How to Get a Business Credit Card

How to Get a Business Credit Card

How to Get a Business Credit Card

Are you looking to get a business credit card? Getting a good business credit card can be a valuable asset for any entrepreneur or small business owner. Not only does it allow you to separate business and personal expenses, but it can also help build your company's credit history and provide rewards and perks. However, getting approved for a business credit card is different from getting a personal card.


In this article, we'll explore how to get a business credit card and provide tips for choosing the right business credit card for your needs.


Establish Your Business's Credit History

Before applying for a business credit card, it's essential to establish your business's credit history. Lenders will review your company's credit report to assess the risk of extending credit. If you're just starting, you may need to build your business credit from scratch.


One way to build business credit is to open trade lines with vendors or suppliers who report payment history to commercial credit bureaus. 


Determine Your Business's Eligibility

When you ask how to get a business credit card, it is important to note that most credit card issuers have specific requirements for business credit card applicants. Generally, you'll need:


  • An established business entity (LLC, corporation, etc.)
  • Employer Identification Number (EIN) or Tax ID
  • Business name, address, and phone number
  • Annual business revenue and expenses
  • Personal information and credit history (for the business owner)


Having a good personal credit score can increase your chances of approval, as issuers may also review your credit report.


Compare Business Credit Card Options

Not all business credit cards are created equal. Take the time to compare various options based on factors like:


  • Annual fees and interest rates
  • Rewards programs (cash back, travel, etc.)
  • Welcome bonuses or 0% introductory APR periods
  • Credit limits and spending limits
  • Additional employee cards
  • Business-specific benefits (expense tracking, accounting integrations, etc.)


Look for a card that aligns with your business's spending patterns and provides valuable rewards or perks. For example, a card with travel rewards or airport lounge access could be ideal if you frequently travel for work. Alternatively, a cash-back card may be better if you have high recurring expenses like office supplies or inventory purchases.



Gather Required Documentation

Most credit card issuers will require documentation to verify your business's legitimacy and financial standing. Common documents needed include:


  • Business license or registration
  • Recent business tax returns
  • Financial statements (profit and loss, balance sheet)
  • Business bank account statements
  • Articles of incorporation or partnership agreements


Having these documents readily available can expedite the application process.


Submit Your Application

Once you've identified the right business credit card for your needs, it's time to apply. Most issuers allow you to apply online, but you may need to print and mail in supporting documentation.


During the application process, you'll need to provide details about your business, such as:


  • Legal business name and address
  • Type of business entity
  • Number of employees
  • Annual business revenue and expenses
  • Intended use for the credit card
  • Personal information (name, Social Security number, date of birth)


Be prepared to provide your credit score and details about any existing business debt or credit lines.


Maintain Good Credit Habits

Once approved for a business credit card, it's essential to maintain good credit habits to keep your account in good standing and build a strong credit history for your business. This includes:


  • Making payments on time every month
  • Keeping your credit utilization low (under 30% of your credit limit)
  • Monitoring your credit reports for errors or fraudulent activity
  • Avoiding excessive applications for new credit
  • Responsibly managing employee card usage


Building a positive credit history with your business credit card can help you qualify for higher credit limits, better interest rates, and more favorable terms in the future.


Consider Alternative Financing Options

While business credit cards can be valuable, they may not be the best fit for every situation. Depending on your financing needs, you may want to explore alternative options such as:


  • Business line of credit: A revolving credit line that provides access to funds as needed.
  • Small business loan: Borrowed capital from a creditor that is paid back with interest.
  • Invoice financing: Borrowing against outstanding invoices or accounts receivable.


Each option has its advantages and drawbacks, so it's important to carefully evaluate your business's needs and financial situation before deciding on the best financing solution.

Whether you’re looking for a credit card or want to explore other types of funding solutions, Yardline. can help you get the funding you need to buy new inventory, run more ads, and launch new products.


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