{"id":6099,"date":"2024-10-10T02:34:05","date_gmt":"2024-10-10T02:34:05","guid":{"rendered":"https:\/\/finderica.com\/can-you-get-business-credit-cards-with-no-personal-credit-checks\/"},"modified":"2024-10-10T02:34:05","modified_gmt":"2024-10-10T02:34:05","slug":"can-you-get-business-credit-cards-with-no-personal-credit-checks","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=6099","title":{"rendered":"Can You Get Business Credit Cards With No Personal Credit Checks?"},"content":{"rendered":"
\n

Yes, acquiring startup business credit cards with no personal credit checks is absolutely a thing. However, there are a few hoops through which a budding entrepreneur must jump through to accomplish this feat.\u00a0\u00a0<\/p>\n

Here are some options to consider in order to make it happen for your business.\u00a0\u00a0<\/p>\n

Find a Credit Partner<\/h2>\n

Working with someone who has an established credit history can be a good approach to this concern. Maybe your business partner is in better shape credit-wise. Sharing a card for which that person can qualify is a good way to get credit cards for your new businesses without creditors checking your personal credit history.\u00a0 Your partner applies for the card and adds you as an authorized user<\/a> in this scenario.\u00a0\u00a0<\/p>\n

The benefits of this approach include:\u00a0<\/h3>\n

\u2022\u202fGetting the card you need to conduct business transactions\u00a0<\/p>\n

\u2022 Personal credit score will benefit\u00a0\u00a0\u00a0<\/p>\n

\u2022 You may get more favorable credit terms\u00a0<\/p>\n

The downsides include:\u00a0<\/h3>\n

\u2022 You could lose the card if your partner leaves the business.\u00a0<\/p>\n

\u2022 Both of you will be responsible for debts incurred, regardless of who made them.\u00a0<\/p>\n

\u2022 You may have to answer to the primary cardholder for purchases.\u00a0<\/p>\n

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People Also Read<\/h3>\n
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Have Payments Recorded by Credit Bureaus<\/strong>\u00a0<\/h2>\n

Every business has certain fixed expenses, such as rent if you\u2019re in a facility you don\u2019t own. Getting the property owner to register with RentTrack<\/a> will have your rent payment reported to Equifax, Experian, and TransUnion.\u00a0\u00a0<\/p>\n

The benefit of this approach:\u00a0<\/h3>\n

The opportunity to build a positive credit history for your business, assuming you always pay your rent on time \u2014 of course\u00a0\u00a0<\/p>\n

The downside of this approach:\u00a0<\/h3>\n

The time required to establish history to qualify your business for a credit card<\/p>\n

Get a Secured Credit Card<\/strong>\u00a0<\/h2>\n

Limited only by the amount you\u2019re willing to place as a deposit, a secured credit card<\/a> is backed by the money you provide the card issuer as collateral. The financial institution will then have the right to use those funds to satisfy any outstanding balances should you fail to meet the stipulations of the cardholder agreement. The deposit will be returned after a prescribed period of time, as long as the account is maintained in good standing.\u00a0\u00a0<\/p>\n

Otherwise, a secured credit card functions just like any other card. You can make purchases up to the card\u2019s limit, which is governed by the amount of your deposit. Your activity with this card will be reported to the credit bureaus, which can help your fledgling enterprise develop a credit history.\u00a0\u00a0<\/p>\n

The benefits of this approach include:<\/h3>\n

\u2022\u202fThe opportunity to build a credit history\u00a0<\/p>\n

\u2022 Security deposit is returned after a certain amount of time\u00a0<\/p>\n

\u2022 Potential to earn points toward rewards\u00a0<\/p>\n

\u2022 Ease of approval\u00a0<\/p>\n

The downsides include:\u00a0<\/h3>\n

\u2022 Spending is limited by the size of your deposit\u00a0<\/p>\n

\u2022 Some secured cards impose maintenance fees and annual fees\u00a0<\/p>\n

\u2022 Interest rate is likely to be high\u00a0<\/p>\n

In Summary<\/strong>\u00a0<\/h2>\n

You can get business credit cards without a personal credit check by using one of the approaches above. As noted, each strategy has its pros and cons, so you\u2019ll need to decide which tactic is most conducive to setting your company up for success.\u00a0<\/p>\n

\u00a0<\/h3>\n<\/div>\n
\n\t\t\t\tContent Disclaimer: <\/span><\/p>\n

The content provided is intended for informational purposes only. Estimates or statements contained within may be based on prior results or from third parties. The views expressed in these materials are those of the author and may not reflect the view of SmartSpending. We make no guarantees that the information contained on this site will be accurate or applicable and results may vary depending on individual situations. Contact a financial and\/or tax professional regarding your specific financial and tax situation. Please visit our terms of service for full terms governing the use this site.<\/p>\n<\/p><\/div>\n

Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Yes, acquiring startup business credit cards with no personal credit checks is absolutely a thing. However, there are a few hoops through which a budding entrepreneur must jump through to accomplish this feat.\u00a0\u00a0 Here are some options to consider in order to make it happen for your business.\u00a0\u00a0 Find a Credit Partner Working with someone<\/p>\n","protected":false},"author":1,"featured_media":6100,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[221],"tags":[183,420,785,238,239],"class_list":{"0":"post-6099","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-debt","8":"tag-business","9":"tag-cards","10":"tag-checks","11":"tag-credit","12":"tag-personal"},"_links":{"self":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/6099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6099"}],"version-history":[{"count":0,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/6099\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/media\/6100"}],"wp:attachment":[{"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}