be able to carry a balance or maximize your rewards. Apart from that, these business cards also come with high APRs, which you need to pay. In addition to that, you will also be able to

Top Business Credit Cards With No Personal Guarantee

According to Nerdwallet.com,

The vast majority of business credit cards require a personal guarantee, which allows creditors to go after your personal finances to recoup unpaid debt. If that’s a risk you aren’t willing to take, a few business cards are available without a personal guarantee. These cards come with their own tradeoffs — you may not be able to carry a balance or maximize rewards, for instance. Consider other business credit cards for those perks.”

The following are the best business cards with no personal guarantee:

1. Brex 30 Card

Brex 30 Card-business credit cards with no personal guarantee

This company sets the credit limit of all its cards based on cash flow. Hence, they are able to offer no personal guarantee. However, if you want to become eligible, you will get your card based on your spending patterns.

Annual Fee$0
Welcome Bonus10,000 points
Regular APRNot Available
Required Credit ScoreNo Credit Check
ProsThere are certain spending categories where you can get generous rewardsNo personal guarantee requirement
ConsInability to carry a card balance

2. Ramp Corporate Card

Ramp Corporate Card

Nerdwallet states –

The Ramp Card is easier to obtain than other business cards available without a personal guarantee — you don’t need professional funding, for example, or several million in annual revenue. But the cash-on-hand requirements are still steep: You need at least $75,000 in a business bank account to qualify.

However, you will need to pay your balance every month if you want to use this card.

Annual Fee$0
Welcome BonusNot Available
Regular APRNot Available
Required Credit ScoreExcellent Credit (750 – 850)
ProsNo annual fee requiredThe Ramp software can find out spending redundancies
ConsA sole proprietor cannot apply for the cardYou cannot carry a balance if it is a charge cardVarious travel and lifestyle perks are not available.

3. The Stripe Corporate Card

You will need to have a Stripe account if you want to apply. The card is only available through invitation. The best part is that there are no annual fees, no late fees, and no foreign transaction fees. Furthermore, you will also have access to dynamic credit limits and simple rewards, which you can use to grow your business.

Annual Fee$0
Welcome BonusNot Available
Regular APRNot Available
Required Credit ScoreGood/Excellent (700 – 749)
ProsThere is cashback available for various purchasesYou can customize the cardThere are no annual fees, foreign transaction fees, and late fees
ConsThere are no welcome bonuses

4. Office Depot Business Credit Account

Office Depot Business Credit Account

This is a closed-loop card. Hence, this card only works at Office Depot and OfficeMax locations. The best part is that you will have access to rewards. Furthermore, there is also a welcome bonus on availing the card.

Annual Fee$0
Welcome Bonus$50
Regular APR20.80% – 29.99% variable
Required Credit ScoreGood/Excellent (700 – 749)
ProsYou can save $50 on your first $150 purchase within 60 days after you open your accountNo annual feeFlexible payment optionsVarious offers and perks
ConsHigh APR

5. Sam’s Club Business Mastercard

Sam’s Club Business Mastercard

If you go to Sam’s Club on a regular basis, this is one of the best business cards you can use. You will also be able to earn 5% per dollar spent on Sam’s cash on gas purchases

Annual Fee$0
Welcome BonusNot Available
Regular APR20.65% or 28.65% variable
Required Credit ScoreGood/Excellent (700 – 749)
ProsYou will be able to earn 5% per dollar spent on Sam’s cash on gas purchasesOther perks on the basis of dining or takeout.No annual fees
ConsAbsence of welcome bonuses

Wrapping Up

Hope this article was helpful in choosing the best business cards with no personal guarantee. However, before you choose the best card for yourself, consider getting enough details of each of these cards. You can do so by visiting each of their websites. After you choose the right one, you will be able to reduce the risk of your personal finances.

Since there are no requirements for a personal guarantee, there are no worries. However, it does not mean that the loan issuer will not come to collect the money. Hence, make your choices after thinking about it multiple times. Do you have more information to offer? Share your thoughts and ideas with us in the comments section below.

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