Step 23. Business Credit Cards

Applying for the right business credit card is a great way to start building credit for your business. Not only will it help you create a clean separation between your personal and business finances, but your prompt payments will build a solid credit history for your business.

Obtaining A Business Credit Card

Why You Should Get A Business Credit Card;
Applying for and getting approved for a business credit card is one of the simplest ways to purchase on credit for your business. It will also help to build your business credit history. Business credit cards have a few advantages over personal credit cards. They contain detailed reports, which helps you track expenses more easily. There is also usually a higher credit limit.

One thing business credit cards have in common with personal credit cards is rewards programs. There are a large number of business credit cards offering various rewards programs. Be sure to shop around until you find the one that best fits your needs. One other thing to keep in mind, you’ll want a business credit card that reports to D&B, Experian, and other business credit bureaus. This will help with building your business credit history.
When you are just starting out, your business has no credit history. You might ask how can your business get a credit card since there is no credit history for credit card companies to check. In those cases, they will actually look at your personal credit score. Once you are approved for your business credit card, you can begin using it and establishing your business credit.

How To Get A Business Credit Card

  • To Do  1 – Visit Your Bank

    Your first step is to visit your bank, credit union or check other banks for business credit card offers. Be sure the company will report your transaction to business credit bureaus and not to personal credit bureaus. This will help in building your business credit.

  • To Do 2 – Open A Secure Business Credit Card Account

    If you don’t qualify for an unsecured business credit card because bad or limited personal credit history you can get a secured business credit card with a revolving line offered to your business by a bank. A secure business credit card can greatly help you to jumpstart your business credit.

    We Recommend  Secured Business Credit Card from Wells Fargo.

  • To Do 3 – Fill Out A Business Credit Card Application And Submit It

    Be sure any account you open actually does report to Dun & Bradstreet and Experian for business credit purposes. You can always ask before opening the account. Before applying to any business cards make sure your personal credit qualifies. You can check it by clicking on “Learn More” for each card under “Recommended Requirements to Know” on our Business Credit Cards section. Making payments is a large factor in obtaining a great business credit score. Some business credit bureaus consider on time payments 1/2 of your business credit score. D&B’s PAYDEX system actually penalizes you for on time payments. The only way to get the best credit score with D&B is to pay 30 days or more early.

Capital One® Spark® Spark Cash Select for Business

Recommended Requirements to Know

– Personal Credit Score: Minimum 700
– Business Credit Utilization: 60% or less of your business credit.
– Months In Business: minimum of 12 months
– Open Personal Tax Liens: 0
– Six-Month-Old Inquiries: 6 or fewer inquiries in the last 6 months.
– Open Personal Bankruptcy: 0
– Personal Credit Age: minimum of 1 year


Bank of America®
Business Advantage Cash Rewards Mastercard®

Recommended Requirements to Know

Personal Credit Score: Minimum 670
Personal Credit Age: minimum of 1 year
Open Personal Bankruptcy: No bankruptcy on your personal credit report.
Six-Month-Old Inquiries: 10 or fewer inquiries in the last 6 months.
Open Business Tax Liens: Fewer than 1
Open Personal Tax Liens: Fewer than 1


Explore other Business Credit Cards and their requirements Click Here

To Do List To Complete In This Step

1. Understand credit cards approval requirements

2. Apply for business credit cards.

Business Credit Cards
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