- Platinum Member
- Posts: 93
- Joined: Wed Aug 17, 2011 10:53 pm
- Location: USA
I own the Costco True Earnings business credit card for my one man band multimedia creative communications studio where I offer services for web design, graphic design, copywriting, and other forms of creative communications. Even though I am a sole proprietor, I opened up the account under an EIN and a legally registered business name and so my card activities are actually reported to the business side of credit bureaus and my personal credit reports have nothing of my business listed.
To my understanding, you can get a business credit card without having an EIN because the card company assumes you're a sole proprietor/operating under your own name, but if you try to do business-related tax-related stuff without actually owning and operating your own business and try to use your non-business-related spending on your "business" card to back your claims up, you're in for a world of trouble if you get yourself audited.
That said, I wonder what the credit companies think when they see people's credit reports showing all these non-existing in-name-only businesses being reported. I mean, the business credit card shows your business name as an alias, right? So wouldn't that alias show up on your personal credit report as well since that was the name you applied under (if you applied under a fictitious business name and under your own social security number?)?
AMEX: Everyday (MR), Macy's (cobranded)
MASTER: Citibank Dividend Platinum Select (non-World version)
VISA: Chase Amazon Signature, Chase (bank issued)
GE: Care Credit (medical expenses), Macy's (store), JCP (store)
AMEX: Costco True Earnings
VISA: Chase Ink Cash