Frequently Asked Questions

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Why do I need a business credit card?

Business owners benefit in many ways from using a business-only credit card. It will separate business spending from your personal accounts. This can help you manage your cash flow, track expenses and spot tax deductions. You can gain valuable rewards to help your bottom line in the form of cash-back, airlines miles or 0% introductory APR. Plus, you will establish business payment history, which can strengthen your business credit report.

Do I need a Tax ID number to apply for a business credit card?
If you are a sole proprietor, independent contractor or freelancer you can use your Social Security number. If you are a limited liability company (LLC) or corporation, then you will need a Tax ID number for your application.
What should I look for when shopping for a business credit card?
Rewards

You can easily earn airline miles, cash back or rewards points. Match rewards to the needs of your business.

Interest Rate

Some business credit cards come with a 0% introductory APR followed by a variable rate. If you may not pay off your bill in full each month, choose a card with a lower APR.

Are business credit card expenses tax deductible?
Typically, all ordinary business expenses are deductible, including the cost to maintain a business credit card. Annual fees, late fees and interest charges are tax deductible. It is always best to work with your certified public accountant (CPA) to understand which business expenses are tax deductible and which are not.
Can I apply for a business credit card online?
Yes, you can apply online. Compare card features and benefits and click APPLY NOW to apply directly on the bank’s secure application website.
What information do I need to apply for a business card?
Typically, you will need to provide basic personal information, plus some information about your business. That includes your Tax ID number (or Social Security number for sole proprietors). You may also need to provide the legal business name, structure and date it was formed, along with your business’s total annual revenue.
What is a TAX ID number?
A Federal Tax ID number is also known as an Employer Identification Number (EIN). This is a 9-digit number issued to a business by the IRS. It’s like a Social Security number for your business. You can apply for a EIN number for free online at the IRS.
How long will it take to receive my card?
This varies by issuer. Typically, once your application is approved you will receive your card by mail within 7-10 days.
Can a business credit card help you establish a business credit report?
Yes. Opening a business credit card may be the fastest and easiest way to begin building a business credit history. Most card issuers report payment history to at least one commercial credit reporting agency. Paying your business credit card bills on time can provide a positive credit reference.

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