nitrobass24

A friend and I recently started a business together and we wanted to get a credit card for the business to pay for operational expenses instead of writing checks.

I realize this is a travel forum, but there is a wealth of knowledge here that I hope to tap.

We have approximately 700/mo in operational expenses that I can pay with credit card. The basic bills.

We also do approximately 20k month in purchases from suppliers. Only snag here is they only do checks and wires...not sure if there is a way around this, but I thought I would add just in case.

My biggest concern is not the points/cash back although I do want to maximize this. My main concern is the impact on our personal credit and liability.

Can I get a card that is in the name of the business?
Will our personal credits be impacted?
Will we be personally liable for the debts (I don't plan on defaulting, but startups do fail and I want to protect ourselves)?

Finally card suggestions.

TIA

mia

In the USA "business" cards are issued based on the creditworthiness of the individual applicant. There will be an inquiry ("hard pull") on your credit report, but the account will typically not be reported unless you default. The applicant is personally responsible for the entire balance, even if others used the account or own a portion of the business. All of this will be clear if you read the terms of the application.

pgary

The INK Bold and Ink Plus Business cards - 5X for certain business expenses, plus a nice 50K bonus. $5K spend requirement in three months.

If you can't do that spend, consider such cards as the Starwood business card (10K or 25K bonus, plus 20K points > 25K miles on lots of airlines) and all airline business cards.