Top 6 Best Business Credit Cards With No Personal Guarantee
Discover how most small Business Credit lack the option to offer their assets as collateral for a line of credit, leaving the business owner or executive as the guarantor for credit card balance payments. Learn about personal guarantees (PG) and how they obligate the owner or executive to repay the card balance using personal funds if the business is unable to pay. Keep in mind that taking a PG might result in a hard inquiry on the owner’s credit report, and explore the options available for securing business credit without putting personal assets at risk.
1. Stripe Corporate Visa Card
Discover how the Stripe Corporate Visa Card provides a hassle-free application process for businesses with existing Stripe accounts, enabling them to receive payments online. The no-PG business credit card offers a seamless virtual card setup with no paperwork required. Stripe guarantees fast activation, allowing businesses to be up and running with a virtual card within minutes of approval, streamlining their payment processes.
Although the Stripe Corporate Visa Card offers a straightforward application process, businesses should not anticipate a substantial line of credit if they apply immediately after creating their Stripe account. The credit limit is based on your payment processing and bank history, which will expand as your business develops and payment volume increases. Moreover, the exclusive Stripe Corporate Card is invite-only, and while you can request an invitation online, acceptance is not guaranteed.
Features of the Stripe Corporate Visa Card
- No annual, foreign transaction or late fees
- No interest because balance is paid in full every month
- Unlimited 1.5% cash back on every business purchase
- Cash-back balance automatically applied to your monthly Stripe bill
- Benefits with some of Stripe’s partners (e.g., $150 credit for Google Ads, free 6-month Zendesk subscription, 25% off for 12 months of Slack subscription)
2. Silicon Valley Bank Innovators Card
Explore the Silicon Valley Bank’s (SVB) Innovators Card as a viable alternative for a no-PG business credit card. The card is structured to be paid in full monthly, eliminating interest charges, making it a cost-effective option. As an SVB banking client, you can conveniently apply online to open an account and be considered for the Innovators Card, offering a hassle-free experience for businesses seeking a reliable payment solution.
Features of Silicon Valley Bank Innovators Card
- No interest charges
- No personal liability
- No annual or employee cards fees
- Earn 2 points per dollar spent towards statement credits, gift cards, travel rewards and merchandise, with no cap. Points add up faster when all your employees’ purchases roll up into a single rewards account.
- Credit line increases available as your business needs change
- Integration with digital payments and spend management tools, such as Intuit Quickbooks and Expensify
3. Brex Corporate Card
Discover the Brex Inc., a San Francisco-based financial services and technology company catering to startups and tech firms by offering credit cards and money management accounts. Among the available no-PG business credit cards, the Brex Corporate Card, backed by the Mastercard network, is a competitive option to consider for your business credit needs.
Features of the Brex Corporate Card
- No annual fees
- No foreign transaction fees
- Higher-than-average credit limits
- Approval isn’t dependent upon credit scores or a security deposit
- 2 business credit card with no PG options:
- Credit card paid daily: for companies of any size, no minimum balance
- Credit card paid monthly: for eligible companies that meet certain size and revenue criteria
- Up to 7-8 times rewards points, depending on card selected
- Both cards report your payments to credit bureaus to help build your business credit
4. Sam’s Club Business Mastercard
Explore Sam’s Club, the exclusive retail warehouse that provides members with discounted bulk purchases of regular use items, as well as business supplies. With almost 600 locations throughout the United States and Puerto Rico, Sam’s Club caters to both consumers and businesses. As part of our no-PG business credit card list, the Sam’s Club card offers a viable option, accepted wherever Mastercard is recognized, ensuring maximum flexibility for businesses looking for a reliable credit solution.
When applying for a no-PG account, specific requirements must be met. As per the application form, businesses must fulfill the following criteria to qualify: annual sales revenues exceeding $5 million, operational for more than two years, and have ten or more employees. However, for partnerships and sole proprietorships, a personal guarantee is necessary to apply for the card, ensuring a seamless application process for businesses that meet the eligibility requirements.
Features of the Sam’s Club Business Mastercard
- Can be used outside of Sam’s Club stores
- 5% cash back on eligible gas purchases on the first $6,000 spent, 3% cash back on dining and travel and 1% cash back on other purchases
- No annual fees
- Authorized users can be added to your account for free
- Card is exclusive to Sam’s Club members and doubles as your membership card when you shop at Sam’s Club
- Variable annual percentage rate of either 15.90% or 23.90%
5. Office Depot OfficeMax Business Credit Account
The merger of Office Depot and OfficeMax in 2013 created one of the largest office supply retailers globally. The Office Depot OfficeMax Business Credit Account is an option to consider for a no-PG business credit card that comes with a card; however, it operates differently than a standard credit card. The card can only be used at Office Depot and OfficeMax stores, providing exclusive access to discounts and other benefits to business owners.
Features of the Office Depot OfficeMax Business Credit Account
- No annual fee
- Save $50 on your first purchase of $150 or more
- Monthly detailed statements
- Free additional cards for other people at your business
- Variable APR for purchases of 23.99%
6. Shell Small Business Card
Royal Dutch Shell, an oil and gas giant best known for its signature shell logo gas stations, offers the Shell Small Business Card, which does not require a personal guarantee. This small business credit card is exclusive to Shell gas stations, providing business owners with a convenient payment method and potential savings on fuel and other purchases.
Features of the Shell Small Business Card
- No monthly or annual fees
- Balance doesn’t have to be paid in full at the end of the month
- Rebates of up to 6 cents per gallon
- Discounts on certain preventative maintenance services at participating Jiffy Lube locations
How Do You Apply for a Credit Card with No Personal Guarantee?
Are you looking for a business credit card without a personal guarantee? The first step is to check the card’s eligibility requirements, which may be available online or by contacting the provider.
Once you confirm that your business meets the criteria, you can complete and submit the application. While paper applications are still an option, many providers offer online applications. After submitting your application, some providers may approve you in just minutes, allowing you to start using your new card right away.
Why Are Business Credit Cards with No Personal Guarantee Scarce?
Business credit card issuers face a significant risk due to the high rate of business failure. To mitigate their risk, most issuers require individuals within the business to personally guarantee that they will pay off the credit account balance in full, even if the business fails. Therefore, business credit cards without a personal guarantee are uncommon. Moreover, many available cards have limitations on their usage, such as being restricted to specific types of purchases or single retail locations, like gas stations or supply stores.
Access a considerable line of credit without putting your personal finances in danger by qualifying for a business credit card without a personal guarantee. Even if your card is only limited to specific types of purchases or single retail locations, you can still reap the benefits of exclusive perks offered by the retailers your business uses most frequently.