Best Business Credit Cards with No Personal Credit Check

Some business cards don’t require a credit check as long as you meet other requirements, such as revenue and years in business. The majority of these cards, however, are only available to incorporated businesses, leaving sole proprietors with few options.

Stripe Corporate card

Stripe Corporate cards do not need a credit check or a guarantee and do not charge an annual fee. Stripe Corporate cards offer unlimited 1.5% cash back on all purchases, which can be redeemed as statement credits. Because the card offers discounts and credits on business-related software, we chose it as the best card for startups. Stripe payments must already be used by your business to qualify. Stripe Corporate cards are currently only available by invitation.

Pros:

A wide network of major retailers offering significant discounts
All Stripe cards can be set up with spending limits
Your Stripe account automatically categorizes receipts you and your employees send via text or upload
Quickbooks and Expensify are among the popular finance software integrations

Cons:

The rewards rate is relatively low compared to other credit cards for business
Currently only available in the U.S.
Stripe Corporate Cards are available by invitation only.

Ramp Corporate Card

It is a great option for businesses without credit histories to use Ramp’s corporate card. In order to qualify, you simply need an EIN number and $75,000 in a U.S. business bank account. It is also possible that your sales data will qualify you. We usually respond within minutes after you apply, and the process is quick and straightforward.

The Ramp Card comes with no annual fee and offers unlimited 1.5% cashback rewards. Additionally, you won’t be charged any foreign transaction fees when traveling abroad. Charge cards from Ramp come with integrated expense management software, which includes custom spending limits, automatic expense reports, and receipt matching.

Pros:

Personal guarantees are not required
A quick and easy approval process
Cashback on U.S. purchases is unlimited at 1.5%
No annual fee or foreign transaction fee
Provides business credit bureaus with reports

Cons:

An account balance of $75,000 in a business bank account is required
Available only to corporations and LLCs; not available to sole proprietors

OpenSky Secured Visa Credit Card

The OpenSky Secured Visa Credit Card is for individuals seeking to improve their credit score. OpenSky is a secured business credit card that does not require a credit check to be approved. As part of the application process, you are required to pay a refundable security deposit to establish your credit limit. There is no requirement to have a bank account to apply for this card. A money order or Western Union can be used to fund your credit line.

The card reports to all three major credit bureaus, which can improve your credit score more quickly. OpenSky offers tools and educational resources to help users manage their finances and build credit. This card does come with an annual fee, however, and its interest rates might be higher than those of other options.

Pros:

Credit checks are not required for approval
A refundable security deposit determines the credit limit
Each of the three major credit bureaus receives a report
Tools for managing finances and credit education

Cons:

There is an annual fee
The interest rate on this card is higher than some others
Cashback or rewards programs are not available
Benefits are limited beyond credit building

Brex Card

A Brex Card is another corporate credit card that does not require a personal guarantee. Your company’s eligibility and credit limits are determined by its bank balance, expenses, and investors. Brex has higher capital requirements than Ramp unless you have a funded startup.

The card features expense management software, a points-based rewards system, and worldwide acceptance. All transactions earn 1x points, and eligible purchase categories such as ridesharing, travel, restaurants, and software earn bonus points. You can only earn rewards if you make purchases in USD.

Pros:

No annual fee or foreign transaction fee
Personal guarantees are not required
Spend $3,500 and get 30,000 rewards points
A report to the business credit bureaus

Cons:

Businesses may not be able to access high capital requirements
A credit limit of $25,000 or more can be accessed by cardholders with a cash balance of $25,000 or more

BILL Divvy Corporate Card

BILL Divvy is available to registered businesses with EIN numbers and U.S. business bank accounts. The application does require a credit check, but it’s a soft inquiry. This means that applying won’t temporarily affect your credit report. To qualify, you only need fair credit (a FICO score of 650), as other factors, such as your cash on hand, are taken into account. The minimum cash balance requirement for BILL is $20,000.

BILL Divvy offers expense management software and points-based rewards. Most purchases earn one point, and bonus points are available in categories such as restaurants, hotels, and recurring subscriptions to software. However, bonus points can only be earned on the first $5,000 spent per month. When you don’t use your card at all in a month, you lose all accumulated rewards. To earn rewards, you must use 30% of your credit line in a month.

Pros:

There is no annual fee
An additional $20,000 in capital is required
Software for managing expenses
Business credit bureau reports

Cons:

Personal credit check on a soft basis
It is necessary to have a fair to good credit score
Rewards are less generous than on other cards
Transaction fees for foreign transactions

What are the Requirements for Business Credit Cards with No Personal Credit Check?

There may be differences between card issuers in terms of qualification requirements. The application process for a business card without a personal credit check requires both personal and business information. A bank account may also need to be opened or connected, and a certain amount of money may need to be in the account. A minimum annual revenue may be required as part of the qualification process for some corporate charge cards.

How to Get Business Credit Cards with No Personal Credit Check?

Some business credit cards do not require a personal credit check or personal guarantee, including:

Get a Secured Credit Card

Secured credit cards do not require an initial deposit, as they do with traditional credit cards. This initial deposit determines your account’s credit line, which may be several hundred dollars or several thousand dollars. Secured credit cards differ from traditional credit cards in that they base your credit line on the amount of cash you choose to deposit into your account instead of the credit card company’s maximum credit line.

A secured credit card is typically more accessible to people with poor credit or limited credit history because the deposit offers security or collateral for the credit card company. It can also be an alternative to a personal credit check for business credit cards.

Fair to Poor Credit Business Cards are Available

A business credit card that accepts borrowers with fair to poor credit might be a better alternative if you’re worried your personal credit might prevent you from getting approved for a credit card. However, these cards often come with higher interest rates and APRs, even though they are more likely to be approved. The excessive amounts of interest you’ll have to pay make this an unattractive option for long-term expenses that you won’t be able to pay off right away.

Make Use of a Prepaid Debit Card for Business

There is also the option of using a prepaid business debit card. Spending on a prepaid business debit card is linked to cash deposited in a checking account. A debit card does not require a credit check and, in some cases, no linked bank account because the card issuer is not actually providing a credit line. Prepaid debit cards do not report your card activity to major credit bureaus, so keep that in mind. As a result, you won’t be able to build your credit or repair it, which will be important in the long run.

Make Use of a Corporate Card

A corporate credit card may be an option for some businesses. Business credit cards do not require personal guarantees since the company is liable for the debt. Corporate cards can be useful in some situations, but not every business qualifies. Startups and business owners who are not employees may not be able to take advantage of this option.

Apply with a Co-signer

Using a co-signer may be an option if you feel your credit score or credit history will preclude your approval for a business credit card that checks your personal credit. A co-signer is someone who has good or excellent credit and guarantees that you will not default on your credit card. It is possible that you will qualify for a wider range of products if you apply with another applicant with stronger credit. The payment history of your co-signer on the card, however, can affect his or her credit score.

Pros and Cons of Business Credit Cards with No Personal Credit Check

The pros and cons of applying for a business credit card with no credit check should be understood before applying. You should consider the following benefits and drawbacks:

Pros:

The application process is quick and easy
No credit or little credit history is required
Approval is not subject to credit checks
The interest rate is low
Building a business credit score over time

Cons:

There may be a requirement for a personal guarantee
A lower credit limit than a traditional credit card
Benefits and rewards are fewer than with traditional credit cards
There may be a higher collateral requirement for business credit cards with no credit check

How to Choose Business Credit Cards with No Personal Credit Check?

Business credit cards without credit checks are less common than other types of credit cards, so your options are more limited. Even so, you should conduct thorough research on your options. If you are choosing a business card, consider the following:

Consider Your Business’s Needs. Are you looking for a business credit card for any of the following reasons? What is the purpose of this? Is it just to help you separate your business and personal expenses? If that is the case, consider a prepaid card. Is there a particular category of business you are looking to reward? Focus on business cards with rewards if this is the case.
Business Credit Score. There is a credit score for both you and your business. There may be more options available if your business score is high, but your own score isn’t.
Consider Fees and Interest Rates. There are some business credit cards that charge significant annual fees. Consider whether the benefits of an annual fee card outweigh the fee before choosing it. Interest rates are no different. To understand the full financial impact of opening the card, check the interest rate you’ll likely qualify for if you plan on ever carrying a balance.
Consider the Credit Limit of the Card. The higher the credit limit on your card, the better if you plan to make large purchases. Compare the limits and credit requirements of each issuer and choose the one that best meets your needs.
Consider Additional Benefits. Many business credit cards offer features that can help you manage business expenses more efficiently, such as free employee cards, expense tracking tools, and reporting options. Make sure the card you choose includes these perks if you’ll be using them.

Alternative Options to Consider for Business Credit Cards with No Personal Credit Check

If your business needs financing, several alternative financing options are available. With these options, you can increase your financial stability and grow your business without needing to check your credit history. Additionally, they offer credit-building alternatives to credit cards.

Trade credit

Businesses are able to purchase goods and services on credit without having to apply for a credit check. Your business will be able to grow and prosper if you establish a strong relationship with suppliers and consistently make timely payments.

Alternative lending

Alternatively, you can look for alternative lending sources, such as online lenders or peer-to-peer platforms. Many of these platforms offer small business loans without credit checks, and they have more flexible lending criteria.

Invoice factoring

An invoice factoring company buys unpaid invoices from you in exchange for immediate cash. This can improve businesses’ cash flow and allow them to access funds without relying on credit.

Merchant cash advances

The merchant cash advance presents businesses with a lump sum of cash in exchange for a percentage of their future sales. Businesses with a consistent revenue stream may find this option particularly beneficial.

Partnerships

Additionally, businesses can establish joint ventures or partnerships with other businesses. By pooling resources and sharing risks, capital and resources can be accessed without a credit check.

Is a Business Credit Card with No Personal Credit Check Right for You?

There are specific credit products designed for certain cardholders, such as business credit cards without personal credit checks. You might be a good candidate for this type of card if:

Your Business Credit Profile is Strong: Some credit card companies only check your business credit; if your score is good, you may qualify for these cards.
You Don’t Want Your Credit Pulled Hard: If you have too many hard credit checks on your profile, you can temporarily lower your credit score. If you don’t want to risk a decline or your credit score is low, you may be better off with a card that doesn’t run your personal credit.
You Need a Credit Card Fast: Some cards give you access to credit almost immediately, so your employees can earn rewards and spend money on business expenses.

What’s the Difference Between a Personal Credit Check and a Personal Guarantee?

The purpose of a personal credit check is to determine a person’s creditworthiness by examining his or her credit history and credit score. Personal credit checks are typically used by lenders and credit card issuers to determine the individual’s risk level.

Personal guarantees, on the other hand, are agreements that allow an individual to assume responsibility for a business’s debts. If your business defaults, most lenders and card issuers will pursue your personal assets if you provide a personal guarantee.

FAQs

Can I Open a Business Credit Card Without Personal Credit?

There is no need to use your personal credit to open a business credit card, but you will need to give the card issuer no personal guarantee. In addition to opening a secured business credit card account, you may also be able to establish the credit of your business. The availability of business credit cards without personal guarantees and secured credit cards remains limited, so it is recommended that you build some personal credit before applying.

Do Card Issuers Require a Personal Guarantee?

Personal guarantees are often required as part of the application process for credit cards. A prepaid card or co-branded store card does not require a personal guarantee, and most of them are prepaid cards. Your purchases on prepaid cards are not reported to credit bureaus, so you can’t build your personal or business credit with them.

Does a Business Credit Card Usually Require a Personal Credit Check?

Yes. The majority of small businesses require a personal guarantee, which may involve a credit check, to receive a small business credit card without having sufficient collateral in the form of assets or revenue.v