How to Open a Business Credit Card
How to Open a Business Credit Card
It's much easier to apply for and get approved for a business card than you might think.
You don't need an LLC, a big revenue stream, or years of "official" operations to qualify. You just need a small side business — and chances are, you probably already have one.
Business cards are a huge part of my points and miles strategy. They help me earn bigger sign-up bonuses, they typically don't count against my Chase 5/24 count, and they usually don't show up on my personal credit report. I actually open more business cards than personal cards each year.
Let me show you how easy it is to open your first business card, so you can start using this strategy too.
Start With Your Side Business
Your side business can be any source of income outside your regular paycheck. Selling your kid's old clothes on Poshmark. That dresser you just listed on Facebook Marketplace. The tutoring session you did yesterday. The team you coach on weekends.
Chances are, you're already earning a little extra income somewhere. That counts as a side hustle — and it's enough to qualify for a business credit card.
The Basics of an Application
First and most importantly: be truthful and accurate. You may be asked to provide documentation to back up what you put on the application.
Once you start the application, keep a few things in mind:
You are the owner. Fill out the application as yourself.
Business structure: Select Sole Proprietor/Proprietorship. Most readers of this blog will fall into this category. If your business is an LLC or nonprofit, select that option instead.
Tax ID: You can use your Social Security number here — you don't need an EIN to apply. That said, an EIN is free and quick to get if you'd rather use one.
Time to Apply: The Application, Step by Step
Here are the fields you'll most likely see on a business credit card application, along with what to put in each one:
Legal business name The name of your registered business. If you're not officially registered, use your first and last name.
Business name on card This is what shows up on the front of your card. Whatever you entered above works fine here.
Doing Business As (DBA): Yes/No If you have a DBA, select "yes" and enter it. If not, select "no." If the field won't let you select "no," just use your own name.
Business mailing address If you run your business out of your home, use your home address.
Type of business / industry code Choose whichever option most closely matches what you do.
Number of employees The application will usually ask separately whether you're an employee of your own business versus whether you have others working for you.
Annual revenue The total amount your business brings in. If it's new, use your projected revenue.
Key Takeaways
Qualifying for a business card is much simpler than most people assume — and you likely already have a "business" that counts. Once you get your first one approved, it can become a real part of your points and miles strategy going forward.
