Fundera

SEPTEMBER 13, 2016

When you take out an unsecured business credit card, you don’t have to put down a deposit as collateral for the card in case you can’t pay off your debt. Giving out unsecured credit is a riskier deal for credit card companies, so they only approve cardholders with the best personal credit scores.

Credit Scoring 103

Credit Scoring Credit Card Companies Credit Card Payments Default 103

Fundera

SEPTEMBER 13, 2016

When you take out an unsecured business credit card, you don’t have to put down a deposit as collateral for the card in case you can’t pay off your debt. Giving out unsecured credit is a riskier deal for credit card companies, so they only approve cardholders with the best personal credit scores.

Credit Scoring 103

Credit Scoring Credit Card Companies Credit Card Payments Default 103

CreditStrong for Business

JULY 1, 2024

As a result, lenders give less credence to good behavior on the card, knowing that it’s not necessarily the work of the authorized user. Which Credit Card Companies Report Authorized Users? Becoming an authorized user can be a great way to build credit, but only if the card issuer reports your connection to the account.

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Credit Scoring Credit Card Companies Credit Card Payments Default 52

Fundera

JUNE 5, 2018

If the worst-case scenario occurs, and your business falls behind on their credit card payments, the credit card company can leverage that personal guarantee and seize any and all of your personal financial assets to recoup that missing debt. Don’t put extra-large expenses on your business credit card.

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Credit Scoring Default Small Businesses Credit Card Payments 71

Due

JULY 14, 2023

In addition, 15% of Americans are in credit card debt for over 15 years. Also, nearly half of all Americans have added more credit card debt since March 2020. Even more troubling, 57% of Americans have missed one or more credit card payments — which results in late fees and damages your credit score.

Credit Scoring 52

Credit Scoring Credit Card Companies Credit and Collections Medical Billing 52

Fundera

JULY 5, 2018

With a prepaid business credit or debit card, the user preloads with the value of their choice from a business bank account —which means you can’t spend more than their limit. Prepaid cards also carry logos of major credit card companies like Visa or Mastercard, so they’ll work where most credit cards are accepted.

Credit Scoring 55

Credit Scoring Credit Card Companies Credit Card Payments Default 55

Fundera

NOVEMBER 1, 2018

Prepaid business debit card holders preload their card with however much money they want to spend, ensuring that they never go over their limit or spend more than they can afford. The credit card companies began offering lines of credit that were collateralized with an equal sum of money deposited with the credit card bank.

Small Businesses 49

Small Businesses Credit Card Payments Credit Card Companies Credit and Collections 49