Sams PG Req'd Confirmed

[TMDSCT]

Hi everyone,

I stopped by Sams today to app for their card for a newer LLC I started in 2020 and sure enough the option to apply without a PG is gone!  I supposed it had to end at some point.  I can say this specific LLC was recently approved for Lowes and Conoco without a PG and they're backed by Synchrony as well, but neither of those cards are as useful as Sams IMO.

[JimmiS]

Did the rep tell you this? Some don't know. It used to depend on how you fill out/sign the app. Maybe they finally did, but this feels like Groundhog Day.

[TMDSCT]

The rep scanned my membership card and turned the tablet over to me, so I stepped through the entire application myself and there was no option to uncheck the PG box like there used to be.  If you did not complete all the PG fields, the continue button was grayed out until you did.

[lindsaydruart]

Did the same recently. It's the same application online as it is in the store. PG is now required. That was the last of the major business credit cards that didn't. RIP!

[indiolatino61]

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@TMDSCT wrote:

Hi everyone,

I stopped by Sams today to app for their card for a newer LLC I started in 2020 and sure enough the option to apply without a PG is gone!  I supposed it had to end at some point.  I can say this specific LLC was recently approved for Lowes and Conoco without a PG and they're backed by Synchrony as well, but neither of those cards are as useful as Sams IMO.

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Does signing a PG (personal guarantee for those who are not familiar) negate the LLC's inherent protections? What LLC business owner would accept signing something that directly negates one of the basic reasons to form an LLC in the first place?

[TMDSCT]

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@indiolatino61 wrote:

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@TMDSCT wrote:

Hi everyone,

I stopped by Sams today to app for their card for a newer LLC I started in 2020 and sure enough the option to apply without a PG is gone!  I supposed it had to end at some point.  I can say this specific LLC was recently approved for Lowes and Conoco without a PG and they're backed by Synchrony as well, but neither of those cards are as useful as Sams IMO.

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Does signing a PG (personal guarantee for those who are not familiar) negate the LLC's inherent protections? What LLC business owner would accept signing something that directly negates one of the basic reasons to form an LLC in the first place?

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I agree, but very few startup are going to have the capital to fund their operations and growth in the beginning and the bank are less willing than ever to assume the risk of business liability only credit issuance.  As I mentioned previously that Synchrony does still offer a few cards without a PG, but I wouldn't be surprised to see those end as well.  One of those is a gas card that I'm sure will be sold to WEX at some point.