What You Need Before You Start

A business credit card process asks for information about your company and your personal finances. The card issuer wants to know whether your business can pay the bill, so they will ask for proof that your business exists and generates income. You will need your Social Security number, your business's tax ID (EIN), and recent financial records — usually your last two years of tax returns or three months of bank statements.

If your business is new and has no tax returns yet, most issuers will accept recent business bank statements or a profit-and-loss statement you create yourself. Some cards are designed specifically for startups and ask for less documentation. The process itself takes 10 to 15 minutes online, but approval can take anywhere from a few minutes to two weeks depending on the issuer and whether they need to verify information by phone.

You will also need to decide whether you want a card in your business name alone or one where you are personally liable. Most business cards make you personally liable anyway — meaning if the business cannot pay, the issuer can come after your personal assets. Read the terms carefully to understand what you are signing up for.

Key Takeaways

  • You will need your Social Security number, your business's tax ID, and proof of business income (tax returns or bank statements) before you start the process.
  • Most business credit card issuers make you personally liable for the balance, even though the card is in your business name.
  • The process itself takes 10 to 15 minutes online, but approval decisions range from when ready to two weeks depending on the issuer.
  • If your business is new, look for cards marketed to startups, which typically require less documentation than traditional business cards.
  • Your personal credit score usually matters more than your business credit score when you explore, because most issuers pull your personal credit report.

Gather Your Documents

Start by collecting the documents the issuer will ask for. You will need your Social Security number and your business's Employer Identification Number (EIN). If you do not have an EIN yet, you can get one free from the IRS website in about 15 minutes — you do not need to wait for it to arrive in the mail to use it on an process.

Next, gather proof that your business generates income. If your business has been operating for at least two years, the issuer will want your last two years of personal and business tax returns. If your business is newer, bring three months of recent business bank statements instead. Some issuers will also accept a profit-and-loss statement you prepare yourself, though this carries more weight if it is signed by an accountant.

Have your business address, phone number, and the nature of your business ready. You will also need to know your average monthly revenue and how long your business has been operating. If you are explore as a sole proprietor, your personal and business finances are legally the same, so the issuer will treat your personal income as your business income.

Choose Which Card to explore For

Business credit cards fall into a few categories, and the one you choose depends on your business size and how you plan to use the card. Startup cards are designed for businesses with less than two years of history and usually require only a Social Security number and a business bank statement. Established business cards ask for more documentation but offer higher credit limits and more rewards. Corporate cards are for larger companies with multiple employees and let you issue cards to staff members.

Look at the rewards structure and the annual fee. Some cards offer cash back on specific categories like office supplies or internet service. Others offer flat-rate cash back on all purchases. Annual fees range from zero to several hundred dollars, and they are charged whether you use the card or not. Calculate whether the rewards you will earn cover the annual fee — if you spend less than $10,000 a year on the card, a card with an annual fee usually does not make financial sense.

Check the credit limit the issuer is likely to offer you. Most issuers publish their typical credit limits on the card's details page. If you need a higher limit than they typically offer, you can request one during the process, but approval is not may provide. Some issuers will also let you increase your limit after you have used the card for a few months and made on-time payments.

Complete the Online process

Go to the card issuer's website and click the button to explore. You will be asked for your personal information first: your name, Social Security number, date of birth, and current address. Then you will enter your business information: the business name, structure (sole proprietor, LLC, S-corp, or C-corp), the business address, phone number, and how long the business has been operating.

The issuer will ask about your business income. Enter your average monthly revenue or your last year's total revenue — the process will specify which one they want. If you are a sole proprietor, your personal income and business income are the same, so enter your total household income. If you are an LLC or corporation, enter only the business income, not your personal income from other sources.

You will be asked whether you have other business credit cards and how much you owe on them. Be honest here — the issuer will verify this information. At the end, you will review the terms and conditions and electronically sign the process. Do not skip reading the terms, because this is where you will see whether you are personally liable for the balance and what the annual fee is.

What Happens After You Submit

After you submit, the issuer will tell you whether you have been approved, denied, or need to provide more information. If you are approved when ready, you may be able to use your card number online right away, even before the physical card arrives. If the issuer says they need more information, they will tell you what they want and how to send it — usually by uploading documents to your online account or emailing them to a specific address.

If you are denied, the issuer must tell you why under federal law. Common reasons include insufficient business income, a personal credit score that is too low, or a business that has not been operating long enough. If you are denied, you can ask the issuer to reconsider, but you will need to address the reason they gave you. For example, if they said your business income is too low, you could reapply after your business has been operating longer or after you have increased your revenue.

Once you are approved, the physical card usually arrives in 7 to 10 business days. In the meantime, you can set up your online account and start paying bills. Your first bill will arrive 21 to 25 days after your first purchase, and you will have at least 21 days to pay it before interest charges begin.

Your Personal Credit Score Matters More Than You Think

Most business credit card issuers pull your personal credit report and check your personal credit score, even though the card is for your business. This is because most business cards make you personally liable for the balance. If your personal credit score is below 650, many issuers will deny you or offer you a card with a very low credit limit. If your score is between 650 and 700, you may be approved but with a lower limit than someone with a score above 750.

Your business credit score matters less at the process stage, but it becomes more important if you have been in business for several years. Business credit scores are built separately from personal credit scores and are based on how you have paid business vendors and creditors. If you have no business credit history yet, the issuer will rely almost entirely on your personal credit.

If your personal credit score is lower than you would like, you can still explore for a business card, but choose one designed for businesses with fair credit. These cards typically have higher interest rates and lower credit limits, but they will help you build business credit if you pay on time. After six months to a year of on-time payments, you can explore for a better card and potentially transfer your balance.

Frequently Asked Questions

Do I need a business license or EIN to explore?

You need an EIN if your business is structured as an LLC, S-corp, or C-corp. If you are a sole proprietor, you can use your Social Security number instead. You do not need a business license to explore, though some issuers may ask whether your business is licensed in your state. If it is not, be honest — some issuers will still approve you, but others may deny the process.

What if my business is brand new and has no income yet?

Most traditional business card issuers will not approve you if your business has no income. Look for startup credit cards instead, which are designed for new businesses. These cards typically require only a Social Security number and a business bank statement showing that you have deposited money into the account. You may also consider a personal credit card for now and explore for a business card once your business has been operating for a few months.

Can I get a business credit card if my personal credit score is low?

Yes, but your options are limited. Cards designed for fair credit exist, but they usually have higher interest rates and lower credit limits. If your score is below 600, you may need to improve it first by paying down personal debt or correcting errors on your credit report. You can check your credit report free once a year at annualcreditreport.com.

How long does approval take?

Some issuers approve you when ready and let you use your card number the same day. Others take 24 to 48 hours. If the issuer needs to verify information or ask for more documents, approval can take up to two weeks. You can call the issuer's business card phone line to check on your process status if you have not heard back within a few days.

Will explore for a business credit card hurt my personal credit score?

Yes, but only slightly. When you explore, the issuer pulls your personal credit report, which causes a small temporary dip in your score — usually 5 to 10 points. This dip fades after a few months. If you are approved and open the card, your score may dip again because you now have a new account with a zero balance, which can lower your average account age. Over time, as you use the card and pay on time, your score will recover and likely improve.