CreditDonkey is a credit card comparison and reviews website. This website is made possible through financial relationships with card issuers and some of the products and services mentioned on this site. Advertiser Disclosure†




Updated May 10, 2019

How to Get a Business Credit Card

Read more about Business
Editorial Note: This content is not provided by the card issuer. Opinions expressed here are author's alone, not those of the issuer, and have not been reviewed, approved or otherwise endorsed by the issuer.
This article contains references to products from our partners. We receive compensation if you apply or shop through links in our content. You help support CreditDonkey by reading our website and using our links. (read more)

Applying for a business credit card is easier than it sounds. Here is how to apply for one, whether you have a corporation or a tiny home business.

© CreditDonkey

Earn 80,000 Bonus Points

A business credit card is a great way to get extra rewards and perks.

But not all cards are created equal. Our favorite is the Chase Ink Business Preferred because of its sign-up bonus.

Read on for everything to know about how to apply for a business credit card.

Here are 5 steps to qualify for a business credit card:

  1. Have a small business with an intent to make a profit.
  2. Know your credit score so you know which cards you qualify for.
  3. Compare business credit card offers to find the best one for you.
  4. Fill out application with your business name and EIN (or your name and SSN).
  5. Wait for approval. Or call for reconsideration if rejected.

Who Can Apply?

Business cards aren't just for corporations. You can apply for a business card even if you're running a one-man show and have no office.

You may be surprised by what could be considered a business. Here are just some examples:

  • If you're a freelance web designer
  • If you have an Etsy shop
  • If you sell books on Ebay
  • If you drive Uber in your spare time
  • If you tutor students
  • If you sell cookies at the farmer's market

Basically, if you do anything for profit, it can be considered a small business.

In fact, you don't even have to be already making income to apply for a business credit card. You just need to have a reasonable intention to make money and have business expenses (such as buying materials for your Etsy shop).

Benefits of having a business credit card:

  • Keep your business expenses separated. This will make it so much easier come tax time.

  • Earn rewards in business categories. Besides the tempting bonuses, business credit cards generally give bonus cash back or points in popular business categories (such as office supply stores, advertising online, telecommunication services, etc.)

    If a huge sign-up bonus and travel rewards are appealing to you, check out the Chase Ink Business Preferred.

    Chase Ink Business Preferred

    Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®

  • More purchasing power. Having a separate business credit card will mean that you have more credit for business expenses. Also, business credit cards tend to give higher credit lines than personal cards.

What You Need to Apply

Here comes the fun part: Applying for a business credit card when you're just starting out can make you feel more official. It's a little different than applying for a personal credit card.

Here's a rundown of how to fill out the application:

  1. The business' legal name
    This is the name you use to do business. It's what will show up on your card if you're approved.

    If you have a corporation or an LLC, enter the business name that you registered with your state government.

    If you're a freelancer or sole proprietor, just use your legal name on this line.

    Tip: Small business can also file a "Doing Business As" or DBA. This allows you to operate under another business name (instead of your own name). If you have done this, apply with your DBA name.

  2. Your tax identification number
    You'll need a tax identification number to process your application.

    Incorporated businesses and partnerships enter their federal Employer Identification Number. This is a nine-digit number issued by the IRS for tax reporting purposes.

    If you're a freelancer, you'd enter your Social Security number on this line (unless you have an IRS-issued Employer Identification Number).

  3. The business type / business structure
    This is the kind of business you're operating. If you're an LLC, you'd choose partnership or corporation, based on how it's set up. If you are a freelancer, you would usually put down sole proprietorship.

    Beneficial owners: Effective May 11, 2018, new regulations require that important personal information is also provided for beneficial owners. This is anyone who directly or indirectly owns 25 percent or more of the business. This includes names, birth dates, social security numbers, home addresses and percent of ownership. Their credit information is not pulled, but records are kept for informational purposes.

  4. The industry type / nature of the business
    Credit card companies also want to know what kind of business you're running. You'll have a list of industries to choose from. Just select the one that fits best, even if it isn't quite the exact label.

    Related: Successful People Do These 23 Things Daily

  5. Your role in the business
    Spell out what you do. For example, you can say you're the owner, president, or general manager.

    Related: CEO Statistics

  6. Business address and phone number
    You'll need to fill in the contact information for your business. If you run your business from home, just use your home address here.

  7. How long you've been in business
    Enter the number of years you've been in business. If you're still in the early startup phase, just enter "0" in this box.

    Related: Startup Failure Rate Statistics

  8. The number of employees
    Enter the number of employees you have, if any. If it's just you, enter "1" for yourself.

  9. Annual business revenue
    You have to let the credit card company in on how much revenue your business is bringing in each year. If your business is new and you haven't made a buck yet, it's fine to put "0."

    Related: How to Make Customers Happy

  10. Estimated monthly spend
    This just means your most accurate guess of what you think you'll charge to the card each month. Not all business card applications ask for this, but you should be ready with an answer if it comes up. Make sure this is what you will charge for business expenses, not personal.

    Aside from your business information, you'll need to connect the dots on your own personal details. That means filling in:

    • Your name
    • Address, phone number and email
    • Social Security number
    • Birth date
    • Mother's maiden name
    • Household income

Getting Approved for a Business Credit Card

© CreditDonkey

For new businesses and first-time applicants, here are some things to know about getting approved.

  • It is dependent on your personal credit. Since you don't have any business history yet, the banks will look at your personal credit history and score. The better your personal credit score is, the easier it is to qualify.

    That won't come into play as much for an established business, since you would have a separate business credit history built up.

    Getting a business card with bad credit:
    Owners with low (or no) credit can still get a business credit card but options are limited. Companies like Capital One offer cards to people with lower credit scores. They will check your personal credit score, however. You might also consider a secured credit card. These cards have lower credit requirements but require a deposit in case you default on payments. A prepaid card is a viable option and doesn't require a credit score check, but it does not help you build credit.

  • You probably need to sign a personal guarantee. This is a clause that states that you, personally, will repay any business debt. Banks often need this insurance that someone will be responsible. If you stop making payments on the card because the business fails, the bank can come after you personally to recover the balance owed.

  • Do not lie on the application. Even if you need to put "0" as the revenue, it's better to do that than lie. You may get a phone call asking for more information. Be prepared for questions about the nature of your business and how much you expect to make.

    Just tell the truth that you're in the startup phase. Explain why you want the business card now. For example, maybe the reward structure will really help you, and that you want to keep expenses separate.

  • A relationship with the bank helps. If you're already a customer with the bank and your accounts are in good standing, it may make it easier to apply for a business card with the same bank.

    How do you obtain business credit?
    Here are simple steps to build business credit history:

    1. Form an LLC or incorporate to help separate your personal credit from that of your company.
    2. Apply for an EIN number. (This number will represent your business in tax filings and legal documents).
    3. Start a business bank account. Make sure to keep your personal financial business separate from this account.
    4. Apply for a business credit card. This will help you grow a line of credit for your new company.
    5. Pay all bills and invoices on time to build your credit history and reputation with vendors.

Our pick for small businesses

Ink Business Preferred Credit Card
Apply for Ink Business Preferred Credit Card
At Chase's Secure Site
  • Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®
  • Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
  • Earn 1 point per $1 on all other purchases–with no limit to the amount you can earn
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
  • Redeem points for travel, cash back, gift cards and more – your points don't expire as long as your account is open
  • No foreign transaction fees
  • Employee cards at no additional cost
  • $95 Annual Fee
Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
N/AN/A
17.49% - 22.49% Variable
$95

How to Compare Cards

© CreditDonkey

Every business credit card is different and there are some better suited for certain types of entrepreneurs than others. When you're shopping around for a card, keep your eyes on these four things:

  1. APR: The APR, or annual percentage rate, determines the amount of interest you'll pay over the course of a year if you carry a balance. Many business cards offer a 0% introductory rate on purchases and/or balance transfers for new cardmembers, which can give your new business some breathing room.

    Pro Tip: Blue Business Cash from American Express, a CreditDonkey partner, is offering an introductory APR.

    0% intro APR on purchases and balance transfers for 12 months, then a 14.74% - 20.74% Variable APR

    Business Credit Card Special Offer (See Rates & Fees)

  2. Fees: Scoring a card with a low APR isn't such a sweet deal if it comes with lots of fees. If your goal is earning rewards, for example, make sure they're not being wiped out by a high annual fee. If you travel, steer clear of cards that charge a foreign transaction fee. This fee can add up to 3% to the cost of purchases made abroad.

    American Express Blue Business Cash

    No Annual Fee (See Rates & Fees)

    Ink Business Preferred

    No Foreign Transaction Fees

  3. Rewards: Earning big rewards is one of the best reasons to get a business credit card. Choose a card with a rewards structure that aligns to your business expenses. Think about whether you want points, miles or cash back; and whether you want bonus categories or a flat rate per dollar. Also consider your redemption options. If you're after a big bonus, make sure you can meet the minimum spending requirement.

    What is the best small business credit card? Ink Business Preferred lets you earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. 80,000 points is worth $1,000 toward travel when you redeem via Chase Ultimate Rewards. Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases - with no limit to the amount you can earn. There are no foreign transaction fees. There is a $95 annual fee.

  4. Card type: Business credit cards will allow you to carry a balance, but charge cards require you to pay in full each month. Charge cards don't charge interest but there's no flexibility if you need to pay just the minimum one month. If you don't have a steady cash flow, you need to have a revolving credit card account instead.

Frequently Asked Questions

  • Can I apply for business credit card even if I'm not yet earning income?
    Yes. You can apply as long as you have a reasonable intention to make a profit.

  • I really like the rewards on a certain business card. Can I use it for personal expenses too?
    We advise that you don't mix personal and business expenses. It'll cause more headache when you need to separate out your business expenses when filing taxes.

    And if you fall behind on your payments, the card issuer may look at your activities more closely. If they see that there are personal expenses on there, you may lose your rewards and your account could be closed or changed to a personal card.

    Note: If you operate as an LLC, corporation, or partnership, then it's even more important to keep your business separate from your personal life. At the point, there are legal considerations too. If you mix personal and business spending on a credit card, then the business and the person can be seen as the same. That may expose you to additional liabilities.

  • Do I have to also have a business checking account in order to have a business credit card?
    If you're a independent freelancer or have other small jobs (in other words, if you're a sole proprietor), then no, you do not usually need to have a business checking account.

    If you have formed a LLC, partnership, or DBA (Doing Business As), then you do need a separate business banking account. These kinds of business require that you separate business and personal finances.

  • Will a business credit card affect my personal credit?
    Generally, business credit cards don't report to personal credit bureaus. So your personal credit won't be impacted if you have high business expenses. However, if you keep on making late payments or missing them, then your personal credit may take a ding.

Bottom Line

In short, you can apply for a business card as long as you are earning profit (or intend to). There are plenty of incentives for choosing a business credit card over a personal credit card. You can keep your personal and business expenses separate, and you may be able to get higher rewards for your business-related charges. However, once you get it, use the card responsibly and abide by the cardholder agreement.

Rebecca Lake is a journalist at CreditDonkey, a credit card comparison and reviews website. Write to Rebecca Lake at rebecca@creditdonkey.com

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. This site may be compensated through the Advertiser's affiliate programs.

For rates and fees of the Blue Business Cash card, please click here.

More from CreditDonkey:

Lemonade Stand

Signs You Might Be an Entrepreneur


How to Build Business Credit

Infographic: How to Make Customers Happy

How to Make Customers Happy

More Articles in Tips

American Express Blue Business Cash Card
Apply for American Express Blue Business Cash Card
At American Express' Secure Site
  • Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
  • From workflow to inventory to floor plans, your business is constantly changing. That's why you've got the power to spend beyond your credit limit with Expanded Buying Power§.
  • Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
  • 0.0% intro APR on purchases and balance transfers for 12 months, then a variable rate, 14.74%, 17.74%, or 20.74%, based on your creditworthiness and other factors as determined at the time of account opening.
  • No Annual Fee
  • Terms Apply
  • See Rates & Fees
  • Go to issuer's official application, terms, and details
Cash Back Rewards$0 Fraud Liability
Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
0% on purchases for 12 months
0% on balance transfers for 12 months
14.74% - 20.74% Variable
No annual fee

How to Choose a Small Business Credit Card

For small business owners, credit is vital. But with so many credit cards available designed for businesses, how can you decide which one is right for you and your company? These two factors can help narrow down your selection ...

Blue Business Cash Review

American Express® Blue Business Cash Card offers 2% cash back on up to $50,000 in purchases per calendar year (then 1%). But is it good for your business? Read on.

    Business

    For small business owners, credit is vital. But with so many credit cards available designed for businesses, how can you decide which one is right for you and your company? These two factors can help narrow down your selection ...

    Credit Card Deals

    Applying for a card with a bonus or an introductory offer can be a great way to get a head start on earning rewards or to get a handle on your debt.
    Credit Card Promotions

    American Express Credit Card Offers

    American Express now offers promotions for new credit card applicants. But how do you pick which deal is right for you? Read this in-depth guide.

    Business Credit Cards vs Charge Cards: Which is Right for Your Business?

    Is your business better off with a charge card or a credit card? Does it matter? Yes. Read this article to learn the important differences.

    Business Credit Cards with No Annual Fee

    If you're looking to get a credit card for your business, you've got a lot of options. In this article, we'll look at why a business credit card with no annual fee might (or might not) be for you.

    American Express Business Card Offers

    American Express has many promotions for small business applicants. But which business card is best? Read this in-depth review and comparison of Amex business cards.
More Articles in Tips







About CreditDonkey®
CreditDonkey is a credit card comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the card offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.