Business Credit Card FAQs

1. What are instant approval business credit cards?Some business credit card offers allow authorized company officers apply online, and find out within minutes whether or not their application was approved. To find out if the new business credit cards you are interested in provide instant approval just visit the card company’s website.

2. Which business credit cards use EIN only?Companies like Home Depot, Lowe’s, and Staples often issue cards based only on your Employer Identification Number (EIN), rather than your social security number. Banks occasionally do this if you have a business account that’s in good standing. Interested in business credit cards that accept the EIN? Choose one with the best rate and most flexible features.

3. Can I apply for a business credit card without a social security number?Almost all card issuers require a social security number when you apply for new business credit cards. Some stores that issue in-store charge cards (i.e. Home Depot or Staples) waive this requirement, however, if you provide a valid Employer Identification Number (EIN).

4. Are business credit cards attached to my personal credit?Anyone who includes their social security number on a credit card application will be held liable for charges and responsible for payments. All full-fledged credit cards require anyone requesting new business credit cards provide their social security number. So, virtually all business credit cards issued today are attached to the applicant’s own personal credit.

5. Can business credit cards be used for personal use?Yes, how you use a business credit is entirely up to you. However, if you want to keep business and personal expenses separated for legal or tax accounting reasons, you shouldn’t make personal purchases on a business credit card. If you do, simply reimburse the business for your personal expense.

6. What business credit cards have no personal guarantee?There are virtually no business credit card offers that don’t require some kind of personal guarantee. The officer of the company applying for the business credit card is required to provide a social security number or EIN and is responsible for repaying any charges to the card.

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