Are there any business credit cards that will let you establish credit without using your personal information?

What people often fail to realize that by personally signing for a credit card it is STILL a personal credit card. The only difference is that the bank says "this is a business credit card" and it is to be used for business purchases.

Consider building up your business credit profile before applying for a real business credit card (a credit card which allows the business to be its own collateral, not you).

A true business credit card is a line of credit that is taken in the name of the business, under the business' credit. Activity, whether good or bad, is reflected on your business' credit report through D&B and other financial institutions, and the liability for any debts incurred and bills owed is with the business.

However, some companies out there offer "business" credit cards which they require a person guarantee for. These institutions will often ask for a personal guarantee, and will almost always ask for a social security number from the person applying for the card. If this is the case, the credit card is not a business credit card, but is simply a personal credit card which is used for the business. The business is not liable for bills and debts - you are.

When applying for a credit card for your business, watch out for areas asking for your SSN (and not your TaxID or EIN) and be wary of any credit card that asks for a personal guarantee. By ensuring that your credit card is in the name of your business, you can help to build your business' credit, while avoiding creating problems with your own.

Many companies offer a list of credit cards that are issued under the business name only. Those lists typically run $300-$900, depending on the quality of the information inquiring. I would suggest starting your search online via google or yahoo.

Type "strong business credit" and see what comes up.

Answer

If your business is a sole prop., you are not going to get a credit card with only your tax id number. Our business has a credit card with our business name on it, however, it shows up on our personal credit report.

If your business is a partnership, your local bank may help you get a credit card using your tax id number. Our local bank here in TN worked with us. Internet offers are no help in this situation.

We also found a service that guarantees to help you get business credit cards using a tax id, but they wanted $1,500 for the service.

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A few credit cards exist that will not show up on personal credit. Those are tied to the business credit which can be build by the services mentioned above. The cost is not $1,500 however.

Business Credit is separate from Personal credit - that is important to remember as a small business owner. Many business owners, just like in this question, have bad credit but that is not to be confused with business credit. Just like Equifax reports credibility of an individual the business has a credit reporting agency that reports on its stability as well. The key is to get your business registered with the credit reporting agency so that lenders can feel confortable issues out loans, credit lines, or extended terms to the business. Bad credit or lack of credit is no longer an obstacle that prevents the small business owner from finding financing or funding their small business. Small business loans are available to those who have incorporated their business, have a corporate tax id and are willing to keep up their business profit and the business credit score.

Staples will

I would like to know that as well. The only thing I have been able to find out is you can pay ($200 or more) for a list of business and credit card companies that will extend credit to a business with no personal guarantee even if the business is new. I have been tempted to pay for that "list" then post it all over the internet.

The only business that I have found that will issue a credit card using the buisness TIN only is Staples.

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Business Credit is separate from Personal credit - that is important to remember as a small business owner. Many business owners, just like in this question, have bad credit but that is not to be confused with business credit. Just like Equifax reports credibility of an individual the business has a credit reporting agency that reports on its stability as well. The key is to get your business registered with the credit reporting agency so that lenders can feel confortable issues out loans, credit lines, or extended terms to the business. Bad credit or lack of credit is no longer an obstacle that prevents the small business owner from finding financing or funding their small business. Small business loans are available to those who have incorporated their business, have a corporate tax id and are willing to keep up their business profit and the business credit score.

A handful of companies help with that online right now, I suggest searching the web. That will allow you to view the companies that help with that service.

First answer by James2009. Last edit by Sdresh. Contributor trust: 874 [recommend contributor]. Question popularity: 4 [recommend question]