Comments on: Anyone Can Apply For a Business Credit Card

By: Ryan

Ryan — Wed, 09 Feb 2011 20:38:54 +0000

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

CJ — Wed, 09 Feb 2011 20:02:31 +0000

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

20 and Engaged — Thu, 06 Jan 2011 23:23:48 +0000

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

Ryan — Fri, 27 Aug 2010 13:17:39 +0000

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.

By: badamex

badamex — Fri, 27 Aug 2010 05:54:46 +0000

I got a SimplyCash business card a little over a year ago partly based on this article. I recently saw an ad where they changed the terms and there is now a $50 annual fee after the first year if you don’t spend at least $20,000.

I emailed Amex and they said I am subject to the new fee rule and not grandfathered in. Can you suggest how to get out of this?

By: Ryan

Ryan — Tue, 26 Jan 2010 13:09:05 +0000

TJ, it shouldn’t affect your score much if you aren’t approved. It’s usually a couple points at most, and the effect goes away as time passes. I wouldn’t be concerned.

By: TJ

TJ — Tue, 26 Jan 2010 06:05:19 +0000

Wish I knew that before I applied! Hope if it gets declined it doesn’t negatively affect my credit score.

By: Ryan

Ryan — Tue, 26 Jan 2010 01:40:49 +0000

TJ, yes, the business credit card market and the credit card market in general have changed in the last year and a half since this was written. Credit was much easier to receive a couple years ago. However, don't let that discourage you. There are many good options to choose from. Check out this article: Best Credit Cards: Cash Back and Rewards Points.