Applying for Business Credit Cards with an EIN
Do you plan on applying for business credit cards with an EIN?
In today’s post we’re going to go over the top ten factors that impact the approval process and size of credit limits you can acquire with our business credit card funding program.
This particular program requires that your company have an employer identification number issued, also known as an EIN. Although the banks require a personal guarantor; at the credit reporting level, none of the activity or cards issued under this program report to your personal credit reports.
Basically, you are leveraging the strength of your personal credit so the company can acquire its own business credit cards under its EIN. Think of it as co-signing for your business without it impacting your personal credit reports.
Once the cards are issued to your company under its EIN, the bank card issuers will report your card activity to business credit reporting agencies such as Experian Commercial and/or Equifax Small Business.
Remember, the ‘dividing line’ between business and personal credit cards must be established at the credit reporting level in order to legitimize true business and personal credit separation.
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