How To Get a Business Credit Card in 3 Steps (2024)

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Business credit cards are handy tools, and almost anyone can apply for one. Whether you're a freelancer, gig worker, side hustler, or solo entrepreneur generating income from an activity outside the traditional employer–employee setup, there's a good chance you qualify for a small business card. The process can appear overwhelming if you've never applied for a business credit card, so we've broken down how to get a business credit card in three steps.

Here's what you need to know about business credit cards and how to apply for one.

How Do Business Credit Cards Work?

Business credit cards can be similar to personal credit cards in perks and reward-earning structures but generally offer features tailored to business-specific activities, which makes them unique. With most business cards, you'll find employee and expense management tools, earning categories for business-related spending — such as office supplies, mail couriers, and advertising — and credit limits designed to accommodate large or high-frequency purchases.

Credit: Bench Accounting/Unsplash

Two primary goals of business credit cards include assisting in streamlining your organization's finances and building credit. As your business grows, maintaining a thorough understanding of spending and having access to healthier lines of credit at favorable rates will pay dividends.

Business credit cards can be incredibly valuable. They can earn rewards, provide stellar signup bonuses, and maximize your business' spending. And almost anyone with a business can qualify for one.

Related: Top Small-Business Credit Card Offers This Month

What Qualifies as a Business?

Whether you own a rental property, sell items for profit, work as a contractor, or perform a service that generates taxable income, you are operating a business. If you are generating a profit (or intend to) from an ongoing enterprise, you are likely eligible for a small business card. Business owners of all types of organizations — from large to small — are considered eligible to apply for a business credit card, including:

• Sole proprietorships
• Partnerships
• Limited Liability Company (LLC)
• Corporations
• Freelancers

The word “business” is broad and widely inclusive, which helps open more financial doors for you and your business, earning rewards on your spending to boot.

What information is required for a business credit card application?

Business credit card applications will typically ask for information about the business owner — from both a personal and business standpoint. Here's what most applications will generally want to see:

• Business name, address, and contact information
• Business structure, industry, and your role in it
• Annual business revenue, number of employees, and business age
• Employer Identification Number (EIN) or the business owner's Social Security Number (SSN) if you don't have an EIN
• Personal income and date of birth

As long as you can honestly provide this information, applying for a business credit card is a straightforward process.

3 Steps To Apply For and Get Your Business Credit Card

The process of applying for a business credit card is similar to that of applying for a personal credit card. While the information you'll need to provide might differ slightly from the personal application, there aren't many additional hoops to jump through with a business application.

Here are three easy steps you'll follow when applying for a business card.

Step 1: Determine your eligibility

The first step in applying for a business credit card is ensuring you're eligible for one. If you own a business — even if you're the only employee and pre-revenue — good news: You're eligible!

A second consideration while determining eligibility is evaluating your personal credit. Most business credit cards will request your SSN while applying and will use it to check your personal credit history. Your personal credit acts as a guarantee for your business' credit line. If your business defaults on what it owes, you could find yourself personally liable and see an impact on your personal credit score.

Generally speaking, the better your personal credit is, the higher likelihood you will receive approval for your intended small business card.

Step 2: Compare business credit cards

The second step in the process is considering how your business operates and what it spends money on. Understanding which goods or services receive the bulk of your spending can impact the reward structure you should consider pursuing. For example, if your business frequently finds the need to finance large purchases, finding a card with a 0% introductory APR on new purchases and balance transfers will be significantly more valuable than a card offering a different perk.

Credit: Brooke Cagle/Unsplash

Different business credit cards will offer different spending categories, which can help you maximize every purchase. With spending comes rewards, so you should weigh the ability to earn transferable points or cash back. You will find one form of reward more valuable than the other, based on your situation.

It's also worth considering your current relationships with credit card issuers. If you hold personal credit cards with a specific issuer, finding a business card from the same issuer could grow your reward-earning capabilities. Personal and business credit cards could earn transferable points in the same program. For example, if you held the American Express® Gold Card(a personal card) and The Blue Business® Plus Credit Card from American Express,you could earn Membership Rewards that pool into the same account.

Step 3: Complete the application

After deciding on a business credit card, the third step is applying. You can do so online, but most issuers also offer an option to call and apply with a representative. Throughout this stage, you'll provide information about your business, such as the name, structure, revenue, and more. Honesty is critical, so ensure you are providing accurate details.

If you complete the application virtually, submit it after providing all relevant information. Decisions are offered instantly in many cases, so it won't take long to hear back from the card issuer.

Top Rewards Cards for Small Business

There are lots of business cards on the market. Some will make more sense for your business than others. Here are some of the best business credit cards, whether you value transferable points, cash back, no annual fee, or favorable repayment terms.

Cards that earn transferable points

Transferable points are valuable reward currencies for furnishing loyalty program accounts with airlines and hotels. You can earn transferable points by opening a card with Chase, American Express, and Capital One — then take advantage of their many transfer partners.

You can earn a hefty signup bonus after reaching a reasonable spending target. Earn points with 3x earning on popular categories of business purchases (up to $150,000 of annual spending across bonus categories, then earn 1x). With accessible benefits and an annual fee of only $95 — and no foreign transaction fees — the Ink Business Preferred® Credit Card is one of the most value-driven business cards on the market.

Check out our full review of the Ink Preferred for more details.

The Business Platinum Card® from American Express delivers substantial long-term value, due to its fantastic list of travel benefits. The card is geared towards road warriors and entrepreneurs who travel for business. This card levies a high annual fee but may feature the best elite-status perks of any business card out there.

Check out our full review of the Business Platinum Card for more information.

The American Express® Business Gold Card offers impressive value, thanks to useful bonus categories and high earning rates. Cardholders can earn 4X Membership Rewards points on the two select categories where your business spent the most each month, 3X points on prepaid flights and hotels booked at AmexTravel.com, and 1X on other purchases. The 4X points earn rate applies to the first $150,000 in combined purchases from the card bonus categories each calendar year, offering 600,000 bonus points if you maximize your spending.

Our Amex Business Gold review has all the details.

Cards that earn cash back

Plenty of cards offer cash back as the primary reward structure for those who want to avoid learning about how to use and transfer points. If you wish to offset expenses or put more money back in your pocket, there are many great options for cards offering cash back.

The Capital One Spark Cash Plus features a modest annual fee and unlimited cash back on business purchases. For those who value simplicity, you'll earn 2% cash back on every purchase and 5% cash back on hotels and rental cars booked through Capital One Travel. You can convert your cash back into miles if you hold a card earning Capital One miles.

The U.S. Bank Business Triple Cash Rewards World Elite Mastercard® features a quality welcome bonus after meeting the minimum spending requirement and a consistent 3% cash back at gas stations, EV charging stations, office supply stores, restaurants, and cell phone providers.

Cards with no annual fee

Just because a card doesn't levy an annual fee doesn't mean it can't offer some fantastic perks you and your business can use. Here are some great no-annual-fee business credit card options.

The Ink Business Cash® Credit Card provides some of the highest returns on spending of any no-annual-fee business card and offers one of the best sign-up bonuses. Don't overlook this card if you spend at office supply stores, on internet and phone bills, or at gas stations. Full details are in our Ink Cash review.

The Ink Business Unlimited® Credit Card earns 1.5% cash back (or 1.5x points if paired with an Ultimate Rewards-earning card) on every dollar spent. If you hold a Chase Ultimate Rewards card with an annual fee, you can convert your cash back into rewards points for additional redemption options. Our Ink Unlimited review has all the details.

Cards with 0% introductory APRs

For businesses that need financial flexibility, finding a card with a 0% introductory APR and favorable repayment terms could be incredibly valuable. Here are some of the best cards offering 0% introductory APRs.

The Blue Business® Plus Credit Card from American Express earns 2x points on all eligible purchases — up to $50,000 per calendar year, then 1x. The card also has an introductory APR of 0% on purchases for 12 months from date of account opening, then a Variable APR of 18.49% - 26.49% (Rates & Fees). More details are available in our Blue Business Plus review

The American Express Blue Business Cash™ Card earns 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% (issued as a statement credit). The card also has an introductory APR of 0% on purchases for 12 months from the date of account opening, then a Variable APR of 18.49% - 26.49% (Rates & Fees). Check out our full review of the Blue Business Cash for more details.

Why You Want a Business Credit Card

Stellar sign-up bonuses aside, business credit cards offer several advantages. Here are some of the top reasons to consider applying for a business credit card:

• You can separate your expenses. Even the most organized people need a hand keeping personal and business expenses separate. Logistically, a different card account makes managing expenses easier for you and your accountant.
• Business cards have specific rewards and bonus categories. Your personal rewards card may earn extra points with your favorite airline or hotel program, but it doesn't provide any bonuses on significant business expenses. Several cards offer bonuses when you spend on business-related purchases, such as advertising, shipping, and more.
• You can build or grow your business. Credit cards can help with cash flow. While we'd never recommend you carry a balance, the ability to do so is there to help provide a cushion when needed. At a minimum, using a credit card instead of a check or debit payment gives you 20+ days to pay off a purchase — though this timeline varies depending on when your statement closes and your bill is due.
• You can earn additional rewards. One of the best reasons to use credit cards is for the rewards. The more you spend, the more you earn. Finding the right rewards program to earn with for your business is part of deciding which card is best for you.
• You can find purchase protection/insurance services. Business credit cards come with different insurance and protection services than personal credit cards. While many perks overlap, you may find additional coverage available. Coverage can extend to equipment purchases made by the business or insurance on travel-related expenses like rental cars.

Credit: Blake Wisz/Unsplash

Truths & Myths About Business Rewards Cards

Many misconceptions about business credit cards are floating around, and it's important to address some of the most common ones. Additionally, we've shared some common truths as well.

Common myths

• You need a Federal EIN or Tax ID to get a business rewards card. A sole proprietorship, where you use your Social Security Number, is perfectly acceptable on the majority of business rewards card applications.
• You need multiple employees and a storefront to qualify for a business card. No, you don't. A single-person business that wants to manage expenses and rewards while operating entirely online is perfectly suitable.
• The business must be your primary form of income to be eligible for a business card. This statement is completely false. Many small businesses start as a hobby or side project and grow into a labor of love and passion.
• You have to pay your balance due with a business checking account. While it may be better for bookkeeping purposes, banks don't require you to pay your business credit card balance with a business checking account. You can set up auto-pay — or make manual payments — from a personal checking account.

Common truths

• Business credit cards will help you build a financial profile for your business if you need a bank loan. Regular use of your business credit cards shows that you have the financial wherewithal and stability to take and manage credit/debt.
• If a credit card issuer has a personal and business card, you can receive both cards and the bonuses on both. Think of business and personal credit cards from the same issuer as separate entities. Sure, they're both credit cards, but different business units at the bank issue and manage personal cards versus business cards.
• Credit card issuers want to recruit new small businesses. Just as card issuers wish their card to be the first one out of your wallet for your personal expenses, they want the same for your business expenses. If you have a personal credit card, consider looking to that issuer for a complimentary business card product. Doing so will build on a relationship with the issuer and potentially allow you to earn rewards in the same program as your personal card.

Business Credit Card Tips & Mistakes To Avoid

It's relatively simple to manage a business credit card, but there are a few things to bear in mind after you've received your new card.

• Avoid mixing your personal expenses with your business ones. Separating business and personal expenses will help you keep better tabs on where your money is going and save a headache come tax season.
• Be cautious of which purchases you choose to finance. Ensure you aren't burdening your business with expensive debt by thoroughly understanding your card's APR and the repayment terms associated with financing purchases. There might be better options for purchases that don't require financing than your business credit card.
• Take advantage of your card's earning capabilities. Utilize a business credit card that will reward your most frequent spending. It might be worth reevaluating your spending habits occasionally to ensure you aren't leaving potential rewards on the table, should your habits change.
• Don't default on what you owe. Defaulting on debt could have negative impacts on your credit profile. Missing a payment could trigger an increase in your card's interest rate and ding your personal credit score, making it more challenging to secure lines of credit in the future.
• Pay close attention to your spending. It's always a good idea to keep an eye on your card statement and spend analyzer tools to ensure you aren't falling victim to fraud, unauthorized employee purchases, or overspending.
• Consider starting with a secured business credit card. If you're just starting out, your business won't have a business credit score. Instead, banks will consider your personal credit history. If your personal credit score is low, you may need to look into secured business credit cards — where your credit limit is tied to a security deposit you make when opening the card — while you build your business credit history.

Really, Almost Anyone Can Get a Business Rewards Card?

Really, almost anyone can get a business credit card. You can apply for a small business credit card as long as you have a business. Even if your business is only comprised of yourself or has yet to generate a dollar of revenue, you are likely eligible for a business card.

Business credit cards offer unique perks, high sign-up bonuses, and handy tools to help you track and manage your spending. There are many reasons to get a business card — even if you don't have a traditional business — and the process can be really easy.

For rates and fees of the cards mentioned in this post, please visit the following links: The Business Platinum Card^® from American Express (Rates & Fees), American Express^® Business Gold Card (Rates & Fees), The Blue Business^® Plus Credit Card from American Express (Rates & Fees), and The American Express Blue Business Cash™ Card (Rates & Fees)