A major benefit of these Business Credit Cards is that they DO NOT report on your personal credit reports, but they DO report on your business credit reports. That means if you pay them on time they will help build your business credit scores. For more about building business credit click the "Learn More" button at the bottom of this page.
These cards can be used as cash with no restrictions on the use of funds and all have revolving repayment terms.
For initial approval, these card providers will check the personal credit scores of either the business owner or principal who is listed on the application. That can be anyone who owns 10% or more of the company or any principal officer of the company who is willing to sign (CEO, CFO, President, etc). Be sure to check the personal credit scores of whoever will be listed on the application. You can check scores for FREE by Clicking Here.
Here is what you need for approval:
- If the individual listed on the application has above 680 personal scores, almost all have reported approval.
- If the credit scores are 640 to 680 most businesses have reported being approved but not all.
- If below 680, then the applicant's existing credit card balances should be less than 60% of their total limits.
- In all cases there should be no bankruptcy, liens, judgments or charge offs on the applicant's reports.
- If the applicant's personal credit scores are below 640 they should not apply for these cards.
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Why do we recommend that you apply for this card if you qualify?
- It reports to Equifax and D&B and gets both of these business credit files opened.
- It is a card you can use like cash and the balance only reports history to business credit agencies.
- It can provide working capital up to $50,000 with no annual fee plus Business Rewards.
- 0% APR for 15 months on Balance Transfers, then 7.99% fixed APR thereafter.
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Why do we recommend that you apply for this card if you qualify?
- It reports to Equifax and D&B and gets both of these business credit files opened.
- It is a card you can use like cash and the balance only reports history to business credit agencies.
- It can provide working capital with approvals up to $50,000.
- 0% APR for up to 12 months on purchases and 3.99% intro APR for 6 months on balance transfers.
- Spend $1000 in the first 3 months and get $100 statement credit.
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The above credit cards are a great head start to building business credit but they are by no means the end of that process. Your business needs to build strong business credit scores with Equifax Small Business Financial Exchange, Experian Small Business Credit and Dun & Bradstreet. Our business credit building system guarantees that you can get that done in 120 days.