Hello,
Based on some advice I found, I applied for a business cc with a sole proprietorship named "[last name] and associates". I was rejected by the company for not having proof of said business. I am thinking about reapplying for the same card (bummed about getting a second hard inquiry) with just [full name] as the business title. Is this safe to do, or will I just get rejected again? FWIW, my credit is ~760 and from I've seen on the threads that's more than sufficient for this card.

Your "doing business as" filing with your state's corporations division (whatever name it has) ought to do the trick for the card company. You should also check with your tax attorney / CPA before doing business under a name other than your own, that is "John Smith Company" as opposed to "John Smith." There can be serious consequences and every situation is different. Not something to rely on web site postings for advice.

It may be useful to state which bank rejected the application, and whether you are U.S. based or elsewhere.

Hi,

For some reason, businesses think if you have an EIN or employer identification number, you are much more likely to be a real business. It is IRS form SS-4, and is a simple one page form. If you don't have employees, you can tell them you are planning to get some next quarter.

Works on many levels, not just credit card issues. It also has the benefit of not having to give out your social security number to people whom you are doing business with. Might prevent identity theft.

Also, give your business name a few minutes of thought. Joe Shmo and associaties is common and trite. A business name should be distinctive, descriptive, and memorable. It is a valueable marketing tool, don't short change it with the most basic of names.

Hope that helps...good luck!

Alex

You don't need to have employees or even be planning to get some. You need one to have a Keogh retirement plan (or for any of several other less common reasons, such as filing an Alcohol/Tobacco/Firearms tax return). You don't need to have the Keogh plan to get the EIN: it's the other way around, you need an EIN to set up the plan. Once you have the EIN, nobody is going to force you to set one up.

I simply wrote a letter to the issuer explaining my plans for my start-up consulting business, based on my actual experiences and qualifications, and what I planned to do with the business, including why I needed a business credit card separate from my personal accounts. The business has the same name as my personal name. I also have an excellent credit rating and got the card with no problem. I'd suggest printing off the application, enclosing the letter and doing it by mail, so a real human looks at it. It worked for me, anyway.

USA based. Citibank.

Efrem,

Point is that it easy to get a EIN. I have helped hundreds of people do it, and sometimes the "gobmint" workers want to hear that you are going to be an employer at some point. Your point may be valid, but my way avoids additional correspondence with the IRS.

Alex

You haven't provided any proof that you are a business. Business cards are for businesses. An EIN is enough, but you can also form an LLC or S corporation on the Internet quickly and cheaply. Just claiming to the bank that Joe Jones is a business, not a person, is insufficient.

My Citibank biz cc, I had no problem using my nickname as the business name "davef139". I heard Citi has been clamping down quite a bit tho.

What you're saying makes sense, and if I was the bank I would definitely go by this rule. But from what I gather in the forums, most people without a business were still able to be accepted for the citi aa 75k bonus whereas I was not. Im hesitant to open an LLC or a corporation because of possible financial aid implications in my school.

Right now I guess my question is should I apply again using just my name, or just let the offer pass by without another hard inquiry on my report (this would be my 4th in 6 months)

If you are still in school, three or four hits in six months is too many. You would likely be denied on that basis as much as lying about being a business. If you are still dependent on financial aid, meaning you're not earning enough money to support yourself and your schooling, that counts against you also. We had a poster here awhile back who was miffed that his in-college daughter was being denied a fourth or fifth credit card despite having no income or ability to pay her bills. He was looking for sneaky strategies to get her the additional card anyway. That kid's credit report must have been a train wreck. Imagine having all those black marks on your record before you even enter the workforce.

Once you get an EIN, don't you also have to register with the State you are in to pay state taxes and start paying medicare and social security taxes to Feds right?

Only if the business has revenue (S corp) or you derive income from the business (LLC).

Is there a threshold of income above which one must start paying taxes/register with state?