With all previous cards mentioned, you need to have good CONSUMER credit to get approved but what if your personal credit isn’t good, and you don’t have a guarantor? This is when BUILDING BUSINESS CREDIT makes a ton of sense even if you have good personal credit, building your business credit helps you get even more money… and without a personal guarantee.
Business credit is credit in a business name, that’s linked to the business’s EIN number… not the owner’s SSN. When done properly, business credit can be obtained with no personal credit check and no personal guarantee… something all other cards mentioned can’t deliver. You can get 3 types of business credit cards. Vendor credit, offers net 20 terms used to start a business credit profile. Store credit, get credit cards with high limits at most stores. Cash and Fleet credit, Visa, MasterCard, Amex cards you can use anywhere. These can be obtained with no credit check or guarantee. Limits are often $5-10 to start, and can exceed $50k.