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No offense, but that sounds like terrible advice. Please consult a lawyer or accountant with questions, but corporations do not magically and universally shield
by eli 13y ago
No offense, but that sounds like terrible advice. Please consult a lawyer or accountant with questions, but corporations do not magically and universally shield your side business from incurring debts you have to pay. (And your business credit cards would almost certainly be personally guaranteed -- who would give a credit card to a business with no credit history?)
- aioprisan 13y agoAgain, I should have prefaced this with stating that I am not a lawyer and do not provide legal advice. With a DUNS number, you can open business cards if you have an established history of paying your suppliers and can show sales to other companies. > And your business credit cards would almost certainly be personally guaranteed -- who would give a credit card to a business with no credit history? Not true. While it is easier to get a business credit card if you personally guarantee it from day 1, you can get one using you business identification information. You can get Citi business cards with a DUNS and EIN number. https://www.citicards.com/cards/wv/html/cm/business/know-the-rules/business-credit.html https://www.citicards.com/cards/wv/html/cm/business/know-the... You can also get corporate AMEX cards once your business has $10M in revenue a year. Employee cards only require a SSN to verify identity, not to guarantee them (the regular, business amex cads, however, do).