3 Ways For Your Business Credit Card Approved

Posted by pak yons on Wednesday, November 7, 2012


If you run your own business, whether it's retail stores, direct sales, hobby shop or freelance consulting, chances are you've been thinking about getting a business credit card. It's probably a good idea because it makes it easy for you to separate business expenses from the cost of household, also helps keep documents organized and simplifies things at tax. When you are ready to apply for a business credit card, follow the checklist below:

1. Select a card
Some cards offer special deals, financing or rewards for small business owners. For example, some cards offer you a percentage of cash back for everything you buy at certain stores, such as grocery stores or shop online. Other cards offer cash discounts when you use it in the supermarket, gas station or hardware store. If you are a frequent traveler, frequent flier or travel card may make you get the best and biggest. Choosing the right card depends on the type of business you operate.

2. Gather the necessary documents
You will need basic information about the company's financial situation, including your business name, tax identification number, business address, how long you have to be the owner, the number of employees, nature of business, annual average income of your business and the amount of the business' checking account. You also need to know the legal entity of your business as if it was a sole proprietorship, corporation, partnership, nonprofit, etc.

3. Fill out application
You can find credit card applications for virtually all types of business credit cards even though in most cases you can also receive the offer over the phone (a good idea if you have questions). Depending on your credit, you may have to provide additional documentation regarding the financial status of the business so be prepared to send by post or fax on request. After you fill out the application, approval can take anywhere from thirty seconds to a month.

To find business credit card information online, do a search on the Internet or check the major credit card company's site.

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