How To Get A Business Credit Card With An EIN Only

When you apply for a business credit card, most issuers will ask for your Social Security number (SSN) as part of the application process. This means that applying for a business card will result in a hard inquiry on your personal credit report, which is something not every business owner is comfortable with. Not only that, but most small business credit cards require a personal guarantee, meaning you’re personally responsible for any debt your business cannot pay off.

If you’re looking to apply for a business credit card without revealing too much personal information, however, there’s could be a workaround that allows you to pick up a business credit card with just your employer identification number (EIN).

The option comes down to choosing a corporate card vs. a small business card. Corporate cards, despite having stricter application requirements, often allow applicants to apply with an EIN instead of an SSN.

This guide will break down how to get a business credit card without using your SSN, as well as which cards to look into when you’re ready to apply.

Can you get a business credit card with just an EIN?

Yes, you can get a business credit card with just an EIN, but you’ll have a much smaller selection of cards to choose from. Business cards that let you apply with an EIN only tend to have stricter requirements for approval that put them out of reach for some small business owners.

Becoming eligible for a corporate card often requires annual revenue in the millions of dollars and at least 15 or more users of the account within the organization. Certain business structures are also required for companies who want to become eligible for a corporate credit card, and sole proprietors and small businesses rarely make the cut.

If you apply for a corporate credit card, you may not need to provide a personal guarantee, but corporate credit cards are different from small business credit cards. A corporate card may not be the best fit for you, especially if you’re just starting your business.

Benefits of getting business credit with an EIN only

Getting a line of business credit using your EIN instead of your SSN can be more beneficial than you might realize. If you’re a business owner who’s able to do this, you can:

• Keep your personal credit score from affecting your business credit eligibility. A business owner with a lower personal credit score could find it difficult to get a good business credit card, even if their business is doing well.
• Avoid issues with your business credit card bringing down your personal credit score. Lenders often report small business credit card activity to both the business credit bureaus and the personal credit bureaus. That means your business credit card could appear on your personal credit report. If you miss a payment on your business card or run up high balances during low-cash-flow months, your business credit card activity could hurt your personal credit score.
• Keep your personal and business finances as separate as possible. While a small business credit card using your SSN can still help you separate your finances, they’ll always be tied together when it comes to your credit. Having a business credit card that’s tied to your EIN only will allow you to separate your personal and business finances even more.
• Avoid signing up for a personal guarantee. Applying for a business credit card that requires a personal guarantee means that you’re personally responsible for any balances added to the card. This includes credit card debt that your business cannot afford to pay off in full. Many business owners want to avoid this liability if possible.
• Build business credit effectively. Businesses have credit scores just like individuals do, and a card that’s tied to your EIN will allow you to build your business credit. And remember, you can always use personal credit cards and loans to improve your personal credit score as well.

Steps for applying for a business credit card with an EIN

The steps required to open a business credit card with an EIN are similar to those for applying with an SSN. However, there may be some additional requirements in place for you to qualify. Corporate credit cards are more likely to allow you to apply with only an EIN, but they also often require your business to meet certain standards. These can include:

• Annual revenue targets, often in the millions
• Minimum spending requirements
• Minimum employee cardholder requirements, often 15 or more

The first step to opening a business credit card with an EIN is to determine the criteria your company must meet. These requirements may not be feasible for a small business or side hustle, and small business credit card alternatives may be better options.

From there, you’ll fill out the application required for the card you want. Be honest and forthcoming when it comes to the history of your company, including annual income and estimated expenses. Also, be prepared to provide documentation for some aspects of your business, which could include submitting financial statements or other relevant information.

Types of business credit cards available for EIN-only applications

Some credit card issuers allow you to apply for a business credit card with an EIN only. However, many require an SSN for compliance purposes even if they don’t actually use it. Here are the types of cards you should look into if you want to use an EIN and avoid a personal guarantee:

• Corporate EIN credit cards: While corporate cards often let applicants apply for credit with just an EIN, they have stricter application rules. Only certain types of businesses are eligible in most cases, and your business may need to earn a certain profit margin each year. Many issuers extend business credit with just an EIN, but only C-corps, S-corps, LLCs or LLPs registered in the U.S. are eligible to apply. If you’re a sole proprietor, you might have to work a little harder to find the right corporate card for your business.
• Corporate store cards: Why not consider a corporate store credit card at a store you frequent regularly? Some corporate store credit cards don’t come with a personal liability requirement, making them excellent EIN credit cards. Corporate store credit cards tend to offer specific perks like discounts on purchases, cash back options, and points and rewards.
• Corporate gas cards: Another option is a corporate gas card or a fleet fuel card, which may allow your company to apply without a personal guarantee. Just remember that a corporate gas card or fleet fuel card will only work for purchases across a brand of gas stations and stores, so their usefulness is limited.

Best business credit cards to get with an EIN

If your business is eligible for a corporate card, then this list can help you get started on your search for the perfect EIN-only business credit card:

Pros and cons of EIN-only credit cards

Consider the following pros and cons before you get a business credit card with an EIN only.

Alternatives to EIN-only business credit cards

Keeping your business finances separate from your personal finances makes a lot of sense. After all, maintaining separate accounts for your business can help you stay organized for tax purposes, and it can keep you from accidentally merging business expenses with your personal ones or vice versa.

Having a separate business credit card can also help you earn rewards on specific business expenses as well as all your other spending. And some business credit cards offer perks geared specifically for businesses.

If the main driver for getting a business card with an EIN is your desire to keep your business finances separate from your personal finances, you don’t necessarily need an EIN-only card to do so. You can also consider applying for the following:

Reportedly, card issuers like Bank of America, Citi, PNC, U.S. Bank, BBVA and Wells Fargo do not typically report any of your business card activity to the credit bureaus — not even late payments or accounts in default.

This means that even though you’ll have to list your SSN on your business card application, a card from one of those banks could be worth considering.

Should you apply for a business card with your SSN?

Since it’s difficult to get business credit with just an EIN, should you still consider applying for a business credit card using your SSN?

While doing so may not be ideal, this is often the best option for small businesses and sole proprietors who won’t be able to get a business card any other way. Not only can applying with your SSN get you access to a business line of credit, but you can also start building business credit. Plus, the best business credit cards earn you rewards for each dollar you spend on your business.

The bottom line

It’s possible to get a business credit card with just an EIN, but the eligibility requirements are stringent. It’s not a viable option for many small business owners since your business needs to be large enough to qualify for a corporate card.

If you can’t meet the corporate card requirements, you can instead apply for a small business credit card with your SSN and either choose an issuer that doesn’t report business card activity to the consumer credit bureaus or one that only reports delinquent behavior (which you should plan to avoid anyway).

When you apply with your SSN, you’re typically moving forward with a personal guarantee on any debt you put onto your business card. That may not be the outcome you hoped for, but you shouldn’t have to worry about that personal guarantee as long as you pay your bills on time and use the card responsibly.

*The information about the Brex Card, Shell Business Card and Sam’s Club® Business Mastercard® has been collected independently by Bankrate. Card details have not been reviewed or approved by the card issuer.