Can You Apply For a Business Credit Card If You Don't Have a Business

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kidrock
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Can You Apply For a Business Credit Card If You Don't Have a Business

Postby kidrock » Thu Oct 31, 2013 4:56 pm

Question: I've noticed that some of the business credit cards have much better reward programs and bonuses than their personal counterparts. For example the Ink Cash offer I saw let's you earn a $200 bonus. Compare that to the Freedom which does not last I looked. The categories for extra points are much better IMO on the Chase Ink versus Freedom too. If you don't have a business can you apply for a business credit card like the Ink?

Mind you I want to follow the rules. Please don't give me advice if it's sketchy. All I want to do is know I am allowed, legitimately, to apply for one of these even though I don't have my own company. I am an employee for someone else and that is where my paycheck comes from.


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djrez4
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Postby djrez4 » Thu Oct 31, 2013 5:00 pm

The rules say no.

However, if you have even the slightest hint of a business - consulting on the side, selling on eBay, whatever - you can use your social security to apply for one. Banks like issuing business cards because they're not covered by the CARD Act and have fewer protections for the cardholder.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
[/RIGHT]

kidrock
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Postby kidrock » Thu Oct 31, 2013 5:07 pm

Thanks for the quick answer. Are you saying even if I only sell on eBay or Craigslist occasionally, that qualifies me to apply for a business card? B/c earlier this year I did sell some stuff online when I moved and I will sell some stuff in the future too but I certainly wouldn't consider doing that my full time job lol.

Is there a certain threshold of income you have to be making outside your job in order to apply?

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otter
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Postby otter » Thu Oct 31, 2013 8:33 pm

Do you plan on using your business credit card for activities relating to your business (ie selling on eBay or Craigslist)? Because most of the business credit cards' agreements require you to use the cards exclusively for the business. not personal use. Just sayin' since you say you want to follow the rules...
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

whit
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Postby whit » Thu Oct 31, 2013 11:13 pm

no, if you don't have a business you can't apply for a business credit card per rules

if you do selling off eBay/craigslist and it's enough to be a business so you have to pay taxes (by charging your clients taxes, like Linda's stuff)

then you report that income on your tax return then yes.

whether it's sole prop, llc, partnerships, s/c corps..whether you're operating on own income tax or ein.

some people may be able to skate by, sketchy stuff as you said

I've just personally seen people with EIN tax, business new, need verification of EIN from gov in form of ss4 form or that c something note..otherwise their approved card gets closed or the application doesn't get approved, stuck on limbo until 30 days are up and the info isn't presented then it's kinda like..rejected..and of course the biz address has to be on the letter and match the biz address on file

takeshi
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Postby takeshi » Fri Nov 01, 2013 10:37 am

kidrock wrote:All I want to do is know I am allowed, legitimately, to apply for one of these even though I don't have my own company.

You can answer your question for yourself. Read the terms of the card(s) you're considering. If unclear after reading the terms you need to refer to a qualified professional versus asking for advice on a discussion forum.



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