Can you get a business credit card as a sole proprietor?

The best business credit card for startups is the Ink Business Preferred® Credit Card because it offers 100,000 bonus points for spending $15,000 in the first 3 months. There’s also 3 points / $1 spent on travel and common business expenses. And the card has a fairly cheap $95 annual fee.

To be clear, the best business credit cards for startups are the same as the best business credit cards for any company. Approval for a business credit card does not depend on how long the company has been around. Rather, it rests on the owner’s personal credit history. ... read full answer

6 Best Business Credit Cards for Startups

Choosing the best business credit card for a startup usually comes down to finding the card that rewards the business’s biggest spending categories the most. It’s especially important to focus on purchases that will be paid off within a single billing period, as business credit cards are bad for carrying a balance from month to month, since the interest rate can change at any time. Still, there are a lot of other great incentives to get a business credit card for a startup, so shop around to see which card fits the needs of the business best.

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

1. Check your credit score. Your personal credit score plays a big role in which business credit card you can get, but you don’t need good credit to get a business credit card. You can check your latest credit score for free on WalletHub.
2. 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.
3. 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.
4. 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.

Yes, you can apply for some business credit cards with an EIN only, but most credit cards will not allow it. Most business credit cards require a Social Security number or Individual Taxpayer Identification Number in addition to an Employer Identification Number (EIN).

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.... read full answer

Business Credit Cards You Can Apply for With an 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.