Credit Suite Reviews: Is It Legit?

Credit Suite is a company that streamlines the credit-building processes by providing business owners with step-by-step guidance and resources to boost their credit scores, helping them find funding, and enabling them to access more opportunities. 

We look more closely at Credit Suite and what user reviews say to help you make an informed decision about them. 

What Is Credit Suite?

Founded in 2014, Credit Suite is a company dedicated to helping entrepreneurs and small businesses navigate cash financing problems. 

How?

Credit Suite offers two main solutions: the Credit Suite Fundability System and its own financial products. 

The Fundability System is a comprehensive software solution designed to guide entrepreneurs and small businesses through the business financing landscape. 

Meanwhile, Credit Suite’s financial products offer funding directly to you.

We’ll cover each of these in length in the sections below. 

How the Credit Suite Fundability Program Works

The Credit Suite Fundability System is a software solution that acts as the backbone of Credit Suite.

The Credit Suite Fundability program works by:

• Helping You Understand Fundability: It’s frustrating when you don’t know why you’re being declined by lenders and vendors. Credit Suite’s Fundability System helps you understand the “why” behind your rejections. Then, it gives you the support needed to address those problems so you can tap into more funding with ease. This bolsters your business credit profile so you can make real strides. 
• Identifying and Connecting You With Lenders and Other Funding Sources: Credit Suite features a comprehensive list of over 1,000 lenders and other credit sources. More than that, they help you find funding that you are already pre-approved for. This makes it easier to access funding, build your business credit score with each major business credit bureau, and establish credit history. They’ll help you find the right financial institution or lender that will say yes. With time, you’ll see a greater credit limit and funding.
• Providing You With Step-by-Step Guidance and Extensive Resources/Support: The Credit Suite team provides you with step-by-step guidance as you work toward building your credit and accessing funding. Their extensive list of resources and customer support makes it easy to learn, grow, and get the help you need as you navigate business financing. Additional features like controlling what data lenders see are an added bonus. Business finance can be complex, but they simplify it.

So, what do users of the Fundability System have to say? Here are a few Credit Suite reviews from clients featured on their website. 

“My name is Junius Bennett. I am the CEO of Nu Life Veterans LLC. My experience with Credit Suite has been amazing… I enrolled into that service in 2021, and they had a straight a suite of advisors to help me get my credit, Fundability, credibility, and everything together. And once I did that, oh man, the sky’s the limit.” - Junius Bennett

“Hi I’m Pam Cappucio with Credit Create. I’m here to tell you I’ve been an entrepreneur since about 1992. And then I thought I was a retired entrepreneur which that was very nice for some time. However,  when the market crashed I needed help… and I became a partner of Credit Suite. Let me tell you that was probably the best thing I ever did because that training is unbelievable. You cannot ask for one more thing. Really I can’t think of one thing that I could ask them to do.” - Pam Cappucio

Credit Suite Financial Products

Credit Line Hybrid

Credit Suite is most known for its Fundability System. However, it has a few financial products worth looking into if you need to fund your business. 

The first is the Credit Line Hybrid. The Credit Line Hybrid is a “no-doc” credit line designed for business owners who have good personal credit but no revenue or time in business. 

The Credit Line Hybrid can get you approved for as much as $150,000. You can also tap into terms like 0% interest for 6 to 18 months. 

It requires no income or assets and no collateral on your part. 

All you have to do is:

• Make Sure You Qualify: You or a credit partner with at least 10% ownership need a 680+ credit score across the three major credit bureaus (personal, not from a business credit report) and two open credit card accounts with two (or more) years of history and at least a $5,000 limit. Good personal financial health is a must. You must also have no history of late payments and charge-offs, under 40% utilization, less than three unsecured accounts opened in the past three months, no more than four inquiries in the past year, and no bankruptcies, collections, leans, or judgments on your credit report. 
• Complete a Consultation: Fill out the form for a consultation.
• Wait for Approval: Wait to see if you pass the credit check and are pre-qualified.
• Meet With Credit Hybrid Line Advisors: Meet with advisors to discuss funding terms.
• Get Your Funding: Get the cash infusion your business needs. 

Cash Flow Financing

Cash Flow financing is an effective way for those with business revenue but below-average credit to get the funding they need. 

This can be common for businesses that are off the ground but unable to secure funding. It’s also why your personal credit score is often crucial to business credit.

Credit Suite can help you find the right business loan options with ease. You simply tell them your business information (credit score, business revenue, acceptable collateral). Then, they’ll work with you to identify viable funding sources. 

If you’re looking to learn more about business funding sources for your business and qualification requirements, take a look at their comprehensive resource on small business loans. They’ll help you learn more about business credit cards, credit union loan options, and beyond.

How Quickly Can Credit Suite Help You Get Financing?

Credit Suite can help you build credit almost immediately. However, it’s a process that comes in stages. 

The first thing that you’ll be able to qualify for right away is vendor credit. Vendor credit is easily accessible and will help you start building business credit. 

After 60 to 90 days of utilizing business credit and making on-time payments, you can move on to store credit. This store credit can be accessed without a personal credit check or guarantee. 

By six months, you should be able to get $50,000 in credit from Visa and MasterCard accounts. Then, you can expect to tap into $100,000 or more within a year or two. 

Credit Suite facilitates this progress, allowing you to reach all of the above goals. As long as you stick to their guidance, you can get financing quite rapidly!

Who Is a Good Fit for Credit Suite (And Who Isn't)

It’s important to know if Credit Suite is right for you before you sign up. 

Credit Suite is an excellent resource for business owners wanting to build business credit seamlessly. 

It’s designed for those who may not know what to do or what to look for. Perhaps you can’t find the right business credit builder loan or companies that help build business credit. 

In this case, Credit Suite is a company that will help you tap into funding faster. It gives you the step-by-step support you need to see real results. Most business credit builders may not offer that. 

Who isn’t it for? Credit Suite is not the best fit for those who haven’t seriously established their business yet. 

The Fundability System will cost you $497/month for eight months or $2,997 all at once. If you’re not committed to your business or have yet to fully form it, that’s a lot of money to dedicate to building business credit. 

You don’t want to go into debt and sacrifice financial stability before you get started.

If you’re a serious business owner who needs help with funding and building credit, Credit Suite is for you. If you’ve yet to fully dedicate yourself to your business or credit monitoring and building, it’s best to wait until the need arises. 

Build Business Credit with eCredable

As stated above, a vendor tradeline is an excellent way to build credit. 

Here at eCredable, that’s just what we help you do. 

We report our subscriptions as a tradeline to the top three major business credit bureaus: Dun & Bradstreet, Equifax Business, and Experian Business. Then, we report your third-party bills to Equifax Business. 

These additional trade lines help you establish payment history and build your credit score faster. 

You can choose between the following business credit builder options:

• Business Lift: This subscription offers all of the above with a low $19.95 monthly payment. 
• Business Lift+: Get business credit-building support and additional financial insights at just $39.95 a month. 

Ready to boost your business credit and improve your funding opportunities? Get started with an eCredable Business subscription today!

Startup Business Loans with Bad Credit

Having strong business credit is vital to securing business funding. It helps get your foot in the door with lenders, secure favorable credit terms and interest rates, and fuel the overall growth of your company. 

But can you get business credit with bad personal credit?

Yes. Below we’ll highlight startup business loans that accept bad credit and can help you overcome poor credit. 

Note that you’ll need business revenue to qualify for financing if you have bad personal credit and a low amount of time in business. But these are all realistic ways to get business financing even with a bad credit score. 

5 Startup Business Loans with Bad Credit

1. Invoice Financing

One of the biggest cash flow hindrances for many businesses is lengthy payment terms. For instance, it’s common for many companies to give their customers 30 days to pay an invoice. But there are many cases where it’s much longer at 60, 90, or even 120 days. 

Waiting a long time to get paid like this limits the amount of cash flow you can pump back into your business, which isn’t ideal for growth. 

That’s where invoice financing comes in. With this type of alternative financing, you submit an unpaid invoice to a lender, who gives you an advance (typically up to 90% of the invoice). 

Once you get paid by your customer, you then repay the advance, plus any fees and interest agreed upon in the loan term (1% to 5% is the norm). In turn, you can keep the money flowing without being limited by slow-paying customers. 

Best of all, most business owners with bad credit can qualify for invoice financing. There’s no personal credit check or minimum credit score, so you shouldn’t be held back even if you have poor credit.

2. Cash Flow Loans

A cash flow small business loan works just like it sounds. A lender gives you a loan amount to cover day-to-day business expenses as long as you agree to repay it along with fees and interest. 

Cash flow loans can vary significantly, so the interest rates will also vary, with some being as low as 10% and others going all the way up to 90%! 

Because of the potential for steep interest, it’s important that you fully understand the terms and conditions of this bad credit business loan and promptly repay the loan amount. 

The good thing is that a lender usually looks at your projected future cash flow instead of your credit history. 

And they’re much less stringent with your minimum credit score. This makes this type of startup business loan a logical choice for those with bad credit who don’t want to deal with a credit check. 

Also, be aware that merchant cash advances are similar to cash flow loans. But rather than repaying a lump sum, you pay back a portion of your credit and debit sales. As for the minimum credit score, it’s usually somewhere between 500 - 600. 

So this may be another bad credit business loan option to consider as well if you have bad credit. 

3. Equipment Financing

Equipment like machinery, computers, and vehicles are critical to the operations of many businesses. But because of their high cost, it’s not always feasible to purchase them outright. 

With equipment financing, you can get equipment through a startup business loan where you pay in installments rather than all at once. That way, you have the equipment necessary to meet your business needs and can accelerate growth without taking on big debt. 

Instead, you repay it over time with interest until you eventually own the equipment. 

Like the other startup business loan options on this list, most lenders are okay with a minimum credit score. That’s mainly because the equipment itself serves as collateral rather than your credit score. 

So if you’re unable to repay a lender, they’ll simply repossess the equipment to recoup their losses. Just note that if this happens, it can damage your credit score even more. That’s why you should be confident that you can always make business loan payments on time.

4. Corporate Credit Cards

First, note that corporate credit cards aren’t usually as lax with minimum credit score requirements as the other business loan options on this list. That said, it’s often easier to secure a corporate credit card than it is with many other types of startup loans and business financing. 

If you have cash flow and a little business credit, the chances are good that you’ll qualify for at least one corporate credit card. Because many lenders that offer corporate credit cards look at your business’s revenue, performance, and trajectory rather than purely at your credit score.

This form of financing tends to be more attainable than going after a traditional business loan through a bank or credit union that looks heavily at minimum credit score.

One example is the BILL Divvy Corporate Card, which has fairly flexible underwriting terms. While the lender doesn’t openly state the exact minimum credit score needed to qualify, having a fair personal credit score of 650 should be sufficient. 

Another is the Ramp Visa Corporate Card. Instead of looking at your personal credit score, this lender requires a minimum balance of $25,000 in your business bank account. If you have that, this should be a viable loan option, even with bad credit. 

5. Online Lenders

While this isn’t a loan in the conventional sense, an online lender tends to be much more lenient with the minimum credit score and other requirements than a traditional lender. That’s why we decided to include them on this list. 

The main thing to know when considering business financing from an online lender is that you’ll usually encounter higher interest and fees than you would with a traditional loan. 

Because they frequently lend to business owners with poor credit scores, they have a higher level of risk — hence the higher interest rates and fees with this alternative financing. 

Also, you may be limited to a short term loan, which means you may have higher monthly payments than you would with a traditional lender with a long term loan.

As for the positives, online lenders are overall less stringent with minimum credit score criteria, and funding approval tends to be pretty quick. Also, a lender will often have a variety of business loans, which should help you find the perfect financing for your business. 

A Good Solution: Fix Your Personal Credit

Although your business credit score and personal credit score are two different entities, there’s a considerable level of overlap, especially for new business owners. 

Because a lender has little to go on if you’ve only been in business for a short time, they’ll often reference your personal credit when making a funding decision on a startup loan or business credit card.  

And because personal guarantees are common with many small business loans, your personal credit history can be a major factor in whether you’re approved or not. 

The bottom line is that fixing your personal credit should be a top priority and can be done by:

• Always making credit card and personal loan payments on time or in advance
• Maintaining a credit utilization ratio of no higher than 30% of your credit limit
• Monitoring your credit report and quickly resolving any errors or inaccuracies (e.g. a late payment was accidentally reported, but you actually made it on time)
• Limit your number of new credit applications (lenders will often run a hard inquiry)

Also, it’s smart to separate your business and personal banking accounts to protect your personal assets and credit. 

Even Better: Build Business Credit While You Fix Your Personal Credit

Again, business credit and personal credit are intertwined, and both affect your ability to secure a business loan and other forms of financing. Therefore, the best approach is to work on building your business credit while simultaneously fixing your personal credit. 

That should have the maximum impact. 

Here are some ways to improve your business credit score.

• Choose a business structure, such as a sole proprietorship, partnership, or LLC
• Open a business bank account
• Get an EIN
• Get a DUNS number
• Get tradelines from vendors who report to at least one major business credit bureau
• Always make vendor payments on time or in advance
• Monitor your business report to identify errors or discrepancies 

Taking a holistic approach like this should help you quickly gain momentum and open doors for financing, such as small business loans, business credit cards, and more. 

Business Financing Options Available to Only Those with Good Credit

The purpose of this article is to shed light on workarounds for getting a small business loan with bad credit. But if you’re wondering about business financing options that are available if you have strong credit, there are three in particular to know about. 

That way, when you hopefully raise your credit score, these will become realistic options as well. 

First, there’s an SBA loan, which is backed by the government. 

One example is a 7(a) loan, which offers working capital for a variety of business needs, including buying or improving real estate, purchasing equipment, and buying business supplies. 

Another is a 504 loan, which offers up to $5.5 million to buy commercial buildings or land, new facilities, and machinery or equipment that will be used long-term for at least 10 years. You can find everything you need on SBA loans here. 

Normal business credit cards are a second financing option. 

If you meet the minimum credit score criteria, you may be able to secure some of the top business cards, with many offering low interest and fees, robust rewards, enticing perks, and a higher credit limit than many other cards. 

Finally, a traditional business line of credit is often possible for those with good credit. This tends to have lower interest than many other financing options and has plenty of flexibility to accommodate the needs of your growing business. 

How to Use Your EIN to Get Business Credit

Earlier, we mentioned the importance of separating your business and personal finances and getting an EIN to build business credit. But let’s elaborate a bit more. 

Having an EIN is an effective way to get business credit because it allows you to establish a separate business credit history. 

So even if you have bad personal credit, this should make it easier to qualify for a business loan, a short term loan, a working capital loan, and other forms of financing. 

Although they’re not nearly as common as traditional business credit cards and business loans that require an SSN, there are several EIN-only options that look at your EIN when determining eligibility rather than your SSN. 

That way, you don’t have to worry about a personal credit check, and you should have considerably better odds of qualifying for the loan amount needed to fund your business. 

We even wrote an article about startup business loans using an EIN number if you’re interested. 

You can also learn how to get a $100k business loan as well. 

Beyond that, spending responsibly and making payments on time should help improve your business credit score, as this should be reported to one or more business credit bureaus.

Build Business Credit with eCredable

If you’re looking to quickly raise your business credit score without a ton of heavy lifting, you’ll definitely want to know about eCredable. 

eCredable is a simple business credit-building solution that treats a utility payment like electricity, internet, water, and gas as a vendor tradeline and is reported to major business credit bureaus. 

Besides that, vendor/supplier payments and business services serve as a business line of credit as well.  

Upon signing up, we’ll automatically attempt to report up to the last 24 months of payments for a quick boost to your business credit, which can surpass what you get with many business credit cards and small business loans. 

To quantify, many eCredable users can raise their business credit score by a staggering 40% within just three months, which can be instrumental in unlocking business financing opportunities. 

Learn how eCredable works and how it can take your business credit to the next level. 

Minimum Credit Score for a Business Loan

Your credit score is one of the primary factors lenders consider when you apply for a business loan. It has a direct impact on both your chances of qualifying and your financing terms, such as your interest rate and credit limit.

To help you determine which business financing option makes sense for you, let’s explore the minimum credit score you need for several popular business loan types.

What Personal Credit Score Do You Need for a Business Loan?

Contrary to what you might expect, lenders often check your personal credit score when you apply for a business loan. This is especially common when you’re a new small business owner and your company lacks significant business credit history.

However, even established business owners may need to undergo a personal credit check when applying for business financing. That’s because lenders will often want you to personally guarantee your business’s credit accounts.

If your business ever defaults, signing a personal guarantee gives your lender the right to pursue your personal assets to recoup its losses. By reviewing your personal credit history, lenders can determine how much that helps reduce their risk.

Of course, personal credit score requirements vary between the different types of business loans, and individual lender expectations often differ, but here’s about what you can expect to need for some common types of business financing:

Type of Business Loan	Personal Credit Score for Business Loan
Business term loan	600
Business line of credit	600
Business credit card	670
Equipment financing	575
Business auto loan	575
Invoice financing	N/A
Merchant cash advance	N/A

Let’s explore how each business loan type works and their qualification requirements in more detail to help you determine which makes the most sense for you.

Business Term Loans

Business term loans use an installment structure, providing a lump sum upfront and requiring you to pay back the amount in monthly payments of principal and interest.

The personal credit score you need to qualify for a business term loan depends primarily on the type of lender issuing the account.

An online or alternative lender will generally have the lowest credit requirements. For example, Fundbox offers business term loans to borrowers with personal credit scores of at least 600.

Traditional financial institutions, like banks, tend to have higher credit requirements. They typically don’t publicly disclose their requirements, but you often need a good to excellent credit score to qualify for a bank loan, which starts at around 670.

However, as we discuss in our article, How Hard Is It to Get a Business Loan, term loans also tend to have time-in-business and annual revenue requirements that can make qualifying more challenging.

For example, Fundbox borrowers must have three months of business bank history and $100K in annual revenue, while Bank of America requires two years and $100K.

Business Line of Credit

Business lines of credit are revolving credit accounts. Like credit cards, you can borrow against them, repay your balance, and borrow against them again.

However, lines of credit tend to be best for financing larger, less frequent transactions, while credit cards are usually better for smaller, day-to-day purchases. Lines of credit may have lower interest rates, but they also often charge a fee each time you use them.

Qualifying for a business line of credit is a lot like qualifying for a business term loan. Their credit score, time in business, and annual revenue requirements are often similar. For example, Fundbox has the same minimums for both types of credit accounts.

Business Credit Card

Business credit cards work the same way personal credit cards do, except that they often have higher credit limits that make them more suitable for facilitating business transactions.

Traditional business credit cards tend to have a higher minimum credit score requirement than online loans, with most accounts requiring at least a good credit score of 670 unless you provide collateral.

However, business credit cards are still often easier to qualify for than term loans due to their lack of time in business and annual revenue requirements. As long as you have good personal credit, you can often qualify for one even as a new business owner.

Equipment Financing

Equipment financing is a type of term loan that helps you purchase business equipment using the newly acquired asset as collateral. If you default, the lender can seize the asset and recoup its losses.

In addition to being secured credit accounts, equipment loans are typically offered by online lenders. As a result, they’re one of the most readily accessible types of business loans, even to new small business owners.

According to the 2023 Small Business Credit Survey by the Federal Reserve Banks, 91% of equipment loan applicants were at least partially approved.

You may qualify even with a low credit score. For example, Triton Capital may offer equipment financing to borrowers with personal credit ratings as low as 580.

Business Auto Loans

Business auto loans are another type of term loan that uses the asset you purchase as collateral, but they’re specifically for acquiring business vehicles.

As you might expect, they have very similar qualification requirements to equipment loans. In fact, the Small Business Credit Survey lumps the two together, with 91% of applicants for both types of credit accounts receiving at least partial loan approval.

In other words, you may be able to qualify for business auto loans with credit scores as low as 580, which is considered poor credit.

Invoice Financing

Invoice financing is a unique type of small business funding that lets you borrow against your outstanding invoices. It can help you generate cash when you expect the collection process to take longer than you might like.

Invoice lenders typically offer loans of up to 80% or 90% of your accounts receivable. You remain responsible for collecting from your clients, and once you do, you pay back the loan amount you borrowed plus fees and interest.

Invoice financing is often even more accessible than equipment and auto loans. In many cases, all you need to qualify for is a sufficient amount of outstanding invoices.

Many invoice financing providers, like Clarify Capital, sometimes don’t check personal credit scores, so you can qualify even with bad credit.

Merchant Cash Advance

Like traditional business term loans, merchant cash advances provide a lump sum upfront. However, you typically must repay them with automatic daily or weekly deductions from your sales rather than in monthly installments.

Rather than an interest rate, merchant cash advance costs are usually expressed as a factor rate that ranges from 1.1 to 1.5. You multiply it by your advance amount to calculate what you need to repay.

Like invoice financing, merchant cash advances may be available to borrowers with bad credit or even no credit history. Many providers, like Fundshop, forego personal credit checks and evaluate prospective borrowers exclusively on their sales.

Business Credit Scores Needed for Business Loans

Unsurprisingly, some lenders check your business credit when you apply for business loans. They may consider it in isolation or in combination with your personal credit.

However, unlike with personal credit, lenders may use many different business credit scores to assess your company’s creditworthiness. There is no FICO score equivalent that dominates the market.

Here are some of the business credit scores lenders are likely to check:

• Dun & Bradstreet’s (D&B’s) PAYDEX Score: This score ranges from 1 to 100, and business lenders generally consider a good score to be 80 or higher.
• Experian’s Intelliscore Plus: This score ranges from 1 to 100, and a score of 76 or higher is typically considered good.
• Equifax’s Credit Risk Score: This score ranges from 101 to 992, with a score of 550 or higher generally being considered good.
• FICO’s Small Business Scoring Service (SBSS): Lenders check the SBSS score when you apply for loans guaranteed by the Small Business Administration (SBA). It ranges from 0 to 300, and you typically need a rating of at least 160 to get an SBA loan.

There’s often no way to know for sure which business credit score a lender is going to check before you apply. 

Fortunately, most of them have the same primary scoring factor: payment history. 

Making timely or early payments is almost always the best way to build your business credit.

Options for Business Owners With Bad Credit

Business owners with bad credit may struggle to qualify for certain types of financing, including business term loans, lines of credit, and business credit cards. 

As we discuss in our article, How Much of a Business Loan Can I Get?, that’s especially true if you apply for accounts from traditional lenders.

However, you may have an easier time applying for accounts with more flexible requirements, such as equipment financing, business auto loans, invoice financing, and merchant cash advances.

The downside to these types of credit accounts is that they generally have less favorable loan terms, including a higher interest rate and fees that can quickly become financially burdensome.

If you can afford to wait, you may be better off taking the time to improve your credit scores before applying for a business loan. Not only will that increase your chances of qualifying, but it can also reduce your financing costs significantly.

Build Business Credit With eCredable

eCredable is one of the most efficient ways to build business credit. Our Business Lift program lets you transform your existing expenses into tradelines by reporting them to the Equifax business credit bureau. eCredable Business Lift payments are also reported to D&B, Experian, and Equifax.

In addition to your ongoing payments, you can share up to 24 months of historical payments, rapidly expanding your business credit history on each credit report. 

On average, users see a 32-point increase in their business credit scores at participating credit bureaus.

Since there’s no credit check involved, eCredable is a viable option even if you’re just getting started. Sign up today and take the shortcut to better business credit.

 

Can You Get a Sam's Club Business Credit Card with No PG?

You can get a Sam’s Club business credit card with no personal guarantee. 

But there are limitations that may make it difficult to get without a personal guarantee. 

We believe this would be a great card if you meet their stringent requirements.

How to Get Sam's Club Business Credit Card with No PG

In order to get a Sam’s Club business credit card no PG, it’s reported that you need the following:

• A business that has been operating for at least two years
• A business that’s generating at least $5 million in annual sales or revenue

As you can imagine, the average business owner will likely sign a personal guarantee. Most won’t be bringing in enough cash to circumvent the PG requirement. 

With that in mind, what are some of the other Sam’s Club Mastercard application requirements? If you’re still interested in the card, you’ll need to have:

• An active membership with Sam’s Club
• An LLC or corporation
• Good to excellent credit to qualify (Sam’s Club card offer is subject to credit approval)
• Over 10 employees in your employ

The Sam’s Club Business Mastercard is a solid business credit card. But if you want to avoid personal guarantees, it’s probably not the right fit for you. Consider some of the alternatives we’ve provided below instead. 

They will be useful if you don’t want to put your personal credit score or assets at risk.

Sam's Club Business Credit Card Limits and Other Features

Your Sam’s Club business credit card limit will depend on credit and annual revenue. 

Some users have reported receiving as little as $1,000 to start. Others have seen a maximum credit line of $15,000 or higher. 

If you’re currently a Sam’s Club member, you’ll be pleased with all the features this card offers. With a Sam’s Club business credit card, you receive:

• An additional $30 statement credit when you spend more than $30 within 30 days of opening your account
• 5% cash back on gas like Sam’s Club/Walmart gas (up to $6,000, then 1% rate kicks in)
• 3% cash back on dining and restaurants
• 3% cash back on Sam’s Club purchases for Sam’s Club Plus Members (Every non-Plus Sam's Club member gets 1% cash back on Sams Club purchases)
• 1% cash back on all other eligible purchases
• No annual fee (except for the fee Plus club members pay)

Now, there are some drawbacks to this card as well. While they do offer the above, you can expect: 

• A high APR of anywhere from 20.90% to 28.90%
• Paying for a Sam’s Club membership for additional rewards. This will cost you an additional $110 per year. 
• A maximum of $5,000 in cash back rewards (Sams cash) each year. 
• You will need to use personal credit and sign PG if you don’t qualify for EIN-only. 

The Sam’s Club Business Mastercard has a lot to offer. However, the disadvantages of signing up can be a deterrent. Weigh both carefully before you commit to this business credit card. 

How Do You Avoid Personal Guarantees When Applying to Business Credit Cards?

Personal guarantees might seem unavoidable when you're looking for business credit cards. But while they are quite prevalent, they’re not always required. Here are two ways you can avoid personal guarantees when applying for business credit cards. 

1. Establishing Your Business: It’s important that your business can easily qualify for cards without having to sign a PG. This means having strong annual revenue and business activity, and business credit. If your business makes a lot, has been in business for a while, and has great business credit, the chances are high that you won’t need to sign a PG for certain cards. 
2. Finding Cards With Explicitly No PG Terms: With the above in mind, you also need to make sure that your desired card has no PG terms. Some will, and others won’t. Some may also make it quite easy to apply without a PG. Extensive research will help you find the right cards for your needs. 

So long as you know which cards don’t require a PG and what their terms are, you can avoid personal guarantees altogether. With that in mind, let’s take a look at some of your options below. 

Other No PG Business Credit Cards

Which business cards require no PG? Which business cards report to Dun & Bradstreet? Can you get an Amazon Business Credit Card no personal guarantee? 

Knowing your options is crucial to making informed card application decisions. Here are some of the best business credit cards with no PG to look into. 

• Capital One Business Credit Card EIN Only: As with Sam’s Club, you can get a Capital One business credit card so long as you meet their qualifications. The Capital One® Spark® Classic for Business is one card known for requiring no PG. 
• Ramp: The Ramp corporate card is a charge card that requires no PG. The application process for the Ramp card is simple and the requirements are lax. Their financial management ecosystem also helps you track transactions and cash flow. The Ramp business card is the best credit card for growing businesses. 
• Brex: The Brex card is another corporate card that requires no PG. The Brex corporate card offers ample rewards, unlimited employee cards, and seamless card and expense management. That being said, it’s generally best for venture-backed or mid-market companies. If you’re a smaller business owner, you’re better off with another business card. 
• SVB Innovators Card: The SVB Innovator Card is another charge card worth looking into. With high rewards and a higher credit limit, you’re sure to get a ton out of this charge card. SVB is also a credit card issuer that offers a wide range of payment solutions to support your business. 
• Stripe Corporate Card: The Stripe corporate card requires no PG and integrates well with the Stripe ecosystem. If you’re a small business owner who uses Stripe or wants to take advantage of its small business features, this business card is worth considering. 
• Shell Small Business Card: The Shell small business credit card is reported to be a no PG card. It’s a great option for those who need to fuel their fleet and want additional perks and rewards. 

The best business credit card is the one that will offer your business the most benefits. Consider the above as you seek financing. 

Use eCredable to Improve Your Business Credit Score

Accessing no personal guarantee cards typically requires two things: strong business credit and strong business activity. 

If you’re looking to improve these things, eCredable can help! We make it easy to establish credit with our monthly subscription. 

We report the eCredable business subscription to D&B, Experian, and Equifax. 

Meanwhile, we also help you report your third-party bills like business bills and utilities to Equifax. 

We also offer accounting tools to help you stay on top of your finances with greater ease. 

Sign up for eCredable now to build your business credit score and credit history with ease!

What Is a Business Loan Broker? Fees, Benefits, Risks

A business loan broker is someone who acts as an intermediary between businesses and lenders. 

They work to better understand your financial situation and connect you with lenders to help you finance your business. 

But are they necessary? And what can they help with? 

We'll help you better understand what loan brokering is and whether you need it for your business. 

How Does Loan Brokering Work?

Loan brokering is a relatively simple process. When you decide to enlist the help of a loan broker, you will: 

• Provide Them With Your Information: In order to find lenders, business loan brokers need to know who they’re working with. You’ll tell them more about your credit, annual revenue, and other relevant information. You’ll also tell them about the type of financing you’re looking for. Some options may include a business credit builder loan, a secured business loan, or no personal guarantee business loans. You may even work with franchise loan brokers.
• Allow Them to Find Lenders on Your Behalf: Business loan brokers will (or should) have many lenders in their network. They’ll take what they’ve learned, assess your options, and connect with lenders who are relevant to your funding needs and current financial situation. 
• Work With Them on Your Applications (Self-Submitted or Otherwise): Some brokers will help you with applications by providing you with advice. Others may file applications on your behalf to hasten the loan process. The loan application process will look different with each lender.
• Get the Loan With the Best Possible Terms: Once the commercial loan broker has received loan offers, they’ll then help you analyze your choices and select the best offer that will support your business needs. They can negotiate your small business loan on your behalf as well. 
• Pay the Business Loan Broker (in Some Cases): Some business loan brokers get paid by the lender. Others will take a fee from your loan product after you’ve found the right lender. This may come in the form of a lump sum charge after you’ve secured funding or fees tacked onto the interest rates of your loans. Borrowers should seek out the former with a business broker. Still, be prepared for the latter. 

Things Business Loan Brokers Help With

Business loan brokers might seem non-essential. However, they do have their benefits in commercial finance. 

Certain business owners may require their services if they’re new to financing. Not every small business knows exactly how to fund their operations. An experienced business loan broker can help them feel more supported. 

If you’re considering working with a business loan broker but aren’t sure what they can help you with, here’s a brief overview of the things they can achieve in their line of work. 

• Negotiations: Negotiating with every lender you’re approved for can be time-consuming. A business loan broker can help you negotiate better loan term options so you get the financing you want. The more loan options you have with the terms you asked for, the better.
• Filing Applications: Applications are simple for some forms of business financing. Others can be more complex for business owners. Business loan brokers can file applications for you so that all you have to do is wait for approval. Just keep in mind that some business loan brokers may not offer direct loan application services. 
• Finding Specific Types of Financing: Are you hoping to secure an SBA loan? Applying for an SBA loan and securing an SBA loan can be complex and time-consuming without an SBA loan broker. Are you trying to get a loan to purchase commercial real estate? The same applies here. Some types of financing and loan programs are harder to navigate than others. If you need help securing a specific type of financing, a business loan broker will be an invaluable asset. 
• Providing Advice and Support: Your commercial loan broker will provide you with advice and support as you navigate the financing process. This will be crucial if you will be applying for various loan options directly. 
• Streamlining the Financing Process: Funding is often an immediate need. However, business funding can be slow to access. Business loan brokers will streamline the financing process and get things done faster so that you can get the funds you require. Successful brokers will get you approved and funded quickly.

Things Business Loan Brokers Can't Help With

A commercial loan broker can’t do everything for you, unfortunately. There are limitations to what a business finance broker can do. 

For example, small business loan brokers can’t help you with your personal or business credit. While they’ll need this information to file applications, they can’t fix poor credit. Only you will be able to do that with the help of other experts or services. 

Another major thing loan brokers can’t do is guarantee approval. They can’t guarantee success, and they’re not a direct lender. Their only role is to connect you with lenders who can finance your operations. 

Are you struggling with your finances? Because business loan brokers are in the broader finance niche, you may assume they will be able to help you. 

Unfortunately, your commercial loan broker is not an accountant or business advisor. A loan brokerage can only offer insights regarding how to apply for financing and how to improve your chances of securing it. 

Knowing ahead of time what a business loan broker can and can’t achieve on your behalf is important. It will help you determine if they’re the right resource for your needs at this point in time. 

Typical Business Loan Broker Fees

Business loan broker fees are important to be aware of. You don’t want to immediately have to take out a sizable chunk of your loan for broker fees. 

In the best-case scenario, you won’t have to pay anything. The lender you decide on will pay them. 

But what happens if your business loan broker does charge a fee? Most sources estimate that loan broker fees can range anywhere from 1 to 6 percent of the loan total. Larger loans, like a commercial real estate loan, tend to have smaller loan broker fees. 

However, fees have been known to be higher. You may see fees of up to 17 percent with some loan brokers. This can cut substantially into the full loan amount.

It’s important to discuss this ahead of time so you know exactly what to expect once you close on a loan. Aim to get a commercial loan broker who can keep your fees down. 

Well Known Business Loan Broker Companies

As with any other business-oriented service, you want to make sure you’re working with an established company you can trust. 

Who are the well-known business loan broker companies you can start with? 

• Lendio: Lendio is the biggest and most well-known business loan broker company out there. They offer financing up to $5 million (depending on financing option), rapid application times, and approval times and funding times of as fast as 24 hours. They also have a network of over 75 lenders. You’ll find that they can act as a commercial mortgage broker for real estate loans too, helping you access a wide range of funding opportunities.
• National Business Capital: National Business Capital is designed for much larger businesses. As such, they can offer financing of up to $10 million. They boast an application time of around two minutes and approval and funding times of as fast as 24 to 48 hours. They have a network of over 75 lenders as well. 
• Clarify Capital: Clarify Capital focuses on funding small to mid-sized businesses. How much of a business loan can you get with them? They offer funding for up to $5 million. Their application and funding times are about the same as National Business Capital. They’re also a small business loan broker with a network of over 75 lenders. 

Is Getting a Business Loan Broker a Good Idea?

Getting a business loan broker can be a good idea in some cases. If you need specialized financing, want the added support and insights, or have poor credit and need help securing financing, a business loan broker could prove helpful. 

That being said, they’re not necessary for all business owners. 

If you’re a small business owner with good credit, you can easily go to a financial institution like a bank or business lender directly to file applications and get offers. It may take a bit longer, but you’ll save money on broker fees. 

You’ll face fewer challenges across every loan type because of your good credit. 

Put simply, it boils down to your business’s financial situation and needs. Consider this before enlisting the help of a business loan broker. 

Build Your Business Credit with eCredable

Securing financing without a high business credit score and business credit history can be difficult. 

But there are solutions for modern business owners. 

eCredable helps you build credit seamlessly in two ways: by reporting your monthly subscriptions and by reporting your business’s bills. 

When you sign up for eCredable Business Lift or Business Lift+, we report your subscription payment to D&B, Experian Business, and Equifax Business each month. This helps you establish business credit with the major credit bureaus. 

But we don’t stop there. From rent to utilities, we’ll help you report these regular expenses to Equifax Business. 

Our Business Lift+ subscription comes with added expense tracking support to help you stay on top of cash flow and receive other business finance insights as well. 

Ready to raise your business credit score? Join eCredable today!

Business Credit Cards That Pull Equifax ONLY

When you apply for a business credit card, your prospective issuer will typically initiate a hard credit check, which involves pulling one of your personal credit reports from Experian, TransUnion, or Equifax.

Most business credit card issuers don’t pull exclusively from one consumer credit bureau, especially not in all regions, but there are some that generally pull from Equifax only. 

We’ll discuss some of the best options and other steps you should take if you only have one good personal credit report.

Business Credit Cards That Pull Equifax Only

• Citizens Bank: Citizens offers two business credit cards, the Business Everyday Points card and the Business Platinum card. It typically pulls from Equifax for both, though it may use TransUnion in NY.
• Truist Bank: Truist, formerly BB&T, pulls from Equifax for its three business credit cards, which include the Business Cash Rewards, Business Travel Rewards, and Truist Business accounts.
• Digital Credit Union (DCU): DCU only offers one business credit card, the Business Visa Platinum. It generally pulls from Equifax, but it may pull from TransUnion in NJ.
• Langley FCU: Langley FCU offers the Platinum Visa Business card and pulls exclusively from Equifax for its inquiries.
• Citi: Citi pulls from Equifax in many states, including CA, FL, and NY, but it often uses a double-pull with Experian. However, it may be worth considering because it offers two business cards that report to D&B, or Dun & Bradstreet.

Keep in mind that this isn’t an exhaustive list, and many card issuers pull from Equifax only in certain parts of the U.S. If you’re looking for additional options, consider your local credit unions.

Credit unions tend to pull from Equifax more often than other types of card issuers, including some of the most well-known banks. For example, American Express, Barclays, and Bank of America only pull from Experian and TransUnion.

Also, note that these credit pull policies aren’t set in stone. Issuers don’t disclose which bureau they’ll pull from, so much of the best available data comes from observing patterns and past reports. Practices may change at any time and vary by location.

What Should You Do if You Have Good Credit With Only One of the Credit Bureaus?

If you have good credit with only one credit reporting agency and significantly different scores with the others, it could be due to inaccurate information. Report errors can drag down your scores, and they may occur with some bureaus and not others.

Get a free copy of all three credit reports, such as from AnnualCreditReport.com, and make sure there aren’t any mistakes. For example, that could be:

• Incorrect payment dates
• Outdated debt amounts
• Entire accounts that don’t belong to you

If you do find any errors, dispute them with each bureau separately.

You could also have a good credit score with only one bureau due to differences in lender reporting practices. Lenders aren’t required to share data with all of the bureaus, so you may have accounts helping your score with one and not others.

Similarly, some of your credit reports may get pulled more often, which could cause your credit scores with those bureaus to be lower than with the bureaus that show no hard inquiries.

In either case, you won’t be able to dispute the differences because they’re not due to any errors. Instead, work on building better credit with all three bureaus.

Many lenders report to all three personal credit bureaus, so focus on establishing a positive payment history and keeping a low credit utilization with those accounts.

Can You Get a Business Credit Card Without Personal Credit?

You may be able to get a business credit without personal credit, but only if the credit card issuer lets you apply with your business’s Employer Identification Number (EIN). 

True EIN-only options are relatively rare, but some of the best business credit cards with no personal guarantees include:

• Brex Card
• Ramp Card
• BILL Divvy Corporate Card
• FairFigure Capital Card

Since there’s often relatively little separation between the finances of a small business owner and their company, most other business card issuers require you to sign a personal guarantee, which makes you personally liable for your company’s debts.

Those issuers will ask for your Social Security number (SSN) and check your personal credit. 

Not only do your personal obligations impact your ability to guarantee your company’s debts, but your personal credit history may be the only way to gauge your credit practices if you don’t have business credit.

Get Around Bad Personal Credit by Building Business Credit

Because most small business credit card issuers want you to sign a personal guarantee, having bad personal credit can make it difficult to qualify for a credit account. One way to get around that challenge is by building business credit.

If your company has its own business credit score and history, card issuers may be more willing to forego a personal guarantee or look past a bad personal credit score. To that end, here are some steps you should take:

• Form a separate legal entity: Establish your business as a limited liability company (LLC) or corporation with its own address and phone number.
• Open a business bank account: Keep your business and personal funds separate. Not only is it better for bookkeeping, but it helps demonstrate that your business is independent of you.
• Apply for various tradelines: Tradelines are credit accounts that appear in your business credit reports. Vendor tradelines come from suppliers and other vendors, while financial tradelines come from traditional creditors.
• Establish a positive payment history: As with personal credit, timely payments are the most impactful factor in your business credit scores. Always pay by your due date or ahead of it to maximize your business credit.

All that said, some lenders will require you to sign a personal guarantee and check your personal credit regardless, especially if you’re the sole business owner or are essential to the business’s day-to-day operations.

Ideally, you should work toward having good business and personal credit. That will always provide you with the most opportunities for financing.

Most business loans and business credit cards do not report to personal credit bureaus, so you’ll typically have to work on the two types of credit separately.

Build Business Credit With eCredable    

The eCredable Business Lift program is one of the most efficient ways to build good business credit, even if you’re starting from scratch or have bad personal credit. 

There’s no personal credit check when you sign up, so you don’t need a good score to get started.

After your account is opened, we also let you add an unlimited number of recurring expenses, like your monthly rent and utility bills, to your Equifax Business credit report as vendor tradelines, also known as trade credit. 

Even better, you can also report up to 24 months of historical payments for each account, expanding your payment history by up to two years. It’s one of the few shortcuts to better business credit.

To top it all off, we’ll report your monthly eCredable subscription payment to D&B, Equifax, and Experian Business, giving you an additional vendor tradeline with each major business credit bureau.

You’re free to cancel at any time without penalty, so give it a try today!

Business Credit Cards That Pull Experian ONLY

Is your personal credit score strongest with Experian? 

Applying for cards that pull Experian only may improve your chances of qualifying. 

Some of the top business credit cards that reportedly pull Experian only include Chase, Amex, and Bank of America business credit cards. 

Here are some of the best business credit cards worth looking into if your Experian credit score is the strongest.

Business Credit Cards That Pull Experian Only

• American Express Business Gold Card
• American Express Blue Business Cash Card
• Bank of America Business Advantage Unlimited Cash Rewards Mastercard Secured credit card
• Bank of America Platinum Plus Mastercard Business Card
• Chase Ink Business Preferred Credit Card
• Chase Ink Business Cash Credit Card

It’s important to preface this section with a disclaimer. Chase, Amex, and BoA are reported to be most likely to pull from Experian only. However, it’s not a guarantee. 

There are many factors that will determine where your credit card issuer pulls from. Keep this in mind while you’re applying. 

That being said, let’s take a look at each of these business credit cards. 

The American Express Business Gold Card offers a wide range of perks. This includes 4x points on your top 2 eligible spending categories, a Walmart+ monthly membership credit, and 0% APR for six months (18.99% - 27.99% variable APR after). 

The only downside is a $375 annual fee. 

The American Express Blue Business Cash Card offers 0% APR for 12 months. Their subsequent rate is around 17.99% - 25.99% after the intro period. They also offer 2% cash back on all eligible purchases up to $50,000 and then 1% cash back after that. 

Are you looking for secured credit cards? The Bank of America Business Advantage Unlimited Cash Rewards Mastercard Secured credit card is another option. All you need is a $1,000 security deposit. Then, you can build business credit while getting 1.5% cash back. 

This business credit card has a 27.99% variable APR. 

The Bank of America Platinum Plus Mastercard Business card is another great choice. They offer a 0% APR for the first seven billing cycles. Then, anywhere from 15.99% - 26.99%. They also offer automatic rebates and seamless employee card management. 

The Chase Ink Business Preferred Credit Card has an annual fee of $95. However, you’ll likely save with 3x points on shipping and other business expenses. They have a variable rate of 20.74%–25.74% APR. 

Meanwhile, the Chase Ink Business Cash Credit Card can help you earn more with cash back. It has no annual fee and up to 5% cash back in select business categories. It offers 0% APR for the first 12 months. Then, the 17.99%–23.99% variable APR kicks in.

What Should You Do If You Have Good Credit with Only One of the Credit Bureaus?   

Having good credit with only one of the personal credit bureaus could be indicative that there’s been a mistake that’s been made in your personal credit report. This is causing your personal credit score to look higher with one personal credit bureau. 

Meanwhile, the others don’t feature the same activity on your credit report. You can reach out to them to learn more about your personal credit information. 

You should also look at your credit report information at other consumer credit bureaus to see if there are any mistakes that could be holding your credit score back. You can then dispute credit report information that is affecting your credit profile.

Having good credit with just one credit bureau can also mean that one of your credit cards or vendors only reports to one of the bureaus.

Overall, you want to make sure all of your credit scores at every credit bureau are high. Work with creditors that report to each major credit bureau: Experian, Equifax, and Transunion. This will ensure your credit scores are high across the board. 

This will be essential as you look to grow your business.

Just keep in mind that not all creditors and lenders will report to the three major bureaus. Having a healthy mix of credit sources that report to all different bureaus will help you stay on track.

Can You Get a Business Credit Card without Personal Credit?

Definitely!

It’s more difficult to work around a personal guarantee, but not impossible. There are business cards that allow you to use your business’s EIN only instead of your personal SSN. 

Corporate cards or charge cards like Brex, Ramp, and the Stripe corporate card are excellent examples. However, there are other options. 

These include fleet cards like the Shell Small Business credit card, the Capital One® Spark® Classic for Business, and even the SVB Innovator Card. 

When considering no PG cards that require EIN only, always research:

• What the qualification requirements are. Some corporate cards require you to have extensive funding or cash on hand to qualify for a card. 
• Which business credit bureau they report to. Look for business cards that report to D&B, Experian Business, and Equifax Business. 
• What benefits business owners receive. Some cards are more advantageous to own for your business than others. 

Get Around Bad Personal Credit By Building Business Credit

Bad personal credit can be a major hurdle to accessing funding opportunities. 

By building business credit scores (especially by focusing on accessing EIN only opportunities and then growing your credit from there), you can circumvent the issue of needing personal credit to access financing. 

You can build business credit through trade credit, business credit cards, and other resources that will allow you to get your foot in the door without a personal credit check or personal guarantee. 

You should also make sure that your business credit cards do not report to personal credit. This can put you in a tough spot if your card reports negative activity to a top credit reporting agency. All of this will further impact your credit score and payment history.

With that in mind, personal credit and personal finance are still important. Your personal credit score can impact your ability to get loans or credit cards for your business. 

Ideally, you should be working on building both your business credit score and personal credit score.

Build Business Credit with eCredable

Building business credit is the only way to tap into better funding opportunities. However, it can seem impossible if you’re unable to find the right resources to get you started. 

That’s where eCredable comes in. 

Our eCredable Business Lift subscription offer two key benefits: helping you build your business credit score by reporting your monthly subscription and by reporting third-party bills. 

We report your monthly subscription to D&B, Experian, and Equifax. Meanwhile, we report business expenses like rent and utilities to Equifax. With credit monitoring and consistent payments, you can see tangible results.

Ready to build your business credit score and establish credit history? Looking to improve your business credit report with ease? Sign up for Business Lift or Business Lift+ now to get started. 

Business Credit Cards That Pull TransUnion ONLY

In most cases, business credit cards draw data from the three major consumer credit bureaus — Experian, Equifax, and TransUnion. 

However, there are a few exceptions of business credit cards that pull TransUnion only. 

If TransUnion is your strongest credit profile, these are the business cards you’ll want to go after when opening a business credit account. 

Business Credit Cards That Pull TransUnion Only

• U.S Bank Business Platinum Card
• Bank of America Business Advantage Unlimited Cash Rewards Mastercard Credit Card
• BMO Business Platinum Rewards Credit Card

The U.S. Bank Business Platinum Card offers 0% APR and balance transfer fee for the first 18 billing cycles (like Citi Double Cash) and 17.49% to 26.49% variable APR afterward. With this credit card, there’s no annual fee. 

The Bank of America Business Advantage Card is perhaps the best credit card if you want straightforward rewards with unlimited 1.5% cash back on each eligible purchase. 

You pay 0% interest for the first nine billing cycles. After the intro period, a variable APR ranges from 17.99% to 27.99%.

If you spend at least $3,000 within the first 90 days of opening your account, you get a $300 credit. There’s also no annual fee with this credit card and you get robust identity theft protection. 

And like the Ramp Visa Corporate Card, it offers a cash flow management tool for maximum visibility. 

The BMO Business Platinum Card has no annual fee and offers 0% APR for the first nine months. Afterward, you pay 20.49% to 29.49% APR.

Rewards break down as follows:

• 5x points for every $1 spent on internet and phone services
• 4x points for every $1 spent on office and printing supplies
• 3x points for every $1 spent on gas
• 2x points for every $1 spent on eligible dining purchases

You also get up to 100,000 reward points as part of their welcome bonus. 

While this isn’t the best business credit card if you want straightforward rewards and it doesn’t have all of the features of a larger company like Mastercard International Incorporated, BMO is still a solid option for many small business owners. 

What Should You Do if You Have Good Credit with Only One of the Credit Bureaus?

Only having good credit with one personal credit bureau typically means one of two things. 

Either there’s been a mistake with that credit bureau because it has different credit information. Or, it’s your strongest credit report profile. 

Whatever the case, it’s important to build up your credit with all three personal bureaus. 

That way, it won’t matter which credit bureau(s) a business credit card issuer pulls from because you’ll have a strong personal credit report, which should increase your chances of being approved. 

In turn, you don’t have to be concerned with a personal credit check.

To improve your score with all three personal credit bureaus, you’ll want to follow best practices, which include:

• Always making payments on time or in advance
• Keeping your personal credit card utilization rate at 30% or below
• Monitoring credit reporting to ensure there are no errors or discrepancies
• Using credit cards responsibly 

This should create positive momentum with your consumer credit, which should, in turn, make it easier to qualify for business credit cards with favorable terms and conditions and a high credit limit. 

For a free credit score, you can use Credit Karma. 

Can You Get a Business Credit Card Without Personal Credit?

Although the majority of business credit cards will look at your personal credit score, it is possible to get a business card without personal credit. 

To do so, you’ll need to look for a business credit card that doesn’t require a personal guarantee and is EIN only. 

Admittedly, this will significantly reduce your options, but it lets you get around providing a business credit card issuer with your SSN. Instead, you can simply use your EIN. 

That way, if you have bad credit, it shouldn’t prevent you from qualifying with a credit card company. 

Plus, this helps separate your business and personal finances to prevent your personal credit from potentially being negatively impacted by issues with your business credit report. 

You can learn more about cards that fall into this category in this post about startup business credit cards with no credit EIN only.

And we also wrote a post about which business credit cards do not report to personal credit. 

Get Around Bad Personal Credit By Building Business Credit

Let’s say you have a bad personal credit history but you don’t want it to get in your way when building business credit. What can you do?

• Separate your personal and business finances by establishing your business as a separate entity (this can be done by setting it up as a partnership, LLC, or corporation)
• Get an EIN
• Open a separate business banking account
• Get a DUNS number from Dun & Bradstreet
• Get trade credit with vendors and lenders that report to at least one major credit bureau like D&B, Experian Business, or Equifax Business (here’s a list of business cards that report to D&B)
• Always pay invoices on time
• Consistently monitor your business credit reports and promptly resolve issues

Note that you should work on fixing both your personal credit and building your business credit simultaneously, as both are important for raising your business credit score. But if you’re in a situation where personal credit is holding you back, these are good starting points.

Build Business Credit with eCredable

Using business credit cards is a tried-and-true way to build your business credit profile. But it’s not the only option. 

One of the best alternatives to quickly improve your business credit is using eCredable, which reports business utility payments (electric, water, gas, internet), business services (accounting, marketing, web services), and vendor/supplier payments to business credit bureaus. 

Leveraging the payments you normally make like this can rapidly improve your business credit score — reporting both the payments just mentioned, as well as the payments you make to eCredable, which serves as two tradelines. 

Businesses that use eCredable see, on average, a 32-point increase, which can open the door for other business financing opportunities like a small business credit card or loan. Learn more about how eCredable works here. 

Does Chase Business Card Report to Personal Credit? 

Chase generally doesn’t report its business credit cards to the personal credit bureaus as long as your account remains in good standing. However, it may report you for negative activity, like missing one or more monthly payments. 

Here’s what you should know to determine if a Chase business card is right for you, including how Chase’s credit reporting policies work, how to qualify for one of its accounts, and what benefits their best cards offer. 

Which Credit Bureaus Do Chase Business Cards Report To? 

Chase is one of the only major credit card issuers that reports to all three of the primary business credit bureaus, including: 

• Dun & Bradstreet (D&B) 
• Equifax Business 
• Experian Business 

It even reports to the Small Business Financial Exchange (SBFE), putting its business cards in the top tier for building business credit. 

As long as you stay up to date on your payments, Chase generally keeps your business cards out of your personal credit report.  

That’s often for the best, as even a card in good standing could potentially increase your personal credit utilization and damage your FICO score if it were to get reported. 

However, negative activity will typically cause Chase to report your business card to the personal credit bureaus, including TransUnion and the consumer divisions of both Equifax and Experian. 

Negative activity generally refers to actions that cost your creditor money and hurt your credit score, such as letting your account fall into delinquency, making late monthly payments, or filing for bankruptcy. 

What Credit Score Is Needed To Get a Chase Business Credit Card? 

Applying for one of Chase’s business credit cards generally involves undergoing a personal credit check.  

That means Chase pulls the credit report associated with your Social Security Number (SSN) from a major personal credit bureau and uses it to calculate your credit score, typically a FICO Score. 

Chase cares about your personal credit score even though you’re applying for a business account because it usually requires small business owners to sign personal guarantees. That lets them hold you liable for the debt if your company defaults. 

Though uncommon, you can qualify for certain business credit cards with only your business’s Employer Identification Number (EIN) and avoid signing a personal guarantee. However, that’s generally not possible with Chase. 

Chase doesn’t publicly confirm the minimum personal credit score you need to qualify for one of its cards, but you can expect it to be good to excellent. That’s typically defined as a FICO score of 670 or higher. 

However, that’s not necessarily set in stone. Some business owners may qualify with scores as low as 640, while others may be rejected with scores above 700.  

Other factors, such as how long you’ve been in business, your annual revenue, or your business credit history may affect your chances. 

Why Is Business Credit Important? 

Business credit is important because some lenders check your business credit score when you apply for certain types of financing. For example, you’ll often need a certain business credit score to qualify for accounts like: 

• Bank financing: Traditional financial institutions like banks and credit unions will often consider your business credit in addition to your personal credit when you apply for a business loan or business line of credit. However, the specific business credit scores they use can vary. 
• SBA loans: SBA loans are insured by the Small Business Administration (SBA), and the governmental agency requires that the lenders they use to facilitate these loans check your FICO Small Business Scoring Service (SBSS) score along with your personal credit score.  
• Corporate cards: These cards are often reserved for separate legal entities with multimillion-dollar annual revenues and a certain number of employees, but if your organization ever reaches that scale, you’ll need good business credit to qualify for a corporate credit card with your business's EIN. 

Ultimately, business credit has a huge impact on your business’s reputation and creditworthiness. Strong business credit can help you attract lenders, suppliers, and investors, while poor business credit can scare them away. 

Benefits of Reporting to Business Credit Bureaus 

The primary benefit of reporting your credit accounts to a business credit bureau is that it helps you build business credit by establishing tradelines in your business credit reports. You need a certain number of them to generate your business credit scores. 

For example, you must have at least three tradelines in your D&B report for lenders to calculate a PAYDEX Score for you. The PAYDEX Score is one of D&B’s most popular business scores, and many lenders and vendors will check it before working with you. 

There are two types of tradelines you can have reported to the business credit bureaus: 

• Vendor tradelines: These are credit accounts you receive from businesses that don’t specialize in issuing credit, such as suppliers or service providers. It typically refers to extended invoice repayment terms, such as net 30 accounts. 
• Financial tradelines: These are traditional credit accounts you receive from a specialized lending entity, such as a bank, credit union, or online lender. They include accounts like business loans, credit cards, and lines of credit. 

Once again, the better your business credit score, the more external parties will be interested in working with you.  

It’ll be much easier to secure business financing, raise funds from investors, and partner with vendors with a business credit report full of positive tradelines your creditors have reported. 

What Types of Credit Card Activity Are Reported to the Credit Bureaus? 

You can split small business credit card activities into two primary categories: positive and negative. Generally, positive activities are those that contribute to your credit score, while negative activities hurt your credit score. 

Credit card issuers all have their own policies on which types of activities they report and to which credit bureaus.  

For example, Chase reports to all the business credit bureaus whatever type of activity you have but only reports to the consumer credit bureaus if you have negative activities. 

Regardless, credit card issuers typically report the same details about your credit card account in all cases, often including: 

• Date of account opening 
• Account status as open or closed 
• Date the account was closed, if any 
• Length and timeliness of payment history 
• Current outstanding balance 
• Maximum credit limit 
• Last payment amount and date 
• Amount past due or sent to collections, if any 

You can often find these details about your credit cards reflected in your credit reports. 

Can You Build Business Credit With Chase Business Cards? 

Chase business credit cards are among the best for building business credit because Chase reports them to all three major business credit bureaus and the SBFE.  

As a result, the accounts have a chance to contribute to all your business credit reports and scores. 

As we explore in more detail in our article, Which Business Credit Cards Report to Dun & Bradstreet, here are the business credit reporting policies of some of the other most popular credit card issuers: 

Credit Card Issuer	Dun & Bradstreet	Equifax	Experian	SBFE
American Express	Yes*	No	No	Yes
Bank of America	No	No	No	Yes
Capital One	Yes	Yes	Yes	Yes
Chase	Yes	Yes	Yes	Yes
Citi	Yes	Yes	Yes	Yes
Discover	Yes	Yes	Yes	Yes
U.S. Bank	Yes	No	No	Yes
Wells Fargo	Yes	No	No	Yes

Do Business Credit Cards Affect Personal Credit? 

Applying for a business credit card often involves signing a personal guarantee and undergoing a personal credit check. That can temporarily lower your personal credit score, but not by much, and they usually only factor into your score for one year. 

Otherwise, whether a business credit card affects your personal credit depends on your card issuer’s reporting policy. If they report you to the personal credit bureaus for positive or negative activity, it’s possible for the card to impact your personal credit. 

As we explore further in our other article, Which Business Credit Cards Do Not Report Personal Credit, here are some of the most popular business credit card issuers’ personal credit reporting policies: 

Credit Card Issuer	Positive Activity Reported to Personal Credit	Negative Activity Reported to Personal Credit
American Express	No	Yes
Bank of America	No	No
Capital One	Yes	Yes
Chase	No	Yes
Citi	No	No
Discover	Yes	Yes
U.S. Bank	No	No
Wells Fargo	No	No

Reporting business credit cards to the personal credit bureaus is far from a universal practice, and it’s especially rare for positive activity. As a result, your business cards probably won’t affect your personal credit much as long as you make timely payments. 

Top 2 Recommended Chase Business Cards 

Chase’s Ink Business Cash and Ink Business Preferred cards are two of its best business credit cards and among its most popular. Here’s what you should know to determine which is the best credit card for your business. 

1. Chase Ink Business Cash Card 

The Chase Ink Business Cash Card is a great cash-back card if you have many purchases in the categories it rewards most, especially if you expect your spending to be within $25K for the year. 

Here’s what the account currently offers: 

• Get $350 cash back when you spend $3,000 on purchases in the first three months 
• Get an additional $400 cash back when you spend $6,000 in the first six months 
• Earn 5% cash back on your first $25K in annual combined purchases at office supply stores and on internet, cable, and phone services 
• Earn 2% cash back in annual combined purchases at gas stations and restaurants 
• Earn 1% cash back on all other purchases 
• Pay no annual fee 

In addition, the Chase Ink Cash card includes a 0% annual percentage rate (APR) introductory period of 12 months. In other words, your purchases won’t accrue any interest during that time. 

2. Chase Ink Business Preferred Card 

The Chase Ink Business Preferred is another attractive Chase credit card that might be a better fit than the Ink Business Cash if you expect to have significant annual spending, especially if your costs include travel and advertising purchases. 

Here are the card’s current rewards: 

• Get 90K bonus points when you spend $8,000 on purchases in the first three months 
• Earn 3x points per dollar on the first $150K in annual combined shipping, travel, internet, cable, phone, and certain advertising purchases 
• Earn 1x point per dollar on all other purchases 

The Chase Ink Business Preferred carries a $95 annual fee. If you’d prefer to avoid that or are interested in having no interest on purchases, you might prefer a Chase card like the Ink Business Cash. 

How eCredable Can Help You Build Business Credit 

Building business credit generally requires that you open a mix of vendor and financial tradelines.  

Many business owners start with vendor tradelines since they’re easier to qualify for, but opening a dozen different net 30 accounts is time-consuming and often surprisingly expensive. 

eCredable’s Business Lift program is often a much more efficient and affordable solution. We can report the recurring business expenses you already pay, such as rent and utilities, to the business credit bureaus, transforming them into vendor tradelines. 

Even better, you can claim up to 24 months of historical payments, which can add two years of payment history to your business credit report. It’s one of the few ways to build credit quickly, safely, and sustainably. 

Sign up for eCredable today to take the shortcut to better business credit. 

 

 

Does Capital One Business Card Report to Personal Credit? 

Most business credit cards do not report to the personal credit bureaus unless a payment is late or has defaulted. 

In Capital One’s business credit card case, this is also true. Payments are only reported to the personal credit bureaus if they are late or missing. 

Also, Capital One is only one of a handful of business credit card companies that report to all three major business credit bureaus.  

Which Credit Bureaus Do Capital One Business Cards Report To? 

Again, very few business credit card issuers report to all three major business credit bureaus — Dun & Bradstreet, Equifax Business, and Experian Business. But Capital One is a business credit card issuer that does.  

You can learn which business credit cards report to Dun & Bradstreet in this article.  

As we’ll discuss later, this is extremely helpful for building business credit. Reporting positive payment history allows you to increase cash flow while also improving your business credit score.  

In turn, this can open the door for future business financing opportunities like access to the best business credit cards with favorable terms and conditions and no personal guarantee, top-tier business loans, and more.  

From a business credit-building standpoint, this makes Capital One one of the more desirable credit card issuers for business owners.  

However, there’s a drawback because Capital One also reports personal credit to D&B, Equifax, and Experian. This can be problematic if you’re ever late or default with a Capital One business credit card because it can potentially impact your personal credit report.  

As a result, this can make it harder to get a personal credit card or personal loan.  

Because of the inherent volatility and uncertainty that comes with being a business owner, it’s not ideal to have business credit card payment activity reported to personal credit bureaus.  

Therefore, Capital One’s reporting structure is a bit of a double-edged sword in this regard.  

What Credit Score Is Needed to Get a Capital One Business Credit Card? 

The exact credit score needed will depend on the particular Capital One business credit card you’re applying for. But generally speaking, Capital One business credit cards require you to have good to excellent credit with a minimum score of 670. 

That said, the Capital One Spark Classic is less stringent with its requirements, and some business owners may be eligible with a personal credit score of just 630.  

This card isn’t as robust with its rewards as other Capital One credit cards, but it should be an option if you only have fair personal credit.  

But collectively speaking, you’ll typically want to have a credit score of at least 670 to have a realistic chance of being approved for a Capital One small business card. However, having a 690 or higher is preferred.  

Why Is Business Credit Important? 

Building business credit is a critical precursor to business success because it’s instrumental in unlocking business cash flow and overall financing opportunities.  

Reporting business credit card activity where you make payments on time or in advance shows that you’re trustworthy. In turn, this helps improve your business credit report, which is one of the main factors lenders, vendors, and credit card issuers look at when determining eligibility.  

If, for example, you were applying for a different business card later on with great credit card benefits and minimal interest, you would have better odds of being approved if you had a solid business credit report.  

Or, if you were applying for a business loan, you would stand a better chance of obtaining it by having a strong credit score.  

At the end of the day, building business credit helps lay the foundation for access to business financing, as well as more desirable terms, lower interest, a higher credit limit, and more.  

Also note that having good business credit may also prevent you from having to put up your personal assets through a personal guarantee to obtain financing, which can also positively impact your personal credit. 

Once you gain momentum by building business credit, it creates a positive cycle where it makes it easier to qualify for additional financing, which helps strengthen your business credit profile even more. So as a business owner, maximizing your credit score should be a top priority.  

Benefits of Reporting to Business Credit Bureaus 

Reporting business credit card activity to at least one major business credit bureau sets the framework for improving your business credit. It works on the same premise as reporting consumer credit card activity to personal credit bureaus to help raise your personal credit score.  

By being responsible with your payments, it signals to lenders that you’re creditworthy and unlikely to be late or default. Having a strong business credit report provides quantifiable proof that lenders can trust you to pay back what you borrow on time.  

As a result, this makes it easier to qualify for future business financing. It can help you get better terms like lower interest, a higher credit limit, an unsecured card instead of a secured credit card, and more comprehensive rewards.  

You may even qualify for vendor discounts if you have a proven track record of consistently being on time with your payments.  

And it all starts by reporting business credit card activity to business credit bureaus.  

What Types of Credit Card Activity Are Reported to the Credit Bureaus? 

First off, payment activity is reported, which includes when payments are made on time, in advance, or late. This is one of the main factors that determines your business credit score, so business credit bureaus keep a close eye on payment activity.  

Next, there’s credit utilization, which is how much of your available credit limit is being used at any given time. If, for instance, your business credit card has a credit limit of $20,000 and you’re using $5,000, your credit utilization rate would be 25%.  

Like with a personal card, most experts suggest that business owners try to keep their business credit utilization under 30%, as this signals to lenders that you’re responsible with your business finances.  

There are also new business credit card accounts and closed business credit card accounts. For example, opening a new account can increase your overall credit limit, which can, in turn, lower your credit utilization ratio.  

On the other hand, closing an account can decrease your overall credit limit, thus increasing your credit utilization ratio, which can potentially be detrimental.  

Can You Build Business Credit with Capital One Business Cards? 

Yes. Capital One business cards are great for building business credit.  

As we mentioned earlier, it’s rare for a business credit card issuer to report to all three major business credit bureaus.  

As long as you always make payments on time or in advance, this should help improve your business credit profile.  

The only catch is that Capital One also reports to personal credit bureaus. So if you’re ever late or miss a payment, not only can this harm your business credit report, but it can also hurt your personal credit report.  

Therefore, if you decide to use any of Capital One’s business credit cards, it’s crucial that you understand the risk that comes along with it and be 100% on time with your payments.  

Otherwise, any late payments or default can spill over to your personal credit report, which isn’t a position you want to be in.  

Do Business Credit Cards Affect Personal Credit? 

Whether or not a business credit card affects personal credit is determined by if it reports to a consumer credit bureau.  

In the case of Capital One, it does report to personal credit bureaus. Therefore, it impacts your personal credit.  

So if you’re late or miss a payment, the negative mark will be reported to personal credit bureaus, which can lower your personal credit score.  

However, if a business credit card does not report to personal credit bureaus, it won’t affect your personal credit score.  

For instance, Bank of America business credit cards don’t report to personal credit bureaus unless it is with the SBFE. This means that if you’re late or miss a payment, it can hurt your business credit report but your personal credit won’t be affected.  

While reporting to business credit bureaus is beneficial and a critical part of establishing business credit, reporting to a personal credit bureau has the potential to damage your personal credit report.  

If you want to learn more, we wrote an article about which business credit cards do not report to personal credit.  

Top 2 Recommended Capital One Business Cards 

Spark 1.5% Cash Select 

First, let us say that this card is intended for business owners with excellent credit.  

With it, you earn 1.5% cash back on all business purchases and 5% on hotels and rental cars booked through Capital One Travel. You also get a $500 cash bonus if you spend at least $4,500 within the first three months of opening your account.  

Unlike the Venture X business card with a $395 annual fee, this card has no annual fee, and you pay a variable APR of 18.49% to 24.49%, depending on your creditworthiness. Just note that a personal guarantee is required.  

While the Spark 1.5% Cash Select card won’t be the best credit card for business owners with less than excellent credit, it’s one of the best credit cards if you do have a strong credit report.  

It allows you to continue to build your business credit while increasing cash flow and leveraging fairly robust rewards. 

If you’re looking for one of the best travel credit cards, check out the Capital One Venture Card.  

Spark 1% Classic 

If you have fair credit and don’t think you’d qualify for a Capital One Spark Business 1.5% card, Spark 1% Classic is an excellent alternative.  

You can earn 1% cash back on all business purchases and 5% cash back on rental cars and hotels.  

Just note that there’s a higher variable APR of 29.99%, which, admittedly, doesn’t make it one of the best APR credit cards.   

Also, like the 1.5% Capital One Spark Cash card, there’s no annual fee, and you can take advantage of the built-in expense management tools, convenient digital payments, and other perks.  

How eCredable Can Help You Build Business Credit 

Using business credit cards responsibly is a tried and true strategy for building business credit. But it also has its flaws.  

If you use a card that reports to personal credit bureaus and you’re late or miss a payment, this can harm your personal credit profile. There’s also the potential for overspending, and it often takes time to see a tangible boost to your business credit.  

An excellent alternative to business credit cards is using a tool like eCredable to report your business utilities, vendor and supplier payments, and business services like marketing and accounting.  

Getting corporate information set up is easy, and once your business accounts are synced, you can leverage eCredable to build business credit by simply paying the bills you would normally.  

We automatically attempt to download up to the last 24 months of business payment activity. And the impact can be substantial, with many business owners seeing a 40% boost within the first three months.  

You can see the full details about how eCredable works and get started here.