Updated about 8 years ago on . Most recent reply
Establishing business credit with personal guarantee?
I have two businesses that I have structured as Llc’s and am currently trying to establish strong business credit with them. I currently have one business card each for both of them through capital one that I got using personal guarantees but the credit limits are very low (1000 and 500 respectively)but I keep the utilization rate sub 20%. My personal credit is mid 700’s and I was curious as to if anyone had any ideas about whether it is best to use personal guarantees or use your tax Id to establish business credit. I am looking for much stronger leverage capabilities and much larger lines of credit.