Questions on corprate cards???

[ugyfd304]

My husband and I own our own business.  We just incorporated in Aug of this year.  We are trying to find a corp. card for the business that won't need a personal gaurantee or pull or credit as we are in the middle of clean duty.  Does anyone know any business cards that won't pull or credit and give a card to a business that has no credit history.  We are in the process of tranfering the loans from before corp over to the corporation.

Any suggestions?

Message Edited by ugyfd304 on 12-03-2007 09:14 AM

[Anonymous]

I have to admit I know nothing about corporate credit cards but I think it would be reasonable to do the following:

If you are on good terms with the banker you've established a relationship with, take him your:
1. balance sheet
2. income statement
3. statement of changes in financial condition(previously called retained earnings statement)

Ask him to open up a corporate cc for you based on your corporations financial statements. Let his responses be your guide in how to proceed.

Sorry I couldn't be more help. I know others will chime in with their opinions/advice.

[Anonymous]

Forgot to add that my first response applies only to fully incorporated businesses.

Does NOT apply to Sub Chapter S Corporations, as principles assume partial or full financial liability for all debts the corporation incurs.

Hope that helps.

[ugyfd304]

We do all of our business banking (and personal for the matter) with B of A.  We already tryied to get a business card with them after repeated calls, e-mails and mailings from them.  Of course they pulled our personal credit so it was a no go.  We have not even been with them for a year as we moved to Florida in Dec 06 and our bank before that was a small town bank.  We have all our current business loans through our old bank in Wisconsin, unfortunatly they are such a small bank they don't have cc's. 

We are filed as a "S Corp"

[Anonymous]

Ok, a sub S corp. hmmm. Anything I say will be total speculation, and I could be wrong. Better wait for someone with experience to chime in and comment.

Sorry I couldn't help you.

[ugyfd304]

That's alright, thank the advice on the bank.  I wish we could got that way.  It would be much easier as they know the amount of money we move around.

[Creditaddict]

you can get cards with office max, office depot, walmart, shell, exxon, staples, home depot etc. without PG. but a lot of them will require you to have some business credit to obtain them without pg.

as far as CREDIT CARDS, you will be VERY hard pressed to get one without PG especially before atleast 2 but probably 3 years of built business credit