A business credit card with no personal credit check is hard to come by. Secured business credit cards are much easier to get than regular unsecured business credit cards, but there’s still a personal credit check involved, and you’ll have to pay a security deposit. A personal credit check allows lenders to measure a business owner’s ability to pay back any debts when there’s little or no business credit history to review.
In addition to the personal credit check, lenders require business owners to provide a personal guarantee. This states that the business owner is personally responsible for paying off any balance if the business is unable to do so. Very few business cards don’t require a personal guarantee.
If you don’t have good credit, there are personal credit cards that do not require a credit check at all. You can use them for business purposes, but they usually require a security deposit and don’t let you borrow money.
If you decide that you’re comfortable applying for a business credit card despite the personal credit check, check out our editors' top picks for the best business credit cards for each credit level. You might also be interested in WalletHub's credit building guide. This will help you on your road to excellent credit.
There are several easy approval business credit cards. That’s because the easiest business credit cards to get only require fair or bad credit. They include Capital One Spark Classic for Business, the Staples Business Credit Card, and the Wells Fargo Business Secured Credit Card. It’s also worth noting that while you must have a business to get one of these cards, your personal credit history matters a lot more than your company’s.… read full answer
Here are your options for easy approval business credit cards:
You’ll get 1% cash back on all purchases. There’s no annual fee, and the purchase APR is 24.24%.
• Fair Credit: Staples Business Credit Card
You’ll save $50 on a purchase of $150 or more made within 45 days of opening your account. You’ll also get 5% back in Staples credit for each purchase. There’s no annual fee. Your APR will be somewhere between 14.99% and 23.99%, depending on credit worthiness.
• Bad Credit: Wells Fargo Business Secured Credit Card
You’ll get 1.5% cash back on purchases. The annual fee is $25. The minimum security deposit is $500. And the APR is 16.40%. The BBVA Compass Business Secured Card is another good option.
You’ll get 2% cash back on the first $1,000 you spend at gas stations and restaurants each quarter. You’ll get 1% cash back on all other purchases. Discover matches the cash back you earn the first year. There’s no annual fee, the APR is 24.24%, and the minimum deposit is $200.
There are a few easy approval business credit cards, so you shouldn’t let limited or damaged credit prevent you from getting the card your business needs. And remember, if you pay your bills on time and keep your credit utilization ratio low, your credit should steadily improve over time.
Yes, you can apply for a business credit card with an EIN only, but it’s very rare. Two of the only business credit cards you can get with just an EIN, and no SSN required, are the Office Depot Business Credit Card and the Shell Small Business Credit Card. Most business credit cards require an EIN, or Employer Identification Number, which the IRS assigns every U.S.-based company that applies for one. But most business cards also require a Social Security number or an Individual Taxpayer Identification Number.… read full answer
The EIN shows that you’re legitimately a business owner. The SSN, or ITIN, allows the credit card company to review your personal credit history when evaluating your application and hold you personally accountable for paying the bill if you’re approved. Almost all business credit cards require personal liability. But there are a few exceptions.
Business credit cards you can apply for with EIN only:
Office Depot Business Credit Card: You can apply with without an SSN if your company makes over $5 million per year and has been in business for at least three years. Or, if you are a government entity (including schools) or a nonprofit, you can apply without personal liability also. This card only works for OfficeMax and Office Depot purchases. This card requires fair business or personal credit.
Sam's Club® Business Credit Card: You can apply without an SSN if your company makes $5+ million per year, is more than 2 years old and has more than 10 employees. You can only get this card if you’re a Sam’s Club member, and you need good business or personal credit to be approved. You can use the card anywhere that accepts Mastercard.
SuperAmerica Fleet Credit Cards: You can apply for these cards without an SSN if you’ve been in business for at least three years. You can use it at all SuperAmerica gas stations and 45,000 partner stations nationwide. Both cards require good business or personal credit.
Shell Small Business Credit Card: You can get this card without any personal liability if you’re applying on behalf of a government entity or non-profit, or if your business has been open for at least three years and does $1+ million in yearly sales. This card requires fair business or personal credit, and you can use it at any of the 12,000 Shell gas stations nationwide.
If you want to apply for a business card with only an EIN, the choices are slim. But your options become far greater when you consider the full range of cards that require personal liability.
If you’re worried that your personal credit isn’t good enough to qualify for a business credit card, remember that you can apply for a secured business card, or even consider applying for a secured personal card and use it for business expenses. So, consider personal options such as the Discover it® Secured Credit Card as well as the likes of the Wells Fargo Business Secured Credit Card. Both are available to people with bad credit.
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