Comments on: Anyone Can Apply For a Business Credit Card http://cashmoneylife.com/who-can-apply-eligible-business-credit-cards/ Money Management, Small Business, Career Wed, 23 May 2012 21:16:10 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: chris http://cashmoneylife.com/who-can-apply-eligible-business-credit-cards/#comment-46046 chris Tue, 01 May 2012 15:32:30 +0000 http://cashmoneylife.com/?p=841#comment-46046 also i did read that business cards have less purchase protection for individuals. my credit limit was the same though as my other cards when i had it. simmons first platinum at 7.25 interest rate is a great keeper card if you ever carry any debt beyond those 0 percent interest card time periods tooo also i did read that business cards have less purchase protection for individuals. my credit limit was the same though as my other cards when i had it. simmons first platinum at 7.25 interest rate is a great keeper card if you ever carry any debt beyond those 0 percent interest card time periods tooo

]]> By: chris http://cashmoneylife.com/who-can-apply-eligible-business-credit-cards/#comment-46045 chris Tue, 01 May 2012 15:29:43 +0000 http://cashmoneylife.com/?p=841#comment-46045 ok thanks ryan, i cancelled it anyways, it was annoying me that the store clerks asked me for a PO number and just felt weird having it, everyone looks at me funny =p i didnt find the cash back to be any better than my amex blue cash everyday or the southwest miles. southwest is 2 percent back currently and the annual fee pays for itself and actually gives you a dollar. the amex gives 3 percent on groceries and 2 perecent on gas and dept stores like macys etc, and 1 percent on everything else including walmart etc ok thanks ryan, i cancelled it anyways, it was annoying me that the store clerks asked me for a PO number and just felt weird having it, everyone looks at me funny =p i didnt find the cash back to be any better than my amex blue cash everyday or the southwest miles. southwest is 2 percent back currently and the annual fee pays for itself and actually gives you a dollar. the amex gives 3 percent on groceries and 2 perecent on gas and dept stores like macys etc, and 1 percent on everything else including walmart etc

]]> By: Ryan Guina http://cashmoneylife.com/who-can-apply-eligible-business-credit-cards/#comment-46035 Ryan Guina Mon, 30 Apr 2012 21:39:37 +0000 http://cashmoneylife.com/?p=841#comment-46035 It could give you new tax obligations if you have a separate business tax ID number (Employer Identification Number, or EIN). But it shouldn't affect your ability to apply for social services. It could give you new tax obligations if you have a separate business tax ID number (Employer Identification Number, or EIN). But it shouldn’t affect your ability to apply for social services.

]]> By: chris http://cashmoneylife.com/who-can-apply-eligible-business-credit-cards/#comment-46034 chris Mon, 30 Apr 2012 19:06:26 +0000 http://cashmoneylife.com/?p=841#comment-46034 if you dont make enough to file taxes, would having a business card give you any new obligations for either tax or applying for social services, such as food stamps? if you dont make enough to file taxes, would having a business card give you any new obligations for either tax or applying for social services, such as food stamps?

]]> By: Ryan http://cashmoneylife.com/who-can-apply-eligible-business-credit-cards/#comment-29285 Ryan Wed, 09 Feb 2011 20:38:54 +0000 http://cashmoneylife.com/?p=841#comment-29285 CJ, anyone can apply for a business credit card - you would just use your SSN where the application calls for your business identification number. If you need a flexible payment schedule, then take a look at The Plum Card(R) from American Express OPEN, which gives a discount when the balance is paid within 10 days, and gives cardholders up to 2 months to pay back the charge without interest if they pay at least 10% on the statement date. That said, I strongly recommend speaking with your company about having them issue you a corporate credit card - a company of that size shouldn't expect their employees to pay for expenses out of pocket and file for reimbursement. At least not on such a large scale. CJ, anyone can apply for a business credit card – you would just use your SSN where the application calls for your business identification number. If you need a flexible payment schedule, then take a look at The Plum Card(R) from American Express OPEN, which gives a discount when the balance is paid within 10 days, and gives cardholders up to 2 months to pay back the charge without interest if they pay at least 10% on the statement date.

That said, I strongly recommend speaking with your company about having them issue you a corporate credit card – a company of that size shouldn’t expect their employees to pay for expenses out of pocket and file for reimbursement. At least not on such a large scale.

]]> By: CJ http://cashmoneylife.com/who-can-apply-eligible-business-credit-cards/#comment-29284 CJ Wed, 09 Feb 2011 20:02:31 +0000 http://cashmoneylife.com/?p=841#comment-29284 I have a question. I am currently in a sales position with a company that produces revenues in excess of $40 million annually. Our sales force is small and the company does not offer business cards to the sales team. My monthly business expenses total around $5,000 and come out of my pocket and are later reimbursed by the company. I have been using my personal credit card for this. I want to separate these transactions from my personal card. I'm looking for a card with low/no fees , a moderate limit ($10,000ish), and flexibility in repayment - as my ability to pay off balances is dependent on how quickly the company reimburses me. I have limited credit history, and therefore a credit score that hasn't grown much yet. Would I be able to apply for a business card, even though the business expenses aren't technically my own? I have a question. I am currently in a sales position with a company that produces revenues in excess of $40 million annually. Our sales force is small and the company does not offer business cards to the sales team. My monthly business expenses total around $5,000 and come out of my pocket and are later reimbursed by the company. I have been using my personal credit card for this. I want to separate these transactions from my personal card. I’m looking for a card with low/no fees , a moderate limit ($10,000ish), and flexibility in repayment – as my ability to pay off balances is dependent on how quickly the company reimburses me. I have limited credit history, and therefore a credit score that hasn’t grown much yet. Would I be able to apply for a business card, even though the business expenses aren’t technically my own?

]]> By: 20 and Engaged http://cashmoneylife.com/who-can-apply-eligible-business-credit-cards/#comment-28679 20 and Engaged Thu, 06 Jan 2011 23:23:48 +0000 http://cashmoneylife.com/?p=841#comment-28679 I think I'm going to hold off on applying for a business credit card until I turn the business into an LLC. I think I’m going to hold off on applying for a business credit card until I turn the business into an LLC.

]]> By: Ryan http://cashmoneylife.com/who-can-apply-eligible-business-credit-cards/#comment-25295 Ryan Fri, 27 Aug 2010 13:17:39 +0000 http://cashmoneylife.com/?p=841#comment-25295 badamex, I'm not sure what can be done other than to contact AmEX and ask them to switch you to a business card that doesn't have any associated fees (I've done this before, they are usually good about doing it over the phone). If you don't want to stick with AmEX then check out this list of <a href="http://cashmoneylife.com/best-business-credit-cards/" rel="nofollow">Best Business Credit Cards</a>. The Ink Cash(SM) Business Card has a great rewards program, no annual fee, and is accepted in more locations than American Express cards. As for the annual fees and changing terms, most of that stemmed from the <a href="http://cashmoneylife.com/credit-card-act-2009/" rel="nofollow">Credit Card Act of 2009</a>, which changed how credit card companies could do business. Many companies took that as an opportunity to change terms and raise fees before the changes went into effect. It's unfortunate, but there was no way to predict it. A lot of consumers are upset with some of the changes, and many consumers are happy with other changes. If you an't make it work with AmEx, then I would find a new card. Best of luck. badamex, I’m not sure what can be done other than to contact AmEX and ask them to switch you to a business card that doesn’t have any associated fees (I’ve done this before, they are usually good about doing it over the phone). If you don’t want to stick with AmEX then check out this list of Best Business Credit Cards. The Ink Cash(SM) Business Card has a great rewards program, no annual fee, and is accepted in more locations than American Express cards.

As for the annual fees and changing terms, most of that stemmed from the Credit Card Act of 2009, which changed how credit card companies could do business. Many companies took that as an opportunity to change terms and raise fees before the changes went into effect. It’s unfortunate, but there was no way to predict it. A lot of consumers are upset with some of the changes, and many consumers are happy with other changes. If you an’t make it work with AmEx, then I would find a new card. Best of luck.

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