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Business Credit Cards That Are Easy to Get

September 15th, 2009

easy-business-credit-cardsWhether you are a new or established business owner, getting business credit cards is fairly easy if you know the right methods and have the proper documentation in place. Most of the time, it also does not matter if the business owner has personal bad credit. By following a few simple steps, you can get several business credit cards in the near future.

Before applying for any kind of credit, make sure you have a business license. Many people who run at-home businesses do not have one, but when it comes to being a legitimate entrepreneur it is a necessary first step.

Once you have that document in place, you will want to get incorporated. There are a number of Web sites that make incorporation much easier than it once was for new business owners, and do not require the services of an attorney or a paralegal. This usually costs a couple of hundred dollars, but is necessary legal protection and required by virtually every bank or finance company to extend business credit.

After incorporation, visit the Internal Revenue Service Web site to get an Employer Identification Number (EIN). This is sort of a business Social Security Number, but can only legally be used for business purposes. Many credit repair sources advocate using the EIN in place of your Social Security Number for personal credit card applications, but this is illegal. Use your EIN for your business credit affairs and your Social Security Number for personal credit matters.

You will also want to try to get a business telephone number listed in 411 to expedite your credit card application process. A personal home or cellular phone number is still fine, but contacting your provider to get a business listing makes credit verification a lot easier. Also, do not use a Post Office Box or private mailing service for a business address, because most credit applications will flag your query as possibly fraudulent. It is safer to use a home address if you run your business from your residence.

Once these steps are in place, the best cards to apply for are Staples and Office Depot. You can also try to get net-30 accounts from vendors such as Quill, ULine, and Gemplers. Net 30 accounts send goods in advance, but unlike credit cards require full payment within 30 days. Remember that business credit runs differently than personal credit, and that making a payment even one day late could create a black mark on your company’s credit profile. Once you have established some credit through office supply cards and net-30 accounts, slowly start applying at gas stations and department stores such as Home Depot. Within six months to a year, your business should be able to easily acquire almost any credit product it needs without involving your personal credit or finances.

Stephanie Mojica has supplied us with this article through DailyArticle.com.

One Response to “Business Credit Cards That Are Easy to Get”

  1. comment number 1 by: Bernie

    What if you only have an online business and only have a p.o. box address, how do you handle obtaining business credit under these circumstances?

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