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Business credit cards have some major advantages, and a lot more people may be eligible to get them than you might think! Let’s cover some Q&As…
Q: Can you get a business credit card if you don’t have a Corporation, LLC, etc.? A: Yes! You can apply as an individual (“sole proprietor”).
Q: Can you get a business credit card if you don’t have an EIN? A: Yes! You can use your SSN instead.
Q: Can you get a business credit card without owning a business? A: Yes! If you earn money independently from your day job, you may qualify.
Q: Can you get a business credit card if you haven’t made any money yet? A: It’s possible! Some banks may give an approval even if you’re pre-revenue.
There are also some huge advantages to getting business credit cards. Some of them include:
1. Obtain more welcome offers. Getting credit card signup bonuses are a fast way to get a lot of points, miles, or cash back quickly, and business credit cards often have their own offers (many of which are higher than personal credit cards).
2. Build strong credit card strategies. Some business credit cards earn rewards in categories not covered by most personal credit cards (examples: utilities, advertising, office supply stores, and more). Even better, some of the Chase Ink business credit cards and Amex business credit cards earn the same type of rewards as some of the personal credit cards, so you can combine your points! Examples of these combinable points include Chase Ultimate Rewards, Amex Membership Rewards, and Capital One Venture miles.
3. Separate business from personal expenses
4. Obtain “invisible credit” (i.e., most business credit cards do not appear on your personal credit report). So, they won’t affect your credit score in terms of utilization or the age of the account. They also won’t affect the Chase 5/24 Rule.
Just be aware that most small business credit cards still pull your personal credit.
Disclosure: The thoughts, opinions, and information presented are those of the creator. This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com, YourBestCreditCards.com, Biltrewards.com and others. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Reese is not a financial advisor.
