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Have You Been Searching For No Personal Guarantee Business Credit Cards?
Searching for no personal guarantee business credit cards can be like looking for a needle in a haystack. Let me be the first one to tell you that the credit card issuers for these types of cards do not advertise! Only the most creditworthy small businesses qualify and receive a pre approval invitation.
Some credit cards like the Sam's Club Discover Business account will waive a personal guarantee if your company has less than $5 million in annual sales or revenues or is less than 2 years old or has fewer than 10 employees.
Now if you're designated as a sole proprietor or partnership then you automatically disqualify and must provide a personal guarantee for this card. That should give you all the more reason to incorporate your business.
With well over 500 business credit cards to choose from only 40 will actually extend credit to businesses without requiring a personal guarantee. But let me remind you that regardless of what you've read or heard it takes much more than simply generating a paydex score to qualify for these cards let alone be invited to apply.
Recently I wrote an article about the myths surrounding corporate credit and the 80 paydex score was ranked #1.
The reason for this was that an 80 paydex with Dun and Bradstreet is said to be like having a 720 personal credit score. But if all you have on your file is four accounts reporting with low credit limits than this hardly qualifies your business as creditworthy in the eyes of these no pg credit card issuers.
As result of this misinformation it's easy to get frustrated and just throw up your hands and say there is no such thing as corporate credit cards without a personal guarantee. Wrong!
Want proof?
Well, I just listed the Sam's Club Discover Business card and there's also the First Equity card to name a few. One of the things I like about the First Equity card is they report your card as a business line of credit to the business credit bureaus which looks very good on your profile.
It's not locating the cards that are difficult when you have access to the right source like the Business Credit Insiders Circle where it provides the no personal guarantee business credit cards to members after they complete a business credit builder system.
The problem lies in getting business owners to understand what it takes to qualify. The other day I received an email from a business owner boasting about his 80 paydex score asking for a list of my no pg business credit cards. The first thing I asked was what types of credit has he established in the business name and what was the highest limits being reported.
It was no surprise to hear that he was only listed with DNB and had 5 positive trade lines with the highest credit limit of $2500. He was no where near being ready to apply for a no pg card and it was apparent to me that he read from another source that all you need is a strong paydex score.
This brings me to another point in qualifying for no pg credit cards. Having only a Dun & Bradstreet file is like having only one personal credit file with the credit reporting agencies. You will need to have a file established with at least the three main business reporting agencies.
To be considered a credit worthy business you must establish a strong credit file with the three main business credit bureaus in order to qualify for a business credit card with no personal guarantee. This includes a good blend of credit like vendor credit lines, a business loan, lease credit and revolving credit.
About the Author
About the Author
Marco Carbajo is founder of the Business Credit Insiders Circle. Want to learn more about
no personal guarantee business credit cards
? Claim Marco's FREE business credit seminar ($597 Value)! Follow Marco on Twitter @MarcoCarbajo and read more of his insights on
building business credit
.
How do you kill powertool while its equipped?
If I use torrential tribute, lightning vortex, needle celling, or black rose dragon on a powertool dragon while its equipped with an equip card, can it use its effect to not be destroyed? My friend says you can, but I am thinking it should be destroyed even if it is equipped because the rulings for mermaid archer say if a card like lightning vortex was played you could not use her effect, which is similar to power tool dragon's effect.
There are four different ways to eliminate power tool dragon while it has an equip card.
1. nuke the field
basically any card that clears both monster and spell/trap zones will destroy power tool since it destroys both the equip card and power tool at the same time.
Examples: final destiny, judgment dragon, arcanite magician/assault mode, black rose dragon
2. return it back to the hand effect (or extra deck in this case :p )
any card that returns a card back to the owners hand will overpass power tool's effect and return back to the extra deck (and annoy your opponent)
examples: compulsory evacuation device, penguin soldier, nightmare penguin, brionac: dragon of the ice barrier, de-synchro, golem sentry.
3. use multiple card destroying effects.
probably not the best way to go but it works. just be aware of how many equip cards are on it.
examples: anything that destroys a monster on the field
4. remove it from play
probably the most evil approach to getting rid of it.
examples: degenrate circuit(combine with #2), dimensional prison
hope this helps!
Knitting Needle Card Toppers Tutorial