This may be a drawback for businesses, especially those that are still in the early stages of operation. Still, it’s a good option to consider for businesses looking for a credit card that doesn’t require a personal guarantee. Brex offers two business cards with no personal guarantee required. These are both charge cards, and must be paid off in full without carrying a balance. The difference between them is that one card must be paid off monthly, and the other daily.
But as long as you have a solid business credit history, you can take advantage of this gas card. You can also use Airbase to monitor purchases and set hard limits on how much employees can spend. Several business travel cards permit transferring rewards to airline or hotel loyalty programs, potentially increasing the value of your rewards. Some cards, such as the Ink Business Preferred® Credit Card, even provide bonus value when redeemed through the issuer’s travel portal. We’ll take an in-depth look at the Divvy Business Card and analyze its features, rewards program, and other aspects to help you decide if it’s the right card for your business.
The Divvy Card operates a fast application process that requires only six steps and may result in a near-instant underwriting (depending upon the business’s cash supply and income). Divvy also operates several different underwriting forms – the company even boasts an internal underwriting team for new applicants. Traditional and cash underwriting are offered as well, making it easy for companies to find a bespoke credit line for their unique needs.
Although some users can access this business credit card without a personal guarantee, it’s difficult to waive the PG. Whether or not you should sign up for the Divvy card depends on how much value you’re planning on getting out of the card. Many other business credit cards provide valuable sign-up bonuses, annual statement credits worth hundreds of dollars and premium perks you won’t find on the Divvy card. That’s because Divvy started out as free financial software for businesses, and the Divvy card came later.
- However, if you’re looking for a card with more consistent rewards or one that doesn’t require such frequent bill payments, there are other options on the market that may better suit your needs.
- Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
- You can also use Airbase to monitor purchases and set hard limits on how much employees can spend.
† To check the rates and terms you qualify for, one or more soft credit pulls will be done by SuperMoney, and/or SuperMoney’s lending partners, that will not affect your credit score. Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit. Yes, Divvy Business Credit Card offers a rewards program to its customers. The rewards program allows you to earn cash with every purchase you make.
Airbase Corporate Card
Or envision the user who customized these tools receiving an automatic email sent to request a review once an invoice has been generated. They use APIs (“application programming interfaces”) to partner with one another and integrate into a unique-to-you solution. For a full explainer on how this works, check out the understandable guide from the web authentication gurus at Auth0. By contrast, banks do the opposite, charging fees that often negate any interest earned. Software publishers refer to your bank statements and financial reports as “dead data.” They’re a snapshot of information about the past. Future-fluent products show real-time, granular data as it happens.
Business credit cards also have restrictions on use for payroll, mortgage or rent payments, and certain types of invoices. Users can earn points every time they use their credit cards for new businesses with no credit history to pay for travel, food, and even marketing strategies like digital ads.
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However, business owners need a good personal credit to qualify for the card. While Bremer Bank offers business credit cards with no personal guarantee, it does require a good credit score (at least 780 or better). This business credit card lets you make purchases at Office Depot and OfficeMax stores, both in-person and online. However, if you want to avoid the PG with this card, you’ll need at least three years of business history and a minimum of $5 million in annual sales. If your business is at that size, you likely can qualify for a corporate card, such as Ramp or Brex, that offers rewards. Many of today’s best business credit cards can help ease the pain of managing expenses thanks to built-in tracking tools, accounting software integrations and spend controls. Here’s what you need to know about the Divvy Business Card, a corporate card that offers all those features and more.
These cards are generally reserved for larger businesses with an established credit history. As such, the average small business owner won’t be able to apply successfully for a credit card with no personal guarantee. Divvy’s flexible business credit card is more like a credit line with a fast application process and varying degrees of approval requirements for companies of all types and sizes. Large corporations can receive limits up to $15,000,000, while a small business owner is more likely is get approved for $50,000 or less. It’s difficult to compare the Divvy Smart Credit Card for Business to business credit cards in terms of interest rates, though Divvy does say it doesn’t charge any fees.
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Your company will be able to have as many cards made as your team needs without incurring any extra fees for doing so. Both companies allow the account owner to supervise spending limits by setting up automatic restrictions. More traditional business banking products like lines of credit and business loans require a personal guarantee from the business owner. This means if the company can’t make payments, the individual is on the hook for all debts.