financial service review

Grasshopper Bank Review for Business Banking, Lending, & More

Key Takeaways

Grasshopper Bank is a digital-only, FDIC-insured institution.
Business accounts earn interest with no monthly fees.
SBA 7(a) and 504 loans support business growth.
Sponsor finance loans help with buyouts and acquisitions.
Commercial real estate and yacht loans start at $1 million.
API banking allows businesses to automate transactions.
Grasshopper has an A+ BBB rating but mixed reviews.
Recent legal challenges may be a concern for some.

If you’re an owner with an interest in digital banking for your small or medium-sized business, Grasshopper bank may have shown up on your radar. If so, surely you have questions about the offer.

When an institution seems like it might be a little too new or a slightly more unconventional than what you’re familiar with, it’s smart to do your research. Here, I lay out everything you need to know about what to expect if you open an account. From a summary of the business banking and funding offer to info about leadership, trust signals, and Grasshopper Bank reviews, here’s the scoop.

This is what’s in store:

What is Grasshopper Bank?
- Company Overview
How Does Grasshopper Bank Work?
What are the main differences between Brex and Grasshopper Bank?
Frequently Asked Questions
Conclusion: Is Grasshopper Bank Legit?

Now, let’s dive in!

What is Grasshopper Bank?

Grasshopper Bank is a digital financial institution serving small businesses, startups, and investors in the so-called “innovation economy”—companies driven by technology, digital tools, and entrepreneurship.

Whether this term reflects tailored services for tech-driven businesses or is just marketing language is unclear.

Either way, the bank offers:

Business checking and savings accounts
SBA lending
Fintech solutions like embedded finance and API banking

You won’t find Grasshopper Bank locations because they’re an online-only institution. Grasshopper emphasizes their client-first approach and use of technology to deliver secure and efficient banking experiences.

You might also like: 6 Best Fintech Credit Cards to Apply for (Consumer & Business)

Company Overview

How long has Grasshopper Bank been in business?

According to Crunchbase, Grasshopper Bancorp, Inc. is a privately-owned, New York-based, “woman-led,” for-profit company that was launched by Judith Erwin in 2016.

However, neither Grasshopper nor Judith Erwin are listed in New York’s Doing Business Portal. However, the company is listed in Delaware’s corporate directory, the FDIC approved their application for insurance in 2018, and they’re headquartered at 915 Broadway, 7th Floor, New York, New York.

Erwin seems to have left Grasshopper in 2021 to pursue private, strategic business consulting. The company’s current CEO is Mike Butler. So, while the company was founded by a woman, it’s not currently woman-led.

Prior to taking the reins at Grasshopper, Butler served as the President of Consumer Finance at KeyCorp and spent nearly 14 years as the President and CEO at Radius Bank.

While Butler seems like he would be a good leader, based on his experience, I was disappointed to see that I couldn’t find specific information about how employees feel about him on Glassdoor.

Still, they’re A+ rated with the Better Business Bureau (BBB), with only 4 total complaints—This is super rare. However, some customer reviews on the BBB website express dissatisfaction, citing issues such as unexpected account closures, lack of communication, and delays in fund returns. They’ve been BBB-accredited since 2024.

And, over on Trustpilot, their TrustScore is above middling at 4.1 stars out of 5, where most reviews are outstanding. Positive feedback highlights knowledgeable and responsive customer service, with 68% of reviewers awarding 5 stars. However, 23% of reviewers rate the bank at 1 star, citing issues like unexpected account closures and “unhelpful security practices.”

And, Reddit reviews (usually the most critical) on Grasshopper Bank are mixed. Some users find it better than traditional banks, but others report slow transactions, account access issues, and poor communication. Common complaints include long mobile deposit times, unexpected fees, and difficulties resolving account problems.

After a quick search for lawsuits, I found that, as of February 16, 2025, Grasshopper Bank is facing legal disputes, including an $8 million loan default lawsuit and a contract-related case in Florida. While lawsuits aren’t unusual for banks, you may want to consider how these issues could impact service, lending policies, or financial stability.

In sum, Grasshopper Bank has been around for at least seven years (as of 2018 when their FDIC insurance was approved), led by experienced executives with mostly positive but mixed customer feedback. While many praise its service, some report account closures and fund access issues. It holds an A+ BBB rating and a solid Trustpilot score, but recent lawsuits are something to keep in mind.

You might also like: Best Business Bank Accounts: 5 Top Picks for Small Businesses

How Does Grasshopper Bank Work?

Now, for the meat and potatoes—What, exactly, can you get if you open a Grasshopper Bank account? And, how is it different from other offers?

1. Open an Interest-Earning Business Bank Account

A business bank account that earns interest can help maximize your idle cash while your funds stay accessible. Grasshopper Bank offers digital-first checking and savings solutions for small businesses and startups. With competitive interest rates and no monthly fees, it provides an easy way to grow your money while managing business expenses.

Here’s what you get with a Grasshopper business bank account:

Up to 1.80% APY on checking balances
Up to 3.55% APY on savings balances over $25K
No monthly fees or overdraft charges
Unlimited ACH transfers and fee-free transactions
1% cashback on online and signature-based debit card purchases
24/7 mobile and online banking with instant-issue virtual debit cards

Opening an account takes just a few minutes online, which can give you immediate access to digital banking tools to streamline payments, automate bookkeeping, and simplify cash flow management.

In addition, Grasshopper advertises enhanced security features that include fraud monitoring, encryption, and dual approvals for transactions.

*Grasshopper also offers specialized banking for venture capital and private equity firms.

You might also like: 3 Best Credit Unions for Small Business Banking in 2024

2. Apply for Small Business Administration Loans

As an SBA Preferred Lender, Grasshopper streamlines the loan process with a digital-first application, which can potentially reduce documentation requirements and accelerate approval times. Businesses can qualify for an SBA 7(a) loan in less than 10 minutes, making it easier to access financing for working capital, acquisitions, real estate, partner buyouts, and debt refinancing.

The bank provides two primary SBA loan options:

SBA 7(a) Loan – The most flexible SBA loan, used for general business expenses, acquisitions, refinancing, and more
SBA 504 Loan – Long-term, fixed-rate financing for purchasing commercial real estate, construction, or major equipment

You may be able to leverage Grasshopper’s SBA loans for expansion, succession planning, or debt consolidation.

You might also like: This is the Truth About LenCred’s Small Business Financing

3. Make Use of “Sponsor Finance” (Secured Loans)

Grasshopper Bank offers sponsor finance solutions designed to help businesses secure funding for acquisitions, buyouts, and working capital needs. Whether you want to expand operations or manage investment cycles, these lending options can provide structured, flexible financing to support your goals.

4. Get Funding for Commercial Real Estate or a Yacht

Grasshopper bank commercial real estate lending

If you need financing for commercial real estate or a yacht, there are specialized loan options that can help. For commercial properties, loans start at $1 million and are available for stabilized properties like multi-family buildings, medical offices, warehouses, retail spaces, and flex spaces.

These loans are primarily offered in:

New York
New Jersey
Eastern Pennsylvania

Borrowers can also access liquidity lines of credit to manage cash flow.

For yacht purchases, loan amounts range from $1 million to $10 million, with terms up to 20 years—Both fixed and adjustable-rate options are available. Some loans may also allow foreign registration or limited charter use.

Both types of loans are designed to provide clear terms and a straightforward application process when you want to finance a major purchase.

You might also like: How to Get Money for Real Estate Investing: 18 Practical Ideas

5. Integrate the Grasshopper System With Your Tech

Grasshopper’s banking system can integrate directly with your technology, which can enable you to make financial transactions more seamlessly. With API banking and embedded finance solutions, you may be able to automate payments, transfers, and financial data within their own platforms.

Grasshopper’s Banking-as-a-Service (BaaS) and API banking provide tools to automate transactions like:

You can manage payments and bill pay from within your own software, monitor account balances and transaction details in real time, and even issue branded VISA® debit cards for customer transactions.

Grasshopper bank branded Visa debit cards

These solutions can work for a wide range of industries, including fintech startups, B2B marketplaces, and manufacturers, which can help you streamline your financial operations.

Security and compliance are built into the system, with bank-level fraud prevention and regulatory protections. As a nationally chartered bank and FDIC member, Grasshopper makes sure all transactions meet strict risk management standards.

You might also like: The PEX Card: Is it the Best Corporate Card for Your Business?

What are the main differences between Brex and Grasshopper Bank?

While I would think that online-only like Bluevine and Novo are more like direct competitors on the banking front, more people seem to want to know how Grasshopper stacks up against Brex.

As of today, the popular search engine overview completely misses the mark on this front, with a seemingly outdated comparison.

As of February 16, 2025, Brex and Grasshopper Bank offer distinct financial services tailored to businesses, each with unique features and benefits:

Brex is a fintech platform that offers corporate cards, expense management, and high-yield business accounts—tailored for startups and high-growth companies.
Grasshopper Bank is a digital bank with interest-bearing accounts, cash-back debit cards, and SBA lending—more for small businesses that need straightforward banking with access to funding.


Business accounts with spend management	1.80% APY checking, 3.55% APY savings
Corporate credit cards with rewards	1% cash-back Visa debit card
No monthly fees, no minimums	No monthly fees, $100 minimum deposit
AI-powered expense automation	Bill Pay, invoicing, and bookkeeping
No lending; high-yield accounts	SBA loans, SaaS funding via Capchase

In sum, Brex may be a good option if your main goal is financial automation and expense control. Meanwhile, Grasshopper may be better if you want small business banking with high-yield accounts and lending options. Both seem to cater to startups.

Frequently Asked Questions

Is Grasshopper a real bank?

Yes, Grasshopper is a real, FDIC-insured digital bank that primarily serves small businesses, startups, and fintech companies. It operates as an online-only financial institution.

Is Grasshopper FDIC-insured?

Yes, Grasshopper Bank is FDIC-insured, meaning deposits are protected up to $250,000 per depositor, per account category.

Does Grasshopper Bank use Zelle?

No, Grasshopper Bank does not currently support Zelle for person-to-person payments. However, it offers other digital payment solutions for businesses.

How big is Grasshopper Bank?

Grasshopper Bank is a relatively small, digital-first financial institution focused on business banking. While it does not have physical branches, it provides banking services nationwide.

What is Grasshopper Bank’s routing number?

Grasshopper Bank’s routing number is 026013303.

Conclusion: Is Grasshopper Bank Legit?

Grasshopper Bank is a legitimate, FDIC-insured digital bank that offers business banking, SBA loans, sponsor finance, and embedded finance solutions. They have competitive interest rates, no monthly fees, and digital tools for seamless transactions. While many businesses appreciate its features, some customers report issues with account closures and fund access.

Grasshopper may be a good fit for small businesses, startups, and investment firms looking for online banking with lending options and API integrations. However, businesses that need in-person banking or prefer traditional financial institutions might find other options more suitable. And, it’s always smart to review terms carefully before you open an account anywhere.

Are you ready to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

American Express Business Blueprint Review (Formerly Kabbage)

By Joe

Key Takeaways

Kabbage became Amex Business Blueprint, from lending to a full financial platform.
Blueprint combines banking, lending, and cash flow insights in one dashboard.
Amex Lines of Credit have lower fees than Kabbage (0.95% to 27%, depending on the term).
Business Checking offers higher (1.3%) APY, no fees, and a rewards debit card.
The iOS app is highly rated, but Android users report issues and bugs.
Payment Accept replaced Kabbage Payments, but new customer availability is unclear.
The Resource Center provides business insights and financial tools.

Kabbage was once a popular online lender and one of the SBA’s approved PPP loan providers. American Express quietly acquired Kabbage’s platform in 2020, and reworked it to create Business Blueprint—a comprehensive business cashflow dashboard.

So, what’s changed? And, is American Express Business Blueprint worth checking out? Here, we’ll take a quick peek at why Kabbage might have exited from their operations and learn everything you need to know about the new and expanded offer from Amex.

This is what’s in store:

What Was Kabbage?
What is American Express Business Blueprint?
- Company Overview
How Does American Express Business Blueprint Work?
Frequently Asked Questions
Final Takeaway

Now, let’s dive in!

What Was Kabbage?

Kabbage, founded in 2009, was an automated lending platform offering quick loans up to $250K for small businesses. Known for convenience but high fees, it paused lending during COVID-19 to focus on PPP loans, earning mostly low ratings.

Later, a few years after the purchase by American Express, it transitioned into Amex Business Blueprint, discontinuing its original offer.

Near the end, Kabbage offered tools like:

Kabbage Checking (competitive APY)
Kabbage Payments (low invoicing fees)
Kabbage Insights (cash flow tracking)

While useful, these services faced some technical issues before the transition. The hiccups near the end may have made selling the company the wise choice.

You might also like: No-Doc Business Loans: Get Funds Without Proof of Income

What is American Express Business Blueprint?

When I first heard that Amex had acquired Kabbage (whose lending funds used to come from Celtic Bank), I said, “If the brand does bring back working capital in the future, it will most likely come directly from Amex itself. We’ll just have to wait around to see.”

Well, that future is now.

American Express Business Blueprint is a free platform positioned to help small businesses manage their cash flow. It lets you view your American Express business products and linked external accounts in one place. Then, it provides personalized insights to help you make informed financial decisions.

With the tool, you can access features like a 30-day bank account balance projection, which uses data from your linked accounts to help you anticipate future balances. In a nutshell, business Blueprint aims to simplify financial management for small business owners.

Moreover, Amex is offering a Business Line of Credit up to $250K (same as Kabbage), with no mention of Celtic Bank. Today, these loans are serviced directly by American Express National Bank.

Company Overview

American Express Business Blueprint Benefits

American Express, aka Amex, is a global financial services company with roots dating back to 1850. Founded by Henry Wells, John Butterfield, and William Fargo—names you might recognize from Wells Fargo—Amex has built a reputation for reliability and innovation in finance.

Initially known for credit cards, charge cards, and traveler’s checks, the company has since expanded its offerings to include business checking accounts (and, now working capital) further solidifying its leading position in the financial world.

Headquartered in New York and led by CEO Stephen Squeri, Amex stands out as a trusted name in American finance. It’s publicly traded and has endured as a stable force in a fast-evolving industry.

You might also like: A Complete, Unfiltered Amex Business Gold Card Review

How Does American Express Business Blueprint Work?

American Express Business Blueprint login

As I said before, American Express Business Blueprint is free. And, you can log in with existing credentials, if you’re already an American Express member, or create an account.

Once you’re in, you’ll have access to a lot of the same features and services that were available with Kabbage, but with some notable improvements.

1. Business Lines of Credit

american express business line of credit

Kabbage’s fixed-rate loan fees were steep, ranging from 24-99% APR, with no savings for early repayment, no long-term options, and approval limited to businesses with online checking or PayPal.

In contrast, Amex Business Lines of Credit offer a more affordable alternative, with funding from $2K to $250K secured by business assets and personal guarantees.

Amex’s fees range from:

0.95% to 6.05% for single repayment loans (1 to 3 months)
3% to 27% for installment loans (6 to 24 months)

So, Amex offers a much less expensive business lending option than Kabbage was able to. They also offer reduced costs with early repayment on installment plans. However, you must be an Amex cardholder to apply.

2. Business Banking Accounts

Before the transition, there was no such thing as a Kabbage business savings account. Likewise, there is no American Express business savings account (though they do have a consumer savings option).

Kabbage Checking offered FDIC-insured banking with 1.10% APY earned on funds, which they declared was the best deal you’ll find. This wasn’t true with 2% earnings from Bluevine and varying larger amounts from several credit unions.

Today, American Express Business Checking is worth taking a look at. Their business checking account earns 1.3% APY on balances up to $500K and charges no monthly maintenance fee—They also offer a rewards debit card that earns 1 point with every $2 spent, and their high deposit limits can house balances up to $5 million.

However, they lack integrations for tools like QuickBooks and don’t accommodate cash deposits (despite free MoneyPass™ ATM access). Currently, they don’t offer virtual cards, either.

3. American Express Business Blueprint Cashflow Management

Kabbage Insights, in my opinion, was comparable to Quickbooks. While it did deliver visual reports, it was basically an accounting platform. Theoretically, it allowed users to view all their accounts in one place for a clearer picture of cash flow and revenue.

Users could link the system to various banks, including smaller credit unions. PayPal and Stripe integrations were unavailable when I reviewed Kabbage, despite being advertised.

Today, Business Blueprint™ is the core of Amex’s small business offer, with a real-time financial dashboard that consolidates Amex business products and linked external accounts.

It offers:

Personalized cash flow insights
Business income and expense tracking
30-day balance projections
A bird’s-eye view of your financial health

You can get all of this in one place. It’s designed to help you focus on growth instead of spreadsheets. The platform is free, but individual Amex financial products have their own fees and eligibility requirements.

You might also like: Plastiq Review: Can Plastiq Really Simplify Your Finances?

4. American Express Business Blueprint App

Back in September 2020, I noted that Kabbage’s web app and mobile app both seemed a little wonky. I assumed this was because they had recently furloughed staff and cut back on their service offer for the time being.

Today, the American Express Business Blueprint app, available on both iOS and Google Play marketplaces, seems upgraded.

Apple users give The Amex Business Blueprint™ app a 4.8 out of 5 rating, based on 8,500 reviews. Users appreciate its convenience and ease of use. However, some have reported limitations in banking functionalities, like viewing canceled checks and scheduling payments.

However, most Android users seem find the Amex Business Blueprint app frustrating due to:

Persistent login issues
Slow transfers
Frequent glitches
Poor support

Many of them prefer using the web instead.

You might also like: What is the Best Personal Finance Software? Free and Paid Options

5. American Express Invoicing & Payments

American Express Business Blueprint Payments

Kabbage Payments was an online invoicing platform with competitive rates at 2.9% + $0.25 per transaction, slightly lower than most major competitors. It supported email and web link billing, with next-day deposits for transactions processed before 5 PM.

Users could also create a unique URL to sell gift certificates ranging from $15 to $500.

Today, American Express Payment Accept is a service designed to help small businesses process card payments online efficiently. It offers a straightforward solution with transparent pricing, aiming to make payment processing simple and quick.

*But, they may not be accepting new customer applications at this time—Check with Amex for Updated info.

You might also like: Melio Payments Review: Can It Make Business Payments and Getting Paid Easier?

6. American Express Financial Resources

American Express Business Blueprint Customer Service

Kabbage’s “Resource Center” was a blog dedicated to financial advice for business owners. I found the articles to be pretty useful, easy-to-understand, and worth a look.

American Express, on the other hand, has a full suite of resources for small business owners through its Business Blueprint™ platform.

This includes a Resource Center featuring:

Articles on various small business topics
Customer success stories
A massive help center

It provides not just articles but also tools, customer success stories, and guided resources to help business owners manage and grow their finances more effectively.

You might also like: 41 Companies That Help Build Business Credit [Beyond Net 30 Vendors]

Frequently Asked Questions

Is it hard to get an American Express business line of credit?

Approval for an Amex business line of credit depends on factors like your business’s financial health, credit score, and cash flow. While the process isn’t overly difficult for well-qualified applicants, Amex does require a personal guarantee and evaluates your business assets carefully.

Does Amex business report to Dun & Bradstreet?

Yes, American Express reports business credit activity to Dun & Bradstreet as well as other major credit bureaus, helping you build your business credit profile.

Why do so many businesses refuse Amex?

Some businesses avoid accepting Amex due to higher transaction fees compared to other credit card providers. These fees can cut into profit margins, especially for small businesses.

Is American Express business hard to get?

Obtaining an Amex business card or account generally requires a good to excellent credit score and stable business finances. While not excessively hard, it may be challenging for newer businesses or those with weaker credit profiles.

What is the minimum income for Amex Business Platinum?

American Express doesn’t specify a minimum income requirement for the Business Platinum Card. But, MyFico forums have a lot of anecdotal stories that suggest that they expect applicants to demonstrate significant income or business revenue to justify approval.

Final Takeaway

American Express Business Blueprint took what Kabbage started and expanded it into a full-scale financial platform. With better lending terms, a solid business checking account, and improved cash flow tools, it’s a clear upgrade.

However, some drawbacks remain, like limited integrations and an inconsistent mobile app experience. If you’re an Amex cardholder looking for streamlined business banking and financing, it’s worth considering—just be aware of its gaps.

Are you ready to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

Giggle Finance: Instant Funding for Freelancers & Self Employed

By Joe

Key Takeaways

Giggle Finance provides up to $5K in fast funding for gig workers.
Giggle requires no credit checks,= and uses bank account activity to assess eligibility.
You can set up income-based, automatic repayment for flexible loan management.
Customer service is digital-only, with mixed reviews on responsiveness.
Accusations of predatory practices and unauthorized transactions raise red flags.
Some users value Giggle’s speed and simplicity for emergency financial needs.

Giggle Finance offers something a little different than what we usually review here, but maybe not as different as you might think. Before you apply, you’ll want to know what it is you’re signing up for.

Here, explore what Giggle Finance is, learn more about the company, and understand key features of the offer.

This is what’s in store:

What is Giggle Finance?
- Company Overview
How Does Giggle Finance Work?
Frequently Asked Questions
Conclusion: Is Giggle Finance Legit?

Now, let’s dive in!

What is Giggle Finance?

Giggle Finance provides fast and convenient funding solutions designed specifically for:

Gig workers
Independent contractors
Self-employed individuals

They offer up to $5K in instant funding, their platform is fully automated, available 24/7, and requires no credit checks or lengthy application processes.

The idea is that borrowers can access cash quickly to manage unexpected expenses or invest in opportunities. In theory, this can make it a flexible option for those in the gig economy who need immediate financial support.

You might also like: Torro Business Funding Review: Is This “Zero Hassle” Offer Legit?

Company Overview

Giggle Finance, aka, Giggle LLC is a Florida-based, private, for-profit financial services entity that was founded in 2020 by Jared Kogan and Michael Zevallos. According to Florida’s SunBiz, the company is active, in good standing, and up-to-date with all their required filings with the state.

Kogen previously spent 5+ years with OnDeck, as the Director of External Sales, and has held several high-level business consulting positions. Zavallos was the Manager of External Sales at OnDeck when Kogen was with the company, and he was the Co-Founder and COO at Idea Financial before the team launched Giggle.

In short, the leadership seems to be solid. However, it’s important to know what borrowers have to say.

Currently, Giggle isn’t accredited with the Better Business Bureau (BBB), which I would almost let slide—not every legitimate business is accredited. But, they currently have an “F” BBB-rating and have failed to respond to 32 complaints filed on the platform.

Overall, TrustPilot reviews are a little more optimistic, with a 4.0 (out of 5.0) TrustScore.™ Even so, the 1-star reviews are pretty brutal.

All in all, borrowers largely view Giggle Finance as an “unethical” lender, citing:

Unauthorized transactions
Predatory practices
Poor customer service

Though, some people appreciate its fast funding for emergency needs.

These are some pretty weighty accusations, so I wanted to verify whether or not there are any open lawsuits against the company. And, I couldn’t find any current legal issues.

However, Redditors also criticize Giggle Finance as deceptive, warning that its loans involve hidden fees and misrepresented terms, which has caused financial strain for gig workers.

Having no experience borrowing from the company myself, I would have to take others’ word. On one hand, Giggle Finance offers fast funding that some borrowers find helpful in emergencies, while on the other, reviews raise significant red flags.

You might also like: How to Get a Business Credit Card – The Ultimate Guide

How Does Giggle Finance Work?

Giggle Finance offers gig workers and self-employed individuals fast funding options, but borrowers should weigh the potential risks. Here’s how it works.

1. Apply Easily Online

The process begins with a quick online application that takes just minutes to complete. By connecting your bank account, Giggle evaluates your eligibility based on income and account activity instead of credit scores.

While convenient, some users have expressed concerns about privacy and the security of their financial data. I know that they work with Plain, which I know to be a secure technology.

If you’re working for a popular delivery service or selling on Shopify, you may be able to connect your account for immediate revenue info (this may be where the data security issue comes in).

You might also like: No-Doc Business Loans: Get Funds Without Proof of Income

2. Get Instant Funding Anytime

Once your application is submitted, the automated system processes approvals in real time, with funds often deposited within minutes. This 24/7 availability is ideal for emergencies.

However, some borrowers have reported delays or discrepancies in the amount funded compared to what was expected.

3. Repay Based on Your Income

Repayments are automatically deducted in line with your earnings, offering flexibility for those with variable incomes. Giggle also allows early payoffs to save on fees. Despite this, some users have faced challenges with rigid payment schedules and unexpected deductions.

With this said, you will need to connect the platform to your primary business bank account. They’ll use it for income verification AND repayment.

You might also like: 11 Alternate Ways for Entrepreneurs to Raise Capital with Online Lenders

4. Access Funding Without a Credit Check

Giggle Finance caters specifically to gig workers, freelancers, and independent contractors who may struggle to qualify for traditional loans.

The no-credit-check feature makes the service widely accessible, but the high fees and unclear repayment terms reported by some borrowers warrant a careful review.

You might also like: A Full Skip Review: Business Grants, Funding, and More

5. Know Your Terms Before You Borrow

Giggle Finance determines its fees and repayment terms based on the amount borrowed and the borrower’s risk profile. The company claims to maintain transparency to make sure borrowers understand the total cost before agreeing to the terms, with no hidden fees.

However, some users report higher-than-average fees.

Keep in mind, Giggle calculates repayment amounts using a factor rate, which is a multiplier applied to the borrowed amount. For instance, a $5,000 loan with a factor rate of 1.5 would require $7,500 in total repayment. And, Giggle Finance doesn’t advertise their factor rates (I wish they did).

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6. Be Ready for SMS-Only Customer Support

To verify what some borrowers had said, I tried calling the phone number listed on the website and was redirected by a pre-recorded message instructing me to send a text.

Customer service is entirely digital, with interactions through text or email. Some users have described their experiences as unprofessional or unhelpful, particularly when resolving disputes or addressing errors. But, depending on your preferences, this might be convenient.

Frequently Asked Questions

What credit score do you need for Giggle Finance?

You don’t need a specific credit score to qualify for Giggle Finance. The platform does not rely on traditional credit checks and instead evaluates your eligibility based on your bank account activity and income.

What is the maximum loan amount for Giggle Finance?

The maximum loan amount offered by Giggle Finance is $5K— Your approved amount will depend on your verified income and banking activity.

Does Giggle Finance report to credit bureaus?

Yes, Giggle Finance does report to credit bureaus. This means your repayment activity (including any missed or late payments) can impact your credit score and appear on your credit report. Be mindful of this when you apply for a loan.

Conclusion: Is Giggle Finance Legit?

Giggle Finance provides quick, easy access to cash, which can be invaluable in a pinch. However, recurring complaints (with no responses from the company) about aggressive practices, high costs, and poor communication highlight the importance of understanding the risks before borrowing.

If you carefully review the terms, you can make an informed decision about whether Giggle Finance is the right solution for your needs.

Do you want to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

A Quick Review of the Verve Credit Card for Credit Building

By Joe

Key Takeaways

The Verve Mastercard® helps rebuild credit by reporting to all three major bureaus.
It is designed for people with less-than-perfect credit.
The card has high fees, including up to $125 annually and monthly fees.
It also has a 35.90% APR and potential monthly fees after the first year.
You need a pre-qualification letter and reservation number to apply.
The card is issued by The Bank of Missouri and serviced by Continental Finance.

Tens of thousands of people search for more info about the Verve credit card each month. And, the readily-available details from the issuing bank aren’t super easy to navigate. So, here, I want to lay it all out to let you know exactly what you could be getting into if you apply for this card.

Find out more about the terms and fees, learn how to apply, and look behind the curtain at the company that offers the card. Then, explore a breakdown of Verve credit card reviews from cardholders, a list of features, and answers to frequently asked questions.

This is what’s in store:

What is Verve Credit Card?
Frequently Asked Questions
Conclusion: Is Verve a Good Credit Card?

Now, let’s dive in!

What is Verve Credit Card?

The Verve Mastercard® is a credit card designed for people with less-than-perfect credit. It offers an initial credit limit of up to $1,000 and includes Mastercard Zero Liability Protection, which helps protect you from unauthorized charges.

This card also reports payment history to all three major credit bureaus:

Experian
Equifax
TransUnion

Regularly-reported on-time payments can help you build or improve your credit over time. So, a Verve card can be an option to consider if you want to establish or rebuild credit. But, as with any financial product, you need to know the terms and fees before you apply.

You might also like: Meet the Ava Card: An Uncut Credit Builder Review

Verve Credit Card Requirements

To qualify for the Verve Mastercard®, you must:

Be at least 18 years old (19 in some states).
Provide a valid SSN and government-issued ID.
Show proof of a stable income.
Be a U.S. resident.
Have a credit score of at least 500.

The card is available to individuals with fair, poor, or limited credit. Approval and interest rate depend on your credit history and income.

Verve Credit Card Fees

According to the Verve cardholder agreement, the Verve Mastercard® has specific fees and interest rates based on your credit limit:

$75 annual fee for the first year; $99 annually thereafter for a $300 credit limit.
$125 annual fee for credit limits of $500, $750, or $1,000.
$0 monthly maintenance for the first year; $10 per month thereafter for credit limits of $300 or $500.
No monthly maintenance fee for credit limits of $750 or $1,000.
35.90%+ APR for purchases and cash advances.

So, if you get a $1,000 Verve Mastercard limit and carry a $400 balance for two years without additional charges, it will cost you about $537 in fees and interest. This includes $250 in annual fees ($125 per year) and approximately $287 in interest, assuming the 35.90% APR and no payments beyond the minimum to reduce the balance.

35.90% APR and a $125 annual fee are high compared to average cards, which have APRs of 16%-24% and lower or no annual fees. It’s costly but aimed at those with poor credit.

You might also like: Can an Extra Card Help You Build Credit Without a Credit Card?

How to Apply for a Verve Credit Card

When I first visited the Verve card’s landing page, it took me a minute to figure out how to access the application. The website’s instructions, which start with, “Applying for a Verve card has never been easier,” is extremely misleading.

So, to apply, you need to:

Head over to yourvervecard.com.
If you have your reservation, you can follow the prompts on the page. Otherwise, you need to click “Search Now” at the bottom of the page.
You’ll be taken to a new screen where you can enter your last name, zip code, and the last four digits of your social security number to look-up your “reservation.”

While the advertising says otherwise, the only way to apply for a Verve card online is with a pre-qualification letter and reservation number (I don’t love confusing information from the companies I do business with or recommend.).

You might also like: Is Credit Strong Legit? A Complete Credit Builder Review

Company Overview

The Verve Mastercard is issued by The Bank of Missouri and serviced by Continental Finance Company. Continental Finance specializes in credit cards for individuals who may not qualify for traditional options.

And, the first thing I need to say is that the 5-Star Trustpilot reviews advertised on the Verve website are, again, super deceiving. While the Verve Mastercard reviews—which date back to 2019—are mostly positive, Continental Finance reviews aren’t so shiny.

The Verve card reviews show an overall TrustScore of 4.8 out of 5, which is good. But, the company asks for reviews, pays for extra Trustpilot features, and allegedly uses AI to help with replies.

In the meantime, Continental Finance has almost exclusively poor reviews, several of them related specifically to Verve card services. And Continental Finance hasn’t replied to ANY of these reviews, despite the fact that they did claim the profile.

However, before we burn them at the stake, they are Better Business Bureau (BBB) accredited with an A+ rating. This is despite the fact that they get a couple hundred complaints on the BBB platform each year.

For anonymous reviews and input, I always like to see what Redditors have to say (with the understanding that they can be especially critical over there). As expected, Reddit reviews tend to note the coinciding annual and monthly fees, and say this is “hot garbage.”

Keep in mind that most financial offers get a lot of poor reviews. In most cases, this boils down to people not understanding an offer before they apply.

But, in this case, Continental Finance isn’t known for following the rules. In 2015, the company faced a CFPB order to refund $2.7 million and pay a $250,000 penalty for illegal credit card fees. In 2023, a federal case questioned their arbitration terms, highlighting ongoing legal scrutiny but no recent major penalties reported.

You might also like: A Credit Stacking Breakdown: What it is & How it Works

Frequently Asked Questions

What is the disadvantage of a Verve card?

A key disadvantage is that the Verve card may come with high fees, which can reduce the effective credit limit available to you. And, the card’s interest rates may be higher than those on traditional credit cards, which could make carrying a balance more expensive.

How do I check my Verve credit card balance?

You can check your Verve credit card balance by logging into your online account through the Continental Finance website or mobile app. You can also contact the customer service team using the phone number provided on the back of your card for help.

What bank issues the Verve credit card?

The Verve credit card is issued by The Bank of Missouri, a member of the FDIC, under a license from Mastercard International.

Is Verve credit card for bad credit?

Yes, the Verve credit card is designed for people with less-than-perfect credit. It can be a helpful tool to rebuild or improve your credit, since it reports payment activity to all three major credit bureaus monthly. However, you would need to use it responsibly for a positive impact.

Conclusion: Is Verve a Good Credit Card?

In a word, yeah, the Verve card is a genuine financial tool from an established institution. However, the fees and APR are high, the company offers unclear and deceptive advertising, plus they have a tendency to operate in legally gray areas. So, I’m not comfortable recommending this card as an optimal credit builder…unless you have no other choice and don’t mind paying steep fees.

So, consider all your options and do your research before you commit to any financial offer. With that said, once your credit score is on track, if you’re entrepreneurial, you might be able to get business credit that doesn’t impact your personal credit score.

To learn how to obtain up to $100K in business credit in as few as 30 days, join Business Credit Workshop today.

Can an Extra Card Help You Build Credit Without a Credit Card?

By Joe

Key Takeaways

The Extra Card links to your bank account to help build credit without a credit check.
The company reports your payments to Experian and Equifax, which may help improve your credit score over time.
The card charges a monthly fee starting at $20 for basic features or $25 for rewards.
It offers a spending limit based on your bank balance, referred to as “Spend Power.”
The card includes real-time credit tracking and 1% rewards with the upgraded plan.
The Extra Card does not support cash withdrawals and focuses solely on purchases.

Are you wondering about the Extra card and if it might be able to help you build credit without applying for loans and lines of credit? Here, I’m going to break down exactly what the extra card is (including the company itself), how it may help you establish credit and boost your FICO score, and the features and benefits of an account.

This is what’s in store:

What is the Extra Card?
Extra Card Features & Benefits
Extra Card VS Chime: Side-by-Side Comparison
Frequently Asked Questions
Conclusion: Does Extra Work to Build Credit?

Now, let’s roll!

What is the Extra Card?

The Extra Card is a debit card designed to help you build credit without needing a traditional credit card. Unlike credit cards that charge high interest or require credit checks, the Extra Card connects directly to your bank account.

It offers a unique feature called “Spend Power,” which sets a spending limit based on your bank balance. When you make purchases, Extra fronts the cost and automatically pays itself back.

These transactions are then reported to credit bureaus as credit-worthy payments to potentially help you improve your credit score over time.

Many users have seen significant credit score improvements by using Extra responsibly and practicing good financial habits. With no interest, hidden fees, or deposits required, the Extra Card offers a simple and effective way to build credit while sticking to your budget.

You might also like: Meet the Ava Card: An Uncut Credit Builder Review

Extra Card Requirements

The requirements for Extra are based on income, not credit score. So, it’s a fairly simple application process, as long as your bank account is in good standing and compatible with the system.

To apply for an Extra Card, you need:

A U.S.-based checking account that is compatible with Plaid.
A stable bank balance to calculate your “Spend Power.”

To get started, complete the sign-up process, and link your bank account—No credit check is required.

You might also like: Ally Financial Review: No PG, No Credit Check Auto Loans +More

Extra Card Membership Cost

So, how much is an extra card membership? It can’t be free…right? While the pricing isn’t super easy to find on the main website (you have to scroll down the home page a bit), the Extra Card is not free.

It requires a membership plan, with options starting at $20 per month for the Credit Building plan. The Rewards + Credit Building plan, which includes earning points on purchases, costs $25 per month.

These plans cover all features without hidden fees or interest charges.

You might also like: A Credit Stacking Breakdown: What it is & How it Works

Company Overview

The Aligned Company, Inc., doing business as “Extra”, is a US-based for-profit corporation that was founded in 2018. Depending on which source you look to, they’re either based in “the greater New York area” (Crunchbase) or 3,000 miles away in Los Angeles, California (LinkedIn). It’s actually registered in Delaware, which is common for entities to do since the state’s laws are some of the most corporate-friendly.

Extra’s co-founders are Biren Shah, Cyrus Summerlin, Maximillian Hellerstein. Shah held executive roles at Extra for a few years and is now with Scanit Technologies. Summerlin is the current Head of Product and Brand. Hellerstein is a serial entrepreneur and Extra’s CEO at present.

Prior to Extra’s launch, Hellerstein founded and co-founded a handful of other businesses in the new tech and marketing arena.

With the Better Business Bureau, Extra maintains an A- rating and 4.8 stars from user reviews. The most common complaint seems to be that Extra will report unpaid membership fees to credit bureaus. So, that’s something to note—If you sign up for a monthly recurring plan and don’t pay, it could impact your credit.

On Trustpilot, the reviews are pretty much raving. Extra’s TrustScore™ is 4.5, which is great for any financial offer. Most of the poor reviews are from a couple years ago, and it seems like the company may have worked out whatever tech issues were causing users stress.

Finally, Redditors have mixed sentiments, which is expected. While some people claim that the card is helping them build credit, others point out that this is not, technically, a debit card. I would agree with them.

Overall, the company seems legit to me. I see no glaring red flags that would lead me to advise you to run away from this offer. However, I would still tell you to keep reading so you can understand the offer and make the best choice for you.

Extra Card Features & Benefits

Discover the standout features of the Extra Card that could make it a game-changer to build credit and manage your finances. From earning rewards to partnering opportunities, here’s what sets Extra apart.

1. Build Credit Without a Traditional Credit Card

The Extra Card helps you improve your credit score without relying on a credit card. Transactions are reported to credit bureaus as credit-worthy payments, allowing you to build credit while avoiding interest rates and credit checks.

2. “Spend Power” Based on Your Bank Balance

Your spending limit, known as “Spend Power,” is determined by your bank balance and other factors. Extra fronts the cost of your purchases and automatically pays itself back, making it a budget-friendly way to manage credit.

3. Earn Reward Points for Everyday Purchases

With an upgraded plan, you can earn up to 1% in points on everyday purchases like gas, groceries, or coffee. Redeem these points for products or gift cards in the Extra Rewards Store, adding value to your spending.

4. No Interest or Hidden Fees

Extra operates on a simple membership model with no interest charges or hidden fees. You get clear and predictable costs, making it an accessible and straightforward tool for credit building.

5. Real-Time Credit Tracking

The Extra App allows you to monitor your spending and track your credit-building progress. It also provides access to your credit score, helping you stay on top of your financial goals.

Extra Card VS Chime: Side-by-Side Comparison

When researching Extra, the most-compared card I saw was Chime. Chime has been around a bit longer, and is set up more like a traditional secured card. Plus, Chime offers fee-free checking accounts.

Here are the main features of both Extra and Chime cards.

Neither an Extra nor a Chime card require a credit check—both are issued based on income. And, Chime doesn’t offer 1% rewards points, but they do have Chime Deals, which are essentially discounts on partner offers. And, extra calls their card a “Debit card with superpowers,” rather than a secured card, but some people think this is debatable.

Where Chime stands out is with their three-bureau reporting and $0 monthly membership vs $20+. However, to be fair, if data is reported to Equifax and Experian, it is likely to be picked up by Transunion as well.

On this front, you will have to decide what’s best for you.

You might also like: Is Credit Strong Legit? A Complete Credit Builder Review

Frequently Asked Questions

Is Extra a real credit card?

No, an Extra card is not a credit card, as it does not have a revolving credit limit. Instead, the funds you spend on an Extra card are immediately paid back out of your checking account. In this way, it’s more like a debit card.

Can you withdraw money from an extra card?

No, the Extra Card does not support cash withdrawals. It is designed for purchases only and helps build credit by reporting those transactions to credit bureaus.

How does an Extra card work?

The Extra Card links to your bank, fronts purchases based on your balance, and reports them to credit bureaus (Experian and Equifax) to help build your credit.

Does Extra help your credit?

Extra can help your credit by reporting your purchases as payments to Experian and Equifax. Many users see credit score improvements when they use the card responsibly and maintain good financial habits.

Conclusion: Does Extra Work to Build Credit?

The Extra Card offers a different way to build credit without relying on traditional credit cards. By linking directly to your bank account and reporting your transactions to credit bureaus, it may help you improve your credit score with responsible use.

While the card comes with a monthly membership fee, its no-interest model and rewards options might provide some value if you want to build credit while sticking to a budget. Whether the Extra Card is the right choice depends on your financial goals and priorities, but it stands out as a flexible option for credit-building.

Do you want to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

A Complete, Unfiltered Amex Business Gold Card Review

By Joe

Key Takeaways

Earn 4X points on your top 2 spending categories (up to $150,000/year), 1X on others.
Get 3X points on flights and hotels, no foreign fees, and trip delay insurance.
Manage expenses with QuickBooks, employee cards, and year-end summaries.
Annual fee is $375, with up to $240 in select service credits.
Requires good credit (700+ FICO score), $3,000+ monthly revenue, and solid business credit.
Includes cell phone protection, extended warranties, and purchase protection.

Have you considered applying for the Amex Business Gold card, but not sure what you’d be getting yourself into? In business, the sheer number of financial management options can be overwhelming, but let’s simplify to determine if this choice is right for you.

In this Amex Business Gold card review, you’ll find what the card is, see a company overview, explore the benefits, and find out if (and when) it might be worth it to apply.

This is what’s in store:

What is the Amex Business Gold Card?
Amex Business Gold Benefits Worth Exploring
Frequently Asked Questions
Conclusion: Is Amex Business Gold Worth it?

Now, let’s dive in.

What is the Amex Business Gold Card?

Why Should You Get the Amex Business Gold?

The Amex Business Gold card is a premium business credit card from American Express with a handful of standout features, including:

Rewards on spending
Expense management tools
Travel perks
Business services

It also offers cash flow flexibility with revolving credit, which you can pay over time when needed, along with no preset spending limit. When you apply for the card, it won’t impact your personal credit, because approval is based on your business credit score.

You might also like: Amex Business Checking Review: What You Need to Know…Really

Amex Business Gold Requirements

American Express Business gold card limit Reddit

Wondering how to get an Amex Business Gold card? Well, as you may know, the requirements are fairly stringent. However, they’re not clearly specified anywhere.

So, here’s what I know is required:

Solid business credit score
FICO (personal credit) score above 700
Average monthly revenue of at least $3K

The more revenue you have and the higher your business and personal credit scores, the more likely you are to qualify for an Amex Business Gold card.

Business Credit Score Impact

When you apply for the Business Gold card from Amex, your business credit score might take a small hit because Amex may check it during the application process. Your personal credit score won’t be affected at this stage.

However, If you’re approved and decide to accept the card, it may impact your personal credit, because you’ll likely need to guarantee the account. This means that, if the account defaults, you’re on the hook.

This card could offer a good way to build business credit if you manage it well, but be sure you’re comfortable with any potential impact on your personal credit before accepting.

You might also like: Here’s How to [Actually] Get Business Credit With Just an EIN +More Options

Amex Business Gold APR and Fees

The Amex Business Gold Card offers 0% APR for the first 6 months, so no interest accrues during this time. Be mindful that the introductory 0% APR doesn’t apply to cash-like transactions or fees, and this is an intro offer, which can change any time.

After that, the APR will range from 18.74% to 27.74%, based on your credit and the Prime Rate, which can change with the market. Then, if you miss payments or have returned payments, a 29.99% Penalty APR might apply for at least a year. Paying on time helps you avoid this.

Interest is calculated using the average daily balance method.

So, let’s say you spend $20,000 in a year using the Amex Business Gold Card and only make minimum payments—Here’s what you might expect:

First 6 months: You pay 0% interest during the intro APR period. Assuming you spend evenly, your balance after making minimum payments (~$300/month) is about $8,200.
Next 6 months: The remaining balance and new charges start accruing interest at around 21.74% APR. You’d pay about $1,130 in interest over this time.
After a year: You’ll have paid about $5,300 in minimum payments but still owe $15,830, including interest.

Paying only the minimum can add up quickly. To save, pay more than the minimum, especially after the 0% intro APR period ends. And, to avoid interest, you can pay your balance in full by the due date, which is at least 25 days after the billing cycle closes.

The card also has an annual fee of $375, but no foreign transaction fees. Late payments or returned payments can cost $39 or 2.99% of the past due amount, whichever is higher.

Amex Business Gold Benefits Worth Exploring

Now, let’s take a closer look at some of the benefits of being an Amex Business Gold cardholder, including rewards, tools, travel perks, and business services.

1. Amex Business Gold Rewards

This card rewards you with 4X Membership Rewards points on the top 2 categories your business spends the most in each billing cycle, from options like restaurants, gas stations, transit, software providers, and more (up to $150,000 per year; 1X points after). All other purchases earn 1X points.

Here’s an example scenario of how this might stack up:

Let’s say your business spends $2,000 on software subscriptions and $1,500 at restaurants in a billing cycle. These would be your top 2 categories, so you’d earn 4X points on those purchases, giving you 14,000 points (4 points per dollar).
If you also spend $500 on office supplies, you’d earn 1X points for that, adding 500 points.
In total, you’d earn 14,500 Membership Rewards points for that billing cycle. The top 2 categories adjust each cycle based on where you spend the most.

You can also get up to $240 annually in statement credits for eligible purchases at FedEx, Grubhub, and office supply stores, plus a monthly credit for a Walmart+ membership (up to $12.95/month).

This could be a great way to earn points and save on business essentials.

2. Expense Management Tools

The Amex Business Gold Card offers tools to simplify expense management.

With this card, here are the tools you could get:

A year-end summary to simplify expense tracking
Employee cards to control spending and earn rewards
QuickBooks integration to auto-categorize expenses

You can also take advantage of Vendor Pay by Bill.com to streamline payments and assign an Account Manager to handle tasks like payments and transaction reviews. Plus, you can stay on top of spending with account alerts, online statements, and the Amex app, which lets you track expenses and manage your account in real-time.

You might also like: BILL Spend & Expense Card Review (Formerly Divvy Credit Card)

3. Travel Perks for Cardholders

The Amex Business Gold Card enhances travel with 3X Membership Rewards® points on:

Flights
Prepaid hotels
Packages booked through AmexTravel.com

There are no foreign transaction fees, which can make international business travel seamless.

Plus, you can enjoy perks from The Hotel Collection (like a $100 experience credit and potential room upgrades for stays of two nights or more), Global Assist® Hotline for emergencies, baggage insurance for lost or damaged items, and car rental insurance for theft or damage (secondary coverage).

Finally, If your trip is delayed by 12+ hours for a covered reason, Trip Delay Insurance may provide assistance. These features can make business travel smoother and more rewarding.

You might also like: What are the Best Business Credit Cards for Travel?

4. Business Services from Amex

The card also offers valuable business services to protect and support your operations.

Some of the services include:

Cell phone protection up to $800 per claim
Dispute resolution for fraud and unauthorized charges
Extended warranties (up to 5 years) on eligible purchases
Annual purchase protection up to $50K per year
24/7 support through Relationship Care®

These features can help safeguard your purchases and simplify some aspects of managing your business.

You might also like: Comprehensive ZenBusiness Review: Is it Legit for LLCs?

Frequently Asked Questions

Does the Amex Business Gold card have a limit?

The Amex Business Gold card has a flexible spending limit that adjusts based on your usage, payment history, and other factors–This means your spending capacity can vary over time.

Is the Amex Gold a luxury card?

The American Express® Gold Card is considered a premium card, offering substantial rewards on dining and groceries. However, it doesn’t provide the extensive luxury perks found in higher-tier cards.

Does the Amex Gold Business have lounge access?

No, Amex Business Gold doesn’t include airport lounge access. But, it does offer other travel perks like trip delay, baggage claim, and car rental loss insurance. Lounge access is typically reserved for luxury cards like the Amex Platinum.

Is it hard to get approved for the Amex Business Gold card?

Amex Business Gold approval generally requires good to excellent credit. American Express evaluates credit history, income, and other factors during the application process.

What income is recommended for the Amex Business Gold card?

While American Express doesn’t specify a minimum income, higher revenue can improve your approval odds. They consider your overall financial profile, including income, existing debts, and both business and personal credit scores.

Conclusion: Is Amex Business Gold Worth it?

The Amex Business Gold card offers a suite of features that can be worthwhile if you think you’ll take advantage of them. But, a $375 annual fee isn’t going to work for everyone.

If you think the benefits can outweigh the cost for you, this is a high-value card from a reputable servicer. If you’re looking for more perks like lounge access, consider a platinum card instead. If you want something with no annual fee, keep shopping around—the right card is out there.

Do you want to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

Complete Ally Financial Review: No PG, No Credit Check Vehicle Loans +More

By Joe

Key Takeaways

Ally Financial is a digital financial services company.
It offers banking, investment, and auto financing products.
Some customers report poor customer service on online review websites, and the company faces class-action lawsuits over data breaches and loan practices.
Ally offers no-personal-guarantee (no-PG) business vehicle loans that focus on business credit, not personal credit.
Their business vehicle loans have flexible terms and protect personal assets.

You can find a ton of Ally Financial reviews online. While their affiliates tend to talk them up, some of their customers are less impressed. So, what’s Ally Financial really all about?

Here, I’ll answer that and more. Let’s look at what Ally Financial offers, learn about the company, and get to know their no-credit check and no-PG business vehicle loans (which I love).

This is what’s in store:

What is Ally Financial?
- What is Ally Financial Known for?
- Company Overview
Ally Financial No PG Business Vehicle Loans Summary
Frequently Asked Questions
Conclusion: Is Ally Financial Any Good?

So, let’s dive in!

What is Ally Financial?

Ally Financial is a leading digital financial services company that offers a variety of banking and investment products.

Its core services include:

Ally Bank provides deposit products like savings and checking accounts, CDs, and money market accounts. It also offers mortgages and credit services.
Ally Invest allows users to manage investments with self-directed trading, robo portfolios, and personalized advice.
Ally Home offers home purchase and refinancing options.
Ally Auto provides auto financing, a key part of their offer.

They emphasize customer care and transparency, with “no hidden fees” (according to themselves) on many of their products.

You might also like: Low-Risk NAICS Codes +Best SIC Codes for Business Credit in 2024

What is Ally Financial Known for?

Ally is known for being one of the first banks to eliminate overdraft fees and to make banking more accessible and customer-friendly. In the corporate world, they’re known for their no-PG business auto loans.

And, there are a few key aspects of their overall offer that people tend to love:

As a fully online bank, Ally offers a wide range of services without physical branches.
Ally is a major player in consumer and business auto loans and financing.
In addition to banking, Ally offers investment options, home loans, and insurance products.

As a one-stop-shop for personal finance, these factors tend to set Ally apart.

You might also like: Business Credit Cards without Personal Guarantee

Company Overview

A Detroit, Michigan-based company, allegedly launched in 1919, Ally Corporate Finance, aka Ally Financial, aka Ally CF, is listed on Crunchbase as an “automotive financial services company powered by a top direct banking franchise.” Both Ally Financial and Ally Financial Inc. were registered as entities in the state of Michigan in May, 2010, which seems to be when the trade name was changed from GMAC Inc.

However, GMAC Inc. was first registered in July, 2009. So, the 1919 founding date must be based on the fact that they’re a subsidiary of General Motors (founded in 1908).

Ally Financila Inc Delaware Company 2009

Still, the company appears to be in good standing, and its most recent annual report was filed in 2024.

Out of 762 Trustpilot reviews, Ally’s Trustscore™ is a low 1.2-stars. A lot of customers warn of poor, outsourced customer service, but some praise the banking. With an online-only bank, customer service shortcomings are almost expected. But, these are pretty poor.

With the Better Business Bureau (BBB), their reviews aren’t so promising either—Ally has a C- BBB rating with 1.06 out of 5 stars, and 1,260 complaints closed in the past 12 months,

While the BBB lists them as being in business for 40 years, this doesn’t match up with the 1919 nor the 2009 founding dates that I found.

Moreover, the reason their BBB rating is low and they aren’t accredited isn’t because they failed to sign up to become accredited. Instead, they’ve been slacking and can’t be accredited because of failure to respond to four complaints and having left eight complaints unresolved.

To make sure we’re being completely fair, it’s important to note that most financial service companies have a hard time maintaining positive reviews. And, an unsatisfied customer is way more likely to put in the effort to leave a review than someone who is satisfied.

So, I did a quick search to see if they had any open or past lawsuits, hoping to come up empty-handed. Sadly, that’s not the case.

Ally Financial is facing multiple class-action lawsuits, including:

Allegations of failing to protect customer data during a breach.
Accusations of discrimination related to its DEI policies.
Private lawsuits over improper collection practices during loan repossession.

With a quick Google search, you can find more information about some of the legal complaints against the company. With that said, I know several people, with vehicle loans through the platform, who are having no problems whatsoever.

In sum, Ally Financial has a mixed reputation. It faces low customer ratings on Trustpilot and the BBB, along with class-action lawsuits over data breaches, discrimination, and loan collection practices. But, some customers still report positive experiences.

You might also like: No-Doc Business Loans: Get Funds Without Proof of Income

Ally Financial No PG Business Vehicle Loans Summary

One of my favorite offers from Ally is their business vehicle loans–They’re one of the select few lenders I know of to offer business vehicle loans that don’t require a personal guarantee (no-PG) and no credit check.

Learn more about the option to get vehicle loans in your business name through Ally!

1. Approval Based on Business Credit

Ally’s no-PG business auto loans evaluate your business’s credit history rather than your personal credit. This process focuses on your company’s financial health, allowing you to keep your personal credit separate from your business.

You might also like: This is How to Leverage Business Credit to Transform Your Life

2. Ideal for Fleet Management

These loans are perfect for businesses needing multiple vehicles. Whether you need cars, trucks, or specialized vehicles, Ally provides flexible solutions tailored to your growing fleet.

3. Flexible Loan Terms

Ally offers various loan terms, usually ranging from 36 to 84 months. You can choose short-term or long-term financing to manage payments according to your cash flow and operational demands.

You might also like: A Full OnDeck Review: All You Need to Know About This Business Funding Offer

4. Competitive Interest Rates

With no personal guarantee required, business owners can protect their personal assets. This makes no-PG business auto loans a smart choice for companies looking to expand while minimizing personal financial risk.

5. Personal Asset Protection

6. Additional Costs to Consider

Buyers should be aware of potential costs, such as down payments, registration fees, and any modifications needed for the vehicles. Understanding these costs upfront can help you budget effectively.

7. Application Process

To start the financing process, you can download the commercial line of credit application from Ally’s website. It’s a straightforward process that allows you to get started quickly.

8. Work With a Local Dealer

Interested buyers should find a local dealer to learn more about eligibility, specific rates, and additional financing options available through Ally. To find dealers in your area that work with Ally Financial, see their dealer locator.

Frequently Asked Questions

What bank owns Ally Financial?

Ally Financial is an independent financial services company and does not have a parent bank. It was formerly known as GMAC Inc., a subsidiary of General Motors.

Is Ally Bank FDIC insured?

Yes, Ally Bank is FDIC insured. This means that deposits are protected up to the legal limit, which is currently $250,000 per depositor, per insured bank.

Is Ally Bank 100% safe?

While Ally Bank is FDIC insured, no bank can guarantee 100% safety. However, it is considered a reputable institution with security measures in place to protect customer information and funds.

What credit score is needed for Ally Financial?

Ally Financial typically requires a credit score of 620 or higher for its auto loans, but specific requirements may vary based on the type of loan and other factors. It’s best to check directly with Ally for the most accurate information.

Conclusion: Is Ally Financial Any Good?

So, can Ally be trusted? Well, they present some appealing options, especially with their no-PG business vehicle loans—These loans allow business owners to secure financing without risking personal assets.

However, the company faces significant criticism regarding customer service and transparency, as shown by their low ratings on Trustpilot and with the BBB.

While many customers do report positive experiences, the ongoing legal issues and mixed reviews warrant some level of caution. If you’re considering Ally Financial, weigh the benefits against the potential drawbacks. Conduct your own research and explore other financing options to be sure you make the best choice for your needs.

If you’re interested in applying for Ally’s no PG business vehicle loan, watch my recent video:

Ready to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

NAMYNOT Net 30: Marketing Services That Build Business Credit

By Joe

If you want a way to improve your business’s cash flow while better marketing your business, NAMYNOT’s Net 30 account could be what you need—This option lets you defer payments for up to 30 days, providing more financial flexibility.

Curious about how their Net 30 terms work and how they might benefit your business? Keep reading to find out everything you need to know.

This is what’s in store:

What is NAMYNOT?
- Company Overview
What is a Net 30 Account?
NAMYNOT Net 30 Features & Benefits
How to Qualify for NAMYNOT Net 30
Final Thoughts

Now, let’s roll!

What is NAMYNOT?

NAMYNOT, aka “nmi,” offers businesses a range of marketing services to support growth and visibility. According to their own marketing message, they focus on clear communication and create strategies that fit each client’s specific needs. Whether you want to strengthen your online presence or reach new customers, NAMYNOT can help with practical marketing solutions.

Here’s a quick look at what they offer:

Organic lead generation with content marketing.
Email marketing campaigns.
Custom marketing strategies, both online and offline.
Professional website design and maintenance.
Ad management.

With experience across various industries, NAMYNOT works with businesses of all sizes—They provide straightforward, adaptable solutions that can help your business move toward their goals.

And, they offer business bureau reporting, which means that you may be able to have your payments reported to help you establish or improve business credit.

You might also like: 41 Companies That Help Build Business Credit [Beyond Net 30 Vendors]

Company Overview

namynot inc. 159 n sangamon st pmb 2726, chicago, il 60607, états-unis

NAMYNOT Inc. is a Chicago-based web services company that was allegedly founded in 1999 (according to Crunchbase) or 2000 (according to LinkedIn) by Antonio Wells. The company is active and in good standing in the state of Illinois, but their incorporation date was in 2021.

Now, I did find namynot.com in the Wayback machine as early as 2002, which indicates that the company was probably in operation before that time. Based on the homepage screenshot saved over 20 years ago, the brand’s design trends were quite different at that time, with a focus on flash animation web design.

For fun, I popped in to see what NAMYNOT’s website looked like in 2010, and there had been quite an improvement.

Since the company’s launch, Wells has worn many hats. From 2017 to present, he’s been the Managing Director at Celebrity Myxer. From 2015 through 2017, he served as the Senior Manager of Web and Content at BlueStacks, and he was the Founder & Chief Editor at AndroidTapp for over seven years. It seems he’s an experienced entrepreneur with a focus on marketing. And, NAMYNOT is his longest-standing venture.

While I didn’t see any past or open lawsuits against the company, the Better Business Bureau (BBB) warns that they misused the BBB brand logo in that they are not accredited with the BBB. Still, they maintain 5-star reviews on the platform.

While I didn’t spend too much time searching for business aliases, I did not see NAMYNOT or nmi listed Trustpilot or Reddit. With a marketing service, this isn’t super alarming, but made me wonder if Wells had been freelancing through another platform to build clientele.

I did find wells on Upwork with 100% job success and great client reviews as far back as 2019. Clients consistently commend Antonio Wells for his SEO expertise, thorough research, and ability to create high-quality content that drives lasting results.

Upwork clients also value his professionalism, clear communication, and strategic insights, often noting how his work positively impacted their businesses. Many clients say that they plan to rehire him, describing him as reliable, knowledgeable, and easy to work with.

So, despite some ambiguity around its founding date and lack of BBB accreditation, the brand maintains a strong reputation. With consistent positive feedback and a focus on marketing, NAMYNOT has quietly built trust and credibility over the years. In short, they’re likely legit.

You might also like: How Can Crown Office Supplies Help You Build Business Credit?

What is a Net 30 Account?

A net 30 account is a type of credit account that gives you 30 days to pay off a purchase after receiving an invoice. It’s pretty common in business-to-business transactions.

For example, if a company buys supplies from a vendor with net 30 terms, they don’t have to pay upfront—they’ll get an invoice and have 30 days to settle it. It helps businesses manage cash flow by giving them more time to pay for goods or services while still keeping operations running smoothly.

And, many contemporary net 30 vendors offer payment reporting to business credit bureaus.

NAMYNOT Net 30 Features & Benefits

Again, NAMYNOT has a net 30 offer that’s worth a look. Here, explore the features and benefits of being approved for their net 30 terms.

1. Pay Later

With NAMYNOT’s net 30 business line of credit, you have the flexibility to purchase digital marketing services now and defer payment for up to 30 days—This means you can invest in essential services, like a website redesign or social media advertising, without immediate financial strain.

For example, if you need to launch a marketing campaign to promote a new product but are short on cash this month, you can use the net 30 option. You can focus on growing your business while managing your cash flow more effectively.

2. Build Business Credit

Timely payments on your Net 30 account contribute positively to your business credit profile. When you pay your invoices on time, your payment history is reported to Dun & Bradstreet (the leading business credit bureau).

This can improve your creditworthiness and open doors to better financing options in the future. As a business owner, you might become able to secure a higher credit line or more favorable loan terms, which makes it easier to fund your growth ambitions.

3. No Personal Guarantee Required

One of the significant advantages of our Net 30 account is that it does not require a personal guarantee or a credit check. This feature protects your personal credit score and separates your business finances from your personal finances.

For instance, if your business faces a financial hiccup, your personal assets remain safe. This can give you peace of mind as you focus on running and scaling your business.

You might also like: Here’s How to [Actually] Get Business Credit With Just an EIN +More

4. Up to $10K Credit Line

You can qualify for a credit line of up to $10,000, giving you ample resources to invest in your business. Whether you want to launch a new marketing initiative, hire freelance talent for a project, or upgrade your office equipment, a credit line can give you the flexibility you need.

Imagine having the capital to execute a comprehensive digital marketing strategy without immediate cash outflow—this could significantly boost your business visibility and sales.

You might also like: What is the Best Credit Card for Ad Spend? Expert Insights

5. Easy Application Process

Applying for a Net 30 account is straightforward and free of charge. This means you can get access to critical funding without the burden of complicated applications or hidden fees. The streamlined process allows you to focus on what matters most—growing your business.

Once your application is approved, you can start using your credit line almost immediately, which enables you to act quickly on new business marketing opportunities.

You might also like: Free, Printable Business Credit Application Template (+How to Use it)

How to Qualify for NAMYNOT Net 30

To qualify for a NAMYNOT net 30 account, make you meet the following requirements:

You own a profitable, U.S.-based business.
Your business is active and was registered at least 90 days ago.
You want to take advantage of NAMYNOT’s services.
You own at least 25% of the business.
Your business has an EIN and a DUNS Number.
No past, negative payment history has been reported about your business.
You have a professional website.

If you run a profitable business, have the title of Authorized Officer, and meet all the above requirements, you can confidently apply for a NAMYNOT Net 30 account.

Note: If you don’t yet have a professional website, NAMYNOT might be able to help.

You might also like: The CEO Creative Net 30 Review: Is it Worth Your Time?

Final Thoughts

NAMYNOT offers marketing services alongside a net 30 payment option, which can help you manage cash flow while investing in your business. Whether you need digital marketing, a website redesign, or want to build your business credit, their flexible terms can help without the pressure of upfront payments.

With an easy application process, no personal guarantee, and credit lines up to $10K, NAMYNOT’s Net 30 option could be a practical choice if you’re looking to expand your marketing efforts. What do you think?

Do you wanna learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

FairFigure Review: Is it Really That Easy to Build Business Credit?

By Joe

I first discovered FairFigure when writing up my most recent post, a comprehensive Fidextech review. I found it so interesting that I put it at the top of the list to research next. Now, here’s everything I know.

Let’s take a look at what FairFigure is, see an overview of company leadership, and explore the features of the card in detail.

This is what’s in store:

What is FairFigure?
- Company Overview
FairFigure Capital Card Features
FairFigure Partnership Opportunity
Conclusion: Is FairFigure Legit?

Now, let’s roll!

What is FairFigure?

FairFigure is a platform designed to help small business owners build, monitor, and improve your business credit. They offer a service that allows you to track both your business and consumer credit scores in real time. It includes features like a Business Credit Correct tool that helps identify and fix incorrect information.

FairFigure also offers the FairFigure Business Capital Card, which you can use to get funding without personal credit checks or personal guarantees.

Key features include:

Business and consumer credit monitoring.
FairFigure Capital Card that helps build credit while providing same-day funding.
Payment reporting to commercial credit bureaus.
Identity Theft Protection and Darknet Scanner to help secure your company.

With FairFigure, there are no personal credit checks for funding or credit applications, since they rely on business EINs instead. The company positions itself as a tool to help businesses grow by helping them improve credit scores and secure better funding options.

You might also like: Low-Risk NAICS Codes +Best SIC Codes for Business Credit in 2024

Company Overview

FairFigure Capital LLC is a Fort Lauderdale-based company that was founded in 2021 by Dana Angelino. Angelino happens to own and co-own several other companies, including numerous net 30 offers that help people build business credit.

His other businesses include:

Crown Office Supplies
Shirtsy
Signsy
Greentees
Coconut Bikinis
A few others

So, FairFigure’s founder is as informed as anyone could be about the business credit building market and net 30 offers. Other than a bank executive, I can’t think of a better background for a business credit builder company leader.

While FairFigure is not Better Business Bureau-accredited, they have an A- rating on the platform, with minimal complaints and a handful of positive reviews from satisfied users.

I didn’t find any FairFigure reviews on Trustpilot, mentions on Reddit, or staff reviews on Glassdoor. Most of the reviews I did find appeared to be affiliate reviews, so I assume they were somewhat biased.

Without ever having applied for the card myself, I can only say that, if I were a betting man, I would wager that the company is trustworthy based on what I know about its leadership.

With that said, I did notice something about the offer that is quite misleading. FairFigure claims to offer cashback on card purchases.

However, while I was searching for the cashback amount, I came across a blog post on the official website that states: “Instead of cash back, [the FairFigure Capital Card] benefits primarily revolve around your credit.”

I’m not a fan of deceptive messaging or brands with a lack of transparency, so this doesn’t sit so well with me. But, even without cashback, the offer is worth taking a look at.

You might also like: 41 Companies That Help Build Business Credit [Beyond Net 30 Vendors]

FairFigure Capital Card Features

The FairFigure Capital Card is a “no PG” (no personal guarantee) business credit builder card. It lets you apply using your company’s EIN, which allows you to build business credit without personal credit checks or guarantees.

The card offers:

Flexible four or eight week repayment terms.
Credit monitoring tools.
Identity theft protection.
Reporting to commercial credit bureaus.

Moreover, it provides funding based on business revenue and reports payments to key business credit bureaus, which helps boost your credit score. Ultimately, it’s designed to separate personal and business finances, which makes it practical for small businesses that want to build credit and access funding.

Note, funds must be repaid in full within the payback terms you choose—It’s more like a corporate card, not a credit card.

1. No Personal Guarantee

You don’t have to worry about personal credit checks or guarantees when you apply for the FairFigure Card—This keeps your personal and business finances separate, which reduces the risk to your personal credit score and assets.

No PG business credit offers are perfect for businesses that want to build credit solely through their EIN.

You might also like: Here’s How to [Actually] Get Business Credit With Just an EIN +More Options

2. Adjustable Spending Limits

Your spending limit with FairFigure is based on your business revenue. For example, if your business meets the qualifications, you could start with a $1,000 limit. As your revenue grows, so does your spending power.

So, if your business brings in $10K in monthly revenue, you might qualify for an $8K limit. The scalability allows you to extent your purchasing power as your business expands and gives you access to more capital when needed.

3. Net 30 or Net 60 Repayment Terms

Net 30 or net 60 terms refer to how much time you have to pay back what you’ve borrowed. With FairFigure’s card, you can choose either 30 or 60 days to pay your balance in full.

If you choose net 30, you’ll need to pay off your card in full within 30 days of making a purchase. And, if you choose net 60, you have 60 days.

4. Personal and Business Credit Monitoring

For $30 per month, FairFigure offers business credit monitoring that helps you track your financial health.

FairFigure monitors business credit scores from:

Fundex
CreditSafe
Equifax

And, provides consumer credit monitoring from:

Equifax
Transunion
Experian

This service not only keeps you updated on your credit scores but also reports your $30 monthly subscription as a separate vendor tradeline.

So, paying for the monitoring service helps build your credit faster by adding an extra positive payment to your business credit report.

5. Identity Theft Protection

With the $30 credit monitoring subscription, FairFigure includes $1 million in identity theft protection to safeguard your business. You’ll also benefit from a Darknet scanner that alerts you if your business’s sensitive information is exposed.

With this added security, you can focus on growing your business without the worry of identity theft.

6. Reporting to Business Credit Bureaus

According to FairFigure’s official website, they report data to:

Equifax Commercial
CreditSafe USA
SBFE
Their own Foundation Report

So, you can get your credit monitoring and FairFigure card payments reported to these bureaus.

However, there is no current indication that FairFigure reports to Experian Business or Dun & Bradstreet. This may change, so it’s a good idea to check their official website for the most up-to-date information.

You might also like: Everything You Need to Know About a DUNS Number – and Why You Should Care

FairFigure Partnership Opportunity

Again, I first learned about FairFigure through Fidextech, a web design and marketing agency that offers FairFigure net 30 terms to their clients, which caught my attention.

Through the affiliate program, you can earn up to $120 for each client or customer who signs up and is approved for the FairFigure Capital card. The card allows you to offer net 30 terms to your clients who can then pay you while building positive payment histories.

The program supports new businesses by establishing their profiles with credit bureaus and helps most business owners get approved for at least $1,000 in initial funding.

You might also like: A Complete Fundwise Capital Review: Should You Use Their Business Funding Services?

Conclusion: Is FairFigure Legit?

So, can you really build business credit that easily with FairFigure? It’s a bit more complex than a simple yes or no. While FairFigure offers two tradelines—the Capital Card and the monitoring service—these alone may not be enough to significantly boost your business credit.

Still, you can use the FairFigure card to pay your other tradelines, which might be super helpful. Keep in mind that paying $30 for credit monitoring is optional and may not be necessary on the business credit building journey; there are other ways to track your credit without this added expense.

Ultimately, FairFigure provides some solid tools, but building substantial business credit often requires more than just these offerings. Consider your options carefully before you dive in.

Want to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

Newegg Net 30: Build Business Credit Shopping for Electronics

By Joe

If you’re a business owner who wants to build business credit, and you’re in need of any of Newegg’s range of electronics, you may be interested in Newegg net 30 payment terms. Using their net 30 terms responsibly, you can get your on-time payments reported to business credit bureaus…But, is it worth it?

Here, I’ll explain exactly what you can expect with Newegg net 30, from the product offer to how to apply, and how your payments can impact your business credit. I’ll share everything I know.

This is what’s in store:

What is Newegg Net 30?
How to Get a Newegg Business Account & Apply for Net 30 Terms
What Does Newegg Net 30 Do?
Frequently Asked Questions
Final Thoughts

Now, let’s dive in!

What is Newegg Net 30?

Newegg Net 30 is a “buy now pay later” credit line offered to businesses through Newegg Business, which allows you to manage your purchases with ease (and build credit). With Net 30 terms, you have 30 days to pay for any purchases, free of fees—This flexibility helps with managing your cash flow, giving you extra time to settle your invoices.

The service includes a centralized account management dashboard for primary users, which enables easy access to view and manage all your invoices in a printer-friendly PDF format. You can also manage and increase your spending limits as needed.

To apply for Newegg Net 30, you need a Newegg Business account. The application process takes approximately 3-5 business days, and approval notifications are sent via email.

After that, you can make purchases with net 30 terms (or net 55) and Newegg will report your on-time payments to Dun & Bradstreet and Equifax Business. In turn, on time payments will contribute to an increased business credit score.

What Does Newegg Offer?

Newegg offers a comprehensive range of electronics and IT products tailored for businesses. Their selection includes:

Computer hardware
PCs and laptops
Data storage solutions
Networking equipment
Servers
IT solutions

They also provide computer peripherals, POS and digital signage, business software, and office supplies. Additionally, Newegg has products in the automotive and industrial sectors, as well as a variety of refurbished items.

Whether you need business laptops, desktops, docking stations, printers, or software, Newegg has a wide array of products to meet your business needs.

You might also like: Summa Office Supplies: Should You Leverage Net 30 Terms?

Newegg Net 30 Requirements

Newegg Business serves all sized businesses, education institutions, government entities, healthcare procurement, and VARs & SIs—To apply for Newegg Net 30 terms, you need to make sure you meet several key requirements.

First, you must have an active Newegg Business account—This account serves as the foundation for managing your transactions and credit terms with Newegg. Only the primary account holder is eligible to apply for Net 30 terms, although they can authorize sub-users under the account to use the credit line.

You will also need to provide your organization’s DUNS number, a unique identifier often required for business credit applications.

Moreover, gather essential business information including your:

Registered business name (with DBA if applicable)
Federal tax ID or Employer Identification Number (EIN)
Organization phone number
Registered business address
Your organization’s website URL

You also need a business email address to create a Newegg Business account to apply for Net 30 terms. This email will serve as your login for the account and will be used for communication regarding your Net 30 terms application and other account-related matters.

Lastly, ensure you have user information ready for the primary user who will manage the account, including their first and last name, job title, a business email domain, and a chosen password.

You might also like: Free, Printable Business Credit Application Template (Plus, How to Use it)

Company Overview

Newegg Business Inc. is a Los Angeles-based, for-profit eCommerce company that was founded in 2001 and officially established as a subsidiary of Newegg Inc in 2011. The company is currently active and in good standing with the California Secretary of State.

Newegg’s current CEO, Anthony Chow, has been with the company since 2006, and has a strong executive background, having previously worked with STI corp, Otto Group, and Haier.

However, they have a below industry average rating on Glassdoor, where employees are fairly unsatisfied with their treatment. Newegg has a 2.2-star rating on the platform, with particularly low senior management ratings.

While staff opinions can tell you a lot about a company, customers are even more important to listen to. NeweggBusiness has garnered a poor TrustScore of 2 out of 5 on Trustpilot from 12 reviews.

Trustpilot complaints primarily focus on issues such as poor customer service, delays in order processing and delivery, product quality concerns, and difficulties with returns and refunds. Keep in mind, this sample is rather small, and people are more likely to leave a review when they’re upset than when they’re satisfied.

I found one lawsuit targeted at Newegg Business Inc., which was filed by Rose Moroso for personal injury that doesn’t fall under other specified categories. The case is currently pending in the Chatsworth Courthouse of the Los Angeles County Superior Courts in California.

Because the case is pending, I can’t speak to any conclusions that might be drawn.

In all, the Newegg Business Inc., the company that oversees Newegg Net 30, is a legitimate business, but they may have some issues with customer service and employee satisfaction.

You might also like: How to Use a Home Depot Business Account to Boost Your Credit

How to Get a Newegg Business Account & Apply for Net 30 Terms

Applying for Newegg Net 30 terms is straightforward if you follow these steps:

Log into your existing Newegg Business account or create a new one if you haven’t already.
Navigate to your account dashboard where you’ll find the “Apply” link within the Net 30 Term Account section. Click on this link to access the application form.
Fill out all required fields accurately and completely, Make sure that all business and user information is correct and up-to-date.
Submit the application form electronically through the provided interface.

Processing typically takes 3-5 business days, so you’ll have to wait—You will receive an email that notifies you of your application status. If Newegg requires additional information or verification, they will contact you using the primary email associated with your account.

For further assistance or questions about the application process, contact Newegg Business directly at (888) 482-6678 or email sales@Newegg Business.com.

You might also like: This is How to Get Grainger Net 30 Terms (+Build Business Credit)

What Does Newegg Net 30 Do?

Newegg Net 30 offers businesses a valuable financial tool by providing a flexible payment option for purchasing electronics and other essential products. This payment term allows businesses to manage their cash flow effectively, balancing immediate operational needs with financial stability. It’s akin to having a line of credit tailored to your purchasing needs, offering convenience and flexibility in procurement.

1. Comprehensive Product Offer

Newegg boasts a diverse array of electronics, hardware, and software products suited for businesses across various industries. From high-performance computing equipment to everyday office supplies, Newegg covers a wide spectrum of business needs.

Now, Newegg’s prices aren’t the best. To show you an example, I pulled two products at random:

Newegg has the highest advertised price on the Brother IntelliFax-2840 High-Speed Laser Fax.

But, their price for the Acer Nitro XZ271U 27″ 1500R Curved Zero-Frame Monitor is competitive.

While prices on Newegg may sometimes be higher, the convenience and deferred payment option can outweigh the slight premium. And, compared to other net 30 vendors I know of, their prices don’t seem to be marked up quite as much—I believe this is because they work with various vendors, which drives competitive pricing.

When shopping on Newegg, consider the total cost of ownership rather than just the upfront price. Factor in the convenience of deferred payment and the business credit-building potential, which has value in itself. And, keep in mind that you can probably write off some of these purchases, though you’ll have to ask your accountant to be sure.

You might also like: Is Dell Business Credit Worth Your Time?

2. 30 or 55 Days to Pay

The 30-day and 55-day payment windows that Newegg Business Net 30 and Net 55 offer can significantly impact your business finances by providing a buffer in cash flow management—This period allows you to procure necessary equipment or supplies without immediate financial strain. Buying now and paying later can preserve liquidity for other expenses.

However, it’s super important to honor payment deadlines diligently to avoid late fees and maintain a positive relationship with Newegg Business. When you don’t pay on-time, you’re at risk of having this reported to business credit bureaus as well, which can negatively impact your business credit.

Note: Newegg’s Net 55 terms are harder to come by and offered through Synchrony Bank (accessible after your business credit is established).

Use your 30-day or 55-day payment term strategically to optimize your cash flow. By timing your purchases and payments just right, you can synchronize cash inflows and outflows, which can make your business finances more stable. And, along with other vendor offers like Uline Net 30 or Amazon Net 30, you can use your purchases to boost your business credit score.

You might also like: Using 30 Day Net Vendors to Build Your Business Credit Score

3. Reasonable Application Process

While instant account approval isn’t an option, Newegg’s Net 30 application process is straightforward and typically processed within 3-5 business days. You are required to furnish basic business information and undergo a credit evaluation—This cautious approach helps make sure that credit terms are extended responsibly.

You can get your business matched with suitable purchasing power without unnecessary delays. You can also treat the application process as an opportunity to assess your business’s financial health—By understanding your creditworthiness and how it’s perceived by vendors like Newegg, you can proactively manage and improve your business’s financial standing over time.

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4. Reports to Business Credit Bureaus

One of the standout benefits of utilizing a Newegg Net 30 account is that they report on-time payments to business credit bureaus. This helps establish and strengthen your business credit profile, potentially opening doors to better financing options and vendor relationships in the future.

On the other hand, failing to pay on-time can negatively impact your credit score, limiting your access to favorable terms from other suppliers and financial institutions.

And, some people have cited that they don’t report frequently or that their payments weren’t reported at all. Whether this is true or not, I can’t personally speak to.

Look at your net 30 account, not just as a purchasing tool, but as a means to build long-term financial credibility. Consistent, timely payments demonstrate reliability and responsibility, which can enhance your business’s reputation and negotiating power in the marketplace.

You might also like: 2 Additional Vendors that Report to DNB Automatically

5. Affiliate & Reseller Programs

Newegg Business offers two key programs beneficial for small businesses interested in leveraging their offerings and utilizing Net 30 terms.

The Affiliate Program allows you to earn commissions by referring customers to NeweggBusiness through their websites. It’s free to join, requires no startup or maintenance fees, and provides easy-to-use marketing tools such as text and banner links.

You can promote a wide range of products including:

Computer electronics
Office supplies
Networking gear

The Reseller Program enables you to sell directly on Newegg’s platform, which reaches over 350,000 verified business customers and taps into a global marketplace of over 37.3 million customers. Sellers benefit from low commission rates applied only to successful sales, along with tools like Shipped By Newegg (SBN) for streamlined fulfillment services.

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6. Rewards Program

Newegg Business Rewards is a loyalty program where you earn “BizPoints” based on your purchases, with higher tiers offering increased benefits.

At the Platinum level (for purchases over $20K), you earn 2 BizPoints for every $2 spent, along with perks like hassle-free returns and discounted Saturday deliveries.
Gold level members (spending up to $5K), earn 1.5 BizPoints per $2, with benefits including free shipping on eligible orders over $500.
Silver level (for purchases up to $4,999), earns 1 BizPoint per $2, and provides access to exclusive offers.

So, purchases on the platform are incentivised.

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Frequently Asked Questions

Can you finance a PC on Newegg?

Newegg offers financing options through partners, including terms like Net 30 and Net 55, allowing you to finance purchases, including PCs.

Does Newegg let you make payments?

Yes, Newegg accepts various payment methods, including credit/debit cards and financing options such as Net 30 and Net 55, tailored to different purchasing needs.

Does Newegg report to Dun & Bradstreet?

Yes, Newegg Business reports net 30 payment history to Dun & Bradstreet and Equifax Business. Timely payments can positively impact your business credit profiles with these bureaus.

How many Net 30 accounts should you have?

It’s recommended to have a few well-managed Net 30 accounts to build your business credit effectively. Aim for a manageable number, typically ranging from 2 to 5 accounts, depending on your business’s size and credit goals.

What is the Newegg scandal?

The Newegg scandal involved a situation where a customer returned an open-box motherboard to Newegg, but upon receiving it, Newegg claimed it was “damaged.” This assertion was contested and, despite the controversy, Newegg eventually resolved the issue by offering a refund to the buyer.

Final Thoughts

Newegg Net 30 offers a strategic way to manage cash flow while building your credit profile through timely payment and reporting to business credit bureaus—This service provides flexibility with 30-day repayment terms, which enables you to access a wide range of electronics and IT products without immediate financial strain.

Despite some concerns about customer service and employee satisfaction, Newegg Business Inc. remains a viable option for businesses seeking to optimize purchasing power and enhance their creditworthiness in the marketplace.

If you’re considering leveraging Newegg Net 30, weigh its benefits against potential drawbacks to make an informed decision for your specific circumstances.

Ready to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

Credit Check	Rewards	Reports to	Card Type	Monthly Cost
No	Up to 1%	Equifax Experian	“Debit”	$20 – $25
No	Chime “Deals”	Transunion Equifax Experian	Secured	$0