Business Credit Cards can be an invaluable financial tool, whether you run a large corporation or just do freelance stuff here and there and are looking to separate your expenses. Most people assume you need a registered business to qualify, but that’s not actually the case.
Even as a sole proprietor with no official corporation, you can still access business credit cards using the same Social Security Number you’ve always used for everything. This guide will provide an overview of business cards, their benefits, and how to successfully get one – even without a traditional business structure. And if you have a traditional business structure, of course that works too!
What Are Business Credit Cards?
A business credit card is designed to be help businesses manage expenses, earn rewards in some cases, and build credit under a business name on a business credit report. Very similar to personal credit cards, but they tend to offer special perks, higher limits, and category bonuses tailored to business spending.
In addition, they tend to not report activity to the usual personal credit bureaus and instead report to commercial credit bureaus like Dun & Bradstreet. Many of these cards will still report to personal credit bureaus, namely those from Capital One, but most will not.
Key Benefits of Business Credit Cards
- Separation of Expenses: They can be an easy way to keep personal and business expenses separate and simplify things when tax time comes around.
- Higher Credit Limits: Compared to personal cards, business cards can often come with higher credit limits, or in the case of charge cards, almost unlimited purchasing power for important expenses.
- Useful Rewards Categories: While many categories will be tailored to business expenses, leveraging business cards as part of your overall travel strategy can be great because you’ll have access to many categories that are a bit more rare on the personal card side, like gas, internet, phone bills, etc.
- Introductory Offers: Some business cards will come with 0% APR for the first 12-15 months, lucrative welcome bonuses, and other cool perks that are worth taking advantage of.
Who Can Apply For A Business Credit Card?
You don’t actually need a large company to qualify for a business credit card. If you earn money through any business-related activities like freelancing, selling products online, you may be eligible to apply as a sole proprietor. Many people qualify even if they think they don’t. And if you have an established entity, then the process will be straightforward for you as well.
Let’s talk about how to apply for one as a sole proprietor so the process is clear:
- Choose the Right Business Credit Card
Different business cards offer different benefits. Consider factors like:
- Spending categories (Do you spend more on travel, advertising, or office supplies?)
- Welcome bonuses (Some cards offer large signup bonuses after meeting a minimum spend)
- Annual fees (Some premium cards have fees but provide significant perks)
- Use Your Personal Information If You Don’t Have an EIN
When applying as a sole proprietor, you can use:
- Your legal name as the business name
- Your home address if you don’t have a separate business address
- Your Social Security Number (SSN) instead of an EIN
- Estimate Business Revenue Accurately
Even if your business is small or just starting, banks expect an estimate of your annual revenue. If you haven’t made much yet, it’s okay to estimate.
- Provide an Industry and Business Description
Most applications will ask for your business type and industry. Simply select the category that best matches your work, such as consulting, marketing, or online retail.
- Submit the Application and Monitor Your Credit
Once you apply, the bank may do a hard credit pull, which can temporarily lower your credit score. If approved, make sure to:
- Use the card responsibly
- Pay your balance on time and in full
- Keep utilization low to build your business credit
Best Business Cards for Luxury Travel
- Chase Ink Business Preferred® Credit Card
- 3X points on travel, shipping, and digital advertising
- Large welcome bonus
- American Express® Business Gold Card
- Earn 4x points on the spend categories where your business spends the most each month
- Large welcome bonus
- Chase Ink Business Unlimited® Credit Card
- 1.5x points on everything, unlimited
- Earns cash back officially, but you’re able to transfer these points to your Chase Ink Business Preferred® Credit Card to “unlock them” as good transferable points
Final Thoughts
By choosing the right business credit card as part of your overall luxury travel strategy, you can unlock big points, valuable perks, and set up a strong financial foundation for future growth. If you haven’t explored business credit cards yet, now’s the perfect time to get started!
Top Biz Card Recommendation
The Chase Ink Business Unlimited® Credit Card is one the of the top business credit cards.
The Chase Ink Business Unlimited® Credit Card comes with a welcome bonus that is marketed as “cash back”. These points can be used for higher value travel redemptions if you have another Chase Ultimate Rewards card.
With no annual fee, it's a no-brainer to sign up for today.
Editors Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.