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Can I use my EIN to apply for credit card

On this page, we’ll explore the various options if you only have an EIN, or are unable to use your SSN to use for a business charge card.
Some banks and institutions prefer you to apply together with your Social Security number, this prompts them to check out your personal credit score through the application process.
Since they have short-term credit card debt and require prompt payments every month.

  • Consider Fund&Grow, a platform that’s helped thousands of entrepreneurs secure a lot more than
  • However, as we’ll explain within the next section, corporate bank cards aren’t suitable for all startups.
  • Or in case a retailer offers a business discount, sometimes they’ll require you verify your organization status will an EIN.
  • This makes it better to keep your finances separate and won’t bring about your personal credit score suffering from the inquiry.
  • It’s easiest and fastest to utilize their online request form but you may also request it by mail.

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To start out, review the card options available and choose a card that meets your business’s needs.
Then, take some time to check your individual credit, gather the info needed to make an application for the credit card and complete the application.

Should you have poor personal credit history or perhaps a low rating, you might want to try to apply without your SSN and using your EIN only.
However, not many credit card providers will allow this, and it will very likely be more difficult to be approved for a business credit card.
This means that if you use your credit card responsibly, you can build your business credit and eventually become eligible for better credit products as your organization credit score rises.
I’ll note that if avoiding an individual guarantee can be your primary concern, there are bank cards that won’t make you sign an individual guarantee but require your SSN on the application form.
Our summary of the best business credit cards that don’t need a personal guarantee contains several such options.
Getting a small company credit card without personal guarantee will make sense if you’ll solely be using the account for business expenses.

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We requests your SSN, it is possible to usually substitute your EIN number without a problem.
This card has an annual fee (rates and fees), but it addittionally has plenty of other benefits that come with it.

The IRS or the Internal Revenue Service uses this number primarily when companies report their business and personal income separately.
It’s smart to get an EIN in early stages after establishing your business.
Many small business owners prefer utilizing an EIN for business purposes, rather than their SSN being an extra layer of protection against identity theft.

Some credit card providers accept individual taxpayer identification numbers (ITINs), foreign passports or government-issued IDs, or US student visas instead of social security numbers.

Small Business Cards

It is also used for most business financial transactions, such as for example opening a bank account, taking out a loan and applying for a credit card.
For your business, you might use an EIN to use for credit, although sole proprietorships might be able to use their social security number instead.
Power its potential with one of our business bank cards, like Ink Business Preferred℠, Ink Business Unlimited℠ or Ink Business Cash℠.
You will earn an unlimited amount of 1.5% cash-back on all purchases designed for your business with the Ink Business Unlimited card.
This is the fantastic card for shelling out for categories that don’t are categorized as the most common bonus-earning categories on other business cards.
Solo is not a bank, but is really a financial super-app for small businesses, freelancers, sole proprietors, contractors, and much more.

That lowers the chance for card issuers, so that you can usually get a secured small-business charge card even though you’ve got a less-than-perfect personal credit history.
While a corporate store charge card isn’t a significant true business charge card, it’s rather a way to obtain credit for stores where you make frequent business purchases.
Moreover, certain store-specific bank cards don’t require a personal guarantee and can be obtained with just your EIN.
You may be able to earn discounts and/or cash back/points together with your spending aswell.
Business credit card providers typically require a social security number from applicants as part of a personal credit check for businesses lacking any established credit score.

Types Of Business Bank Cards That Only Require An Ein

If you’d like to obtain a business credit card making use of your LLC’s EIN, though, you then should make an application for an EIN with the IRS.
If you need an EIN specifically to apply for business credit lines or a business charge card, the process may be the same—use the IRS’s online system or fill out Form SS-4.
Browse the terms in charge card offers closely to find out whether you can find any fees, such as an annual fee or a foreign transaction fee.
If you’re planning to carry a balance from month to month, it’s also vital that you understand the current interest rate and how it might change.
American Express will instantly provide your brand-new card number if you’re approved right away.
Filling out an application for your small business credit card is fairly easy.
This guide explains what things to expect if you apply for a small business credit card.