• Apple Pay
  • Venmo
  • Escrow
  • Usaa
  • Escrow
  • Chime
  • Grubhub
  • Student Discount
  • Reviews
  • Credit Card
  • Electronic Benefits Transfer (EBT)
  • Looking for a Job
    • Six Month Certificate Programs
    • Highest paying agriculture jobs
    • Best paying jobs in industrial machinery/components
    • Jobs at 14
    • Jobs that don’t require college
    • Interview
      • Behavioral questions and answers for interviews
      • Technical Interview
      • Sample thank you email after interview
      • You were fired on an application
    • Job Application
      • Kohl’s Job Application
      • Baskin Robbins Hiring Age
      • Subway Hiring Age
      • Target Hiring Age
      • Apply to hobby lobby
    • Job Profiles
      • Physiologist
      • Golf Caddy
      • Environmental Consultant
  • Student Finance
    • Credit Card
      • Maurices Credit Card Payment
      • How can I pay my Verizon bill?
      • How to Pay my TJ Maxx Credit Card?
      • How To Apply For Dicks Sporting Goods Credit Card?
      • How Suddenlink bill can be paid?
      • How to make Furniture Row credit card payment?
      • Bed Bath & Beyond’s Credit Card Payment Process
    • Netspend Atm
    • Trial deposit Amazon Creditbuilder
    • Transfer Money From EDD Card to a Bank Account
    • Credit online shopping
    • Transfer funds with Routing and Account Number
  • Student loans
    • Increase Total Loan Balance
    • Bad Credit Loans Urban BCL
    • Reduce Total Loan Cost
    • Canceling Student Loan Debt
    • Unsubsidized Student Loan
    • Borrow money from a millionaire
    • H&R block Emerald Advance
    • Chevy offer 0 Financing
    • Days Mortgage Approval
    • Mortgage on 1 million
  • Insurance
    • Subscriber Id Insurance Card
    • United American Insurance Provider Portal
    • Unregistered Vehicle with Insurance
    • Home Insurance Claim Adjuster Secret Tactics
    • Agi renters condo insurance
    • Walgreens accepted insurance
    • Dentist that take caresource
    • Redpoint county mutual insurance company
    • Insurance walgreens accepts
    • Cricket wireless insurance claim
  • Social Security
    • Stop paying child support
    • Home depot health check
    • Beat contempt of court for child support
    • Medical Schools that don’t require mcat
    • Social security Recipients Stimulus check
    • Find 401k Social Security Number free
    • Cash Advance Unemployment Benefits
    • Laminate Social Security Card
  • Ubication
  • Looking for a Job
    • Six Month Certificate Programs
    • Highest paying agriculture jobs
    • Best paying jobs in industrial machinery/components
    • Jobs at 14
    • Jobs that don’t require college
    • Interview
      • Behavioral questions and answers for interviews
      • Technical Interview
      • Sample thank you email after interview
      • You were fired on an application
    • Job Application
      • Kohl’s Job Application
      • Baskin Robbins Hiring Age
      • Subway Hiring Age
      • Target Hiring Age
      • Apply to hobby lobby
    • Job Profiles
      • Physiologist
      • Golf Caddy
      • Environmental Consultant
  • Student Finance
    • Credit Card
      • Maurices Credit Card Payment
      • How can I pay my Verizon bill?
      • How to Pay my TJ Maxx Credit Card?
      • How To Apply For Dicks Sporting Goods Credit Card?
      • How Suddenlink bill can be paid?
      • How to make Furniture Row credit card payment?
      • Bed Bath & Beyond’s Credit Card Payment Process
    • Netspend Atm
    • Trial deposit Amazon Creditbuilder
    • Transfer Money From EDD Card to a Bank Account
    • Credit online shopping
    • Transfer funds with Routing and Account Number
  • Student loans
    • Increase Total Loan Balance
    • Bad Credit Loans Urban BCL
    • Reduce Total Loan Cost
    • Canceling Student Loan Debt
    • Unsubsidized Student Loan
    • Borrow money from a millionaire
    • H&R block Emerald Advance
    • Chevy offer 0 Financing
    • Days Mortgage Approval
    • Mortgage on 1 million
  • Insurance
    • Subscriber Id Insurance Card
    • United American Insurance Provider Portal
    • Unregistered Vehicle with Insurance
    • Home Insurance Claim Adjuster Secret Tactics
    • Agi renters condo insurance
    • Walgreens accepted insurance
    • Dentist that take caresource
    • Redpoint county mutual insurance company
    • Insurance walgreens accepts
    • Cricket wireless insurance claim
  • Social Security
    • Stop paying child support
    • Home depot health check
    • Beat contempt of court for child support
    • Medical Schools that don’t require mcat
    • Social security Recipients Stimulus check
    • Find 401k Social Security Number free
    • Cash Advance Unemployment Benefits
    • Laminate Social Security Card
  • Ubication
No Result
View All Result
No Result
View All Result

How to get a business credit card for a startup?

As the creator of the startup, you must have a good credit history to get the credit card

by Luis O., CFA, FRM
3 December, 2022
in Credit Card
How to get a business credit card for a startup?

Starting a company is always scary, but it is quite an important step in the life of a business. A start-up’s first few years can be difficult financially; every business must work hard to compete in market positioning and consolidate.

When it comes to requesting a credit card for your startup, you may have many doubts about whether they will give it to you precisely because you do not have a reputation or a credit history as extensive as another company might have.

Contents

  • Why do startups need a business credit card for?
  • Easy ways to get a business card for a startup
    • Check your personal credit
    • Research your options
    • Collect the necessary information to apply
  • Best Business Credit Cards for Startups
    • U.S. Bank Business Triple Cash Rewards World Elite Mastercard
    • The Blue Business Plus Credit Card from American Express
    • Capital One Spark Cash Select

Why do startups need a business credit card for?

Unlike with a smaller project, a startup usually receives initial funding to get the business off the ground. Despite that, both types of businesses need financial support, having fairly similar banking needs.

A business credit card looks and functions much like a personal credit card. Its function is to provide the customer with a revolving credit account, with a limit fund established according to the customer’s credit history.

These business credit cards generate a billing cycle, where the customer must pay the amount spent on the card; if not paid within the billing time, interest will be charged in addition to the balance owed on the account.

Having a business credit card in a start-up company is beneficial because it helps them keep personal finances in a different account than the company’s finances, and it also helps to separate both accounts at tax time.

Check ➤  When does Capital One report to the credit bureau?

A start-up company mostly applies for a specialized business credit card because it offers more funds and broader access than a personal credit card and makes it easier to control company-related expenses.

Another beneficial point of having a business credit card is to generate business credits with its use and thus earn various rewards for regular card purchases.

Easy ways to get a business card for a startup

YouTube video

Applying for a business credit card for your startup is not complicated. However, you should not ask for it without doing some research first. Here are all the most important things you need to know to be prepared and get your application accepted.

Check your personal credit

Since the company does not have a credit card in your name, you will have no credit history for the bank to review and approve. Therefore, the lender will ask for your social security number to check your credit history.

We recommend that before you apply, you check your credit history because your credit history may determine the approval of the card. The bank needs to verify that the person responsible for the card is a reliable borrower to grant credit benefits.

Additionally, you will be directly responsible for the business credit card and will be liable for the payments and transactions made with it. This means that, even if the employees handle it, you will be the beneficiary of the company credit card.

Among the requirements to be checked by the lender will be the payment of invoices and taxes on time. Another thing that may be helpful is that if your personal credit card has a high credit score, the bank may set a higher funds limit and lower interest rates.

Check ➤  Menards big credit card payment

Research your options

Once you know your financial situation, you can start researching the financial market to have more options for applying for a credit card for your start-up business.

The most advisable thing to do is first to investigate the bank where you have your personal account to see the business credit card options available. This can be beneficial because the bank will approve the application more easily if there is a previous relationship.

However, this is not exclusive. Studying the offers of other banks is also recommended since they may have options that are better suited to the plan you are looking for in your startup company.

Things to consider when researching include sign-up bonuses, card benefits, credit rewards, and, of course, the credit funding limit.

Collect the necessary information to apply

Once you are researching different options, start collecting all the requirements you might be asked for at the time of application to make the process go faster. Each bank may vary in its requirements. However, most require similar documents.

Among the information you will need to submit is the company’s legal name, address and telephone number, type of business, legal structure, number of employees, annual income, social security number, and estimated income as monthly expenses.

To this documentation, the bank information of the person applying for the card must be added.

Best Business Credit Cards for Startups

Now that you have all the prerequisite steps for applying for a business credit card, we’ll recommend the best business credit cards for a startup company.

Check ➤  Pc Richard and Son Credit Card Payment • What you need to know

U.S. Bank Business Triple Cash Rewards World Elite Mastercard

This card is considered the best option for startups, has no annual tax, provides a $500 welcome bonus, and requires a minimum credit score of 700.

The Blue Business Plus Credit Card from American Express

The card from AmEx offers 15,000 opening bonus points, along with a $250 welcome bonus. In addition, double points will be earned on all purchases up to $50,000 annually. It is an adequate option for a start-up company to earn profits on purchases.

Capital One Spark Cash Select

This option will give you $500 in welcome cash, 1.5% to 5% cashback, and no annual tax.

Click to rate!
[Total: 0 Average: 0]
Related Posts:
  1. Cabela’s credit card payment online
  2. Can you pay rent with a credit card?
  3. What is SYNCB on my credit report?
  4. Carson’s credit card login payment
  5. Which Credit Card companies use Equifax only?
  6. How much is Lexington Law credit repair?
  7. Home Depot Credit Card Payment Methods
  8. Credit Innovation Group Reviews
Was this Content Helpful?
YesNo

+ Categories

  • ACCOUNTING
  • CANCELING
  • COMPARATIVE
  • INVESTING
  • TRAVEL

Cash App

  • Bank cash app on plaid
  • Apps that pay instantly to cash app
  • Cash app bank name
  • Hack cash app with your name
  • Random person sent me money on cash app
  • Send money on cash app without debit card
  • Transfer money from gift card to cash app
  • Cash app payment completed but not received
  • how to add money to cash app card at walgreens
  • Need a debit card for cash app

Doordash

  • Doordash background check take
  • Free food on doordash
  • Make $500 a week with doordash
  • Doordash close
  • How old do you have to be to doordash
  • Chick fil a pickup

Paypal

  • Convert amazon gift card to paypal
  • Transfer visa gift card balance to paypal
  • Make $1000 per day
  • Split payment on paypal
  • Paypal pay in 4 refund
  • How old do you have to be to have a paypal
  • Buy money order online with paypal
  • Increase paypal credit limit

Zelle

  • Chime have zelle
  • Use zelle without a bank account
  • Ally zelle limit
  • Zelle with a credit card
  • Huntington bank have zelle
  • Varo work with zelle

Taxes

  • 971 irs code
  • Tax refund schedule chart
  • irs code 570
  • Code 150 irs transcript
  • Mail tax return regular envelope
  • 766 irs code
  • Form 1099-repossession house
  • Sales tax rate orange county
  • K-1 loss affect my taxes
  • Shopify report to irs

Careers

  • APPRENTICESHIPS
  • CAREER INDUSTRY
  • CAREER PATH
  • COLLEGE
  • COURSES
  • COVER LETTER
  • DEGREE
  • INTERNSHIPS
  • POSTGRADUATE
  • RANKINGS
  • REVIEWS
  • SCHOLARSHIPS
  • SELF EMPLOYMENT
  • STUDENT DISCOUNT
  • UCAS
  • UNIVERSITY
  • WORK EXPERIENCE
  • ABOUT US
  • CONTACT
  • TERMS & CONDITIONS
  • PRIVACY POLICY & GDPR
  • COOKIE POLICY
  • DISCLAIMER
  • JOBS

© 2004 - 2022 allaboutcareers.com

No Result
View All Result
  • Looking for a Job
    • Six Month Certificate Programs
    • Highest paying agriculture jobs
    • Best paying jobs in industrial machinery/components
    • Jobs at 14
    • Jobs that don’t require college
    • Interview
      • Behavioral questions and answers for interviews
      • Technical Interview
      • Sample thank you email after interview
      • You were fired on an application
    • Job Application
      • Kohl’s Job Application
      • Baskin Robbins Hiring Age
      • Subway Hiring Age
      • Target Hiring Age
      • Apply to hobby lobby
    • Job Profiles
      • Physiologist
      • Golf Caddy
      • Environmental Consultant
  • Student Finance
    • Credit Card
      • Maurices Credit Card Payment
      • How can I pay my Verizon bill?
      • How to Pay my TJ Maxx Credit Card?
      • How To Apply For Dicks Sporting Goods Credit Card?
      • How Suddenlink bill can be paid?
      • How to make Furniture Row credit card payment?
      • Bed Bath & Beyond’s Credit Card Payment Process
    • Netspend Atm
    • Trial deposit Amazon Creditbuilder
    • Transfer Money From EDD Card to a Bank Account
    • Credit online shopping
    • Transfer funds with Routing and Account Number
  • Student loans
    • Increase Total Loan Balance
    • Bad Credit Loans Urban BCL
    • Reduce Total Loan Cost
    • Canceling Student Loan Debt
    • Unsubsidized Student Loan
    • Borrow money from a millionaire
    • H&R block Emerald Advance
    • Chevy offer 0 Financing
    • Days Mortgage Approval
    • Mortgage on 1 million
  • Insurance
    • Subscriber Id Insurance Card
    • United American Insurance Provider Portal
    • Unregistered Vehicle with Insurance
    • Home Insurance Claim Adjuster Secret Tactics
    • Agi renters condo insurance
    • Walgreens accepted insurance
    • Dentist that take caresource
    • Redpoint county mutual insurance company
    • Insurance walgreens accepts
    • Cricket wireless insurance claim
  • Social Security
    • Stop paying child support
    • Home depot health check
    • Beat contempt of court for child support
    • Medical Schools that don’t require mcat
    • Social security Recipients Stimulus check
    • Find 401k Social Security Number free
    • Cash Advance Unemployment Benefits
    • Laminate Social Security Card
  • Ubication

© 2004 - 2022 allaboutcareers.com