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Secured Business Credit Cards?

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Katrina

Katrina

Joined: 19 Jul 2010
Katrina's page
Posts: 51
Location: Atlanta, GA

1024 Magic Points

Subject: Secured Business Credit Cards?

Tue Jul 20, 2010 12:12 pm

Does anyone know of any other Secured Business Credit Card programs like CSI Global MasterCard? (Which we just applied for and it is taking twice as long as expected.)

BOA and Wells Fargo have both suspended their secured business credit cards. But there must be other cards out there that report to D&B on the business EIN and not on your personal credit. Anyone know of any?

Aaron

Joined: 08 Feb 2010
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Posts: 2675

48566 Magic Points

Subject: reply

Wed Jul 28, 2010 9:57 am

Hi,

There are various other companies too Capital One, Chase, American express that offer business credit cards. However, I am not sure if these are secured ones. I think it is better to talk to these card companies.

Thanks,

Aaron
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Katrina

Katrina

Joined: 19 Jul 2010
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Posts: 51
Location: Atlanta, GA

1024 Magic Points

Wed Jul 28, 2010 11:56 am

Thanks Aaron!

In addition to researching an article, I am in the process of starting a new business (S Corp) and want to start building it's credit profile right away. From experience, I don't want to sign any personal guarantees for extensions of credit. I know it is possible if all the hard work is done in the beginning - but if not done properly, getting company's to take your name off later down the road is a real pain.

Our company hasn't gotten a Paydex yet and I don't think its credit file has even been opened at D&B at this time. We did receive our CSI secured cards yesterday, so should be reported fairly soon. But we have to be established for at least 2 years, a Paydex of 80+ and all the right mix of credit before we are eligible for Amex or Chase. Capital One will take us but they want a PG - and I'm not willing to tie my personal credit up with a business again.

Aaron

Joined: 08 Feb 2010
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Posts: 2675

48566 Magic Points

Subject: business credit

Wed Jul 28, 2010 11:59 am

Wow!!! That is great news Smile

All the best.
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henry123

Joined: 27 Jul 2010
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Posts: 14

180 Magic Points

Mon Aug 02, 2010 10:17 am

You can use Payoneer Master Cards I have recently received one and I can say it is beneficial in each and every case.
Refinance Home Loans

Katrina

Katrina

Joined: 19 Jul 2010
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Posts: 51
Location: Atlanta, GA

1024 Magic Points

Thu Aug 05, 2010 3:01 am

Payoneer is a Prepaid Credit Card - and would not be beneficial in my particular situation as it does not report to the business credit bureaus.

madywilliam

Joined: 06 Aug 2010
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Posts: 1

20 Magic Points

Fri Aug 06, 2010 12:46 pm

Hi,

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daffydatsun
Guest

Subject: Secure Credit Cards

Tue Aug 10, 2010 11:05 pm

The best place I have found to get a secure card is Public Savings Bank. You are guaranteed to get a card with them. Not like the others who put your application through a review process. The only drawback is they charge a $79.99 processing fee. But if you are trying to re-cover from BAD Credit it’s a good deal.

Good luck!

Katrina

Katrina

Joined: 19 Jul 2010
Katrina's page
Posts: 51
Location: Atlanta, GA

1024 Magic Points

Tue Aug 10, 2010 11:42 pm

@ Daffydatsun - I actually put together a list of over 20 secured card issuers on a spread sheet (the thread w/ site info is here http://www.creditmagic.org/card/secured-comparisonchart.html). There are several that don't charge a processing fee and I even found one that offers reward points!

Unfortunately for this thread I believe there is only one secured card program for business credit at this time as I have still not found any current active sources.

Corp Credit Advisor
Guest

Subject: CSI / COMDATA card

Thu May 05, 2011 1:10 am

CSI Global Fleet Mastercard is a COMDATA business credit card scam. They are a total rip off!! DO NOT TRUST YOUR INFORMATION TO THEM!!!!

sdchargers_63

Joined: 13 Aug 2007
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Posts: 1889

1356 Magic Points

Subject: credit

Wed May 18, 2011 12:17 pm

WOW!! At least the forum knows what CC NOT to go with. Can you let us know what your experience is/was with them, please? Thanks.

cgeorge

Joined: 24 Oct 2010
cgeorge's page
Posts: 15

136 Magic Points

Subject: secured business credit card

Thu Jun 09, 2011 4:07 am

CSI did once upon a time but I'm not 100% they still do. I found a site that gives real insight on business credit. http://www.gboogie.net check them out tons of free information..Good luck.

Guest

Subject: So whats interesting?

Sun Oct 23, 2011 9:25 pm

How is everyone? Just got here and wanted to drop in and introduce myself

larry68
Guest

Subject: business secured credit card

Wed Dec 21, 2011 7:26 am

is global a rip off or a standup company for a secured business card

larry68
Guest

Subject: business secured credit card

Wed Dec 21, 2011 7:26 am

is global a rip off or a standup company for a secured business card

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