Who Can Apply for Business Credit Cards?

Written by admin - 4 Comments

A common misconception out there is that business credit cards can only be held by “real” businesses. Guess what? That’s not the case at all.

Who can apply for business credit cards?

As it turns out, anyone can apply (and be approved) for one. You don’t have to have own an “official” business at all. When filling out the application, simply enter your own name for the business (or dream one up if you wish) and use your social security number as the tax ID number (if they ask for one).

Is this legit?

The short answer is “yes.” This is totally legit because any individual can operate as a sole proprietor. There’s no need to file any paperwork, pay any registration fees, etc. You’re a sole proprietor if you say you are.

Want more justification? Maybe you occasionally sell things on eBay. Or maybe you specialize in family accounting (your family’s accounting – you balance the checkbook, right?). Or lawncare — you mow the lawn, right? If so, then you can choose to view yourself a business.

Unless you go to the trouble of registering a business name (and there’s really no need), the name of your business is the same as your legal name. Similarly, if you don’t register for a tax ID number, then your TIN is the same as your SSN. In this case, there is no real distinction between you and your sole proprietorship.

Why would I want a business credit card?

The main reason that an individual might want to apply for a business credit card is to take advantage of special introductory offers. For example, many business credit cards come with a 0% balance transfer offer. Likewise, a number of the most generous credit card signup bonuses are associated with business credit cards.

See also: Best Business Credit Cards

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Comments (scroll down to add your own):

  1. I signed up with Citicard Business card just for that reason, a $150 worth of points. the downside is that I have to go to a separate website to manage and pay my bill from my personal Citicards, but it will be getting closed down in the next couple months anyway.

    Comment by Eric — May 9th 2008 @ 1:43 pm
  2. Advanta Platinum BusinessRewards card offers a 15 month 0% balance transfer.

    Are you crazy?

    “In accordance with applicable law and the terms of your Card Agreement, we may change all of your account terms, including rates and fees, at any time for any reason. This means that your account rates, including any introductory or promotional rates offered, are not guaranteed; all account rates may be increased, fixed rates may change to variable rates, and variable rates may change to fixed rates.”

    Comment by GJ — Jul 2nd 2008 @ 5:06 am
  3. GJ: That’s true of pretty much any credit card issued by pretty much any company. If you read the fine print, they all leave themselves miles of wiggle room. But guess what? If they try to play games, you can vote with your feet. There are tons of 0% balance transfer offers out there. This just happens to be the longest one available.

    Comment by admin — Jul 2nd 2008 @ 8:59 am
  4. We want a credit card which can help us to apply for more subscribe to the internet or travel application

    Comment by Faray Mussa Kalume — Mar 19th 2010 @ 12:56 pm

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