Using at least three business credit cards with no personal guarantee is a crucial step to ensuring that your personal finances are properly separated from your business risks. The most tragic mistakes that new business owners make is mixing their personal assets with their business finances. In the event that your business becomes insolvent, business credit cards with no personal guarantee will keep your personal finances safe from any subsequent collection attempts on unresolved debts.
Having business credit cards with no personal guarantee is the only way you can protect your personal finances as you take business risks
Regardless of how long you have been operating your business, using business credit cards with no personal guarantee is essential to establishing an excellent credit rating with the three business credit reporting agencies: Experian, Dun & Bradstreet and Equifax. When you find yourself in need of a substantial business loan, you will find that the vast majority of business loan providers will be unwilling to work with you if your business does not already have an established credit history. Even if you are not currently in need of much credit for your company's operations, using a few business credit cards with no personal guarantee is the easiest way to establish a solid credit rating for your business.
If you have not done so already, the time is now to begin building or improving your business credit score by applying for some business credit cards with no personal guarantee. Most experts on company financing recommend that you have at least three business credit cards for you company, regardless of how large or small your business may be. At BusinessFinanceCoach.com, we will work with you and quickly establish a excellent credit rating at the three credit reporting agencies through the use of business credit cards and other lines of easily obtained credit.
In order to apply for these types of business credit cards, you will need to be able to provide some basic information about your business, such as your business tax ID number, business license and banking information. However, unlike most forms of credit, business credit cards with no personal guarantee will not be directly tied to your name or social security number. So long as your accounts are in order and you are able to provide some form of business collateral, you are sure to find the perfect business credit card company for your company.
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