Applying for a business credit card without SSN can be challenging, but it’s not impossible.
Just because you don’t have a Social Security Number doesn’t mean you won’t have access to credit to help finance different aspects of your business.
Fortunately, there are many ways to get one. This article lists options for you, how to get funds, alternatives, and more.
What Is an SSN, and Why Is Important?
The Social Security number is financial institutions’ most common identification number. And that’s why most banks require a Social Security number for commercial credit cards.
But it is not the only option, for commercial credit cards, you do not need social security numbers, you can apply with ITIN and EIN numbers.
Credit bureaus such as TransUnion and Experian also track people’s credit histories without an SSN, even though it is trickier for them to do so.
As such, other financial institutions will accept an alternative identification number, allowing you to apply for a business credit card without SSN.
Financial institutions commonly accept an alternative called “EIN” (or Employer Identification Number). In addition, they will also get 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.
Should you apply for a credit card with your SSN?
While the SSN is an important number, people should not use it as a form of identification.
This is because the SSN can be easily stolen and used to commit identity theft. If your SSN is compromised, it can be challenging to recover from the damage.
The United States government assigns all citizens and permanent residents the Social Security number (SSN), a nine-digit number.
The government can use it to track an individual’s earnings and benefits and use it for tax purposes.
When applying for a credit card, you should politely decline if someone asks you to provide your SSN.
There is no need to give out this sensitive information unless it is required.
If you are unsure about whether or not you should provide your SSN, you can always ask the company for more information about their policy.
How to Get a Business Credit Card Without SSN
Depending on the business credit card issuer, getting business credit cards that don’t require an SSN can be relatively easy:
- First, make sure you know your credit score (get a free credit report); this will give you the insight you need to know which cards to apply for (and which ones you shouldn’t) and save you some time.
- Then, compare the different options you have: Do they accept EIN or ITIN? Are they unsecured or secured cards? Do they have low-interest rates?
- Lastly, once you decide on the best business credit card for you, apply for a business credit card without SSN.
And that’s it!
Business Credit Cards That Don’t Require SSN: Top 4 Options
Here are some options for getting business credit cards with SSN.
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 an 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, this card has no annual fee, and you can add employee cards to the account for no fee. You can even set spending limits for each employee card.
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 and 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.
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 must 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 also have online banking options.
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 the SSN you were looking for. The different levels of cards allow people with varying credit scores and histories to qualify.
All 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 other cards offer a 0% introductory APR followed by a variable APR between 13.99% and 23.99%.
What Do You Need to Apply for a Credit Card?
Credit card issuers will ask you to provide basic information about your business to apply for a business credit card.
This includes your business name, contact information, and personal credit history.
You will also need financial statements to inform lenders about your business finances.
Common business credit card requirements
Most business credit cards have similar requirements in terms of credit score and annual revenue.
However, there can be some variation in other areas, such as the personal guarantee and minimum spending requirement.
Here’s a look at some of the requirements when you need a business credit card:
- Good to excellent credit score
- Annual revenue
- Personal guarantee
- Minimum spending requirement
- Statements of your personal and business finances in some cases.
Compare different credit card companies and choose the right for your business.
Through Camino Financial you can obtain a personal loan with ITIN number.
List of banks where you can apply for a credit card without an SSN
Business credit cards that do not require a social security number are accessible with the current number of financial institutions. There are different banks to access financing through an ITIN or EIN number. Here are some of them:
- USAA Bank
- Ally Bank
- Capital One
- Wells Fargo
- TD Bank
- PNC Bank
Alternatives for Applying for Credit Cards Without SSN
It can be difficult to obtain an SSN business credit card, but it is possible.
There are a few options available to those who do not have an SSN:
Business credit cards with ITIN number
The first option is to apply for an Individual Taxpayer Identification Number (ITIN). This is a nine-digit number issued by the IRS to individuals who are not eligible for a Social Security number.
To apply for an ITIN, you must complete Form W-7 and submit it along with your completed tax return.
Business credit cards with EIN number
Another option is to apply for an Employer Identification Number (EIN). This is a nine-digit number issued by the IRS to businesses for tax purposes. To apply for an E IN, you must complete Form SS-4.
Here is a guide to How to Open a Bank Account Without an Ssn in the Us
If you are a foreign national who is not eligible for an SSN or ITIN, you may be able to apply for a credit card by providing your passport number and country of citizenship.
When you make a business credit card application, it is essential to remember that financial institutions may ask you to provide additional documentation to prove your identity and creditworthiness.
Benefits of Getting a Credit Card With an EIN
There are many benefits of getting a business credit card with an EIN. Perhaps the most obvious benefit is that it can help you build business credit.
This can be helpful if you ever need to take out a loan or line of credit for your business in the future. Another benefit is that it can help you keep track of your business expenses.
Also can be helpful come tax time or if you ever need to review your spending for business purposes. Finally, a business credit card can help you take advantage of rewards and perks available to business owners.
For example, many business credit cards offer cashback or points you can redeem for travel or other valuable perks.
If you’re considering getting a business credit card, the first step is ensuring you have an EIN. This is the number that the IRS uses to identify your business.
You can apply for an EIN online, and it’s free to do so.
Why Is an SSN Required to Get 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 checking accounts, savings accounts, credit cards, and other loans.
The financial institution has some leeway regarding what it considers “adequate” information for identification purposes. However, all will require your legal name, address, and birthdate, as well as some identification number.
You can obtain a bank loans with ITIN number.
A Financing Alternative: Business Loans Without a Social Security Number
If you want to get a 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.
An alternative is looking for any business loan without SSN. A great way is an ITIN loan with Camino Financial.
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 without impacting 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.Apply for an ITIN loan for your business
Finance Your Business Without An SSN: Apply for a Credit Card With an ITIN
In short, you can still find options for people looking for no SSN credit cards. Some major financial institutions can offer you a credit card with an ITIN number or even an EIN in place of a Social Security number.
However, one of the best alternatives for business owners with only an ITIN is seeking a small business loan through Camino Financial. Calculate a business loan today so you can see how we can work for you.
Can I get a credit card without a Social Security Number?
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.
Do you need an SSN for a credit card?
No, your lack of an SSN shouldn’t necessarily stand in the way of getting a credit card. There are a few options available to you.
First, you can try to apply for a credit card with an international credit bureau. These bureaus keep track of your credit history even if you don’t have an SSN.
Second, you can try to get what’s called a secured credit card. With this type of card, you put down a deposit (usually $200-$500) which acts as collateral in case you default on your payments.
Can you get a business credit card without a business?
Yes, you can apply for a credit card without a formally registered business. You can get a business credit card by applying as an individual and stating that you will be using the card for business purposes.
The credit card company will review your application and your personal credit report and decide if they are willing to extend you a line of credit.
Can I use my EIN instead of an SSN when applying for credit?
Yes, you can use your EIN instead of your SSN when applying for credit.
However, keep in mind that your EIN is not as easily recognizable as your SSN, so some lenders may be hesitant to approve you for a loan if they cannot verify your identity.
How can I get a credit card without an EIN number?
Once you have your EIN, you can apply for a business credit card. A few options are available, so it’s important to compare features and benefits to find the right card for your business.
Some business credit cards require a good personal credit score to be approved. However, cards are also specifically designed for businesses with no credit history.