Editorial Disclosure: Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Applying for a business credit card, especially if it’s your first one, can be incredibly intimidating.
If you’re like most people you might have questions about what types of businesses qualify and business revenue requirements, as well as how to actually fill out the application correctly.
So, this guide’s purpose is to clear up any confusion about who can qualify for a business credit card and show why it makes good business sense to take advantage of the unique rewards that come with small business credit cards.
How to Apply for a Business Credit Card
Let’s get started by addressing some of the most frequently asked questions and misconceptions about getting a business credit card in the first place.
Do I Qualify for a Business Credit Card?
I don’t think I have a business. I don’t think what I do counts as a business.
It’s not uncommon to hear things like this when talking about business credit cards.
Even just the word business tends to be thought of in a classic sense, when in fact, it applies to large companies, small mom-and-pop shops, people with side hustles, and even independent contractors.
So it’s only natural to think you might not qualify for a business credit card.
But, you don’t have to think of the word business strictly in this traditional sense.
Your business doesn’t need to be a physical business like a shoe store or a restaurant. It doesn’t need an actual brick-and-mortar location. Nor does it need to be a large company or corporation.
Your business can be a side hustle or a part-time project. It can be something you do just sometimes, which means it doesn’t need to be your primary source of income.
The length of time you’ve had your business also isn’t a typical determining factor of whether or not you can qualify for a business credit card.
New businesses may want a business credit card for start-up costs just as an established business may need to purchase supplies to complete an order or perform a service.
However, a business that’s been in existence has proof of revenue and expenses which works in its favor when applying for new lines of credit.
Luckily, though, this isn’t the only factor that determines approval for a business credit card application.
So, What Counts as a Business?
You can be a seller on Amazon or eBay or an Etsy artist and shopowner.
Maybe you have regular yard sales or you sell baked goods. Babysitting and dog-walking count as a business.
As a teacher, I would tutor on the side. This tutoring counted as a business, and I could use it to qualify for business credit cards.
Perhaps you own a rental property or just rent out your house or apartment. This real estate arrangement can count as a business.
- Do you offer a service?
- Are you a freelance writer or a consultant of some kind?
- Do you blog, design websites, or even work as a virtual assistant?
- Or maybe you’re a part-time driver or a coach.
All of these can be listed on business credit card applications.
Why Consider a Business Credit Card?
Business credit cards can be a great way to build a credit history for your business.
They open up new possibilities for travel rewards credit cards, as well as benefits that might not be typical of personal credit cards like bonus categories specific for businesses.
Using a credit card to pay for supplies and other things you need to run your business earns points and miles or cashback rewards that bring a return on your business costs that could potentially be invested back into the business or yourself for some much-needed R&R to maintain a healthy work-life balance.
Perhaps you’re a freelancer who needs to travel to clients. A travel rewards business credit card can help you keep your business expenses separate while at the same time helping you earn miles and points for your paid travel expenses.
Another great thing about business credit cards is they don’t count towards 5/24, which is good if you’re trying to lower your overall count.
Keep in mind, though, Chase business cards are subject to the 5/24 rule.
This means the bank will look at how many new credit cards you’ve gotten in the last 24 months as a determining factor for your business credit card application. However, if approved, the business card won’t add to your overall count.
For example, if you’re 4/24 and you apply for the Chase Ink Business Preferred, Chase will look at your overall card count in the last 24 months.
At 4/24, you’ll be ok. And, after you’re approved for the card, you’ll still be at 4/24 because the business credit cards won’t add to your 5/24 count.
How to Fill Out a Business Credit Card Application
Business credit card applications aren’t all that different from personal credit card applications. However, there are fields for important information about your business the bank will need to consider your application.
The #1 rule when filling out business credit card applications is to always be truthful and honest. It’s better to show small numbers rather than made-up numbers you can’t explain later on.
I’ve had to call the reconsideration line for a bank whose business card I had been denied. It can be a nerve-wracking experience and I can’t imagine having to be called out for untruthful numbers. (Luckily, I was able to get the card approved after answering a few questions.)
Beyond this, though, let’s take a look at a few of the information fields that are unique to business credit card applications and clear up any confusion.
Business Name
Your business name can be your own name. Again, if you’re consulting or tutoring, you are the business.
As a sole proprietor, there doesn’t need to be a formal name for the business. Even established businesses may still have a person’s name as their name.
Business Address
Your business address can be the same as your home address. If you’re consulting or do remote computer-based work from home, for example, you won’t have a business address and that’s ok.
Tax ID Number
The business can be just you. Having a business doesn’t mean you have a team of people that work with you. On business applications, you can list yourself as a sole proprietor and use your social security number instead of an EIN, or official tax ID number.
An EIN is issued once a business becomes incorporated or an LLC. It’s not a requirement for business credit card applications.
Business Revenue
Some of the most commonly asked questions about business credit card applications are about revenue.
- Do I need to show a business income?
- Is it ok if my business makes just a small amount?
- What if my business hasn’t made anything yet or is just starting up?
The short and simple answer is each bank is different.
In normal financial times, most banks don’t require your business to have made any money. Nor do you need to have a certain amount of revenue from the business.
However, in times of financial turmoil, banks look to mitigate their potential losses.
Business credit card applications could be looked at much closer and banks could prefer a business that’s already up and running.
For example, Chase made changes in 2020 to its business applications. It now states, “Annual business revenue can no longer be zero.” However, this was temporary and a reflection of the times.
No matter what, though, be honest with yourself and the bank. Business credit card applications will ask how much money your business has made and your total annual income.
For sole proprietors, banks will look at your personal credit information and your total household income as a way to safeguard the business line of credit. Meaning, you personally are responsible for any money owed even if a business no longer exists.
Banks like Chase may even require you to log in to an existing account you have with them or have a business checking account with sufficient funding.
It is also ok to project the revenue the business will make.
This is helpful for businesses that are in their first year and don’t have annual revenue totals from previous years. However, if the bank has more questions for you after you submit the application, you may need to explain your estimate.
And remember, business revenue doesn’t necessarily mean profit. New business owners and banks alike know all too well how important it is to invest earnings back into a business to fuel more growth.
I wasn’t Instantly Approved…Now What?
Sometimes, banks just want additional information. But especially if it’s your first business card, you may not be automatically approved.
It’s not uncommon for a bank to want some additional information or even have an additional requirement to approve the application.
If after a couple of days you haven’t heard back, you may want to call the bank’s reconsideration line to see if there’s any additional information you can provide.
If you get a rejection letter, call the reconsideration line to discuss the reasons you weren’t approved.
There may just be a few verifications needed to reverse the decision. In some cases, you may need to establish a relationship with the bank first.
For example, you can open up a business checking or savings account and reapply once this is established.
Either way, it’s ok to say you’re just starting up and you need to fund some start-up costs.
If asked, it’s ok to explain you’d like to keep business expenses separate from your personal expenses. It’s certainly ok to need an additional way to purchase supplies, services, and equipment.
You may even need to travel more frequently for business and anticipate flying or staying with a particular airline or hotel more often, which could potentially make a co-branded airline or hotel credit card a smart decision for your business costs.
Best Business Credit Cards
Chase business credit cards include valuable Ultimate Rewards earnings cards and co-branded cards with United, Southwest, and Marriott.
When you submit an application, Chase will look at your complete credit history and household income, not just business revenue.
And even though business cards don’t add to your 5/24 count, they are subject to the rule. So, you’ll want to make sure you’re under 5/24 before applying.
It’s also a great plan to include a Chase business card as one of your first 5 travel rewards credit cards.
Chase also seems to like it when business card applicants have an existing connection to the bank.
There’s no one right answer, but having a bank account or even a personal credit card with Chase may be helpful.
In my case, many years ago I was initially denied for my first Chase business card, but once I established a Chase business checking account, I was immediately approved.
I also recommend waiting for the Chase decision letter before calling in.
ProTip: If you have Chase personal credit cards with high credit limits, consider lowering these limits at least a month before applying for a Chase business credit card.
In addition, if you’ve moved or changed the address on your Chase account in the last 6 months, you might not be immediately approved simply for security fraud protection.
Top Chase Business Credit Cards:
Ink Business Preferred® Credit Card
Current Welcome Bonus: Earn 100k bonus points after you spend $8,000 on purchases in the first 3 months as a cardholder. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards(R)
Favorite Card Features:
- 3x on travel, shipping costs, internet, phone & cable services, and advertising with social media sites and search engines on the first $150k in combined category spending
- No foreign exchange fees
- Transfer Ultimate Rewards points to airline and hotel partners like United, Flying Blue, and Hyatt
1.25 cents per point value (or 25% more value) if you redeem points for travel in the Chase Ultimate Rewards Portal - Member FDIC
Annual Fee: $95
Ink Business Cash® Credit Card
Current Welcome Bonus: Earn $900 after spending $6,000 in the first 3 months from opening your account.
Favorite Card Features:
- 5% on office supply stores and internet, phone & cable services on the first $25k in combined category spending
- 2% on gas stations and dining on up to a combined $25k in spending
- Paired with an Ink Preferred or Sapphire, the $900 welcome bonus becomes 90k Ultimate Rewards points that have access to valuable airline and hotel transfer partners like United, British Airways, Virgin Atlantic, and Hyatt.
- Member FDIC
Annual Fee: $0
Ink Business Unlimited® Credit Card
Current Welcome Bonus: Earn $900 after spending $6,000 in the first 3 months from opening your account.
Favorite Card Features:
- Earn 1.5% on all purchases with no spending cap made for your business
- Paired with an Ink Preferred or Sapphire, the $900 welcome bonus becomes 90k Ultimate Rewards points that have access to valuable airline and hotel transfer partners like United, Flying Blue, Virgin Atlantic, and Hyatt.
- Member FDIC
Annual Fee: $0
Southwest® Rapid Rewards® Performance Business Credit Card
Current Welcome Bonus: Earn 80,000 Southwest Rapid Rewards Points after spending $5,000 in the first 3 months from opening your account.
Favorite Card Features:
- 4x on Southwest purchases
- 3x on Rapid Rewards hotel and car rental partner bookings
- 2x on Rideshares
- 2x on internet, cable, and cell phone costs, as well as advertising purchases for social media and search engines
- Card perks include 4 upgraded boarding positions every year, when available for your travel dates
- Get 9k Rapid Rewards points each year you renew your card
- Member FDIC
Annual Fee: $199
Southwest® Rapid Rewards® Premier Business Credit Card
Current Welcome Bonus: Earn 60,000 bonus points after spending $3,000 in your first 3 months as a cardholder.
Favorite Card Features:
- 3x on Southwest purchases,
- 2x on rental cars and hotels booked through Southwest's partners
- 2x on rideshares
- 2 EarlyBird Check-ins per year
- No foreign exchange fees
- Each year on your card anniversary, earn 6,000 Rapid Rewards points.
- Use Rapid Rewards points to fly anywhere Southwest flys including Hawaii, Costa Rica, the Caribbean, and Mexico.
- Member FDIC
Annual Fee: $99
United℠ Business Card
Current Welcome Bonus: Earn 50,000 bonus miles after you spend $5,000 on purchases within the first 3 months of opening your account.
Favorite Card Features:
- Earn 2 miles per $1 spent on United(R) purchases, dining including eligible delivery services, at gas stations, office supply stores, as well as on local transit and commuting.
- Receive a 5,000-mile "better together" bonus each anniversary when you have both the United(SM) Business Card and a personal Chase United(R) credit card
- Earn 1 mile per $1 spent on all other purchases. Plus, get employee cards at no additional cost - miles earned from their purchases accrue in your account so you can earn rewards quicker
- $100 United travel credit each anniversary year after 7 United flight purchases of $100 or more
- No foreign exchange fees
- Enjoy a free 1st checked bag - a savings of up to $140 per roundtrip (terms apply), 2 United Club(SM) one-time passes per year, and priority boarding privileges.
- $100 United(R) travel credit after 7 United flight purchases of $100 or more each anniversary year
- Member FDIC
Annual Fee: $0 intro annual fee for the first year, then $99
American Express is good about helping business owners get started. They understand new small businesses will have little if any revenue just yet. Again, honesty about your personal income, business expenses, and revenue is the best path to success.
Their business cards include Membership Rewards earnings cards and co-branded hotel credit cards. Membership Rewards points, in particular, are especially valuable when transferred to their airline transfer partners.
Lastly, depending on the card, American Express business cards also come with perks like free employee cards and access to business management tools to help as your business grows.
Top American Express Business Credit Cards:
The Blue Business Plus® Credit Card from American Express
Current Welcome Bonus: 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate between 18.49%-26.49% thereafter.
Favorite Card Features:
- 2x American Express Membership Rewards points for up to $50k a year
- Add Amex Offers to the card to earn bonus points and statement credits for qualifying purchases
- Transfer Membership Rewards points to valuable airline and hotel transfer partners including Delta, Aeroplan, Virgin Atlantic, and ANA
- Terms Apply
Annual Fee: $0
American Express® Business Gold Card
Current Welcome Bonus: 70,000 Membership Rewards points after spending $10,000 in the first 3 months from your account opening.
Favorite Card Features:
- 4x on 2 bonus categories that make sense for your business on up to $150k in spending each calendar year. Choices include advertising, U.S. gas, restaurants, or shipping, flights booked directly with the airline, and technology costs involving cloud services and software.
- No foreign exchange fees (See rates & fees details)
- Transfer Membership Rewards points to airline and hotel partners like Aeroplan, Delta, ANA, and Etihad.
- Terms Apply
Annual Fee: $295
The Business Platinum Card® from American Express
Current Welcome Bonus: Earn 120,000 Membership Rewards points after spending $15,000 in the first 3 months of opening your account
Favorite Card Features:
- 5x the Membership Rewards(R) points on airfare and hotels booked & paid for in advance through AmexTravel.com
- 1.5x on each eligible purchase at U.S. construction materials, hardware suppliers, electronic goods retailers, shipping, software & cloud services, as well as on purchases of $5k or more
- $189 CLEAR(R) Plus Credit: Use your card and get up to $189 in statement credits per calendar year on your CLEAR(R) Plus Membership (subject to auto-renewal) when you use your Business Platinum Card(R).
- No foreign exchange fees
- Transfer Membership Rewards points to valuable airline partners like Aeroplan, Avianca, Delta, Etihad, and Virgin Atlantic.
- With the American Express Global Lounge Collection(R), get complimentary access to 1,400+ airport lounges across 140 countries and counting. You'll have more airport lounge options than any other credit card issuer on the market as of 03/2023.
- Get 35% of your points back when booking economy flights with your selected airline or on premium class flight bookings with any airline when you book through American Express Travel.
- Unlock more than $1,000 per year in statement credits on select purchases, including tech, recruiting, and wireless services.
- $200 Airline credit with your one selected, qualifying airline for incidental fees
- Terms Apply
Annual Fee: $695
The Hilton Honors American Express Business Card
Current Welcome Bonus: Earn 130,000 Hilton Honors Points after spending $3,000 in the first 3 months from your account opening. Offer ends 7/19/23
Favorite Card Features:
- 12x on eligible purchases made directly with Hilton hotels and resorts within the Hilton Portfolio
- 6x on U.S. gas stations, restaurants, cell phone service, shipping costs, flights booked with the airline directly, and rental cars booked with the car rental company directly.
- No foreign exchange fees
- Hilton Honors Gold Status
- Earn 1 free weekend night after spending $15k in a calendar year. Earn an additional free weekend night by spending an additional $45k in the same calendar year
- Terms Apply
Annual Fee: $95
Marriott Bonvoy Business™ American Express® Card
Welcome Bonus: Limited Time Offer! Earn 125,000 Marriott Bonvoy Points after spending $8,000 in purchases with your new card in the first 6 months as a cardholder. Offer ends 11/1/23.
Favorite Card Features:
- 6x the Marriott Bonvoy points per $1 you spend spend on eligible purchases at hotels in the Marriott Bonvoy(R) program
- 4x on dining worldwide, at U.S. gas stations, cell phone service from a U.S. provider, and U.S. purchases on shipping.
- Earn 2x on all other purchases.
- Get a 7% discount off standard rate reservations for standard guest rooms at hotels participating in the Marriott Bonvoy program by booking directly through Marriott. Terms and conditions apply.
- Get a Free Night Award after your annual renewal month at hotels participating in the Bonvoy program priced at 35k points a night and under. Plus, earn another Free Night Award after spending $60k on your card in a calendar year.
- Marriott Bonvoy points can also be transferred to 40+ airline partners and redeemed for award flights.
- Get Marriott Bonvoy Gold status as a cardholder
- Terms Apply
Annual Fee: $125
Capital One business credit cards come with high-powered earning potential at 2x/2% for every dollar spent. This can be a great way for businesses to get a significant return on their costs.
Compared to other banks listed here, it can be a bit tougher to get approved for a business credit card with Capital One. Newer business owners will have less business history to show which may be necessary during a reconsideration call.
Also, as with their personal credit cards, Capital One pulls credit history from all 3 credit bureaus.
Top Capital One Business Credit Cards:
Capital One Spark Miles for Business
Current Welcome Bonus: Earn 50,000 Capital One Miles after spending $4,500 in the first 3 months from your account opening.
Favorite Card Features:
- 2x on all purchases with no spending caps
- No foreign exchange fees
- Transfer miles to Capital One's airline transfer partners like Aeroplan, Avianca, and Flying Blue or redeem them to erase travel purchases on your monthly statement.
Annual Fee: $0 for the first year, then $95 starting the 2nd year
Citibank partners with American Airlines for their travel rewards business credit card. Like other banks on the list, they are generally welcoming to new businesses that may or may not have business revenue.
At times, reconsideration may be needed just to verify the business details.
Top Citibank Business Credit Cards:
CitiBusiness AAdvantage Platinum Select Mastercard
Current Welcome Bonus: 65,000 American Airlines miles after spending $4,000 in the first 4 months from your account opening.
Favorite Card Features:
- 2x on American Airlines purchases, cell phone, internet, cable, and satellite services, as well as on gas and rental car costs.
- Earn 1 Loyalty Point for every 1 eligible AAdvantage mile earned from purchases
- No foreign exchange fees
- 1 free checked bag on all domestic flights
Annual Fee: $0 in the first year, $99 in the second year
Business credit cards are not just for big businesses or even what might be thought of as a traditional business.
Business credit cards for new businesses, freelancers, and even part-time, independent contractors are all possible.
Having a line of credit for your business helps you organize your expenses and purchase what you need to grow your business.
Best of all, these business costs return value in the form of valuable travel rewards.
What are your questions about applying for a business credit card?
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