Are you searching for a business credit card without SSN? If so, you may have come across some roadblocks.
There are plenty of business credit cards out there, but many traditional financial institutions require a Social Security number to obtain one. So even if you own a legal business in the U.S. with an ITIN, it can be a little more challenging for you to get a commercial credit card with ITIN number.
Just because you don’t have a Social Security number doesn’t mean you won’t need access to credit to help finance different aspects of your business. If you’ve been having trouble finding one, though, don’t fret.
Fortunately, there are still many ways to get a business credit card without SSN. This article lists some options for you. (Spoiler: you can even apply for a credit card with ITIN!)
Why is an SSN Required to Get a Credit Card?
There are a few reasons why most traditional banks require a Social Security number for a credit card. The most basic reason is that it allows the banks to track your credit history easily and, therefore, your risk level as it applies to your likelihood of paying your bill.
The federal government requires all financial institutions to verify the identity of people who want to open a financial account. This includes not just checking accounts and savings accounts but credit cards and other loans as well.
The financial institution does have some leeway regarding what it considers to be “adequate” information for identification purposes. However, all will require your legal name, address, and birthdate, as well as some type of identification number.
Can you Apply for Business Credit Card Without SSN?
The Social Security number is the most common identification number that financial institutions use. And that’s why most banks require a Social Security number for commercial credit cards.
But it’s not the only option.
Credit bureaus such as TransUnion and Experian also track people’s credit histories without an SSN, even though it is a little trickier for them to do so. As such, other financial institutions will accept an alternative identification number, allowing you to apply for business credit card without SSN.
The most commonly accepted alternative is called an EIN (or Employer Identification Number). In addition, some financial institutions will also accept an ITIN (Individual Taxpayer Identification Number).
An ITIN is a number you can get through the IRS if you don’t qualify for an SNN. This makes it a legitimate identification number in the eyes of the government.
Business Credit Card Without SSN: Top 4 Options
Here are some options if you want to get business credit cards with SSN.
1. Chase Credit Card Without SSN (Credit Card with ITIN Number)
Chase offers its Ink Business Cash Card for people without an SSN. This is the only credit card with ITIN number on this list.
This card offers a 0% APR for the first 12 months on purchases. The variable APR after that ranges from 13.24% to 19.24%.
You can earn the following levels of cashback:
- 5% on the first $25,000 you spend on phone, cable, and internet services, as well as at office supply stores
- 2% at gas stations and restaurants
- 1% on all other purchases.
In addition, there is no annual fee to have this card, and you can add employee cards to the account for no fee. You can even set spending limits for each employee card.
2. Bank of America Credit Card Without SSN (EIN Alternative)
Bank of America offers a business credit card without SSN: the Platinum Plus Mastercard Business card. All you need to apply is an EIN.
This card offers some excellent features, including no annual fee as well as an introductory APR of 0% for all purchases within the first seven billing cycles after you open the account. The variable APR after that will range between 10.24% and 21.24%.
If you make $3,000 in net purchases in the first 90 days of opening your account, Bank of America will also give you a $300 statement credit. In addition, you can schedule electronic payments online, and you can even get unlimited extra cards for your employees at no cost.
3. American Express Credit Card Without SSN (EIN Alternative)
American Express also offers a business credit card without SSN. To apply for its Business Gold Card, you just need to have an EIN.
This card offers a 0% introductory APR on all purchases made within the first 12 months after you open your card. The variable APR after that will range between 13.24% and 19.24%.
You can qualify for up to two times the Membership Rewards points on the first $50,000 of your purchases every year. There is no annual fee to have this card, and they have online banking options as well.
4. Capital One Credit Card Without SSN (EIN Alternative)
Capital One offers various Spark Business cards that only require you to enter an EIN to apply. In other words, Chase can offer you the business credit card without SSN you were looking for. The different levels of cards allow people with varying ranges of credit scores and histories to qualify.
All of the cards have no annual fee, free employee cards with the ability to set spending limits, and no foreign transaction fees.
Furthermore, the rewards the cards offer depend on the specific card that you qualify for. But, at the very least, you will be eligible for an unlimited 1% cash back on every purchase you make.
The Spark 1% Classic card offers a variable APR of 26.99%. Some of the other cards offer a 0% introductory APR followed by a variable APR between 13.99% and 23.99%.
A Financing Alternative for Business Owners Without an SSN
If you are searching for a business credit card without SSN, you may find that you don’t have many options. In addition, some of these options might not be the best fit for you.
One thing about business credit cards is they can be pretty expensive to finance. The high variable APR and daily charges are significant reasons for this. In addition, business credit cards often have relatively low limits, especially for people who don’t have a Social Security number.
A great alternative is to get an ITIN loan with Camino Financial.
We are committed to helping immigrants like you build their businesses in the U.S.
We offer excellent small business loan products for people who only have an ITIN. We offer loans starting at $5,000 and up to $400,000 at excellent terms that aren’t available with most business credit cards.
You can apply quickly online and get an instant loan quote with no impact on your credit score. Subsequently, if you accept one of the loan options, you can get your money deposited into your account within 24 hours—giving you quick and easy access to the capital you need.
Small business loans vs. credit cards: which one’s right for you?
Finance Your Business Without An SSN: Apply for a Credit Card with ITIN
In short, you can still find options for people like looking for a business credit card without SSN. Some major financial institutions can offer you a credit card with ITIN number or even an EIN in place of a Social Security number.
However, one of the best alternatives for business owners who only have an ITIN is to seek out a small business loan through Camino Financial. We live up to our motto, “No Business Left Behind,” thanks to our excellent loan products and the additional services we provide all of our customers.
Calculate a business loan today so you can see how we can work for you.
FAQ: Business Credit Card Without SSN
Can I Get Credit Card Without SSN?
Yes, you can!
Fortunately, several credit card issuers understand your situation and can offer you a credit card without SSN. However, they will ask for other documents. For instance, the most common could be your EIN or ITIN.
How To Get A Credit Card Without SSN?
Depending on the card issuer, getting a credit card can be relatively easy:
And that’s it!
Can You Apply For A Credit Card With An ITIN?
Yes, some financial institutions are willing to finance your business needs, even if you only have an ITIN. Just make sure that a credit card is the financial product you need.
A great ITIN-only alternative to a business credit card without SSN is a Camino Financial business loan. You can apply with your ITIN and get from $5,000 to $75,000 to invest in your business.