I have been reading on line to go for a Secured CC.
and that this will help you with building business Credit..
I’m also looking into all of this. Let me know how you make out…..
u don’t .
credit cards for new biz is worst way to lose biz.
stay on cash and carry form.
if u need plastic use dedicated ‘debuit’ cards with Master(slave) card logos.
visit dave ramsey.com to learn what u need b4 u become ex business.
The American Express Gold and Platinum business credit cards are instant approval cards. Also, the Citi Professional card is an instant approval card.
You can use this rewards calculator to see which of those cards will pay you the most in rewards for your expected business spending profile, and also apply for the best one:http://www.creditcardtuneup.com/?card_ty…
There are a lot of great business credit card offers online. A great place to start your search is http://www.smallbusinesscreditcards.net
I don’t think they have any cards with instant approval though.
A true business credit card is a line of credit that is taken in the name of the business, under the business’ credit. Activity, whether good or bad, is reflected on your business’ credit report through D&B and other financial institutions, and the liability for any debts incurred and bills owed is with the business.
However, some companies out there offer “business” credit cards which they require a person guarantee for. These institutions will often ask for a personal guarantee, and will almost always ask for a social security number from the person applying for the card. If this is the case, the credit card is not a business credit card, but is simply a personal credit card which is used for the business. The business is not liable for bills and debts – you are.
When applying for a credit card for your business, watch out for areas asking for your SSN (and not your TaxID or EIN) and be wary of any credit card that asks for a personal guarantee. By ensuring that your credit card is in the name of your business, you can help to build your business’ credit, while avoiding creating problems with your own.
Many companies offer a list of credit cards that are issued under the business name only. Those lists typically run $300-$900, depending on the quality of the information inquiring. I would suggest starting your search online via google or yahoo. Search for “strong business credit” (just like that in quotes) to find services that sell the information.
Good luck,
Ilya Bodner
Small Business Owner
Initial Underwriting Group
September 21st, 2009 at 9:26 pm
I have been reading on line to go for a Secured CC.
and that this will help you with building business Credit..
I’m also looking into all of this. Let me know how you make out…..
September 21st, 2009 at 9:26 pm
u don’t .
credit cards for new biz is worst way to lose biz.
stay on cash and carry form.
if u need plastic use dedicated ‘debuit’ cards with Master(slave) card logos.
visit dave ramsey.com to learn what u need b4 u become ex business.
September 21st, 2009 at 9:26 pm
The American Express Gold and Platinum business credit cards are instant approval cards. Also, the Citi Professional card is an instant approval card.
You can use this rewards calculator to see which of those cards will pay you the most in rewards for your expected business spending profile, and also apply for the best one:http://www.creditcardtuneup.com/?card_ty…
September 21st, 2009 at 9:26 pm
There are a lot of great business credit card offers online. A great place to start your search is http://www.smallbusinesscreditcards.net
I don’t think they have any cards with instant approval though.
September 21st, 2009 at 9:26 pm
A true business credit card is a line of credit that is taken in the name of the business, under the business’ credit. Activity, whether good or bad, is reflected on your business’ credit report through D&B and other financial institutions, and the liability for any debts incurred and bills owed is with the business.
However, some companies out there offer “business” credit cards which they require a person guarantee for. These institutions will often ask for a personal guarantee, and will almost always ask for a social security number from the person applying for the card. If this is the case, the credit card is not a business credit card, but is simply a personal credit card which is used for the business. The business is not liable for bills and debts – you are.
When applying for a credit card for your business, watch out for areas asking for your SSN (and not your TaxID or EIN) and be wary of any credit card that asks for a personal guarantee. By ensuring that your credit card is in the name of your business, you can help to build your business’ credit, while avoiding creating problems with your own.
Many companies offer a list of credit cards that are issued under the business name only. Those lists typically run $300-$900, depending on the quality of the information inquiring. I would suggest starting your search online via google or yahoo. Search for “strong business credit” (just like that in quotes) to find services that sell the information.
Good luck,
Ilya Bodner
Small Business Owner
Initial Underwriting Group