How to Open a Business Credit Card With a TIN Number
When you develop a plan for your business startup costs you may decide to finance some of those expenses with a credit card. When you open a business account, the credit card company usually your tax identification number, or TIN number. Here's how to open a business credit card with a TIN number to get the credit your business needs.
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Instructions
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Contact business credit card suppliers such as Chase, Citibank and American Express. Most companies will advertise their business credit card rates on Bankrate.
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Determine which card has the best terms for your business situation. Most cards have a low balance transfer offer with a great purchase rate if you have good credit.
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Provide your business' name and location, along with the TIN and any other information the credit card company requests. This may include last year's revenues or your personal social security number.
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Wait for your approval. This may take several weeks or several minutes depending on which company you choose.
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Use your line of credit judiciously. It's a great tool for managing your business expenses but a credit card that carries a balance every month has interest charges that affect your company's financial future.
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Tips & Warnings
It's not a good idea to start your business off on poor financial footing. If your credit is bad, don't apply for credit cards, business or otherwise, until you're back on your feet or get some financial counseling. Starting a new business is tough enough without the deck stacked against you.
