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Qualifying For A Small Business Credit Card


As a business owner, there is no doubt that you’ll need to learn how to manage your money wisely. However, there will be times when you need to purchase something with credit. Having a credit card for your small business is very smart. However, you’ll first need to qualify and that is a little trickier than you might imagine. Do you actually have a small business? What is the process of qualifying and acquiring a small business credit card? You’ll find the answers below.


First and foremost, you must make sure that you do have a small business. In order to do that, you have to earn money. If you get a 1099 form for your work, there is a pretty good chance that you are a small business. You must run a for profit business. Even if you haven’t actually realized a profit, you still may be eligible. It is really pretty easy to meet the requirements. Once you’ve confirmed that you’re eligible, you should compare credit companies and choose the best one for you.

Always Tell The Truth

To get a credit card for your business, you’re going to need to fill out an application. When doing so, you should always do your best to tell the truth. Never lie on this application, because it could get you into hot water. In all likelihood, the bank will look at your personal credit to determine whether or not you’re going to be approved. On the application, you should include your business and personal income. After all, the bank will consider your financial stability when making their decision.

Varies From Company To Company

It is also important to understand that the application process will really vary from one company to the next. Chase is slightly unique, because the company likes having a relationship with their customers. If you already have a personal bank account with Chase, they’ll be much more likely to approve your application. Chase tends to be pretty open about accepting smaller businesses with limited revenue. AMEX is another company to consider. They’ll always inspect your credit history and not your business income. Therefore, you should be able to get a card with AMEX even if your business isn’t turning a profit.


Citi is very friendly to small businesses. This bank will consider your personal income and credit when considering whether or not you’re eligible for a business credit card. Having a banking relationship with Citi helps, but it is not a requirement. The amount of credit you’ll be provided with will depend on your personal credit and your business’s income. Getting a business credit card is similar to getting a loan.


The size of your business can make a difference. To avoid employee disputes, you should consider drafting an employment agreement.

No EIN Required

Your business will be considered a sole proprietorship. You might believe that you’ll need an EIN or Employer Identification Number, but you do not. Instead, you will be able to apply using your personal Social Security Number. You won’t need to jump through too many hoops. Just remember to always be truthful on your application!


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