How to Apply for a Business Credit Card

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When a business is applying for a business credit card, it needs to have a tax ID number, as opposed to a social security number. Use credit cards to help grow a business with help from a registered financial consultant in this free video on credit and personal finance.

Part of the Video Series: Credit & Personal Finance
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Video Transcript

This is financial adviser Patrick Munro talking about how to apply for a business credit card. Once an individual has established themselves as a consumer and they have consumer credit cards and they have managed that correctly and built some wealth up many people will start a business. A business however, has its own identity. No longer do you have to be concerned about social security numbers but rather a tax id number for your business called an EIN number. Your business has its own entity. It is like you but in the world of credit it has its own identity so therefore it has its own identifier that's the EIN. So when you get a hold of a credit card vendor you are positioning your company almost like a person and that number will apply. It is great way for you to grow your business. You can get multiple credit cards for the business that would be assigned to different tasks of the business, the transportation credit card, the gas credit card, one for office supplies, things of that nature. This is Patrick Munro talking about how to apply for a business credit card.

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