The Truth Behind the Business Credit Hype!

Get $1,000,000.00 in Unsecured Business Credit without a Social or Personal Guarantee.

You have probably seen one of these adds or one similar to it and are wondering if there is any truth to these amazing claims. I started my search by going to one of the local banks and telling them I was looking for a business credit card without giving them out social or signing a personal guarantee. The banker assured me that this was simply not possible. I spent the rest of the day going around to other well know and some less well know banks and received the same answer, NO.

I have to say that even though I was just doing research for this article it was still pretty discouraging to receive all this negativity. I decided to track down some people who claimed to have obtained business credit without using their social security or without signing a personal guarantee. After going to to some blogs sites, chat rooms and message boards I found someone that claimed to have several business credit cards and agreed to help me get some facts for this article. We will call him Mr. X in this article since he didn't want to reveal his identity.

Mr. X told me that he had 5 Master Cards and Visa Business Cards and agreed to call the customer service line to one of his No personal guarantee credit cards and allow me to listen while he called the new card division and ask some basic question about the way his account was set up.

Needless to say we spent quite a bit of time on hold with his credit card company before a rep came on the phone. I must mention this was a major credit that he had dialed into. The first agent that came on the phone was not sure how Mr. X's account was set up and it had a number where his social was supposed to be but said she was going to have to call the new card division and ask them.

After listening to some more elevator 80's music a new rep finally came on the phone from the new cards division and she verified Mr. X's information before continuing the conversation. Mr. X ask the new cards representative if they had his Social Security and if he had signed a personal guarantee when he had set up this Master Card account. The agent, to my great surprise, responded with, "No sir the only number we have is your Tax ID number we don't have your social security number and no sir you didn't sign a personal guarantee either."

After Mr. X had hung up with the customer service department I told him that I was pretty impressed and relayed all the No's I had gotten from the local banks. He had indicated that there are very few banks that offer this type of program and even the ones that do don't publicize it and even some of the bank reps just aren't aware of it.

Since I had some one that had showed me some evidence that getting Business Credit without giving out your social was possible then I wanted to see really how much credit you could obtain in this way.

I inquired with Mr. X how much unsecured credit he had gotten in this manner and he told me that it was about $25,000 but that he had only been doing this for about 5 months. I asked him how much he thought some one could get ultimately without signing a personal guarantee. He indicated that really you can't get millions of dollar unless you have tax returns and financial statements.

After my conversation with Mr. X I felt like I had pulled back the onion a little further on the truth behind business credit. It seems that it really is possible to get Business Credit with out a Personal Guarantee but a lot of what people are saying is possible is really just hype.

More Info About Obtaining Business Credit
We build business credit for FREE when you buy a shelf corp.