They could be useful if they report. If they do not report, their usefulness is limited.
If you are looking for a business card that is easier to get that reports to business credit bureaus look at the Capital One Spark Classic. The limits do not usually start above $2K but it is a very easy card to get. Its the one with no SUB and no intro APR. Cap1 says for "average credit". All their other business cards say "excellent credit".
it doed report to your personal credit but in your case that might actually help.
It should be noted that they are only available in specific states at this time.
Currently accepting applications in Arizona, Colorado, Illinois, Indiana, Michigan, Nevada, North Carolina, Texas, and Washington, with more coming soon
Regardless, if they do not report, they could still be used as a reference if you have the right contact info, but if they do, that does cut down on needing to provide reference (though its usually best to provide such reference to those who dont pull DNB or a specific CRA that hatch might report too).
You're braver than I am, I certainly wouldn't have allowed access to my bank account to a company I never heard of! lol
Congratz on sucuring a fairly easy LOC though!
I contacted them. They said they don't report anywhere. I guess if you have a small home based business and you need the cash flow or some way to separate expenses they could be useful. But imo "starter" accounts like this are most useful to people building business credit only if they report. I hope they reconsider since they are a new startup.
Has anyone ever heard of this company?
I applied with them on Tuesday and was approved today (Friday) with a $3,000 limit. This doesn't appear to have any business credit building value, but it's a free tool in the toolbox just in case needed for anything in an emergency.
I was approved for this card recently. They gave me an $800 starting SL. I looked and looked, but I didn't see any language about a personal guarantee. They didn't pull my personal credit at all and they overnighted me the card (a surprise).