How do you obtain business credit?
- Form an LLC or incorporate to help separate your personal credit from that of your company.
- Apply for an EIN number.
- Start a business bank account.
- Apply for a business credit card.
- Pay all bills and invoices on time to build your credit history and reputation with vendors.
Can I get a business credit card for personal use?
Using a business card for personal purchases can also hurt your personal credit score if you run up the balance so high that you cannot pay the card off. Many issuers require a personal guarantee before approving an applicant for a business credit card, which means the cardholder is personally liable for the debt.
Do you need to have a business to get a business credit card?
Well, yes, you do need a business to open a business credit card. In fact, when applying for a business credit card, there will be a section asking what kind of business you own, and also requesting your business tax identification number.
What is the easiest business credit card to get?
Here are your options for easy approval business credit cards:
- Limited Credit: Capital One Spark Classic for Business. You’ll get 1% cash back on all purchases.
- Fair Credit: Staples Business Credit Card.
- Bad Credit: Wells Fargo Business Secured Credit Card.
- Personal Option: Discover it Secured Credit Card.
How long does it take to get a business credit card?
It takes 7-10 business days to get a new credit card after being approved for an account, in most cases. That means it usually takes 14-24 business days to get a credit card after submitting an application, though the timeframe will be a lot shorter if you’re approved instantly.