# true business credit card



## huey642 (Aug 22, 2009)

does anyone know of a "true" business credit card, preferably visa or mc.

i know amex has business cards but not sure if visa or mc do.

i'm not talking about a credit card you can get with your company name on it, i'm talking about a credit card that does NOT show up on your personal credit report. 

I currently have AMEX but that is a pain as they are not accepted everywhere.

thanks,
b


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## Pwear (Mar 7, 2008)

Any card registered under the business shouldn't be associated with your personal credit, given that the business is a proper LLC or corporation.


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## aminaic (Dec 18, 2009)

what about NATWEST business card


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## bakerb24 (May 20, 2009)

Pwear said:


> Any card registered under the business shouldn't be associated with your personal credit, given that the business is a proper LLC or corporation.


Nope. Virtually every card business or personal requires you to sign personally. Even if your business is an LLC or a corporation you WILL sign with a personal guarantee. Even if your name is not on the physical card itself I'm willing to bet that you are on the agreement personally. The banks and card companies have now handcuffed just about all business owners by requiring a personal guarantee. 

If you pull any of those enormous credit card agreements you sign to obtain the cards I would bet 99.9% of them have a personal guarantee.

Do your business a favor. Start slow, buy things with cash and do not borrow money. Check out www dot daveramsey dot com.

Best of luck to you.

BB


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## Pwear (Mar 7, 2008)

bakerb24 said:


> Nope. Virtually every card business or personal requires you to sign personally. Even if your business is an LLC or a corporation you WILL sign with a personal guarantee. Even if your name is not on the physical card itself I'm willing to bet that you are on the agreement personally. The banks and card companies have now handcuffed just about all business owners by requiring a personal guarantee.
> 
> If you pull any of those enormous credit card agreements you sign to obtain the cards I would bet 99.9% of them have a personal guarantee.


Nope  

My cards are business-only, and only tie back to me personally because I'm the authorized representative for my company - my personal credit has absolutely nothing to do with my business, and was not run or accessed when applying for my company checking accounts or credit cards. The credit line that I have is based on past business performance, not personal credit history.


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## Batmite (Dec 11, 2009)

Ben is right on with his advice. Make a sales goals plan, from that you can derive your needs (expenditures) to support that plan. Stay within it and adjust as actual sales start to happen. CC interests will eat you alive.

2 issues a lot of businesses fail at-Having the right inventory at the right time and cash flow.


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## bakerb24 (May 20, 2009)

Pwear said:


> Nope
> 
> My cards are business-only, and only tie back to me personally because I'm the authorized representative for my company - my personal credit has absolutely nothing to do with my business, and was not run or accessed when applying for my company checking accounts or credit cards. The credit line that I have is based on past business performance, not personal credit history.


If that's true you would be one of the very very few. I would double check just to be sure.

BB


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## huey642 (Aug 22, 2009)

hmmmm. to those who think their business card is a business card, I would check your personal credit report. If it shows up on there in any way...it is not a "true" business card.

Like I said, I do have an amex that is my only "true" busienss card. I've had it for many years for my screen and emb business.

I'm just looking for a visa or mc that is the same way.

my credit score is around 800 and I just don't want another credit card to hurt that almost perfect score.

i know initially they have to run your personal credit and that takes a little hit but there is nothing you can do about that.

thanks for all of your replies.

b


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## in2infinity (Dec 8, 2009)

... same goes for almost all business loans and credit lines. I have several and they all show up on my personal credit report. I don't know of a bank that will give you money for a business without personally guaranteeing it. Remember, 99% of small businesses fail within the first 5 years. With those odds, banks would never give out money without a personal guarantee.

Having them on your personal credit report isn't a bad thing ... in fact it can be good - assuming you make your payments. If you don't you'll have big problems either way.


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## Girlzndollz (Oct 3, 2007)

Pwear said:


> Nope
> 
> My cards are business-only, and only tie back to me personally because I'm the authorized representative for my company - my personal credit has absolutely nothing to do with my business, and was not run or accessed when applying for my company checking accounts or credit cards. The credit line that I have is based on past business performance, not personal credit history.


+1 ...............


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## BEHG (Dec 1, 2009)

bakerb24 said:


> Nope. Virtually every card business or personal requires you to sign personally. Even if your business is an LLC or a corporation you WILL sign with a personal guarantee. Even if your name is not on the physical card itself I'm willing to bet that you are on the agreement personally. The banks and card companies have now handcuffed just about all business owners by requiring a personal guarantee.
> 
> If you pull any of those enormous credit card agreements you sign to obtain the cards I would bet 99.9% of them have a personal guarantee.
> 
> ...


 
I agree 100%. I was going to send him to ramsey too!  and to make it even more perfect. My name is Ben too. We are smart guys.


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## frizbeecouk (Feb 5, 2008)

It all depends on if you are actually a Limited company or a sole trader. 

If you sign on behalf of a limited compnay then it will not be associated with yourself as you may not even work for the compnay next month, but they woudl still haev the account.

If you are a sole trader than you are the business and will owe the money, some may not actually show up on your personal profile, but that does not mean you don't legally owe the money.

RBS & Natwest both do a card which is debited in full each month for companies called the one card.

MBNA do a real business card with credit for Ltd companies, but again it will show if you are a sole trader.

Hope this helps


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## yourAlamo (Oct 28, 2007)

The truth is in between what BB & Pwear said.

If you are a 'new' business, or one without much of an existing credit history, then it's most likely your credit line will in some way reflect your personal credit history and report to your score.

If you have an existing business, that has some years of tax returns, profits and credit history, then there should be not much trouble getting a credit card tied to the business only.

--
Now, with our banks in turmoil not wanting to lend to anyone, your results may vary, but it is certainly possible to get it done either way.

In my experience, a smaller, newer business will always have it tied to a person, no matter how profitable. If you are over $1M for a few years, they seem to lighten up.

One thing is sure, commercial banks are very hard to figure out sometimes. Ask your bank SPECIFICALLY about your questions before you sign stuff.


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## Girlzndollz (Oct 3, 2007)

Good point, Alamo. I got my biz card back when money was cheap and people were leaving it on a doorstep for the taking. 

I specifically asked my chosen credit supplier if I had to personally "back up" the card, since the biz was new without a history of it's own. The customer service rep replied with a dull, dry... "Noooo. It will be fine." 

And I thought, heck, wouldn't catch me doing that if I was them! heehee.

Anyway, great point about how extending credit practices can and do vary from lender to lender and are also directly impacted by the current economic situation at the time.

Answers may vary greatly here, based on where and when one opened a credit line.
Thx for ur post.


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