ACU of Texas Associated Credit Union Secured Business credit card
Reports to Business Credit Reports
ACU of Texas Associated Credit Union offers a secured business credit card that reports to the business credit reporting agencies.
This is a good starter card for building business credit.
Issued by ACU of Texas Associated Credit Union
Overview/Requirements
- Credit check and personal guarantee required
- Unsecured and Secured Business Credit Cards available
- No annual fee
- Reports to business credit reports
- Must be a ACU of Texas credit union member to apply
Business Credit:
- Reports to business credit reports
To apply go to => https://www.acutx.org/loans/business/business-credit-cards
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No Personal Guarantor
What is a personal guarantee? A personal guarantee is a written promise from a business owner guaranteeing that payment will be made in the event that the business fails to pay.
Whether the business enters into a lease, applies for a business loan or line of credit, you’ll find that many creditors will require a personal guarantee to secure financing especially if you’re a small business.
Corporate charge cards have certain revenue requirements that is large enough and profitable enough that no personal guarantor is required. -
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Obtaining a Corporate Card
Obtaining a corporate credit card account for your business will often require a conversation with a corporate account manager. Be prepared to provide data and documents about your company's financials, including revenue statements and bank account information prior to applying.
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3
Waivable Personal Guarantee Requirements
In some cases, you don't need to meet million dollar+ revenue requirements to obtain a corporate charge card. A small number of charge cards such as the Smart Corporate Card, Brex & Ramp (listed here) have much lower dollar amounts.
There are also retail co-branded business credit cards that offer the option to waive the pg requirement such as the Sam Club Business Credit Card.