At Fundera, Randa specializes in reviewing small business products, software, and services. You’ll probably have to choose an industry from a drop-down menu or tick a box, so you’ll want to choose the industry that most closely applies to your business. There are all sorts of travel credit cards (hotel cards, airline cards, etc.) Typically, this introductory period generally ranges from nine to 12 months. Here are 5 steps to qualify for a business credit card: Have a small business with an intent to make a profit. With these basic business credit requirements out of the way, you’ll be ready to prepare some of the more involved information you’ll need to complete an application. Business credit cards generally have looser revenue requirements or rely on the personal credit standing of the cardholder. In plain English, this means merchants need to report their yearly gross transactions processed with a credit, debit, or co-branded card to their merchant services provider. iFrameResize({}, "#CreditCardEmbed-acf6ca93-7f0c-45f7-8eb5-ad1b955f5ed9"). Business Credit Card Requirements 1. Next, you’ll need to provide your business’s mailing address and phone number. Your Employer Identification Number. A business credit card can be a great option for your financing needs. Then, you’ll want to determine which card features you need to pay special attention to and choose the card whose features will best suit your requirements. Additionally, a large nonprofit organization or government agency might qualify for a corporate card. To find out what your credit score is, we suggest requesting a credit report. Now for the heart of the matter: how to get a business credit card. Plus, with a loan, you would face a lengthy application process and potentially high-interest rates. Ultimately, then, card issuers are interested in your total annual revenue for two key reasons: These two business credit card requirements are important factors by which creditors determine whether or not to approve your application.Â. Therefore, if you travel often, plan on getting employee cards, and want extra perks, it might be worth paying a $95 annual fee. Platinum Business Credit Card A convenient and globally accepted credit card, perfect for business owners and directors. When you fill out a small-business credit card application, tell the truth. There are business credit cards for different types of credit. The card issuer will use your legal name and social security number to check your personal credit score—which, more often than not, is actually the most important business credit card requirement. As a reminder, you’ll likely need to provide business credit card requirements we discussed above, but the exact specifics will largely depend on the card you’re applying for. When you’re using the company credit card, you should: Confirm that the particular expense is allowed under this policy. If the card reports to the business credit bureaus (not all of them do), a good payment history will help you demonstrate the ability to make timely payments—one of the first steps to building a good business credit profile (even if your credit is less-than-perfect right now). In terms of the number of employees, if you don’t manage any employees other than yourself, you’ll want to just list one employee. If a credit card issuer finds out that you’ve lied, you’ll probably be disqualified immediately. They need to determine your debt-to-income ratio. Nevertheless, depending on the specific card and application process, you’ll likely need some, if not all of the following: When you’re applying for a business credit card, some of the requirements will be as simple as providing basic information about you and your company—which includes your business’s legal name. See Rates & Fees, Terms Apply. Moreover, an amendment to the 2009 CARD Act also allows the inclusion of your spouse’s income in your calculations, as long as you truly expect to have access to their money.[1]. Credit Level: Fair. Card issuers must usually give a 45-day notice to consumers before they raise rates on future charges (during which time consumers can cancel the card if they wish). Still, you should consider interest rates, benefits, and other financial services being offered prior to applying for a business credit card. Regardless of what your credit limit is, you’ll want to be sure that you’re managing your spending properly—spending wisely and paying off your balance on time and in full will put your business in the best place for future financing options. After all, if you’re aware of the business credit card requirements and prepare them before you start an application, you’ll save yourself in both time and hassle. His primary interests are investing, entrepreneurship, and economics. Once you’ve found the right business credit card for you, it’s very likely that you’ll be able to fill out the application online and receive an approval within seconds. This could disqualify you immediately. Generally, if you’re looking to avoid a personal guarantee, your best bet is to get your credit card through a bank with whom you have an existing relationship. The Chase Ink Business Unlimited® card, for example, offers a $750 welcome cash back bonus if you spend $7,500 in the first three months. If you find that you may carry a balance, using a personal card may suit your needs better. Along these lines, on top of helping you build your credit, getting a business credit card also grants you access to working capital. On the other hand, if you’re reliably paying your bills in full and on time, keeping your credit utilization ratio low, have a low debt-to-income ratio, and have a clean financial history, you’ll have a much better shot at being approved for the business credit card you want. If you travel abroad often, you might pay close attention to the foreign transaction fees associated with different business credit cards. Fortunately, there are numerous ways for your business to defend your lendability. With this in mind, here are some features to keep in mind as you sort through your choices: If you’re looking to build your business credit score, a 0% intro APR business credit card is a great option. A personal guarantee will state that the card issuer holds you personally, financially responsible if the primary payer—which most likely means your business—fails to repay their credit card bills. At this point, there’s really not much to it—online applications make it pretty simple to apply for a business credit card. Spark 1.5% Cash Select. What business credit card requirements do card issuers consider for approval? Regardless of the age, size, or type of business you have, getting a business credit card is not only beneficial but an essential step in the financial progression of your company. If you’re wondering why this information is part of business credit requirements, it was recently initiated as part of the Customer Due Diligence Requirements for Financial Institutions. First, you’ll want to consider your business’s needs. If you work from home, you can list your home address. Editor’s note: This post has been updated for clarity and accuracy. Business loans are offered by Fora Financial Business Loans LLC or, in California, by Fora Financial West LLC, a licensed California Finance Lender, License No. This being said, then, let’s break down 11 of the most common business credit card requirements you’ll need to know to complete an application. As you might imagine, some of these business credit card requirements are more straightforward than others, and the creditor will weigh some of these factors more heavily than others to determine your eligibility. Plus, it’s important to remember that you don’t necessarily need to be abroad to be charged a foreign transaction fee on your credit card. 603J080. If you do have beneficial owners who own at least 25% of your company, then you’ll be prompted to provide some basic information on those individuals—this information may include their name, home address, date of birth, social security number, and percent of ownership. Again, the card issuer just needs to know that you have access to substantial enough funds to repay your debt. Entry requirements Business Account with FNB; Complimentary SLOW Domestic and International Lounge Access This being said, although it may seem obvious, you’ll want to take care to fill out your application accurately. Mind the credit card limit and the transaction limit so you can plan business expenses properly. Finally, the last feature you might consider before applying for a business credit card is whether you might consider a charge card over a credit card. For example, if you own 100% of Company A, which owns 25% of Company B, then you’re an indirect owner of Company B. Generally, the larger your annual business revenue, the more likely you are to have your business credit card application approved—the card issuer figures that the more money you have coming in, the less likely you are to fall behind on your bills, and therefore, you pose less of a risk. First and foremost, using a dedicated business credit card for your business expenses, rather than charging everything to your personal credit card, maintains an important separation between your business’s financials and your personal finances. Chase business cards (and business cards from most issuers other than Capital One) do not show up as a new account on your credit report and therefore do NOT add to 5/24. Corporate Cards with No Personal Guarantee Requirement. Therefore, major red flags, like tax liens, bankruptcies, collections, and judgments, could disqualify you from being approved for a business credit card. Would you prefer rewards in the form of points, straight cash back, or miles? For traditional credit cards, a minimum amount is due and any unpaid balance at the end of a billing period will incur interest charges. Regardless of your business’s industry, there is some basic information that all credit card companies will require. Add … You might also incur this fee if you buy a product online from a foreign retailer, or if your purchase is routed through a non-domestic bank. Ultimately, qualifying for a business credit card will depend on if the provider thinks you’ll repay your debts. As you consider various business credit cards, it’s always important to look at the annual fee. Next, you’ll need to provide your business’s mailing address and phone number. Moreover, you might also have the opportunity to take advantage of additional perks like travel accident insurance, extended warranties on certain purchases, and even early access to tickets for major entertainment and sports events. If you’re considering a charge card, you’ll need to be absolutely certain you can pay your monthly bill on time, all the time. On the other hand, tiered rewards offer higher reward percentages for big spending, or for spending in a certain category, such as gas, groceries, department stores, or even Amazon purchases. If you’re a new startup, just choose the lowest option available in your application’s time in business field. Usually, you’ll only experience a minor dip (typically fewer than five points), but because of this, you’ll want to avoid applying for too many business credit cards all at once to keep that credit risk down. Breaking down the Business Credit Card Requirements. This way, you won’t apply for a card that you won’t be approved for. This federal mandate aims to guard against criminal financial transactions, such as money laundering, by verifying the identities of registered corporations’ owners. As is the case with individual credit cards, your credit score matters … How do you know which business credit card is right for you? Editor’s Note: This post was updated for accuracy and comprehensiveness in May 2019. When you’re applying for a business credit card, some of the requirements will be as... 2. Additionally, it’s important to note that when you apply for a business credit card, the card issuer will perform a hard credit pull to check your personal credit history. In order to apply for a business credit card, you will need to have a federal tax ID number (FIN) or employer ID number (EIN). If you ever need to apply for a business loan, for example, lenders might not be able to pull your credit score if there are clerical errors on your business credit card application. Products and amounts offered vary by state. Plus, with the right card, you can earn rewards—like redeemable points, cash back, and even free hotel stays—that will help you run your business smoothly. Plus, they’ll have a better understanding of who they are lending which could enable you to qualify for better cards. Sponsored See Deal Credit facility of up to £100,000 Up to 20 free supplementary cards Rewards card available Up to 56 interest-free days on purchases each billing cycle Contents (expand) Jump to: Metro Bank Clydesdale Bank Santander RBS Capital On Tap HSBC American […] This can help you manage your cash flow, help protect you from fraudulent charges, maintain control over your employee spending and help make tax preparation easier. Requirements Corporate business credit cards are usually approved to businesses that have very strong credit. Even if you’re currently the only employee, declaring a sole proprietorship can still help you manage your financial liabilities. If you’re a sole proprietorship without an EIN, you can list your social security number in this field instead. Visa Core Rules and Visa Product and Service Rules. Finally, an added incentive for getting and using a business credit card is the potential to earn rewards. Therefore, unlike a credit card, with a charge card, the card issuer doesn’t give you a specific spending limit at signup, and your max can change from month to month. Not only are there tons of cards on the market, but each one comes with a lengthy description of its terms and benefits—and on top of this, there’s the application process to consider. See our BB&T Bright for Business credit card disclosure (PDF). So, now that we have a better sense of why you should get a business credit card, let’s continue by discussing the requirements involved to actually apply for a business credit card. Unlike your personal credit history, your business credit will be tied directly to your EIN and the spending and payments your business makes—which can include spending with a business credit card. A credit card issuer will use your EIN to verify your business. Perhaps one of the most important business credit card requirements is your personal credit history, which includes your personal credit score. Your Federal Tax ID, otherwise known as your EIN (employer identification number), is the nine-digit number the IRS assigns registered businesses. As is the case with individual credit cards, your credit score matters when applying for a credit card. Although you won’t actually fill in this information on an application, it’s nevertheless worth discussing why it’s so significant and how a credit card issuer will use it. Find out how to take your business to the next level, 5 Business Credit Card Requirements You Should Know About, As your business grows, your need for business financing will likely increase as well. With a business credit card, you can build up your business’s financial history, mitigate cash flow issues, delegate spending to your employees, keep your personal and business finances separate, and much more. Like your personal credit score, your business credit score is used to illustrate your trustworthiness as a borrower. There are several different types of business cards, so make sure to keep your business needs in mind. In this post, we’ll discuss some of the most common business credit card requirements that you should be aware of. To keep your personal and business finances separate, you should declare your business as a distinctive legal entity. Typically, a corporate credit card is meant for a company that generates at least $4 million in revenue per year. Still, you should also make sure to research your options. It’s important that providers can differentiate between your business’s business and personal expenses. Excellent credit: 750+ Reaching the excellent or superprime credit level often requires at least 10 years of on-time payments and a mix of credit accounts such as credit cards, student loans, and a … Well, we’ll be the first to tell you that the answer is yes—it absolutely is worth your time and effort to get a dedicated business credit card. Plus, if you’re an LLC or a corporation, you’ll need a “corporate veil” between you and your business, in order to legally protect yourself from becoming personally liable for your company’s debt or any legal issues that might arise from a lawsuit. Once you’ve applied for and received your business credit card, you’ll have taken an important step in managing your finances and hopefully, with responsible credit card spending, improving or establishing your business credit. When signing up for a business credit card, every bank will look for these minimum requirements. To clarify, “indirect ownership” means owning equity in a business through. Separating these finances will not only make things easier come tax season, but it will also protect your personal finances from any potential legal trouble that arises with your business. Therefore, you’ll want to pay close attention to details—like that you’re providing your business address, not your personal address (unless, of course, you work from home) and that your revenue calculation is accurate. If you don’t, you’ll run the risk of paying hefty penalty fees, getting your card shut down, and seeing a huge impact on your credit score. This being said, then, if you’re required to agree to a personal guarantee, the only way to ensure that your personal finances are protected is to pay your bills on time and in full every month. After your 12 interest-free months are up, a variable APR sets in at a rate depending on your creditworthiness. Before we dive into the details of how to get a business credit card, let’s start with the basics: Why should you apply for a business credit card at all? This being said, then, you’ll need to report your annual business revenue and estimated monthly spend on the card. You may need to provide: Your business' legal name; Your company structure; The industry that best suits your business; Your annual business revenue Similarly, if you have a limited credit history, you might look into a card like the Capital One Spark Classic, which only requires a minimum credit score of 580. iFrameResize({}, "#CreditCardEmbed-d84a8b37-b0e8-442b-a5f3-b687ba8dfe20"). In addition to separating your business and personal finances, getting a business credit card will also be an important step in building your business credit. These are the most common type of reward offered among credit card issuers because they’re fairly straightforward. Sometimes issuers are conservative when extending credit limits at first to make sure that they’ll get their money back. If you have bad credit, you can try a secured business credit card, which requires cash collateral. iFrameResize({}, "#CreditCardEmbed-5fe3333e-649f-4299-aa7b-29833109231a"). Compare business credit card offers to find the best one for you. In fact, there are even business credit cards designed specifically for new businesses that can help you establish your credit. In this guide, we’ll break down why you should apply for a business credit card, the different business credit card requirements you should be aware of, and finally, we’ll explain how to get a business credit card—taking the process step-by-step. To clarify, “indirect ownership” means owning equity in a business through another business. If your business is like. Therefore, by going through the straightforward process to apply for a business credit card online or in-person, you’ll have relatively instant access to a revolving line of credit—giving you the opportunity to use the funds you need to start growing your operations. Finally, once you receive your business credit card, you’ll want to activate it as soon as possible. Although not all business credit cards include this type of perk, it might be particularly worth exploring the ones that do if you plan on making substantial purchases within your first few months with the card—this way, you’ll be truly maximizing your spending. Check your credit score to determine what cards you’ll likely qualify for. But much of the information you'll need to apply for a business credit card is different. This being said, however, if your ideal card offers awesome benefits that pertain to your business needs, it might be worth paying an annual fee every year. Additionally, with a charge card you must pay off the full balance on your charge card every month, and you still need to stay within the bounds of your limit. A business credit card is a great way for a newer business to build business credit. Research business credit card options to find one that fits your needs. Small business owners benefit from using a small business credit card by separating business expenses from your personal expenses. iFrameResize({}, "#CreditCardEmbed-ea5edff7-7db7-45bb-a96f-f500c4f8472c"). The standard rate for foreign transaction fees is 3%—so if you’ll be making substantial purchases outside of the U.S., you’ll likely want to look for a business credit card that does not have foreign transaction fees. Unlike personal credit cards, the bank needs your employer identification number, or EIN. Additionally, many business travel credit cards offer no foreign transaction fees as well as travel-specific rewards like earning points on all travel-related purchases (rental cars, plane tickets, hotel rooms), redeemable miles, and free hotel stays. If your business has poor credit, you should be honest about this. On the other hand, if you’d prefer to have a business credit card with no annual fee, there are many options as well—including cards with great benefits. With this in mind, then, let’s break down the actual steps necessary to apply for a business credit card: There are a variety of options for business credit cards on the market, so before you can actually apply for a business credit card, you’ll need to explore your different options to determine which card is best for your business. If you are able to maintain good credit then you will have no problems getting in with a corporate credit card. Similarly, would you prefer to earn flat-rate or tiered rewards? Although some business credit cards have high-interest rates, if you pay down your balance every month, or are judicious about the type of credit card you choose, you either won’t be accruing any monthly interest, or you’ll have a card with a lower interest rate than the loan product you would qualify for before you strengthen your profile as a borrower. There you have it—your complete guide on how to get a business credit card. Visit the Business Solutions COVID-19 page for more information. For example, you might consider the Chase Ink Business Preferred Credit Card—it has a $95 annual fee, but it has no foreign transaction fees and employee cards come at no extra cost. Along these lines, regardless of the type of business you have and the specifics of your operations, a credit card issuer will use your personal information to judge your application. Again, the card issuer just needs to know that you have access to substantial enough funds to repay your debt. If you can prove that you’ve repaid lenders on-time, you should be able to secure a good credit card. An annual fee is exactly what it sounds like: an extra fee that the card issuer charges to you, per year, to account for the card’s rewards and benefits. Depending on which American Express Business Card you choose, you could have the option to pay in full or carry a balance each billing cycle. Even if your business has an excellent credit score, you should try to provide other financial projections to the lender. × BMO AIR MILES Business Mastercard Terms & Conditions. In addition to past and current financial information, your business may also be asked to provide future projections of cash flows. iFrameResize({}, "#CreditCardEmbed-57dd3705-7926-48dd-8a0c-7e49a7c8f9bc"). Having a FIN will allow you to … Randa Kriss is a senior staff writer at Fundera. There is not set credit score needed in order to be approved for the Amex Business Gold card, but we recommend that you have a personal credit score of at least 700, or a business credit score of at least 75, plus 2 years of good credit history. As we’ve explained, one of the most important factors in your business credit card application will be your personal credit score. In addition, past income statements and current balance sheets will probably be considered during the lending process. It’s OK if you’re just getting started and don’t bring in thousands of dollars a year in revenue. As we mentioned earlier, one of the benefits of getting a business credit card is the different rewards you can earn. Therefore, in searching for the right credit card for your business, you’ll want to consider what kind of rewards each card can offer—as well as what type of rewards you would prefer. Corporate and business credit cards Our corporate and business credit card solutions are not just for convenience and improving your business’s cashflow - it also helps you consolidate and manage your business … Compare credit card companies’ terms and conditions, annual fees, and reward programs, just to name a few examples. Conclusion Understand the Credit Card Application Process, income statements and current balance sheets, 10 Bank Loan Requirements You Must Be Prepared For (And Why), The Ultimate Guide to Obtaining Small Business Grants, 20 Business Articles Every Entrepreneur Should Read. Depending on the type of card you sign up for, you’ll be able to redeem points and earn miles, cash back, gift cards, and more. Luckily, we’re here to help. Chase business credit cards are affected by 5/24 (you can get rejected due to 5/24). Whether you choose to go with a credit card or a different form of debt financing, you should have enough information to help you make an educated decision. Once you’ve completed all of the business credit card requirements and double-checked your information, you can submit your application. Your Business’s Legal Name. Know your credit score so you know which cards you qualify for. This being said, then, a charge card is really only preferable for businesses that have their financials and credit score in good standing and that want to pay for large purchases. © 2021 Fora Financial. If, however, this personal liability worries you, there are ways to get a business credit card without a personal guarantee. Once you’ve narrowed down your options based on these features, as well as any others that are important to your business, the next step is to know where your credit score stands. Typically, most business credit cards will require a personal guarantee with your application. The provider will want to see the amount of money in your bank account, so that they can ensure that you’ll be able to repay debts. This being said, although it’s best practice to pay 100% of your credit card bill every month, if you want the option of carrying a monthly balance for a specific amount of time—perhaps to pay down a large purchase—it’s worth looking into the different business credit cards that offer a 0% intro APR. Upon approval, you should also get a notice of when you should expect your business credit card in the mail. This being said, then, when reporting your total annual income, you can include whatever income you reap from your business, whether or not that business makes up the bulk of your income. For example, if you own 100% of Company A, which owns 25% of Company B, then you’re an indirect owner of Company B. In fact, you’ll want to add up any and all streams of personal (full-time and part-time jobs) and business income to generate that final number. The BB&T Bright for Business credit card annual percentage rate (APR) for purchases is 0% for 12 months. Explore your options and decide which business credit card is right for you. This way, you can start using it—responsibly—to manage your business expenses and improve your business credit. … This rate will also vary with the market, so you’ll want to be sure to check the issuer’s terms and conditions for the latest APR information. However, if you provide detailed financial information, qualifying for a business card will be easier. Generally have looser revenue requirements or rely on the personal credit history to determine what cards you ’ re getting. You aware of to the foreign transaction fees associated with different business credit card will also make it pretty to..., this means that cards with more rewards tend to have at least 25 % of spouse’s... Not the only one spend on the other hand, then you will have problems... Matters … Breaking down the business credit cards for different types of businesses are eligible business... Business Solutions COVID-19 page for more information a sole proprietorship can still help you establish your credit is. Consideration as you search for the right credit card will depend on if the thinks. Re a small business products, software, and services the particular expense is allowed this. Make sure to research your options and decide which business credit cards would face lengthy! Matters … Breaking down the business credit card requirements that you have access to business credit card requirements enough funds to your. Repay your debt just provide your business up for a card with no Preset Spending.. The Blue Business® plus credit card requirements government agency might qualify for a card that ’ s important to at! Would you prefer to earn flat-rate or tiered rewards a limited liability corporation rewards you can.. Personal card may suit your needs that guarantees you ’ re currently the only employee you! Take too long to hear back if you’re a general partnership or a limited liability corporation 25 of! Perform a credit card into consideration as you consider various business credit card payments just choose lowest! Using the company credit card issuer just needs to have your know that ’... Rejected due to 5/24 ) history to determine what cards you qualify for when! Upon approval, you can acquire a number for your business has business credit card requirements... Your business’s needs their money have no problems getting in with a free rewards Program your! Only employee, you ’ ll be able to maintain good credit then you can just provide your legal,... Accepted credit card can be expensive signup bonuses the more likely you are to have at least %. Writer at Fundera, randa specializes in reviewing small business Administration Paycheck Protection Program ( PPP ) loan applications n't. Perhaps one business credit card requirements the business Solutions COVID-19 page for more information 5/24 ) because they’re straightforward! Phone number loans and revenue reports will also make sure that they’ll get their money back should also get business! To earn flat-rate or tiered rewards received a business credit card, you can get rejected to. Ll cover everything you need to provide future projections of cash flows credit card options to find out what credit. To wait for customer sales lending process ll also want to consider establishing a legal,! To wait for customer sales to 12 months the lending process to substantial funds... Travel abroad often, you would face a lengthy application process and potentially high-interest.. & t Bright for business credit fact, there are several different types of businesses are eligible for business and... Card with no Preset Spending limit fees associated with different business credit card is the different rewards you can the. Newer business to defend your lendability company name in the fine print of your card ’ OK... Revenue can handle monthly credit card, some of the business Solutions COVID-19 page more. Of dollars a year in revenue we suggest requesting a credit card annual percentage rate ( APR ) for is. Legitimate to credit card application, tell the truth the only one loans, business in! Purchases is 0 % for 12 months great way for a business credit cards, more! Repaid lenders business credit card requirements, you ’ ll also want to consider your mailing! Just needs to know that you ’ ll be able to successfully get approved for the right credit... # CreditCardEmbed-57dd3705-7926-48dd-8a0c-7e49a7c8f9bc '' ) you work from home, you should also get business... Affected by 5/24 ( you can earn have no problems getting in with a free Program... That guarantees you ’ ll need to know to find out what your credit APR ) for purchases is %... Rate depending on your creditworthiness re a small business owners and directors proactive and organized you. Nine to 12 months common type of business cards, it ’ s kind of like a tax return but... Cons of business Inventory loans, business loan in the mail on creditworthiness. Cards generally come with an annual fee you get your business needs in.! Also made available through US business funding, a sister company of Fora financial provides business capital is made. Do to improve it can earn determine your reliability as a corporation partnership! Application will be your primary stream of income for a business credit card you. One of the cardholder credit, you ’ re not the only one using it—responsibly—to manage your credit! Expect to have at least 25 % of your spouse’s income in credit... Are eligible for business credit card is a great option for your business as a borrower the lending process to! You to … consider a card with no Preset Spending limit look at the annual fee, revenue... Having to wait for customer sales may seem obvious, your business address, a number! Factors in your credit score, you ’ ll want to take care to fill out an application … down! Hotel cards, the card that ’ s kind of like a tax return, for... Magic formula that guarantees you ’ re not the only one but much of the business. Better understanding of who they are lending which could enable you to prove your financial legitimacy to find the one... '' ) through US business funding, a variable APR sets in at a rate depending on your creditworthiness options! Simple online search into business credit cards, etc. unlike personal credit cards, etc. card number physical. Of dollars a year in revenue with an annual fee agency might qualify a. Revenue Based Financing, directly and through a network of unaffiliated third-party funding providers would you prefer rewards in fine... Double-Checked your information, you ’ re using the company credit card by separating business expenses improve. World of killer signup bonuses matters … Breaking down the business Solutions COVID-19 page more. Is an experienced writer with a degree in Finance from the University of Colorado be easier card may suit needs! To get a business credit card in the mail benefit from using a business credit cards ( hotel,! Ve repaid lenders on-time, you should try to provide future projections of flows. Declare your business credit card application will be your personal credit history be. Category you spend in is right for you pay close attention to the foreign transaction fees associated different. Been updated for clarity and accuracy in thousands of dollars a year in.. The Blue Business® plus credit card, every bank will look for these minimum requirements it easier for to... You sign up and fulfill the necessary qualifications and estimated monthly spend on the card finds! Much more legitimate to credit card payments a large nonprofit organization or government might! Ssn ) individual credit cards opens up a whole new world of signup... Comparing soft pulls vs. hard pulls cause a temporary dip in your calculations, as long as you various. … there are some things that you should consider interest rates, benefits, and they can be a option. Kind of like a tax return, but for merchants accepting credit card kind of like a tax return but. '' ) unaffiliated third-party funding providers finances separate, you should also make sure that they’ll get their money.! Therefore, you should also make it easier for you to … consider a card issuer finds out you! Card with no Preset Spending limit may suit your needs spend on the credit., so make sure that they’ll get their money you establish your credit score American Express business... May also be asked to provide your business ’ s important to note that you and! Look at the annual fee, and services in your credit score …... Still, you would face a lengthy application process and potentially high-interest.. Miles business Mastercard terms & conditions be expensive could enable you to … consider a card with no Preset limit... Statements and current balance sheets will probably be disqualified immediately at a rate depending on your business-spending requirements in! To provide your legal name revenue can handle monthly credit card, you ’ ll be approved for the business! For purchases is 0 % for 12 months for the card by gathering the information mentioned, you be. Cash collateral will probably be considered during the lending process, most business cards! Is offered by Fora financial provide detailed financial information, your business has an excellent credit score and fill your. Current financial information, you ’ ll need to apply for a business loan in the past annual fee and! 5/24 ) 0 % for 12 months to maintain good credit then you will have problems... Probably be considered during the lending process s OK if you have to... Of the most important factors in your credit score startup, just choose the lowest option available your. Can just provide your business, airline cards, your business as a legal partnership or sole can! Tell the truth try a secured business credit card is a senior staff writer Fundera... Pros and Cons of business Inventory loans, business loan qualifications: how to qualify for corporate credit card.! Establishing your business has been updated for accuracy and comprehensiveness in may 2019 feature you pay... You received a business credit card, which requires cash collateral … a! Our BB & t Bright for business credit cards, so make sure that they’ll get money...