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2010-06-17 17:20:18
2010-06-17 17:20:18

Many credit card companies will require that the credit card be guaranteed by the business owner. This means that the credit card would show up on the business owner’s credit report. This might pose a problem if you get into substantial debt.

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For one, I know Bank of America has many small business credit card programs. A small business credit card is always better than using your personal card because the debt is tied to business assets instead of personal assets. Go to www.bankofamerica.com to see what they offer.


For business credit cards you must have a business credit profile. Without a business profile and a business credit score you cannot get a "business" credit card. What you CAN get is a personally guaranteed credit card for business use. What people often fail to realize that by personally signing for a credit card it is STILL a personal credit card. The only difference is that the bank says "this is a business credit card" and it is to be used for business purchases. Consider building up your business credit profile before applying for a real business credit card (a credit card which allows the business to be its own collateral, not you). 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. If your business is a sole prop., you are not going to get a credit card with only your tax id number. Our business has a credit card with our business name on it, however, it shows up on our personal credit report. If your business is a partnership, your local bank may help you get a credit card using your tax id number. Our local bank here in TN worked with us. Internet offers are no help in this situation. We also found a service that guarantees to help you get business credit cards using a tax id, but they wanted $1,500 for the service. Business Credit is separate from Personal credit - that is important to remember as a small business owner. Many business owners, just like in this question, have bad credit but that is not to be confused with business credit. Just like Equifax reports credibility of an individual the business has a credit reporting agency that reports on its stability as well. The key is to get your business registered with the credit reporting agency so that lenders can feel comfortable issues out loans, credit lines, or extended terms to the business. Bad credit or lack of credit is no longer an obstacle that prevents the small business owner from finding financing or funding their small business. Small business loans are available to those who have incorporated their business, have a corporate tax id and are willing to keep up their business profit and the business credit score.


Yes, if you are one of the owners, or sole owner of the company. One other way, would be to apply in the company's name with your self as a principal signer. Business Credit is separate from Personal credit - that is important to remember as a small business owner. Many business owners, just like in this question, have bad credit but that is not to be confused with business credit. Just like Equifax reports credibility of an individual the business has a credit reporting agency that reports on its stability as well. The key is to get your business registered with the credit reporting agency so that lenders can feel confortable issues out loans, credit lines, or extended terms to the business. Bad credit or lack of credit is no longer an obstacle that prevents the small business owner from finding financing or funding their small business. Small business loans are available to those who have incorporated their business, have a corporate tax id and are willing to keep up their business profit and the business credit score. A handful of companies help with that online right now, I suggest searching the web. That will allow you to view the companies that help with that service.


One of the best ways to gain business credit is by establishing your business credit profile using one of the key business credit reporters. You can build business credit by demonstrating a responsible payment history and solid cash flow. Whether or not this can be done quickly depends on your business credit history.


Unsure what the questioner is asking. What kind of credit? Consisting of what? Please re-word and re-submit the questiion.


It could be that your business has reached its credit limit for the month. It could also be that someone using the business credit card is buying something not business related and the credit card company has stopped the card temporarily.


Using an apartment rental agency will cost you more money. They get paid to rent the property. You will have a lot more paper work to fill out. You will also have to have a good credit rating.


The first step to establishing business credit is to register for a D&B D-U-N-S® Number, which is a unique, 9-digit identification number for your business. This can help you establish business credit without using your personal credit.


You can separate your business credit from your personal credit by registering your business as a completely separate entity from your personal credit. One of the best ways to do this is by registering to receive a D&B D-U-N-S® Number for your business, and leveraging your business credit using that number. For more information, visit the related links.


The first step to helping build business credit is to register for a D&B D-U-N-S® Number, which is a unique, 9-digit identification number for your business. This can help you to establish business credit without using your personal credit.


The first step to establishing a business credit is to register for a D&B D-U-N-S® Number, which is a unique, 9-digit identification number for your business. This can allow you to establish business credit without using your personal credit.


There are no 'downfalls' unless you have something to hide. It will tell where you are, how fast you are going, how long you were at a given place. In real time.


The average small business loan funding is $250,000. A couple of businesses qualify for simply $150K even as others can get $500,000 or more.


To help reduce risk, it is important to establish business credit separate from personal credit. This can be done by obtaining a D&B D-U-N-S® Number and tax identification number (EIN) for your business and using those numbers to help build credit.


Yes, whether gaining access to your business line of credit by using bank draft, electronic transfer or by credit card, there are many methods to get cash from your business line of credit without paying exorbitant cash advance fees.


The payback of a small business loan will depend on the interest rate of the lending company. There are many options for loans from government loans, to personal bank loan, to using a credit card company. Investigating your options will minimize the cost.


form_title=Set Up Business Credit Cards form_header=Control and coordinate your business expenses by using credit cards. How many emplyees will need credit cards?=_ What limit will be on each card?=_ What sort of rewards programs are you interested in?=_


Initial Underwriting Group helps small businesses build business credit. They use the concept of personal credit and apply it to the building of business credit at Dun & Bradstreet. Information about initial underwriting was found on: http://www.initialunderwriting.org/personalvsbusinessloan1.HTML Initial Underwriting Groups can also help businesses get lines of credit without using a personal guarantee.


Yes, a small business can be run using Linux. Two popular operating systems are Ubuntu or Linux Mint.


When starting a new business, it can be difficult to use business credit since business credit has yet to be established. However, in order to reduce risk, it is important to keep business credit separate from personal credit. One of the best ways to increase business credit without employing personal credit is to register to receive a D&B D-U-N-S® Number and use one of Dun & Bradstreet Credibility Corp.'s products to help establish credit and leverage your business's credibility.


The format of your business seems to make little difference in the success of taking credit cards, be it a storefront business, an online business or a business that you run from home. However, the option of accepting credit cards could affect the cashflow of a small business owner in several ways. For example, if one of your customers is delinquent on an account, you can call that person and offer them the option of paying by credit card over the phone. In that way, it takes much less time for you to collect your payment, and much less time to process a credit card than to wait for a customer


You take your old credit card and tell the bank you want to duplicate it and then ask for a separate spending card for your business. That way you have a card for you and your administration. Duh, yolo.


Getting a huge business line of credit requires that you prepare a fully developed business plan. You must also convince the loan underwriters and processors that you are a good credit risk, which includes documenting your experience and collateral you will be using for the line of credit.


I would say using Paypal or Paynet Systems would be the best way to handle your credit card part of the business. This will be the most cost effective way to use credit cards for your business.


Low interest business credit cards have much less low risk than high interest credit cards. Less cost is imposed for the person using the credit card.



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