Business credit cards with EIN only help separate your credit from your business credit record, making this one of the best ways to build a credit history for your company. This allows you to take loans for your business under your company name with better deals.

In this post, we’ll walk you through applying for business credit cards without using your SSN, the best lenders, the loan types, and how to build credit using them. Let’s get started!

What Is an EIN?

In simple terms, an EIN is an employer identification number; this is sometimes referred to as a Federal Employer Identification Number (FEIN).

This nine-digit number serves as a unique identification number for a registered business or corporation.

The IRS or the Internal Revenue Service uses this number primarily when companies report their business and personal income separately.

The EIN is for businesses, what the Social Security number is for people. It allows holders to apply for credit products.

In this way, the EIN serves as a unique identifier for the business to start building its own credit history and credit score.

This is an important aspect of entrepreneurship, as business loans are some of the most useful ways to finance the growth of a business.

Can You Get a Business Credit Card Without an SSN?

Yes, but it may be more difficult than getting a card with an SSN. Some issuers may require additional financial information, and others may simply not offer business cards to applicants without an SSN.

Why do business credit cards typically require your SSN?

Your Social Security number is linked to your personal financial history and personal credit report. While this score may be higher than the credit score for your brand-new business, it’s important to build your company credit score separately from your personal finances.

This unique identification number from the IRS effectively acts as your business’s Social Security number. Getting EIN business credit cards can help build a unique credit history for your business.

#DidYouKnow
Personal credit bureaus do not work for businesses.

Another reason why business credit cards might require your SSN is for security purposes.

By having your SSN on file, businesses can more easily identify you if there’s any suspicious activity on your account.

This way, they can be sure you are using the card and will repay the debt. This last one works as personal liability for all card debts.

How to Apply for a Business Credit Card With EIN

In order to build a unique credit history for your business, it’s important to apply using your EIN rather than your Social Security number. Here’s how to do it:

1. Find the right card for your business -A few options are available, so compare a few before deciding.
2. Gather the required information – When you apply for a business credit card, you’ll need to provide your business’s EIN and other basic information.
3. Apply online – Once you have all the required information, you can apply for your business credit card according to the lender’s flexibility.
4. Start using your new business credit card! – Once they approve you, you can start using your business credit card to make purchases and earn rewards.

#CaminoTip
A business loan is a better alternative to business credit cards because it offers a longer repayment term, which can help businesses manage their cash flow.

Applying for business loans is easier, and Camino Financial lets you apply with an ITIN if you don’t have an SSN.

Apply for a business loan today

Best EIN Only Business Credit Cards

Are you looking for some of the best business credit cards that let you apply with just your EIN?

Here are five of the best options to choose from.

Capital One Spark Cash Plus

The Spark Cash Plus from Capital One is a great business credit card that offers 2% cash back on all business purchases.

They also offer a variety of perks and benefits, including cash bonuses for businesses that use the card frequently.

• Pay-in-full business credit card
• 2% cash back on all purchases
• $150 annual fee
• No preset spend limit
• Free employee cards
• Can apply with SSN, EIN, or TIN

American Express Business Platinum Credit Card

The Business Platinum Card from American Express costs around $695 in annual fees but offers some of the best perks in the entire industry.

This includes access to the Membership Rewards program and 5x points when you use the card to pay for flights and hotels.

• Pay-over-time business credit card
• $695 annual fee
• 5x points on business travel expenses
• Free business lounge access around the world
• Free employee cards

Ink Business Preferred Credit Card

The Ink Business Preferred is one of Chase’s best business credit cards. This business card includes a massive sign-up bonus and 3x points on various business purchases.

The Chase app also lets you monitor the account and order employee cards for free.

• Pay-over-time business credit card
• Free employee cards
• $95 annual fee
• Manage limits and employee cards from the app

Southwest Rapid Rewards Performance Business Credit Card

The Southwest Rapid Rewards Card comes with some of the best benefits for business travel.

This card comes with travel discounts and even allows you to order employee cards connected to the same account, making this one of the easiest business credit cards to get with an EIN number.

• Issued by Chase
• Massive airline discounts
• Free employee cards
• 1 point per $1 spent

U.S. Bank Business Triple Cash Rewards Credit Card

The U.S. Bank Business Triple Cash Rewards offers a staggering 3% cash back on all eligible purchases.

This includes purchases at gas and EV stations. The best part about this card is that there’s no annual fee, making it one of the best deals you can get for your small business.

• Pay-over-time business credit card
• No annual fee
• Free employee cards
• 3% cash back
• Big sign-up bonuses

U.S. Bank Business Platinum Card

Access to capital is crucial. That’s why the U.S. Bank Business Platinum Card is such a valuable tool when looking for startup business credit cards EIN only.

This card offers many features that are ideal for startup businesses, including 0% APR on purchases and balance transfers for the first 12 months and no annual fee. Plus, you’ll earn rewards on everyday business expenses.

To qualify for the U.S. Bank Business Platinum Card, you must have a startup business with an Employer Identification Number (EIN). The IRS uses this number to identify your business for tax purposes. You can apply for one online if you don’t have an EIN.

Types of Business Credit Cards With EIN Only

Not all business credit cards are the same. Banks and financial institutions have created a wide range of credit cards to serve specific functions for a business.

Here’s a list of the best business credit cards with EIN only you can get today.

Corporate Business Credit Cards

Corporate credit cards are designed to access short-term cash for your business. These credit cards can come without a personal guarantee, meaning that you can apply with just your company’s EIN. However, most issuers have strict rules about what companies can use their EINs to apply as it’s riskier for them.

Corporate Store Credit Cards

Consider applying for a corporate store credit card if your business frequently visits a particular store or company. This is a credit facility offered by the store itself so that you can make your purchase and pay for the items later.

You can use these corporate store credit cards to empower employees. Empowering employees this way can help improve employee buy-in and productivity from the ground up.

Corporate Gas Cards

If your business has a fleet of vehicles or frequently travels for work, you can consider getting business fuel cards with EIN only.

You can apply for this kind of credit card without your Social Security number, making it perfect for building a credit record for your business.

Prepaid Business Credit Cards

One of the easiest ways to build a credit score from scratch is to apply for a prepaid business credit card.

This kind of credit card allows you to load cash into the card for employees to use during the business’s daily operations. Just like a corporate credit card, this kind of card can empower staff within your business.

The best part of having a prepaid credit card is that you can get all the perks of having a credit card even if you have no credit score. Since you are not borrowing finances from a bank or financial institution, you can build a credit record without having to borrow anything, to begin with.

Alternative Business Credit Cards

There are also alternative methods to get a credit card for your business. In some cases, issuers will accept an Individual Taxpayer Identification Number (ITIN) instead of a Social Security number.

This unique identifier is also issued by the IRS and also allows you to build a credit record for your business separately from your personal finances.

Business loans are a better alternative because they typically have a lower interest rate, have a longer repayment period, and are easier to approve. If you want to apply, you can do it only with your ITIN for getting Camino Financial loans.

Apply for a business loan today

Reasons Why Business Owners Should Apply for a Business Card With EIN

As mentioned above, applying for a business credit card with your Employer Identification Number is very different from using your Social Security number.

Here are some benefits of applying with an EIN, along with when you should instead use your SSN.

Benefits of Business Credit With Just an EIN

Applying for a business credit card with your EIN comes with many benefits. Here’s a quick look at some of the most notable ones.

Build a Credit Record for the Business

The most important benefit of applying for a credit card with your EIN is that it allows you to build a credit record for the business.

Applying with your EIN separates the company’s credit score from your personal credit score, allowing you not to hold liability when your business qualifies for other credit products.

Keep Business and Personal Expenses Separate

A business credit card is great for separating business and personal expenses.

While this helps with real-world cash flow issues, it also helps keep the records separate in the background.

This allows your personal financial record to stay independent from your company’s financial record.

Perfect If You Don’t Have an SSN

Lastly, applying for a business credit card is incredibly beneficial if you don’t have a Social Security number.

This could be because you’re an investor in the country or you’re currently working in the United States on a visa.

Either way, applying with an EIN allows you to access credit for your business without needing an SSN.

When You Shouldn’t Apply for EIN only Business Credit Cards

Applying for a business credit card with your EIN means starting from scratch to build a credit record for your business.

This is a long process, meaning you may not have access to much credit for a long time.

If you’re in a position where you need credit to grow your business quickly, it may be advisable to apply under your Social Security number or maybe your ITIN.

This allows you to stand as a guarantee so that your business can get the finances it needs in a much shorter space of time.

How To Build Business Credit With Your EIN

Building business credit with just EIN it’s possible. Businesses need to build a credit history to qualify for credit facilities in the future.

This is important as business loans are often the best way to take advantage of opportunities and grow your business.

Here’s a quick guide on how to build a credit score for your business.

Register Your Business

The first step to building a good credit score for your business is to register the company in the location where you wish to operate.

During this process, you can choose the kind of business that you want to register.

This can either be a Limited Liability Company (LLC) or an S-corporation.

Get an EIN

An Employer Identification Number is a unique nine-digit identification number that is essential to registering your business with the IRS.

This number is also required to complete the company registration process.

The IRS allows you to register your business with them for free, and you can complete it online.

You can read more about applying for an EIN on the IRS website. You can register directly from their website by fax, mail, telephone, or online.

Open a Business Bank Account

Once you register your company, you can open a bank account for the business. This is important as it creates a financial record under your company’s name.

When applying for a business bank account, you can use your Social Security number or find a bank account that lets you register with your EIN only and reports to consumer credit bureaus.

If you have the option to register your business bank account with your EIN only, this is definitely the way to go.

Apply for a Business Credit Card

After your business bank account is all set up, you can then go ahead and apply for a business credit card. You must apply for your business credit card with your EIN, not your Social Security number.

This is because applying with your Social Security number will add to your personal credit record, while applying with your EIN will contribute toward building a credit history for your business.

A credit card is the most practical way to gain access to short-term credit for small business owners.

This is because you can even get a cash deposit credit card to build a credit history for your company from scratch.

Managing your business credit card can help build a credit record that can allow you to qualify for other forms of financing in the future.

Never Miss a Payment

When you have your business credit card, you must manage it well to reflect positively on your credit history.

The best way to maintain your business credit card is to ensure you never miss a payment. You can choose between making the minimum monthly payment or settling the entire debt fully.

While some accounts can let you set up an automatic debit order, others require you to make the payment manually every month.

One of the most effective methods to never miss a payment is to set a reminder a few days before so that you can make every payment in advance.

Paying your credit card off in full every month will improve your creditworthiness and help build an impressive credit score for your business.

This credit score is separate from your personal credit score and allows your business to apply for additional credit facilities.

Only Apply for Credit You Need

As time goes by, your credit score will improve.

While this allows you to apply for additional products from different credit card issuers, it’s important to only apply for the credit you need.

This is because too many applications reflect negatively on your credit report.

This is particularly an issue if you make too many applications that keep getting rejected.

Each credit inquiry shows up on your credit report and shows banks and lenders that you are in desperate need of cash. This can even decrease your overall credit score.

Use Credit Sparingly

Lastly, use credit as your last resort. The amount of credit you use shows banks and lenders how much credit you can comfortably afford.

For example, if your business credit card has a limit of $10,000, but you only use around $1,000 of it every month, the bank recognizes that your business is in a strong financial position.

This strong financial position directly translates to an increased credit score.

At the end of the day, your credit score is there to showcase your financial position as a business. If you don’t need to borrow money, it tells the banks that your business is doing well.

Takeaways

A small business credit card with EIN is one of the best ways to build a credit profile for the business.

Using your EIN helps build a credit score that can help secure business financing later on.

If you want to learn more about your financing options as a business, feel free to visit our website for an instant quote.

Whether you’re looking for funds to help with your startup or grow your existing business, Camino Financial can help you every step.

Apply for a business loan today