Am I Eligible for Business Credit Cards?
Whether you have a traditional business with an EIN or not, most people are in fact eligible to apply for business cards
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Business cards are one of the quickest and easiest ways to rack up a ton of points. They tend to have higher sign up bonuses, and by opening yourself to the world of business cards, you're increasing the number of sign up bonuses you can apply for.
But what if I don't have a business?
Are you sure about that? You do not need an EIN, business license, or any other formal documentation to apply for business cards. Take a minute to think about all of the ways that you generate income in a year. Do you sell items on Etsy, Facebook Marketplace, or eBay? Did you bring in any income by holding a garage sale? Do you occasionally pick up odd jobs, or have you been paid for babysitting or pet sitting? Then you, my friend, can apply for business cards!
On the application, simply select the business type "sole proprietor," select to enter your SSN rather than an EIN on the application, and list the business name as your full name.
Even better...
If you do own a business with an EIN, you and your spouse can BOTH apply for the same business card using the same EIN, once in each of your names. And this is where things get really crazy - you then can both go on to apply for the same exact card AGAIN under the same sole proprietor/SSN directions written above.
For example, let's look at the Ink Business Unlimited® Credit Card (linked) from Chase. You can apply for this card using the business EIN and legal business name, and then apply for the same card using your SSN as a sole proprietor, listing the business name as your full name. Your spouse can do the same, applying for the same exact card and bringing in the Sign Up Bonuses two more times. Don't forget, once you have one card, you and your spouse can send your referral links to each other, which generally bring in an additional 20,000-40,000 points to the referrer.
You can see how business cards have the ability to multiply the opportunity to accrue Sign Up Bonuses and referral points.
Things to remember
It's important to be honest here - if you expect to make only $500 babysitting this year, be honest on the application. You'll likely still get approved with a low credit limit, which you can request to increase over time if needed.
If you get declined for a reason like "not enough business history" give Chase a call and you will likely be approved over the phone after answering a few questions regarding your goals to grow your business.
Let's chat! Feel free to send me a message @ourwishfultravel on Instagram
Or you can email me at ourwishfultravel@gmail.com with any questions!
Ourwishfultrio has partnered with CardRatings for our coverage of credit card products. Ourwishfultrio and CardRatings may receive a commission from card issuers.
Ready to go? Get a list of the top 12 cards we recommend in year-one, with a step by step guide on when to apply.
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