Wondering how to apply for a business credit card? Let’s look at the details of how to apply for a business credit card.
So you have started your business (or are considering it), and you need to get a business credit card in order to keep your business and personal expenses separate. I remember when I was in the same situation just a few years ago! For tax and bookkeeping purposes, you really need to keep personal and business transactions separate. On the other hand, many businesses find the need to use credit cards for many purchases such as gas, domain names and website expenses, and more. Solution: Business credit cards.
How to Apply for a Business Credit Card
When I first applied for a business credit card, I had just started my online business, and learned how to make a website. I desperately needed one so I could keep personal and business purchases separate. But I had just started my business, had no credibility, and was a little unsure of how it worked. To my amazement, it was actually quite easy!
I expected that I would need to fill out complicated forms, have an audit, and potentially do some other complicated things to prove my business was worthy of my card. In fact, it was just as easy as applying for a personal card!
Of course, the business credit card application did ask for a few more things than a regular credit card application (such as my business name, address, phone, income, and so forth) but it was virtually the same. I just entered all of my information, and I was approved. Why?
In many cases, they really look at your individual credit history/score, and then base that on whether or not you will be approved for your business card. They look at the income levels to see how much of a credit limit you will receive as well.
So in no time, I had my very first brand new Business Credit Card. It had my business name on it, and also had my personal name below. That was great because I could use my personal name anytime I wanted, or my business name. It works just like a regular credit card, and I earn points and everything!
Which Business Card is Best to Use or Apply to Get?
Any business credit card will be fine, but I highly recommend a Visa or Mastercard type. Any brand (Chase, Bank of America, etc.) will work fine. My first card was a Chase Business Card. It was later re-branded to a “Chase Ink Card.” It was a Visa type.
I like it a lot because I earn points, and I am able to purchase things like inventory, domains, supplies, etc. It keeps it segregated from my personal credit cards, which is perfect for tax and accounting purposes.
Just check any of the major companies like Chase, Bank of America, Citi, etc., and look for the business credit card application. Also, try to go for one with high points/rewards, and also a nice 0% introductory rate if you can =).