The best business credit card for advertising is the Ink Business Preferred® Credit Card because it offers 3 points / $1 for the first $150,000 spent each year in several categories combined, including advertising on social media and search engines. The card also gives 1 point / $1 spent on all other purchases.
Several other business credit cards offer elevated rewards rates specifically for advertising, too. But you can also profit from advertising expenses with a credit card that offers excellent rewards in general.
To get a business credit card for your LLC, compare offers for cards to determine which business credit card is likely to save your LLC the most money, based on rewards, fees, interest rates and other features. Then, apply for the card online, wait for a decision and, if you’re approved, wait for your card in the mail.… read full answer
You can get a business credit card for an LLC, as long as you are permitted by the corporation. If you aren’t an owner of the LLC, you must at least be an authorized officer – in other words, legally able to sign for the company – in order to apply for a credit card in the LLC’s name. Authorized officers will be named on the LLC’s operating agreement, and can be the LLC’s owner, president, managing member, member, or treasurer, for instance.
When it comes to which business credit cards you might qualify for, a lot depends on your personal credit score. Most small business credit card issuers will judge your application based on your personal creditworthiness because they require a personal guarantee for any balance on the account.
How to Get a Business Credit Card for Your LLC in 4 Steps
Determine which card would be best for you. The ideal business credit card will give you the best value in rewards and benefits, based on your business spending and your overall needs. Narrow down the choices based on rewards rates in your biggest spending categories and other card benefits, and then compare expected earnings after taking any fees into account.
Fill out the application. You’ll need to provide details about the LLC on the application, such as its name, address, phone number, annual income, number of employees, years in business, and Employer Identification Number (EIN). You’ll also need to provide some information about yourself, such as your Social Security number and personal income, among other things.
Wait for a response. You could get a decision instantly, or the card issuer may need a closer look at your application. Most credit card issuers make a decision on applications within 2 weeks, and if you’re approved, your new card should get to you in 7-10 business days after approval. If you get denied for the card, consider calling the card issuer’s reconsideration line or looking into other credit card options.
Business credit cards can be assets for LLC owners, as they tend to offer more business-focused benefits and rewards, with the potential for higher credit limits than personal cards. That said, many LLC owners use a personal credit card for business purposes – and that’s perfectly fine, if you aren’t interested in building business credit and you keep your business and personal expenses separate.
A good first business credit card is the Ink Business Preferred® Credit Card. This card offers 100,000 points for spending $15,000 in the first 3 months. Plus, you can earn 1 - 3 points per $1 spent on purchases. The card comes with a $95 annual fee and it requires at least good credit for approval.
A first business credit card is beneficial because it allows you to separate your personal and business expenses.
Business cards usually come with a higher credit limit than personal credit cards.
In most cases, activity on your business card won’t affect your personal credit report. However, you’re still personally liable for any debt incurred on a business credit card.
Business cards generally come with better rewards. You can make the same purchases you normally would for your business and earn more points.
Businesses can also distribute credit cards to employees as expense accounts. All eligible spending on an employee’s business card earns rewards toward your account.
Many good first business cards require good or excellent credit to qualify. Your personal credit profile will be a major factor in determining if you’re ultimately approved for a business credit card.
One glaring difference between business cards and personal credit cards is that business cards are excluded from protections under the Credit CARD Act. Most notably, an issuer can arbitrarily raise the interest rate on a business card balance. For personal credit cards, payment has to be at least 60 days before a higher interest rate kicks in. Fortunately, many of the major issuers have implemented some of the CARD ACT’s key policies for their business cards.
In general, the easiest credit cards for a business to get require … read full answerbad-to-fair credit for approval. It’s also worth noting that while you must have a business to get most of these cards, your personal credit history matters a lot more than your company’s credit standing.
As you can see, there are a few easy approval business credit cards available, so you shouldn’t let limited or damaged credit prevent you from getting the card your business needs. Also, remember that if you pay your bills on time and keep your credit utilization ratio low, your credit should steadily improve over time.
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