Tag: regarding

Big Changes with WEX Fleet Cards Regarding Personal Guarantees

Wrights Express, or WEX,  is a universal fleet fuel card provider associated with a number of stations across the U.S. They offer a number of fuel card rewards programs and benefits designed to cater to a business’s specific needs and gas station preference. 

Historically, they have also been one of the only credit issuers that a company could get a business credit card from without a personal guarantee. Unfortunately, this is no longer the case.

WEX Now Requires a Personal Guarantee on Business Fleet Cards 

As of Friday, May 13th, 2022, WEX now requires a personal guarantee on any business credit card they issue. This is a big change that is going to rock the fleet credit world. In fact, it may even be the biggest change with the most impact on business credit in the past 10 years.

What Does this Mean for Businesses?

It’s going to make it hard for a lot of businesses to get a credit card or account to manage company automobiles. Trucking company owners looking to add a business credit card to manage their fleet are going to be hit the hardest. They aren’t the only ones though. Any company that wants to use fleet credit is likely to struggle.

Why Will the WEX Personal Guarantee Requirement Cause Some Business Owners to Struggle?

Before the change, WEX was one of the few fuel card options for business owners that do not have good consumer credit. They could access a WEX fuel card on the merits of their business credit only. Then, they could take care of fleet related expenses using the business credit card regardless of consumer credit.

Approval Based Only On Business Credit History No Longer an Option

Now, this is no longer an option. With the added requirement of a personal guarantee, business owners with bad credit will have a harder time getting the fleet fuel cards that they need.

Why Did WEX Change Their  Personal Guarantee Requirements for Business Credit Cards?

Most business credit cards already require a personal guarantee. There are a select few that do not, and with this change, the number is even fewer

The reasoning behind the WEX decision is that it helps prevent fraud. The addition of a consumer credit check and personal guarantee requirement is thought by WEX to be a way to help prevent fraud.

They see it as a layer of protection for both themselves and the small business owners they serve with business credit cards. Of course, in the end, this policy reduces risk for WEX and increases personal risk and personal liability for business owners. This is because by definition, a personal guarantee means if the business defaults, the business owner is responsible for the debt.

How Big Of An Impact Will This Change Have on the Ability to Get a Business Credit Card for Fuel?

Honestly, it’s big. Just to give you an idea, here is a list of brands affected in addition to WEX’s own brand.

WEX Associated Fuel Card Brands

  • 7-Eleven
  • 76®  
  • Chevron and Texaco  
  • Circle K
  • CITGO
  • DK
  • ExxonMobil  
  • GetFleet
  • Gulf
  • Irving Commercial 
  • Kum & Go
  • MAPCO
  • Marathon
  • Maverik
  • Meijer
  • Murphy USA
  • Phillips 66®
  • QuikTrip
  • RaceTrac
  • Royal Farms
  • Sheetz
  • Shell  
  • Sinclair
  • Speedway  
  • Stripes
  • Sunoco
  • Tesoro
  • Thorntons
  • Valero
  • Wawa

As you can see from this list, the ripples caused by this monumental  change are far reaching. Add in the fact that often this type of credit card isn’t just for fuel purchases, and the impact is even larger. Sometimes they aren’t even limited to purchases at gas stations. In addition to fuel purchases, many fuel cards can be used to pay for fleet maintenance, car washes, and even snacks at gas stations.

What Can You Do?

The big question, if you fall into the rather large category of those needing to access business credit fleet fuel cards that do not have the best consumer credit, is what now? Well, now is the time to double down on both business credit and consumer credit.

Build Credit for Your Business

Building business credit is more important than ever. That’s because if you do have great company credit, your consumer credit may not weigh as heavily into the approval decision.

Business Credit Can Help With More Than Approval

Beyond that, it can affect the terms, limits, and rates you receive. A consumer credit score that is just okay along with a great company credit score is going to do a lot better than two just okay scores. This is true with most any credit card for businesses, not just fleet fuel cards.

Business Credit Still Matters

Whatever you do, do not let business credit go by the wayside simply because consumer credit is now going to come into play when you apply for a WEX fuel card.

The stronger it is, the more likely you are to get approval for WEX fleet fuel cards, and any other credit card for your business for that matter, even if your personal credit is lower than those who make approval decisions would like.

Still, it may be harder to get fleet fuel cards initially, before you have established business credit, if your consumer credit does not meet the WEX requirements for a personal guarantee.

WEX is Still Useful for Building Credit For Your Business

It’s important to note that WEX is still one of the few credit card providers for businesses that report to the business credit bureaus.

That means their fleet fuel cards are still useful not just for managing cash flow and expenses, but also for building business credit.

You just have to be more aware of your personal credit and ensure your company credit is as strong as possible before you apply for a fuel card from them.

Can You Still Access Business Gas Cards?

Yes! There are still options for Business Fuel Credit Cards without a personal guarantee, it may just require a little additional work to get there. You need to build business credit in the fastest, most effective way possible. That’s where Credit Suite can help.

Not only can we help you build your credit for your business, but we can also help you find the best business credit cards and accounts for your specific needs.

The post Big Changes with WEX Fleet Cards Regarding Personal Guarantees appeared first on Credit Suite.

Vital Facts regarding Payday Loans

Vital Facts regarding Payday Loans An individual normally in poor demand of cash money as a result of unexpected or emergency situation spending plan needs will certainly often count on this type of payday advance systems simply to correct his/her existing financial issues, although intentionally that they are heading to a much tougher monetary setting … Continue reading Vital Facts regarding Payday Loans

Regarding Employment Insurance

Concerning Employment Insurance That can likewise be stated concerning occupations and also tasks. Lack of offered job, mass lay-off and also retrenchments, mergings and also reconstructions, in today quick rate anything can take place. Being ready is constantly the most effective means to support the results of loosing revenue. Having insurance coverage work makes you …

Regarding Employment Insurance

Concerning Employment Insurance

That can likewise be stated concerning occupations and also tasks. Lack of offered job, mass lay-off and also retrenchments, mergings and also reconstructions, in today quick rate anything can take place.

Being ready is constantly the most effective means to support the results of loosing revenue. Having insurance coverage work makes you remain to take pleasure in the advantages of revenue. Work insurance policy can assist you on obtaining maternal, health issues thoughtful treatment solutions, offer assistance for a family member that is ill, looking after a baby, also fishing advantages as well as much more.

To look for a work insurance coverage all you need to do is send an application online. When the candidate will certainly get cash when out of work, Employment insurance coverage is paid also.

When making an application for a work insurance coverage a “Record of Employment” will certainly be needed from you that you will certainly need to receive from your last company or an evidence of work like pay slides, pay stubs as well as accreditation.

Various other papers that you will certainly require when you obtain an Insurance Employment will certainly consist of:

Social insurance coverage Number. You will certainly have to provide a document of work covering the previous 52 weeks When asserting for clinical as well as health issues advantage, a clinical certification will certainly have to be equipped.

Checks or nullified checks from your present individual account will certainly be called for, as settlements will certainly be made straight to that account. When obtaining adult advantages, the Social Insurance variety of the various other moms and dad will certainly be needed.

If you are using for caring treatment advantage, a clinical certification has actually to be provided. Do not postpone when using for a work insurance policy, postponing the application past 4 weeks can trigger fines or loss of advantages.

You will certainly have to compensate the quantity out of your work insurance policy advantage if you obtain monetary support develop the social solutions while waiting to obtain the Insurance work cases.

If you are indisposed as well as can not look for your work insurance coverage, a visit agent can be appointed to do the application in your place,

After you have actually looked for your work insurance policy, you will certainly obtain in your mail an advantage declaration consisting of an accessibility code and also the day for your very first record. Having an accessibility code does not yet imply that your case has actually currently been chosen. Along with this will certainly be a guideline on exactly how to finish your record.

You will certainly begin getting your work insurance policy advantages 28 days after the declaring if you have actually submitted your record with all the called for info pleased.

Having insurance policy work makes you proceed to delight in the advantages of earnings. Work insurance coverage can help you on getting maternal, illness thoughtful treatment solutions, supply assistance for a participant of the family members that is ill, caring for a baby, also fishing advantages and also numerous even more.

You will certainly have to provide a document of work covering the previous 52 weeks When asserting for clinical and also illness advantage, a clinical certification will certainly have to be equipped. Do not postpone when using for a work insurance policy, postponing the application past 4 weeks can trigger fines or loss of advantages.

After you have actually used for your work insurance coverage, you will certainly get in your mail an advantage declaration consisting of a gain access to code as well as the day for your very first record.

The post Regarding Employment Insurance appeared first on ROI Credit Builders.

Regarding Employment Insurance

Concerning Employment Insurance

That can likewise be stated concerning occupations and also tasks. Lack of offered job, mass lay-off and also retrenchments, mergings and also reconstructions, in today quick rate anything can take place.

Being ready is constantly the most effective means to support the results of loosing revenue. Having insurance coverage work makes you remain to take pleasure in the advantages of revenue. Work insurance policy can assist you on obtaining maternal, health issues thoughtful treatment solutions, offer assistance for a family member that is ill, looking after a baby, also fishing advantages as well as much more.

To look for a work insurance coverage all you need to do is send an application online. When the candidate will certainly get cash when out of work, Employment insurance coverage is paid also.

When making an application for a work insurance coverage a “Record of Employment” will certainly be needed from you that you will certainly need to receive from your last company or an evidence of work like pay slides, pay stubs as well as accreditation.

Various other papers that you will certainly require when you obtain an Insurance Employment will certainly consist of:

Social insurance coverage Number. You will certainly have to provide a document of work covering the previous 52 weeks When asserting for clinical as well as health issues advantage, a clinical certification will certainly have to be equipped.

Checks or nullified checks from your present individual account will certainly be called for, as settlements will certainly be made straight to that account. When obtaining adult advantages, the Social Insurance variety of the various other moms and dad will certainly be needed.

If you are using for caring treatment advantage, a clinical certification has actually to be provided. Do not postpone when using for a work insurance policy, postponing the application past 4 weeks can trigger fines or loss of advantages.

You will certainly have to compensate the quantity out of your work insurance policy advantage if you obtain monetary support develop the social solutions while waiting to obtain the Insurance work cases.

If you are indisposed as well as can not look for your work insurance coverage, a visit agent can be appointed to do the application in your place,

After you have actually looked for your work insurance policy, you will certainly obtain in your mail an advantage declaration consisting of an accessibility code and also the day for your very first record. Having an accessibility code does not yet imply that your case has actually currently been chosen. Along with this will certainly be a guideline on exactly how to finish your record.

You will certainly begin getting your work insurance policy advantages 28 days after the declaring if you have actually submitted your record with all the called for info pleased.

Having insurance policy work makes you proceed to delight in the advantages of earnings. Work insurance coverage can help you on getting maternal, illness thoughtful treatment solutions, supply assistance for a participant of the family members that is ill, caring for a baby, also fishing advantages and also numerous even more.

You will certainly have to provide a document of work covering the previous 52 weeks When asserting for clinical and also illness advantage, a clinical certification will certainly have to be equipped. Do not postpone when using for a work insurance policy, postponing the application past 4 weeks can trigger fines or loss of advantages.

After you have actually used for your work insurance coverage, you will certainly get in your mail an advantage declaration consisting of a gain access to code as well as the day for your very first record.

The post Regarding Employment Insurance appeared first on ROI Credit Builders.

Regarding Basic Bank Accounts

Concerning Basic Bank Accounts Regardless of less complicated than ever before accessibility to individual financing solutions, there are still 3 million grownups in the UK today that are totally outside the financial system, as well as do not have accessibility to a savings account. A lot of these individuals are incapable to obtain a common …

Regarding Consumer Credit

Concerning Consumer Credit If you do not comprehend non-mortgage consumer debt, you will certainly be even more most likely to abuse credit report, as well as destroy your monetary circumstance. That is why the topic of non-mortgage consumer debt is so crucial.When they obtain their trainee credit history card, a whole lot of individuals obtain …

Regarding Consumer Credit

Concerning Consumer Credit

If you do not comprehend non-mortgage consumer debt, you will certainly be even more most likely to abuse credit report, as well as destroy your monetary circumstance. That is why the topic of non-mortgage consumer debt is so crucial.
When they obtain their trainee credit history card, a whole lot of individuals obtain their initial experience with customer credit score. This is where their research of non-mortgage consumer debt starts. Bank card customers require to be well-informed in credit score terms such as APR, benefits, equilibrium transfer and also money back.
You can additionally obtain division shop cards details to one brand name shop. The APR on these customer credit report cards is typically substantially greater than a lot of routine credit report cards.
When you are a customer of credit scores you require to recognize your lawful civil liberties to ensure that you can safeguard on your own. If you are being worried by collection agencies, you ought to be mindful of the Fair Debt Collection Act, which lays out the policies that restricts the activities an enthusiast can make use of to fetch his cash.
You can obtain your credit history record from a credit report reporting bureau. You might be qualified for a totally free credit score record to watch your customer credit history standing.
Non-mortgage consumer debt therapy
Abuse of credit scores can frequently result in a high quantity of non-mortgage consumer debt financings which can consequently bring about personal bankruptcies. It might be beneficial to look for out customer credit rating therapy if you are dealing with a frustrating financial debt circumstance.
Customer credit report therapy might aid if your credit score scenario has actually weakened. Therapy can aid you identify your monetary circumstance as well as assist you locate methods to fix your credit report. Therapy can aid you far better handle your financial resources, to ensure that you can avoid of financial obligation and also end up being an extra enlightened customer of non-mortgage consumer debt.

A great deal of individuals obtain their very first experience with customer credit history when they obtain their trainee credit rating card. The APR on these customer credit rating cards is commonly substantially greater than a lot of normal credit scores cards.
You might be qualified for a cost-free debt record to see your customer credit scores condition. If your credit rating circumstance has actually worn away, customer credit scores therapy might aid.

The post Regarding Consumer Credit appeared first on ROI Credit Builders.

Important announcement regarding Juice app

May 1 2018 Since early 2015, tens of thousands of users have used our free mobile app which has allowed them to analyze the interests of their Twitter tweeps and share content their followers love.  Today, we have an important announcement regarding the Juice mobile app. After some consideration, we have decided to discontinue the… Read more »

The post Important announcement regarding Juice app appeared first on Paper.li blog.