Business credit cards can provide an array of benefits, from easier separation of personal and business expenses to higher credit limits, potentially more useful bonus categories than some personal cards and more.
Oftentimes, being approved for a business credit card may be easier than you think. You may still be eligible if you're just working a side hustle or have another way of making additional cash and don't have a formally registered business.
CNBC Select walks through everything you need to know about who can qualify for a business credit card.
What we'll cover
Can you get a business credit card without a business?
It is possible to open a business credit card without a registered business like an LLC or a corporation. Any independent work you do that generates income (or intends to) can make you eligible for the top business credit cards.
Here are some examples of nontraditional ventures, side hustles and profitable hobbies that card issuers could consider legitimate businesses:
- Selling products online
- Babysitting
- Dog walking
- Tutoring
- Rideshare and delivery driving
- Owning or managing a rental property
- Graphic design
- Freelancing part-time
- Personal training
Although not a requirement, an easy way to determine whether you may be eligible to apply would be if you get a 1099 for the work that you do instead of a W-2.
While you don't need a physical location for your business or multiple employees to get a business credit card, there are some other stipulations that you need to meet.
Find the best credit card for you by reviewing offers in our credit card marketplace or get personalized offers via CardMatch™.
What do you need to apply for a business credit card?
The process of applying for a business credit card is similar to applying for a personal one, but you'll need to provide some additional information about your business, including its name, annual revenue (or estimated revenue), type of business and more. Card issuers generally also ask for an employee identification number (EIN), but if you're a sole proprietor, you can generally provide your social security number instead.
As with personal cards, credit scores are an important factor in determining eligibility for a business credit card. Issuers may consider your personal credit score if you don't have a business credit report. According to Experian, most small business credit cards are geared towards people with an average credit score of 670 or higher, which means "good" credit or higher based on the FICO scale.
Choosing a business credit card
There are business credit cards that cater to an assortment of needs and budgets. CNBC Select has many lists that can help you find the right card for you, including lists of the top business credit cards with no annual fee, business credit cards for bad credit and easiest business credit cards to get approved for.
The Ink Business Preferred® Credit Card (see rates and fees) is a top choice for small businesses that want to earn travel rewards on common business expenses, such as travel; shipping purchases; internet, cable and phone services; and advertising purchases with social media sites and search engines. The card comes with a modest annual fee of $95 and and provides helpful perks, such as no foreign transaction fees, auto rental collision damage waiver and cell phone protection.
The Ink Business Preferred® Credit Card is an excellent business card with useful benefits, valuable rewards and a generous welcome bonus.
- Earns flexible travel rewards you can transfer to airline and hotel loyalty programs such as World of Hyatt, Southwest Rapid Rewards and many more
- Valuable welcome bonus worth $1,125 in travel when redeemed through Chase Travel
- Strong travel and shopping protections
- No intro APR offer
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn 100k bonus points after you spend $8,000 on purchases in the first 3 months from account opening.
- Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
- Earn 5x total points on Lyft rides through 9/30/27.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open
- Go further when you book with Chase TravelSM. Enjoy competitive rates, seamless booking and premium benefits.
- Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Receive complimentary access to DashPass by DoorDash.
- Member FDIC
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
There's The American Express Blue Business Cash™ Card, which offers a $0 annual fee (see rates and fees) and a 0% intro APR for 12 months on purchases from the date of account opening (then 16.74% - 28.49% variable APR applies. APRs will not exceed 29.99%; see rates and fees). The card also provides Expanded Buying Power, allowing you to spend beyond the card's credit limit. It's important to note the amount you can spend above your credit limit is flexible, so it adapts with your use of the Card, your payment history, credit record, financial resources known to American Express, and other factors. Just remember, the amount you can spend with Expanded Buying Power is not unlimited.
The American Express Blue Business Cash™ Card is an ideal fit for a growing business because it offers an intro APR for purchases and a generous cash-back rate.
- Valuable intro-APR offer for purchases for 12 months
- No annual fee
- Additional cash back is capped
- It has a foreign transaction fee
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 16.74% - 28.49%, based on your creditworthiness and other factors as determined at the time of account opening. APRs will not exceed 29.99%
- Earn 2% cash back on all eligible purchases on the first $50,000 of purchases each calendar year, 1% thereafter. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That's why you've got the power to spend beyond your credit limit with Expanded Buying Power*.
- * The amount you can spend above your credit limit is flexible, so it adapts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors. Just remember, the amount you can spend with Expanded Buying Power is not unlimited.
- No Annual Fee. Terms Apply. Learn More.
- See Rates & Fees
Balance transfer fee
Refer to Terms and Conditions
Foreign transaction fee
2.7% of each transaction after conversion to US dollars.
FAQs
Can business credit cards affect personal credit?
Your business credit card behavior can affect your personal credit score. Any business credit card activity that ends up on your personal credit report will have the same impact as any other credit activity.
What is the best credit card for small businesses?
The best small business credit card depends on your needs. The Ink Business Preferred® Credit Card is a popular choice for earning travel rewards thanks to its useful bonus categories, while the Ink Business Unlimited® Credit Card and *Capital One Spark Cash Plus*Capital One Spark Cash Plus are useful for those looking to earn rewards in the form of cash back.
Can you get a business credit card if you're not earning income yet?
It is possible to qualify for a business credit card without having any revenue yet.
Can you use a business credit card for personal purchases?
While it's not illegal, using a business credit card for personal expenses may go against the terms and conditions of your card agreement and could result in your account being closed.
Bottom line
Whether you're a solo entrepreneur or CEO of a large corporation, you could benefit from business credit cards. You can apply for a business card as long as you have a for-profit venture, even if it isn't formally registered yet.
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Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card guide is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
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*Information about the Capital One Spark Cash Plus has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.
For rates and fees of the The American Express Blue Business Cash™ Card, click here.
