Keeping business credit off of your personal record —
Small business credit cards require the owner to personally guarantee them.
Secured
small business credit cards require a security deposit, which will be your credit limit.
Most
small business credit cards require a strong credit score, but there are also business credit cards for bad credit too.
It doesn't matter whether you supply an Employer Identification Number (EIN) or a Social Security Number, your personal credit information will be checked, since nearly
all small business credit cards require your personal guarantee of repayment.
The vast majority of
small business credit cards require you to personally guarantee the charges you make — even if the card is issued in your business's name.
Most
small business credit cards require the business owner / cardholder to personally guarantee the debt.
The vast majority of
small business credit cards require you to personally guarantee the charges you make — even if the card is issued in your business's name.
Not exact matches
Most
small business credit cards are approved based on your personal
credit score and
require your personally guarantee to open an account.
Many
credit card issuers
require applicants (
small business owners) to be personally liable for their
small business credit card.
However, the law
requires the Federal Reserve to study
small businesses» use of
credit cards and how those companies are protected from unfair practices — an indication that Congress might consider extending some provisions to
business credit cards in the future.
Travel rewards If your
business requires you or your employees to travel, a travel rewards
small business credit cards may make sense.
Obtaining a corporate
credit account generally involves reviewing the corporation's finances and will
require an EIN (in contrast,
small business credit cards tend to have the option to use your personal Social Security number instead of an EIN).
Using
business credit cards wisely
requires balance — Striking a balance in the use of
small business credit cards is important, experts say.
All the
cards I found that offer rewards for gas purchases — whether fleet
cards or
small business cards —
require excellent
credit.
Obtaining a corporate
credit account generally involves reviewing the corporation's finances and will
require an EIN (in contrast,
small business credit cards tend to have the option to use your personal Social Security number instead of an EIN).
Ultimately, you'll have to decide whether your
business requires enough travel and hotel stays to really rack up points with a hotel - branded
card or if you're better off with a more general
small business credit card.
The financial privacy issues are also partially addressed by the provider's merchant agreement with the
credit card company which contains terms
requiring them to maintain certain kinds of security with respect to your financial information (which is not to say that the provider actually follows all of the requirements of their merchant agreement scrupulously, which is why data breaches happen all the time in
businesses both large and
small).