kimmy asked:
I was told by my accountant to get a Tax ID number, and open a business credit card to keep better track of my business expenses… I have very poor credit and was wondering if I will be more eligible to have a business credit card that I would use strictly for my business than a credit card open under my social security number… any info will help. Thank you!
GEORGIE
Comments
It would be easier if you went by the business’ tax ID number, that way they don’t know that you, with your bad credit, are involved. I mean they will, but you are not liable to some degree.
Many business card issuers are usually willing to give you a shot… but you may not get set up with a huge credit line right off the bat. I would recommend using a card comparison site to see what type of credit is needed to apply, and apply for a card accordingly. Your best bet is probably with Capital One or Advanta. Here is a link that shows different business card offers and what kind of credit you need to get approved. Looks like you may want to stay away from American Express for the time being.
There are business credit cards specifically made for bad credit but it may vary from banks to banks. One of the requirement is, your latest credit activities must be clean, no recent late payments and no filings for bankruptcies.
apply with your business tax id number… you will be approved quicker and get a better interest rate.
here is a list of 22 business credit cards
the one i most highly recommend is..
Blue Cash® for Business Credit Card