If you are a small business owner, sole proprietor, or even if you are just in the start-up stages for your business, you may wish to apply for a business credit card to keep your expenses separate.
You may also want to take advantage of various Business Credit Card Rewards Promotions to earn additional bonus miles or points.
For instance, the current Chase Ink Card Bonuses that are only available for a limited time may be enticing you to apply for a business card.
Whether you’re a small business owner already or you’re just getting your business started, here are a few tips to help you complete a business card application.
How To Apply for a Business Credit Card
Since the Chase Ink Business Cards are so popular right now, let’s take a look at the specific requirements for their application.
1. Legal Name of Business
If you have a small business, then you can input the name of your business here.
If your business is a sole proprietorship, then the business and the individual are the same, and you can input your name here.
If you are in the start-up stages or you don’t have a business running yet, then you can also put your personal name here to apply as a sole proprietor.
2. Business Street Address, City, State, ZIP Code
Once again, if you have a small business with a physical location, then you can input your business address here.
However, if you are a sole proprietor or a start-up, then you can put your personal address here.
3. Tax Identification Number
If you have a business with a Tax Identification Number, then you can enter it here.
If you don’t have a Tax Identification Number, then you can enter your Social Security Number here.
Just be aware that as a sole proprietor, you will be personally liable for your business debts and for any debts that you incur on your business credit card (just like a personal card).
4. Type of Business
Sole Proprietors and start-ups should enter Sole Proprietor in this field.
All others can select the option that suits your business classification.
5. Years in Business Under Current Owner
If you are in the start-up stages, then select 1 year in this field.
Otherwise, select the number of years that you have been in business.
6. Number of Employees
If you are a sole proprietor, then select 1 for the number of employees, meaning 1 for yourself.
If you have employees, then input the number of employees that you have.
7. Nature of Business
You can select the option that best fits the nature of your business in this field.
If none of the options fits, then simply select Other here.
8. Annual Business Revenue/Sales
You must enter your annual revenue in this field.
If you have no revenue at this time, then you must enter $0.00 in this field.
Completing the Application
All other information can be completed just as you would a personal credit card application.
It’s important that you complete the application truthfully for your business.
Just because you are only starting a business and don’t have any revenue yet, it doesn’t mean that you won’t qualify for a business card.
If you don’t have a business running yet, but you need to talk to a customer service representative in order to clarify your application at a later time, then just explain that you are in the start-up stages of your business and that you want the card in order to keep your business and personal expenses separated.
Have you applied for a business card already? Please feel free to share your experiences below in the comments.