Joined on 03-07-2003
TechSoup Member
Hi, does anyone have any info on obtaining a organization credit card without havin to use someone's personal credit? We want to just use the organization's credit to obtain the card. This will eliminate the need for personal credit card use and reimbursements.
Thanks,
Carol
Hi Carol,
Welcome to TechSoup. I have moved this question to the Technology and Fundraising forum because this is where I think you'll get the most expert advice on this.
I am wondering if you have already contacted a credit card company and asked how you would apply as an organization?
Best wishes,
Joined on 11-04-2008
TechSoup Member
For funding our project in Ukraine I use a prepaid credit card. Mine is issued in the UK by Tuxedo. I created a Facebook book on the subject called something like "Prepaid credit cards as a tool to fight world poverty".
There are many varieties of these cards in Europe and the US all with different charging structures,
Right now I have a problem since where I send the money has frozen out UK Pounds to limit their vulnerability in this crisis.
I still have Ikobo which is more or less an ATM card, though I believe it's got ambitions.
Jeff
Joined on 02-18-2004
New Hampshire
Hi Carol, our org tangled with this problem for a couple of years. We got a new CFO in, and she was able to get a company credit card through the bank that our org has accounts at. They didn't do a credit check, since they know whether our org has money or not. Hope this helps, best of luck to you!
Joined on 08-08-2008
TechSoup Member
I have run into the same thing. Originally the bank where we did business said after our nonprofit had a 5 year track record we could apply for credit without a personal guarantor; I recently contacted them since our 5 year date from incorporation has passed and was told no, they don't do that anymore.
I was able to obtain a Staples credit card without a personal guarantor and at least start to establish some credit history for the nonprofit organization.
Joined on 11-16-2008
TechSoup Member
You will probably have to start out with a debit card off of a company checking account through your local bank until you have a track record. Use staples and similar office supply companies to get some small accounts going to build credit. Usually some offers are given when you first file for a business license. They are not very attractive, but they are a first step to building a credit history on the organization's TIN/EIN instead of an individual's SSN.
Joined on 12-03-2005
TechSoup Member
I sell merchant services. When I set up non-profit accounts my underwriters ask for 3 years audited business financials. Ever since 9/11, financial institutions are required to get one social security number to check it against a database of known "bad people". A merchant services application is basically a credit check, so the social security number usually is for obtaining a credit report, but in the case of non-profits it is possible to not use it for anything except national security.