Business Cards
 

I am about to open a few different small businesses and wanted to know if anyone had any knowledge about applying for multiple business cards with large signup bonuses. It seems to me that if I obtain a unique Federal Tax ID (FTIC) for each business I can apply for multiple cards. So a few of the questions I had were:

- How does the cc check credit on a new business if using a FTID?
- Can you link multiple business' points accounts?
- Will this effect my personal credit at all?

Any other thoughts?

I am new here and also wanted to say thanks for all the advice and help I have already received from everyones posts!

-b

Some issuers have changed and others will be changing over the next 6-9 months as Dodd Frank consumer protection issues hit home. Issuers now need to do a better job of assuring that when an application is received for a business card, that it really is a business and not an individual. Individuals get a vast array of consumer protections, but not businesses.

For your purposes, the Tax ID # and whatever certificate you have from the jurisdiction in which the business operates (all depending on whether the businesses are corporations, partnerships or sole proprietorships with a simple DBA) will likely suffice.

However, remember, business credit card now means relying on the credit of the business. No established credit for the specific business means a much tougher time getting a card and getting a credit limit which is manageable.

It seems like every Business Application still requires an individual SSN as well. Do you know if this is for credit checks or something else? Will they still hit my personal credit?

Yes, it will result in a hard pull.

A business with no history will have zero chance of qualifying on its own credit. I'd say 90-99% of business cards issued are based on the credit history of the individual owner and not the business itself. Therefore, for qualification purposes you might as well consider it just like an extra personal card.

Also, take a look at this thread. http://www.flyertalk.com/forum/credi...nal-cards.html

Biz cards are not all roses.

If I understand correctly, your credit score will still be used as the basis for approval. However, I think the amount of the credit lines that become available to you will become larger if you open a business account. Some of the credit underwriters don't seem to connect your personal credit line totals with a business credit line total.

Please report back and let us know what you find!

I have an incorporated business for 20 years with sales of $2M+ a year. It has been my experience that when I apply for a "business" credit card it results in a personal hard credit pull, even when they ask for my corporate FIEN on the application. My credit report does not reflect the business cards other than the initial hard pull.

What's the worst that can happen if applying for a business card without a business?
 

Just got the AA Citi biz card approved last night and thinking of gettign my wife one. I'm self employed, but she has a job. What's the worst case scenario that could happen if Citi questions her?

Thanks!

Worst case scenario is Citi refusing to approve her application for the card. Well worth the risk for 75K+ miles IMO.

I'm assumming that all info on her app will be truthful. Have her apply as a Sole Proprietor using her SSN# (in lieu of an EIN or Tax ID #).

^

That's about it.

Great, thanks!
Should I put down her actual income or $0?

May be a related question
 

Can I open a business checking account without an actual business? What should I put the business name as?

- naroowal

Yes, you can. Just use your own name. Be careful, as large transactions could cause IRS scrutiny.

Why would you put down an income of $0? Is it for some strategic reason?