How to Get a Business Credit Card

1. Gather your EIN and business information
2. Choose the best business card for you
3. See if you prequalify
4. Fill out an application

1. Gather your EIN and business information

Here’s some information you may need to have handy when applying for a business card:

• Your business structure. For example, Capital One allows you to select from the following options on its business card applications: sole proprietorship, corporation, partnership, nonprofit corporation, single-member limited liability company (LLC), multiple-member LLC or other.
• Your Employer Identification Number (EIN). Depending on the issuer and how your business is structured, you may or may not need to include your EIN on the application. For example, American Express requires this only if your business is a corporation or a partnership, while Capital One requires it for all structures other than a sole proprietorship.
• Your total annual business revenue. Don’t feel the need to inflate your revenue if your business is new. You can still get a business credit card if your business income is zero.
• Your business’s full legal name. Your business’s legal name should be what’s listed on your EIN.
• Your business’s DBA. A DBA is a “Doing Business As” name. American Express, for example, requires you to provide your business’s DBA, or mark that it doesn’t have one.
• Your estimated monthly spending.
• The type of industry.
• The business address and contact info.
• The length of time in business.
• Number of employees.
• Your position in the business.
• Your personal information, such as Social Security number, birthdate, etc.

Though you might be able to apply without an EIN, having one can be helpful for your application. Nancy Parnella, director of the Barclays U.S. business credit card program, explains that having an EIN can allow for quicker approval of your application.

“Most business owners should have an EIN as it allows them to keep their personal and business finances separate,” Parnella says. “This is also advantageous when applying for a business credit card as it aids in verifying the business, which can expedite approval.”

2. Choose the best business credit card for you

Here are a few questions to ask to help you evaluate the best type of card that will benefit your business most:

• Do you need employee cards? If so, you’ll benefit from considering a card that offers free employee cards, rather than charging an additional fee for each one. Plus, many business credit cards will allow you to track employee spending and set customizable limits, which is a good way to ensure any cards you issue aren’t used improperly.
• What type of purchases make up the bulk of your business spending? Some business cards offer higher reward rates in specific spending categories, such as office supply stores, for example. Other cards offer a flat rewards rate on every purchase, regardless of category.
• Does your business require frequent travel? You may want to consider applying for a business travel card or business gas card that can offset some of those expenses.
• Do you need to finance a big purchase? A business card with an introductory 0% APR can be a money-saver for large expenses. Or, if you want to earn extra cash back or rewards on a big purchase, this could be a good time to consider a business card with a generous sign-up bonus.
• How much do you think you’ll spend on a card each year? Determining your business’s annual spending will help you evaluate whether a card with an annual fee is worth it or not. For example, if you’re using a card that offers 2% cash back and charges a $150 annual fee, you’ll need to spend $7,500 per year to recoup the annual fee.

3. See if you prequalify for any business credit cards

Most major issuers will let you check if you prequalify for their business credit cards. You can visit the issuer’s site to find out how to get prequalified for your chosen credit card.

Getting prequalified for a credit card doesn’t guarantee approval, however. It helps you see your chances of getting approved for a credit card while avoiding a hard credit inquiry. If you don’t get prequalified, improving your credit score or applying for a business card for bad credit may be the next best option.

4. Fill out an application on the issuer's site

The final step to getting a business credit card is filling out an application for that card. The easiest way to apply for a business credit card is online, where you’ll submit your financial information and likely receive an instant decision.

Depending on which card and issuer you apply for, you may not receive your card for up to 10 days. If you’re planning to use the card to pay off a big purchase, plan ahead and apply for your card before you need it.

Applying for a new credit card may cause a temporary drop in your credit score. If your business needs something else that requires a credit check, like a business loan or new office space, consider applying for it first.

“Business” doesn’t have to mean a multimillion-dollar enterprise. Whether you operate an existing business with established revenue or you’re just starting a new business and have a reasonable expectation of revenue, you can apply for a business credit card. Eligible businesses could include selling handcrafts on Etsy, writing freelance articles for a website or doing yard work for neighbors.

If you’re a sole proprietor, you can apply for a business credit card using your Social Security number. Just note that you do need a business of some sort; issuers don’t want you to apply for a business card if you have no actual business.

Typically, a small business card requires a personal guarantee (meaning you’re personally responsible for what’s charged to the card) and a personal credit check. You could be turned down for the business card due to a poor personal credit score.

For that reason, it’s wise to check your personal credit score before applying for a business card. You’re also entitled by law to one free copy of your credit report from each of the three consumer credit bureaus (Equifax, Experian and TransUnion) weekly via annualcreditreport.comannualcreditreport.com. You can check for and dispute any legitimate errors that may be dragging your score down.

Check your credit score for free with LendingTree

If you’re turned down after applying for a mainstream business credit card, getting a secured business card might provide an opportunity to build up good business credit history. Know that you’ll have to pay a security deposit, and you may have to pay an annual fee as well.

Generally, a business credit card won’t appear on your personal credit report. Discover is one exception, as it reports business card activity to the consumer credit bureaus.

However, if you are significantly late paying your business card bill — from any issuer — it’s likely to be reported to your personal credit report and can damage your personal credit score.

That’s because as was mentioned earlier, most small business credit cards require a personal guarantee, meaning you are the one ultimately responsible for making sure the card is paid up.

Based on our research of business cards available through LendingTree, as well as from top issuers, we’ve selected some of the best options for a variety of needs.

If your personal or business credit score is less than stellar, you might have trouble qualifying for some higher-end business credit cards. However, there are a few business credit cards for bad credit. Most are secured credit cards that require you to submit $500 to $25,000 to the issuer as a security deposit.

Below is one of the best secured business cards for people with lower credit scores: