Yes, we did. I think our limit was $30,000. We bumped the limit to $100,000 by the close of 1.5 years in business. My business is a law firm and we have 9 employees. Our monthly credit card bill is between $20,000-$40,000.

How much money is the business generating in revenue for each of the last three months? Or is this part of a TikTok scam to run up debt "on an LLC’ and then “dissolve” it?

Could get a cash secured credit card using only EIN. You usually run that for couple years and get a none-secured card. Without you being a personal guarantee, I don’t believe banks will issue business credit cards.

Yup, got 12.5k limit with Chase. I already had an older business account with them with a different LLC though.

Yes, immediately and was given 10K by Bank of America. Your goal is to establish and grow your business…even a 500 card is good to get yourself established.

$60,000, Capital One, opened before we started running as a business. I assume they base it on your personal credit since they ask for your SSN.

I got one same day I opened up. Approved for 15K initially

You can get whatever you qualify for personally. If your personal credit sucks, the business card will be small or non-existent. If your personal credit is awesome, you’ll get a high limit.

In either case, you will be personally liable for 100% of the debt. The LLC means nothing.

It’s laughably easy to get a business credit card from most banks. You don’t even need an actual business. You could fill out the application and put $0 income and still be approved.

They go by your own credit scores…if your 700 plus I can possibly help you. Had a guys gf 743 got her 108k. Usage must be under 30 percent.

Any card you get will be based on personal credit score. The business has zero credit profile or history as of yet.

As I understand it you’re going to be personally guaranteeing any debt your business incurs until your company goes public.

All Business credit cards use your personal credit as a rating to determine your credit worthiness so don’t expect some magical bank to come through with free credit to you becuase “you opened an LLC”. Have some dam sense. Anybody with $99 and internet access can start an LLC. So unless you have good personal credit or actually business revenue exceeding $50k a month that you can actually show, just cut the bs

Business credit is not tired to personal credit; done correctly, it’s based on your EIN. That said, you still need good personal credit in order to be deemed credit-worthy for good business credit cards.

The process of building business credit is not difficult but does take a little time and some understanding of the process.

Forbes.com has a good article titled “How To Build Business Credit In 6 Simple Steps” to get you started. However, it’s important that you follow some pretty basic rules, the first of which is to not get excited about your ability to get new credit cards, and end up in debt by accepting and using too many.

Be smart and do the groundwork first: learn which cards are considered Tier I, Tier II, etc., which cards report to which credit bureau(s), what score each bureau is looking for, and the payment date of your card. Getting the cards in order by Tier and paying on or before time is paramount!

Businesscreditbuilder.US has lots of videos on YouTube that may clear up some of your questions as well. I didn’t use this guy so I can’t speak to whether or not it would be worth paying for his training, but I subscribed to his site, read his email newsletters, and listened to enough of his YouTube videos to know that he covers the same areas I just outlined. Not sure how much he charges for his entire course.

Unfortunately, the young lady who built my business credit has moved on to her true passion project (owning farm land and growing her own produce), and says she’s unsure if she’ll go back to credit building.

The one thing I’m not really fond of with the busines credit builder guy is the continued emphasis on the ability to get 250k in business credit without using your personal credit. Whent he pandemic happened a lot of people who had small businesses applied for pandemic funds, went buck wild shopping with those funds ( a guy in my area bought a lambo (??) using his business credit) and pandemic relief money. I read about his arrest (and several others) in our local “Nextdoor” community newsletter!

While it’s true that you can build your credit to gain access to that kind of money, a newbie could easily get focused on the wrong thing, go crazy with applying for credit, and end up in a boatload of debt unnecessarily.

Keep your personal credit straight, take your time and learn the business credit buidling process, and be smart about using your personal AND business cards according to recommendations.

You’ll be happy you did!