Danyal Ahmed

The best way to get a enterprise bank card with an EIN


When you apply for a enterprise bank card, the issuer will request a social safety quantity through the software course of. Your SSN helps issuers verify your private credit score to find out your creditworthiness for a small-business bank card.

When filling out a credit score software for your small business, you can too embrace an employer identification quantity. An EIN is a quantity credit score bureaus and the IRS use to establish companies, the identical means an SSN identifies people and is exclusive to every particular person. Primarily based on your small business authorized construction, you’ll have an EIN or not want one in any respect. However if you wish to separate your private and enterprise funds, it’s possible you’ll not wish to embrace your SSN and be topic to a private credit score verify.

This text covers the fundamentals of an EIN and explains tips on how to open a enterprise bank card with an EIN solely.

The best way to get an EIN

Companies of all sizes use an EIN to file taxes. A enterprise should get hold of an EIN if it has an worker aside from the enterprise proprietor, is an organization or partnership, or information a sure sort of tax return. If you do not have an EIN, your first step is to acquire one.


Fortunately, the method of getting an EIN is easy. Companies can request an EIN from the IRS for free of charge. The IRS’ on-line software is one of the best ways to get an EIN. The knowledge you present is validated in real-time, and an EIN is issued instantly on the finish of the appliance.

Whereas the web request kind is the quickest method to get hold of an EIN, you can too request it by mail. Should you work with a enterprise formation firm, they could embrace or supply this service.

Can I get a enterprise bank card utilizing an EIN solely?

You possibly can open a enterprise bank card with an EIN solely; nonetheless, your decisions will likely be restricted. It is because most small-business bank card issuers require both an SSN, EIN, or each through the software course of.

Notice that whereas sole proprietors can get an EIN, it is not vital, as they need to use their SSN to be eligible for a enterprise bank card. I’ve utilized for and been authorized for each the CitiBusiness® / AAdvantage® Platinum Choose® Mastercard® and Ink Enterprise Most well-liked® Credit score Card utilizing my SSN with out the necessity for an EIN because of my enterprise construction as a sole proprietor.

The knowledge for the CitiBusiness AAdvantage Platinum Choose has been collected independently by The Factors Man. The cardboard particulars on this web page haven’t been reviewed or supplied by the cardboard issuer.

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For brand spanking new companies with out a longtime credit score historical past, getting authorized for a card utilizing simply an EIN is tough. Further necessities could embrace assembly particular standards for month-to-month income or holding a selected amount of cash in your small business checking accounts. Companies with established credit score have a a lot better probability of being authorized for a card, particularly a company card, with an EIN solely.

Associated: Greatest enterprise bank cards

Kinds of EIN enterprise bank cards

There are a number of sorts of EIN-only bank cards obtainable to companies, together with company bank cards, gasoline playing cards, and secured enterprise bank cards.

Company bank cards are linked to the company account slightly than a person. Usually talking, company bank cards can be found to companies with an annual income of $4 million or extra and have a longtime enterprise credit score historical past.

A preferred selection is the Brex Company Card for startups, due to its bonus-earning classes for big companies. Nonetheless, card eligibility requires candidates to have at the least $100,000 in a enterprise checking account to qualify. A company bank card is the appropriate selection for LLCs, S-Corps, or C-Corps, as there’s virtually no cause why a sole proprietor would wish a company bank card.

The knowledge for the Brex Company Card has been collected independently by The Factors Man. The cardboard particulars on this web page haven’t been reviewed or supplied by the cardboard issuer.


Gasoline corporations difficulty gasoline bank cards to assist companies handle their gasoline purchases. Gasoline playing cards are distinctive as a result of they will solely be used to fill at a selected firm’s fuel stations and can’t be used for different sorts of purchases. Should you discover a gasoline card too restrictive when it comes to use, think about a company card to cost gasoline bills to.

A secured enterprise bank card often is the proper selection for companies with a restricted credit score historical past when searching for an EIN-only card. A secured card requires a deposit with the issuer and is held as collateral if the cardholder doesn’t pay their assertion for purchases they’ve made.

Out of all of the sorts of EIN-only playing cards, secured enterprise bank cards are simpler to acquire because of the added safety the collateral supplies. The credit score restrict on secured enterprise bank cards equals the safety deposit quantity, and the issuer reviews funds to enterprise credit score reporting companies.

Advantages of an EIN-only bank card

The advantage of utilizing a bank card solely related to an EIN is that it helps differentiate your private funds out of your firm’s. An EIN-only bank card helps set up your enterprise credit score rating, strengthening your organization’s creditworthiness and making it simpler so that you can entry further traces of credit score sooner or later.

A good thing about separating your private and enterprise funds when opening enterprise bank cards with an EIN is that it protects your private belongings if your small business fails or faces a lawsuit. This consists of derogatory marks in your private credit score historical past, corresponding to late funds.

Cons of an EIN-only bank card

Though opening a enterprise bank card with an EIN could enchantment to some, there are a number of drawbacks.


The largest draw back of making use of for a bank card with solely an EIN is that there aren’t that many to select from, and so they could also be harder to qualify for. This locations EIN bank cards out of attain for a lot of small and medium-sized companies.

One other downside to EIN-only bank cards is that your small business’ good credit score historical past won’t be mirrored in your private credit score report. Elements corresponding to size of credit score, credit score restrict and well timed funds won’t be displayed in your private credit score report. You would miss out on doubtlessly strengthing your FICO rating and total credit score profile.

Backside line

It’s fully potential to acquire a enterprise bank card with an EIN solely, however pay attention to the caveats. EIN-only bank cards are restricted of their choices and sometimes embrace further necessities which may be laborious to satisfy. Regardless of with the ability to get an EIN shortly and simply from the IRS, there could also be little profit to your private credit score and FICO rating must you select to open a enterprise bank card with an EIN.


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