summerdayshopping

In my case, usually auto-approve. However, I applied one last week, did not approve right away. I checked the status online the next day, it was already approved.

bugjuice11

i only tried once 1 year ago. barclays was not impressed with my answers about my ebay upstart. So nice to hear there may be hope.

bobert24

This may seem pretty obvious, but I've seen some less than straightforward posts on the subject that make me not sure:

Can more than one person apply for the same card for a business, and both get the signup bonus?

Example:
Say I've got a 2-member LLC. Can I apply for, say, the Ink Plus for that LLC, and the other member still be eligible to apply for an Ink Plus for that LLC, but under their name instead of mine?

I'm pretty sure the answer is no, but lots of other less logical things seem to be ok.

But on the other hand, one person can get the same card for multiple businesses, right? So if I have 2 different LLCs, I could get the same card for myself for both of them.

Sorry, that's been eating away at me since I first saw some confusing information about it a year or two ago.

Flaneurs

I will only speak to the second part of the question. You can absolutely have the same card for more than one company. I have three LLCs and an S corp that all have the same product in my name. Chase particularly seems to want to limit company credit based on personal exposure so sometimes I need to jockey around the credit limits to open a new card for a company.

bobert24

Ok, I thought that was the case, but wanted to make sure. Thanks.

If anybody has any insight on the first question, it would be greatly appreciated. The lack of response makes me wonder if it's not quite as straightforward as I thought.

mia

In the USA, small business credit cards are essentially personal credit cards for business purposes. The individual who applies is 100% responsible for the debt, but because the card is used for business it is exempt from most consumer protection legislation. (Corporate cards are different than Business cards. Eligibility for a Corporate card is based on the size of the business, not the legal form.)

Card issuers vary in their policies for allowing the same individual to open multiple identical cards -and- in awarding new account bonuses if they do permit it. American Express will let you open multiple cards, but these days you will only be eligible for one new account bonus because you, not the business, are the applicant.

GrayAnderson

So, I'm working with a friend who is getting a small business up and running and we're looking at a whole variety of options as far as credit cards for the company. The basic question, though, is how to proceed...

If we get a card for the company, the company is small enough/has little enough history that it will likely be a glorified personal card resting mostly on my personal credit, albeit on a segregated account in the company's name. The main benefit would be the ability to get a higher credit limit.

If we just go with "Have me use my credit card", we'd set things up so that I carry out a purchase and get a reimbursement almost immediately. The credit limit would be lower, but likely not catastrophically so, and if things did become problematic we can pursue the company card option later.

One other question: Regardless of which path we pursue, which card has the best "generic airline ticket" earning bonuses? I seem to recall at least one CC that gets 2 points per dollar for direct-buy airline tickets. Yes, I know any one airline's card will theoretically be better (and would be used if we use that airline), but a lot of the expenses are going to be airline ticket purchases.

plenow

Regardless of credit limits, miles, etc. Highly recommend separate personal and business cards.

mia

All small business credit cards are based on the credit of, and personally guaranteed by, the individual applicant. The new company itself won't have credit.

darthbimmer

The short list of cards I'd consider for a business incurring travel costs without wanting to be tied to a specific airline or hotel chain are:

Chase Sapphire Preferred
Chase Ink Plus
Barclay Arrivals+
Citi Double Cash

You'll want to do you own research to determine which works best for your particular situation.

FriscoHeavy

People really make this much more difficult than it needs to be.

Business cards are backed up by a personal guarantee (social security number). You don't need to have a checking account, etc.

It doesn't matter how long the business has been open.

Just make up something: "5 years a financial consultant and I have 3 employees working for me". Again, you are personally guaranteeing it. Then just come up with a business name to list on the card -- it doesn't matter what it is.


I ONLY use my United MileagePlus Club Business card for all purchases since it doesn't show up on my credit report (unless I default).

Apply away for business cards folks.

pritomd

Can you sign up for business credit cards without owning a business? Is there a risk if you can?

bigshooter

Yes, yes if you get reviewed.

mike2200

Is your question can you or do others? What kind of risk do you mean?

pritomd

I don't own/run any businesses, but wondering if this excludes me from getting business credit cards.

Risk meaning somehow negatively affecting my credit score or something else tied to my identity (social) if I claim to have a business but I really don't.