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How to get a business credit card

16 November 2018

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Getting a business credit card is simpler than you might think. Here’s exactly what to do.

Your business is in full swing and you think it’s time for a business credit card. The only problem is, you’re not quite sure how to get one.

Fear not: Applying for a business card is fairly straightforward. And there are myriad benefits of having one, such as separating your personal and business finances and having access to expense-management tools.

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How to get a business credit card

Applying for a business card doesn’t have to be a drawn-out process. Here are the steps:

Form a business.
Establish business credit.
Find the right business credit card.
Apply and wait to get a decision.

Let’s talk about these steps in depth.

1. Form a business.

There’s a low bar to jump for qualifying as a business. You’re eligible if you have a formal business structure such as a limited liability company (LLC) or S corporation. However, you can also apply as a sole proprietor. That means you qualify if you make money through freelance work — for example, as a photographer-for-hire or an Amazon seller. Just make sure you can produce documentation that proves you make money outside of regular employment.

If you have a formal business structure, you’ll enter your tax identification number while applying for your card. If you’re applying as a sole proprietor, you’ll simply enter your Social Security number.

2. Establish business credit.

Every provider will check your personal and business credit. Your personal credit weighs most on the provider’s decision, but having strong business credit will increase your odds of approval.

To build business credit, start by obtaining vendor credit. Put your phone and utility bill under your business name. And ask your vendors — such as your office supply store or advertising agency — if you can start small lines of credit with them. You might also want to apply for a business loan. As you make consistent on-time payments of at least the minimum amount due, you’ll build your business credit.
How to build business credit

3. Find the right business credit card.

There are many excellent cards on the market, and the perfect pick will depend on your specific needs. Here are a few key factors that will help you choose between different cards.

Annual fee. It’s a good idea to first check a card’s annual fee. You’ll want to get enough out of your card to offset this fee, which might mean earning a sufficient signup bonus or significant rewards.
Rewards. You’ll find big differences here. Consider your business spending and see whether certain cards offer accelerated rewards for your preferred categories. If your spending is relatively even across categories, you might like a card that offers a flat rewards rate for all spending.
Intro APR. Getting a 0% APR on purchases or balance transfers can be very helpful, especially when your budget is tight. For business cards, zero-interest periods tend to top out at around 15 months.
Signup bonus. Business credit cards are a competitive category, and providers are generally willing to offer big bonuses to attract business owners. A signup bonus alone can pay for your annual fee many times over.

Compare the best Mastercard business credit cards

Compare business credit cards

Updated November 20th, 2018

Name	APR (Annual Percentage Rate) for Purchases	Introductory Purchase APR	Annual Fee
Business Platinum Card® from American Express	None (Charge Card)		$450	New cardholders can earn 75,000 Membership Rewards® bonus points by spending $10,000 on purchases for the first 50,000 points and then another $10,000 for the next 25,000 points on their new card in the first 3 months.	View details	Compare	loading Fetching your data...
The Plum Card® from American Express	None (Charge Card)		$0 annual fee for the first year ($250 thereafter)	This charge card gives you the option to pay in full each month or to carry a balance for up to 60 days with no interest.	View details	Compare	loading Fetching your data...
American Express® Business Gold Card	16.24%, 20.24% or 24.24% variable		$295	Earn Membership Rewards® points after you spend in qualifying purchases on the card within your first months of card membership.	View details	Compare	loading Fetching your data...
SimplyCash® Plus Business Credit Card	14.24%, 19.24% or 21.24% variable	0% for the first 9 months (then 14.24%, 19.24% or 21.24% variable)	$0	Save on interest with a 0% intro APR on purchases for 9 months; after that your APR will be 14.24% - 21.24% variable.	View details	Compare	loading Fetching your data...
Ink Business Cash℠ Credit Card	15.24% to 21.24% variable	0% for the first 12 months (then 15.24% to 21.24% variable)	$0	$500 bonus cash back after you spend $3,000 in the first 3 months.	View details	Compare	loading Fetching your data...
Ink Business Preferred℠ Credit Card	17.99% to 22.99% variable		$95	80,000 bonus points after you spend $5,000 on purchases in the first 3 months after account opening. That's $1,000 toward travel rewards when you redeem through Chase Ultimate Rewards®.	View details	Compare	loading Fetching your data...
Marriott Rewards® Premier Business credit card	17.99% to 24.99% variable		$0 annual fee for the first year ($99 thereafter)	75,000 Bonus points after you spend $3,000 on purchases in your first 3 months from your account opening with your Marriott Rewards Premier Business credit card.	View details	Compare	loading Fetching your data...
Spark® Classic for Business	24.74% variable		$0	Get the credit you want for your business, and unlimited 1% cash back on every purchase, every day.	View details	Compare	loading Fetching your data...
Spark® Miles Select for Business	14.74%, 18.74% or 22.74% variable	0% for the first 9 months (then 14.74%, 18.74% or 22.74% variable)	$0	Unlimited 1.5X miles per dollar on every purchase, every day.	View details	Compare	loading Fetching your data...
Spark® Miles for Business	18.74% variable		$0 annual fee for the first year ($95 thereafter)	Unlimited 2 miles per dollar on every purchase, every day.	View details	Compare	loading Fetching your data...
Spark® Cash Select for Business	14.74%, 18.74% or 22.74% variable	0% for the first 9 months (then 14.74%, 18.74% or 22.74% variable)	$0	Unlimited 1.5 cash back on every purchase, every day.	View details	Compare	loading Fetching your data...
Capital One® Spark® Cash Business	18.74% variable		$0 annual fee for the first year ($95 thereafter)	Unlimited 2% cash back from Spark Cash could mean thousands of dollars each year going back into your business. No minimum to redeem.	View details	Compare	loading Fetching your data...
United MileagePlus® Explorer Business Card	17.99% to 24.99% variable		$0 annual fee for the first year ($95 thereafter)	50,000 bonus miles after you spend $3,000 on purchases in the first 3 months your account is open.	View details	Compare	loading Fetching your data...
Southwest Rapid Rewards® Premier Business Credit Card	17.99% to 24.99% variable	0% for the first 9 months (then 17.99% to 24.99% variable)	$99	Earn 2x points on Southwest® purchases and 1x point on all other purchases. Plus 6,000 anniversary bonus points.	View details	Compare	loading Fetching your data...
CitiBusiness® / AAdvantage® Platinum Select® World Mastercard®	17.99% to 25.99% variable		$0 annual fee for the first year ($99 thereafter)	Earn UP TO 50000 American Airlines AAdvantage® bonus miles: 40,000 AAdvantage® miles after making $2,000 in purchases in first 3 months and 10,000 after making a total of $6000 in purchases in first 12 months of account opening.	View details	Compare	loading Fetching your data...
Business Advantage Cash Rewards Mastercard® credit card	13.24% to 23.24% variable	0% for the first 9 billing cycles (then 13.24% to 23.24% variable)	$0	Earn up to 3% cash back on business purchases with the Business Advantage Cash Rewards Mastercard® credit card.	View details	Compare	loading Fetching your data...

Compare up to 4 providers

4. Apply and wait for a decision.

Once you’ve picked a business card, it’s time to apply. You’ll need to provide information about yourself, including:

Your name, residential status and residential address.
Your Social Security number and date of birth.
Your email address and phone number.
Financial information, like your annual income and source of income.

You’ll also need to provide information about your business, including:

The name of your business, its mailing address and its employee count.
Your years in business and annual business revenue.
Your tax identification number or Social Security number if you’re applying as a sole proprietor.

Fill out the application form, request employee cards if needed and agree to the provider’s terms. The last step is to review your application and submit it.

Most major providers offer automated applications, so you’ll likely receive a decision within 60 seconds. If there are issues with your application, you may need to wait a few business days to a few weeks to hear back.

After you’re approved, expect to receive your card within 10 business days.

Best business credit cards

Card	Best for …
Ink Business Preferred℠ Credit Card	Signup bonus, overall rewards value
Ink Business Cash℠ Credit Card	Spending on office supplies, gas and dining
Capital One® Spark® Cash Business	Flat cash back
Blue Business℠ Plus Credit Card	Intro APR
Business Platinum Card® from American Express	Airfare and premium travel

Is my small business ready for a corporate card?

What if my business gets denied for a credit card?

If your business is denied for a credit card, don’t lose hope. There are a few things you can do to increase your chances of getting one — either soon or in the future.

Ask the provider to reconsider. Many providers use algorithms that automatically process applicants. For that reason, your application may have been denied by a computer instead of a human. Call the provider and ask for its reconsideration team, who will review your application manually. At that time, you can ask why you were denied and add clarifying information that may help your chances of approval.
Increase your credit score. You may have been denied because your credit score was too low. In that case, apply again when your credit improves. Keeping debt low and paying balances on time are two tried-and-true methods to increase your score.
Apply for a card for business owners with fair credit. You don’t have to have excellent credit to get a business card. There are cards you can get with average credit, such as the Spark® Classic for Business.

Try Brex corporate card

Am I personally liable for my business credit card?

Most of the time, the answer is yes. Your provider will probably ask you to personally guarantee your debt no matter your business structure. For that reason, it’s a good idea not to charge more than you can personally pay off.
Can a business card affect my personal credit?

Bottom line

Applying for a business credit card can be very simple. If you’ve decided on a business structure, it’s a matter of comparing different products and finding the best fit. When you’ve settled on a card, you can easily apply for it on the provider’s website.

Frequently asked questions

There can be many advantages to getting a business card, including:
- Keeping your personal and business expenses separate.
- Gaining access to advanced expense-management tools, such as employee spending controls and quarterly or annual expense reports.
- Accelerated rewards on business purchases.
- Higher credit limits.
- Building business credit.

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How to get a business credit card

Getting a business credit card is simpler than you might think. Here’s exactly what to do.