Anyone who lives, works, worships, volunteers, attends school or owns a business in Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina and/or Wilson County, Texas is eligible for membership. Businesses must have a physical presence in one or more of these counties. You are also eligible for membership if you are immediate family of a current member.
Congratulations on the exciting new venture of owning your own business. When it comes to getting a credit card for your startup, there are a few important things to know.
Getting a business credit card under the company’s credit only isn’t always possible when you have a startup. Business credit cards without a personal guarantee are only available to established companies. Typically the company must have been in business at least 2 years, have profits/strong margins and already have existing lines of credit.
It’s not the end of road, however. Your other option would be to apply for a card for your startup with a personal guarantee, which simply means you would apply for the credit card under your personal credit. The nice thing about this approach is that it makes a credit card for startup businesses possible. You will be able to enjoy the lucrative rewards these cards offer, as well as their added protection on your purchases. The pitfall is that if anything goes wrong, you will be held personally liable for the debt and that will be reflected on your credit report.
Or you can always wait until your company has fulfilled all of the requirements necessary to apply for the card under the company’s credit only.
Ultimately, the decision is yours. Visit with one of our Business Specialists to see which option may be right for your business.
To be eligible for these products and services, you must live, work, worship, volunteer, attend school or own a business in Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina and/or Wilson County, Texas. You are also eligible for membership if you are immediate family of a current member.