Tag: personal

How To Get A Business Credit Card With Bad Personal Credit

Key takeaways

  • The best business credit cards on the market today typically require good to excellent credit, or a FICO score of 670 to 850
  • Business owners with bad personal credit might only be able to qualify for a secured business credit card, which requires putting down a security deposit
  • To qualify for an unsecured business credit card, business owners with bad credit will likely need to work on improving their credit first

Although an impressive credit history and a high credit score aren’t requirements to start a business, they are tools in your arsenal that can definitely help launch your success. After all, you may eventually want to borrow money from a financial institution to pay for the costs of a launch, manage ongoing operations and more. With a high credit score and a lengthy credit history in your profile, most lenders will like what they see.

To appeal to a lender, however, your past business credit history will be relevant. If your business has yet to start, you won’t have a business credit profile that can help you qualify for credit products. And lenders may assess your personal creditworthiness to determine qualifications and set terms. This is also where you’ll run into issues if you have bad personal credit due to mistakes you’ve made in the past.

Fortunately, you can overcome the problems associated with bad credit to qualify for a business credit card — and a business loan, since that might be necessary, too.

What credit score is required for a business credit card?

As you begin looking for ways to build business credit, you’ll notice that many business credit cards rely on your personal credit and require a personal guarantee. A personal guarantee ensures that, if your business doesn’t succeed, you are still legally responsible for

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We caught technicians at Best Buy, Mobile Klinik, Canada Computers and others snooping on our personal devices

When you need to drop off your tech devices for a repair, how confident are you that they won’t be snooped on?

CBC’s Marketplace took smartphones and laptops to repair stores across Ontario — including large chains Best Buy and Mobile Klinik — and found that in more than half of the documented cases, technicians accessed intimate photos and private information not relevant to the repair.

Marketplace dropped off devices at 20 stores, ranging from small independent shops to medium-sized chains to larger national chains, after installing monitoring software on the devices. In total, 16 stores were recorded. (At four stores, the tracking software didn’t log anything, or the stores didn’t appear to turn the devices on.)

Technicians at nine stores accessed private data, including one technician who not only viewed photos but copied them onto a USB key.

WATCH | Testing tech repair: Who’s spying on your stuff?

Testing tech repair: who’s spying on you?

Featured VideoWe load up smartphones and laptops with private information to find out if technicians will snoop on our devices. We reveal who looks at our stuff and what you can do to protect your privacy.

“These results are frightening,” said Hassan Khan, associate professor in the school of computer science at the University of Guelph. “It’s looking through information, searching for data on users’ devices, copying data off the device…. it’s as bad as it gets.”

To examine the extent of privacy breaches by technicians at repair stores, Marketplace teamed up with Khan, who had previously done a privacy study on laptop repairs in a number of Ontario stores, which found that many technicians snooped on personal data.

For the Marketplace investigation, Khan, along with graduate students Angela Tran and Brandon Lit, loaded four smartphones and six laptops with the kind of

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How Does A Business Credit Card Affect My Personal Credit Score

Key takeaways

  • Business cards can have an effect on both personal and business credit scores, though not always.
  • Some issuers factor your business card use into your personal utilization rate, payment history or new credit inquiries.
  • Most business card providers require you to sign a personal guarantee if you’re a small business, which means you — and your personal credit score — are on the hook.

The intersection of personal and business credit is a curious one — particularly for small business owners who are just getting off the ground. Before opening up a business credit card, many business owners may wonder, “Does a business credit card affect my personal credit?” The fact is, total separation between your business and personal credit score is wishful thinking.

The specific ways your business credit cards interact with your personal credit vary depending on such factors as your card issuers and financial habits. Here’s how your business credit card use can affect your personal credit score.

How do business credit cards affect your personal credit?

From the moment you open a business credit card, you can start building your business credit — a separate score unique to your business accounts. Much like your personal score, your business credit score rises and falls according to your length of credit history, credit utilization, payment history and other factors determined by the business credit rating agencies. Unlike personal scores, however, business scores are public. And they are graded on a 1-to-100 scale, unlike personal scores, which fall between 300 and 850.

But how does business credit affect personal credit? Activity from some business cards can have an effect on both personal and business credit scores, while others will influence your business score alone. Comb through the details of every business card agreement so you know

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How a business credit card could help your personal credit scores

The right business credit card offers a lot of benefits to a small-business owner. Not only does a business credit card help you earn valuable points and miles, but it also may help you establish a better commercial credit rating for your company.

But will a business credit card help build your personal credit scores? Unfortunately, there is no simple answer to that question. Although your account management is the most important factor in getting or keeping a good credit score, there are a few ways that a business credit card might help improve your personal credit score.

Related: How to build credit

Establish personal credit

Credit cards, business or personal, help you establish or boost your credit rating. Most personal credit cards report account activity monthly to the three major consumer credit reporting agencies — Equifax, TransUnion and Experian.


Business credit cards work a little differently. Most issuers report your account information each month to one or more of the business credit bureaus. These card issuers give you the opportunity to build positive commercial credit when you open an account. Though not necessarily the norm, some issuers of business credit cards also report your account activity to the consumer credit bureaus each month. When you’re smart about how you manage these accounts, business credit cards potentially help you build business and personal credit simultaneously.

Want to know which card issuers report to the consumer credit bureaus, the business credit bureaus, or both? Ask the card issuer about its credit reporting policy or check this guide for help.

Lower personal credit utilization

Here’s where the magic happens, from a personal credit score perspective. Using a business credit card that doesn’t appear on your consumer credit reports might lower your personal credit utilization ratio. This sometimes makes a

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Best Business Credit Cards With No Personal Guarantee In 2023

Key takeaways

  • As a business owner, it’s important to understand what your personal liability is when taking on any kind of debt on behalf of your company.
  • Business credit cards without personal guarantees can offer an appealing level of protection, but getting one isn’t always easy.
  • If you aren’t able to get a business credit card with no personal guarantee, there are several other alternatives that can help you manage your business and personal finances responsibly.

Business credit cards are valuable tools for managing company purchases, and you can come out ahead with the wide variety of rewards and perks many of these accounts offer. However, most business credit cards require a personal guarantee as a condition for opening the account, which makes you personally responsible for all payments and any resulting debt.

Like all lenders, credit card issuers want to mitigate risk. A personal guarantee provides a measure of assurance to the issuer that the cardholder will handle the account as per the agreement. In this way, the guarantee acts as a type of insurance policy; if you fall behind on payments and default on the debt, the credit card issuer can attempt to collect the debt.

If that prospect makes you uneasy, you may want to consider business credit cards with no personal guarantee. Your options will be far more limited and the qualifications will be more stringent, but a few cards like this do exist.

Here’s what you need to know about the best business credit cards currently available that do not require personal guarantees.

Best no-personal-guarantee business credit cards

Here are the best “no PG” business credit cards that are currently available:

SVB Innovators Card: Best for fast-growing companies

Silicon Valley Bank (SVB)  — now a division of First Citizens Bank — offers the SVB Innovators

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Brex Business Card Doesn’t Require a Personal Guarantee

Finding a business credit card that doesn’t require an entrepreneur to personally guarantee the debt is like finding a parking spot at the mall on a rainy Saturday: There are options, but they’re either unappealing or not a fit.

But a company called Brex has created a corporate card for startup companies that rejects traditional underwriting methods. Instead of evaluating applications based on a business owner’s personal credit, it focuses on other numbers: revenue, funding, expenses and size.

NerdWallet Rating 

“It starts with the technology,” says Michael Tannenbaum, chief financial officer of Brex.

Brex says it can issue cards faster, and with higher limits, than other options, all without a personal guarantee. The Brex Card works on the Mastercard network, there are no annual fees or foreign transaction charges, and cardholders can earn rewards.

What makes Brex different?

Brex focuses on emerging or early-stage companies and currently only accepts applications from venture-backed and mid-market companies. Here’s what sets it apart from some other cards in its category:

  • There’s no personal guarantee. A personal guarantee requires an applicant to accept personal liability for a business debt, such as on a credit card. If the business goes belly-up, the creditor can go after the applicant’s personal assets. With the Brex Card, there’s no founder liability if the business isn’t successful.

  • Personal credit scores aren’t a factor. Brex determines the creditworthiness of a business by evaluating its cash flow, spending patterns and financial backing, rather than the applicant’s own credit history.

  • You don’t need to provide a Social Security number. The Brex Card requires a

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Is It Illegal To Use A Business Credit Card For Personal Expenses?

Key takeaways

  • Using a business credit card for personal purchases isn’t technically illegal, but it could violate the terms and conditions of your business credit card agreement, which has consequences
  • Some consequences can include the closure of your account, personal liability, tax implications, more complicated bookkeeping and a negative impact on your personal and business credit
  • If you accidentally charge a personal expense to your business card, notify relevant parties and flag the charge so it’s not included in your business accounting

Business credit cards are great tools for dealing with all of the ongoing expenses involved in running a business: supplies to purchase, vendors to pay and operational costs to handle.

Sometimes, in the hustle of trying to take care of things, the lines between business life and personal life can get blurred. So, what happens if you take care of some personal shopping on your business credit card?

Technically, putting your personal purchases on your business credit card isn’t illegal. But making personal purchases on a business credit card likely violates the terms and conditions of your card agreement, which can have some serious consequences. As a general rule, it’s best to keep personal and business expenses separate.

Here’s what you need to know about personal expenses on a business credit card and what to do if you accidentally charge a non-business purchase on your business card.

Consequences of using your business card for personal expenses

Getting a business credit card can often be easier than getting a consumer credit card. Even if your business isn’t registered or completely up and running yet, you can still qualify for a business credit card. This may make it tempting to use a business credit card for all of your expenses. However, it’s important to only charge business expenses on a

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5 Best Business Credit Cards With No Personal Guarantee

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. But if limiting personal liability is your priority, here are our picks for cards without a guarantee.

Best business cards with no personal guarantee

The following business cards do not require a personal guarantee, provided you meet other requirements, including revenue and minimum years in business. Most of these cards are available to only incorporated businesses, leaving few options for sole proprietors. 

Ramp Card

NerdWallet rating 

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Best overall business card with no personal guarantee

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. If you can meet Ramp’s requirements, you’ll get unlimited cash-back rewards and card-level spending controls with no annual fee. 

Ramp is a charge card, so you can’t carry a balance. Instead, anything you charge is automatically debited from your business account on the same day each month. Read our review.

Rewards: Earn unlimited 1.5% cash back on all purchases.

Additional perks: Spending controls, forecasting

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8 Business Credit Cards With No Personal Guarantee Required in 2023

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For any small business owner looking to separate personal liability from their company’s finances, obtaining a business credit card without a personal guarantee can be valuable. In this article, we’ll look at eight options that offer the convenience and flexibility of credit while protecting the business owner’s personal assets from potential financial setbacks. Let’s begin!

What Is a Personal Guarantee for a Business Credit Card?

When business credit card issuers require a personal guarantee, it means that the business owner is personally responsible for paying back any debts incurred by the card.

This guarantee is often required when a business has not yet established its own creditworthiness, and the issuer wants to ensure that it will be repaid. If you’re just establishing your credit, read about what are business credit cards and how can small businesses use them here.

The personal guarantee ties the business owner’s personal credit reports to the card, so if the business fails to make payments, it can negatively impact their personal credit scores.

business credit cards with no personal guarantee

Best Business Credit Cards Without a Personal Guarantee

Finding the right business credit card can be tough, especially when a credit card issuer requires a personal guarantee. Here are some of the best small business credit cards without a personal guarantee.

1. Sam’s Club Business Mastercard

Businesses incorporated for at least two years and earning a minimum of $5 million in yearly revenue can apply for this card without a personal guarantee. The card comes with a $0 annual fee and rewards on gas, dining, and other Sam’s club purchases. New accounts can receive a $30 statement credit. The rewards are earned as Sam’s Cash but can only be redeemed at Sam’s Club.

2. Stripe

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How Can a Enterprise in China Lawfully Obtain Employee Personal Details?

With the Data Protection Law of the PRC and the Own Info Security Legislation of the PRC (the PIPL) coming into impact, several companies have began to have out compliance audit within just their entities to make positive the assortment, use, and processing of their employees’ individual info is compliant with the regulations. This short article will look at how providers can collect employees’ particular details even though being lawfully compliant.

Frequent situations in which a firm collects personalized data from its worker

When enterprises perform HR administration as part of the day by day enterprise procedure, they have to have to collect a lot of individual information and facts from their workforce. Below we introduce some common eventualities.

When selecting an staff

Candidates who apply for a occupation to the firm or new workforce who have just joined the business are typically needed to fill in a composed Applicant Data Registration Form or Entry Info Registration Type.

The personalized information and facts normally collected in these types of kinds features:

  • Simple particular info, these types of as peak, excess weight, ethnicity, political position, marital position, well being status, instructional background, house handle, get in touch with info, ID card range, and so forth.
  • Academic facts, this kind of as college, significant, certificates, and so forth.
  • Operate encounter information and facts, this sort of as previous employer(s), placement, career obligations, time, usual job, crucial achievements, factors for leaving, reference, and so forth.
  • Faith, particular pursuits, and so on.

Unique work in distinct industries with large community well being and safety requirements may possibly additional need personnel to present a record of an infection and heal of infectious health conditions, such as:

  • Positions in foods manufacturing and distribution industries that deal with foods right
  • Work opportunities that require in ingesting drinking
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