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Cards for Sole Proprietors??

Still_Here
Established Member

Cards for Sole Proprietors??

Hey all,

 

Which business cards do you have experience with as a sole prop? In particular those that don't report UTIL on your personal CR.

 

What other credit lines, accounts, or benefits were you able to attain as a sole prop?

 

I have a C-corp in development phase, but most of my comp is 1099.  Given the nature of the services I provide for other professionals in our highly regulated industry, I can't roll-up that comp into an LLC, therefore I'm stuck as a sole prop for the B2B side of things. Anyways, I have a ton of CE and other expenses that I would like to shift off my personal cards.

Message 1 of 9
8 REPLIES 8
4sallypat
Valued Contributor

Re: Cards for Sole Proprietors??


@Still_Here wrote:

Hey all,

 

Which business cards do you have experience with as a sole prop? In particular those that don't report UTIL on your personal CR.

 

What other credit lines, accounts, or benefits were you able to attain as a sole prop?

 

I have a C-corp in development phase, but most of my comp is 1099.  Given the nature of the services I provide for other professionals in our highly regulated industry, I can't roll-up that comp into an LLC, therefore I'm stuck as a sole prop for the B2B side of things. Anyways, I have a ton of CE and other expenses that I would like to shift off my personal cards.


I am a "new" sole prop - with 20+ years in business but only showing 9yrs on biz credit with a very thin profile.

 

Recently got the Citizen's Bank Business Mastercard ($5K SL) with a SP to your personal and no reporting to your personal CR. It is a PG card.

Also got the FuelMan Mastercard ($1K SL) with a SP to personal and no reporting to personal CR. It's a fleet fuel card.

 

The next best no PG, no HP, business Mastercard is the Sam's Club card but they require you to apply in person.

 

Another is the American Express line of business cards - I got pre-approved for their Business Platinum card with a juicy SUB to possibly replace my personal Plat which is getting pricey (AF).  SP approval since I am a current customer but does not report to your personal.

Currently I am looking at $0 AF business card from Amex - the Amazon Business Prime revolver card as I have an Amazon business Prime account....

 

Chase is another option with their ink cash card, but Chase does not like me (personal) and they do pull personal credit w/ PG so will pass on them.

 

Also considering getting the new fintech business accounts by Torpago & Divvy.

These fintech credit cards but have shorter net terms so it's more like a charge card.

 

Hope that helps...

Message 2 of 9
SouthJamaica
Mega Contributor

Re: Cards for Sole Proprietors??


@4sallypat wrote:

@Still_Here wrote:

Hey all,

 

Which business cards do you have experience with as a sole prop? In particular those that don't report UTIL on your personal CR.

 

What other credit lines, accounts, or benefits were you able to attain as a sole prop?

 

I have a C-corp in development phase, but most of my comp is 1099.  Given the nature of the services I provide for other professionals in our highly regulated industry, I can't roll-up that comp into an LLC, therefore I'm stuck as a sole prop for the B2B side of things. Anyways, I have a ton of CE and other expenses that I would like to shift off my personal cards.


I am a "new" sole prop - with 20+ years in business but only showing 9yrs on biz credit with a very thin profile.

 

Recently got the Citizen's Bank Business Mastercard ($5K SL) with a SP to your personal and no reporting to your personal CR. It is a PG card.

Also got the FuelMan Mastercard ($1K SL) with a SP to personal and no reporting to personal CR. It's a fleet fuel card.

 

The next best no PG, no HP, business Mastercard is the Sam's Club card but they require you to apply in person.

 

Another is the American Express line of business cards - I got pre-approved for their Business Platinum card with a juicy SUB to possibly replace my personal Plat which is getting pricey (AF).  SP approval since I am a current customer but does not report to your personal.

Currently I am looking at $0 AF business card from Amex - the Amazon Business Prime revolver card as I have an Amazon business Prime account....

 

Chase is another option with their ink cash card, but Chase does not like me (personal) and they do pull personal credit w/ PG so will pass on them.

 

Also considering getting the new fintech business accounts by Torpago & Divvy.

These fintech credit cards but have shorter net terms so it's more like a charge card.

 

Hope that helps...


USB bus triple cash and FNBO Evergreen bus cards are pretty good.

 

Stay away from Capital One, since it triple pulls and reports to personal credit


Total revolving limits 689000 (587000 reporting) FICO 8: EQ 715 TU 712 EX 695

Message 3 of 9
4sallypat
Valued Contributor

Re: Cards for Sole Proprietors??

Oh yeah, FNBO Business is good with generous SL but they will do a HP on your personal CR but not report on your personal unless you default.

 

As for a card to stay away: Discover Business reports to your personal CR.

Message 4 of 9
SouthJamaica
Mega Contributor

Re: Cards for Sole Proprietors??


@4sallypat wrote:

Oh yeah, FNBO Business is good with generous SL but they will do a HP on your personal CR but not report on your personal unless you default.

 

As for a card to stay away: Discover Business reports to your personal CR.


Almost all business bank cards pull one's personal credit for new card applications.  The only one that doesn't usually do it is Amex if you already have an Amex card.


Total revolving limits 689000 (587000 reporting) FICO 8: EQ 715 TU 712 EX 695

Message 5 of 9
rockstar53
Valued Member

Re: Cards for Sole Proprietors??


@4sallypat wrote:

@Still_Here wrote:

Hey all,

 

Which business cards do you have experience with as a sole prop? In particular those that don't report UTIL on your personal CR.

 

What other credit lines, accounts, or benefits were you able to attain as a sole prop?

 

I have a C-corp in development phase, but most of my comp is 1099.  Given the nature of the services I provide for other professionals in our highly regulated industry, I can't roll-up that comp into an LLC, therefore I'm stuck as a sole prop for the B2B side of things. Anyways, I have a ton of CE and other expenses that I would like to shift off my personal cards.


I am a "new" sole prop - with 20+ years in business but only showing 9yrs on biz credit with a very thin profile.

 

Recently got the Citizen's Bank Business Mastercard ($5K SL) with a SP to your personal and no reporting to your personal CR. It is a PG card.

Also got the FuelMan Mastercard ($1K SL) with a SP to personal and no reporting to personal CR. It's a fleet fuel card.

 

The next best no PG, no HP, business Mastercard is the Sam's Club card but they require you to apply in person.

 

Another is the American Express line of business cards - I got pre-approved for their Business Platinum card with a juicy SUB to possibly replace my personal Plat which is getting pricey (AF).  SP approval since I am a current customer but does not report to your personal.

Currently I am looking at $0 AF business card from Amex - the Amazon Business Prime revolver card as I have an Amazon business Prime account....

 

Chase is another option with their ink cash card, but Chase does not like me (personal) and they do pull personal credit w/ PG so will pass on them.

 

Also considering getting the new fintech business accounts by Torpago & Divvy.

These fintech credit cards but have shorter net terms so it's more like a charge card.

 

Hope that helps...


For the Citizen's Bank did they require 2 years financials? Not sure if they are good for businesses less than 2 years old.

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Message 6 of 9
4sallypat
Valued Contributor

Re: Cards for Sole Proprietors??


@rockstar53 wrote:

@4sallypat wrote:

@Still_Here wrote:

Hey all,

 

Which business cards do you have experience with as a sole prop? In particular those that don't report UTIL on your personal CR.

 

What other credit lines, accounts, or benefits were you able to attain as a sole prop?

 

I have a C-corp in development phase, but most of my comp is 1099.  Given the nature of the services I provide for other professionals in our highly regulated industry, I can't roll-up that comp into an LLC, therefore I'm stuck as a sole prop for the B2B side of things. Anyways, I have a ton of CE and other expenses that I would like to shift off my personal cards.


I am a "new" sole prop - with 20+ years in business but only showing 9yrs on biz credit with a very thin profile.

 

Recently got the Citizen's Bank Business Mastercard ($5K SL) with a SP to your personal and no reporting to your personal CR. It is a PG card.

Also got the FuelMan Mastercard ($1K SL) with a SP to personal and no reporting to personal CR. It's a fleet fuel card.

 

The next best no PG, no HP, business Mastercard is the Sam's Club card but they require you to apply in person.

 

Another is the American Express line of business cards - I got pre-approved for their Business Platinum card with a juicy SUB to possibly replace my personal Plat which is getting pricey (AF).  SP approval since I am a current customer but does not report to your personal.

Currently I am looking at $0 AF business card from Amex - the Amazon Business Prime revolver card as I have an Amazon business Prime account....

 

Chase is another option with their ink cash card, but Chase does not like me (personal) and they do pull personal credit w/ PG so will pass on them.

 

Also considering getting the new fintech business accounts by Torpago & Divvy.

These fintech credit cards but have shorter net terms so it's more like a charge card.

 

Hope that helps...


For the Citizen's Bank did they require 2 years financials? Not sure if they are good for businesses less than 2 years old.


Citizen's Business asked for 3 months bank statements only.

Also had to send my EIN, utility bill and state resale permit.

Message 7 of 9
cr101
Established Contributor

Re: Cards for Sole Proprietors??

I recommend AMEX. If you have a personal card with them, there typically won't be a HP. I got 2 biz cards over the course of about 5 days and there was no HP. With AMEX, I believe that there's a limit on the # of personal and biz cards that you can have, though.

 

1 of the easist apps. IIRC, the only biz info that they ask for is revenue and number of yrs in biz.

Message 8 of 9
quikj9
Frequent Contributor

Re: Cards for Sole Proprietors??

I'd second what @cr101 said about AMEX. I just got the BBP as a sole prop that's been in business for 6 months. 

 

The application was super easy and required very little in the way of documentation. 




Message 9 of 9
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