If you are a business owner, you may decide that you want to use business cards that do not report to personal credit bureaus. This helps you to keep your personal credit score healthy and ensure that business troubles will not affect your personal credit history.
There are quite a few business cards that don’t report to personal credit agencies on the market, including options from Citi, Wells Fargo, and Bank of America. Some other business cards do not report to personal credit unless you have fallen into delinquency or other negative banking issues. These providers include Chase, American Express, and U.S. Bank.
Below we will give you a breakdown of five of the best business cards that don’t report to personal credit. We will give you a breakdown of the terms, benefits, and requirements for each card to help you make an informed decision.
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Best for Small Businesses
What are the Pros and Cons of Using Business Cards that Don’t Report to Personal Credit?
Before we delve into our descriptions, you need to be aware that choosing one of these cards means that you can't build up a personal credit history with these cards. You will only be able to build business credit. But you can also be confident that negative card activities won't affect your personal credit score.
Pros of Business Cards that Do Not Report Personal Credit
- Ensure that your personal credit score remains unaffected by business credit card activity.
- You can build up a separate business credit score which will allow your company access to better benefits and larger business loans.
- Keep your business and personal finances completely separate.
- Helps to keep your Credit Utilization low which will help your personal credit score.
Cons of Business Cards that Don’t Report Personal Credit
- Small business owners and sole traders won't be able to build personal credit or improve their credit scores by paying on time on their business cards.
- Most business credit card issuers will require a personal guarantee. This means that although your personal credit history isn't at risk - your personal possessions may be.
What is a Personal Guarantee on a Business Card?
You need to be aware that when you apply for business cards that do not report personal credit, you will need to provide a personal guarantee. This means that you are agreeing to pay charges that your business defaults on.
If your business goes into substantial amounts of debt, then the actions of a court or collections agency can still affect your personal credit score. it will usually be the court that contacts the bureaus rather than your business card provider. So, you need to be aware that having your personal credit score and personal assets protected are two separate processes.
Which Business Cards Do Not Report Personal Credit?
Below we will give you a breakdown of the best business cards that do not report personal credit. Take a look at the features and benefits below and evaluate which would be the best fit for your company's spending and practices.
- 0% Introductory APR (Normally 7.99% prime and 17.99% on purchases.)
- $0 Annual Fee.
- You need good to excellent credit to apply.
- $300 cashback bonus (or 30,000 points) when you spend at least $3,000 within the first three months of opening your account.
- No foreign transaction fees.
- Interest-free financing on purchases for the first nine monthly billing cycles.
- Your payment history will be reported back to the business credit bureaus allowing you to build a credit history for your organization.
Wells Fargo offers Platinum Business Cards that do not report to personal credit and offer great flexibility when it comes to benefits and rewards.
You can choose between either $1 for each dollar you spend on your business card or else earn 1.5% cash back on eligible business purchases. If you spend at least $1,000 each billing cycle you will also be rewarded with another 1,000 points!
This makes it a great option for those looking for small business credit cards, so they can start racking up rewards with relatively little quarterly spending.
- 0% APR for an introductory period of 20 months.
- No Annual Fee.
- Extended pay option for those who qualify, allowing you to divide business purchases into affordable payments with no added interest!
- No rewards or bonuses for your business spending.
This is a no-frills option for business cards that don't report to personal credit which will help you to keep your banking charges as low as possible. You may also qualify for the extended payment option if you need to buy larger items for your company that you can't pay for outright.
The $0 APR for 20 months is the longest APR option available amongst our picks of the best business cards that don’t report to personal credit bureaus and this should make it especially helpful to newer business owners with less capital.
- No Introductory APR offer - 17.49% from start.
- $0 Annual Fee.
- You need a credit history that is good to excellent to apply.
- 4% cash back on business fuel purchases in eligible gas stations across the US for the first $7,000 spent ($1 cashback afterward.)
- 3% cash back on restaurant and travel expenses.
- 2% cash back on Costco purchases.
- 1% cash back on all other purchases.
These business cards that don’t report to personal credit offer business owners great opportunities to build up cash back on business purchases from the get-go and would be a particularly good fit for companies that have a lot of fuel costs involved in their operation.
You will however have to pay for a Costco membership to successfully apply for this card. After this, you can spend reward certificates on merchandise at a Costco warehouse or exchange them for cash.
- 0% APR for the first 15 billing cycles.
- No introductory APR, 18.24-27.24% variable APR.
- $0 Annual Fee.
- You need to have good to excellent credit to apply.
- 3% cash back on purchases at qualifying office supply stores, gas stations, and cell providers.
- 1% cash back on all other purchases.
- $500 cash back after you spend $4,500 within the first 150 days of opening the account.
These business cards that do not report to personal credit from U.S. Bank are another great option if you are looking to build up cash back or rewards with your everyday business spending on office equipment and fuel.
Although there is no introductory APR - the ongoing rate is relatively low, there is no annual fee and plenty of cash opportunities and rewards. U.S. Bank also offers businesses interest-free financing on purchases and transfers for the first 15 monthly billing cycles.
- No introductory APR (18,24% to 27.24% APR variable.)
- No Annual Fee for the first year. ($99 afterward.)
- You need good to excellent credit when applying.
- 65,000 American Airlines AAdvantage bonus points after spending $4,000 on eligible purchases within the first four months of your account opening.
- 2x miles for each dollar you spend on American Airlines purchases.
- 2x miles for spending with partners including car rental organizations, telecommunication companies, and satellite providers.
If running your company involves lots of business travel for meetings and presentations, then this card is a great option for you. You can earn lots of air miles for future air travel while taking American Airlines to get to current meetings.
You'll also be able to enjoy some great perks while you travel such as priority boarding, one free checked bag, and access to some airport lounges!
Summary: Which Business Credit Cards Do Not Report Personal Credit?
Choosing between the business cards that do not report to personal credit can seem an overwhelming prospect. However, taking a look at the cards we have listed above is a great start. Assess the benefits and costs against your current business practices and you should soon have a clear idea of the business cards that don’t report to personal credit for your organization.
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