Most peoples ask us how to get business credit cards with EIN only. In this article, we are sure you can find your question answered. Card issuers need you to provide your Social Security number when applying for a business credit card. Corporate cards are only the exception. You can get these cards using your business’s employer identification number or EIN.
Down below, we share with you complete details about who qualifies for these cards and how to get a business credit card with EIN only.
Also read: Merchant service provider: Explained simply
What Is an EIN?
Before sharing with you how you can get a business credit card with an EIN only you should know this first. It’s a tax ID that is used by business owners, corporations, small business owners, and other entities. If you are also a small business owner then you can also apply for EIN online. But it has one condition your business must be located in the only U.S. or a U.S. territory. Applying for EIN SSN (Social security number) and another tax identifier is required.
EIN-only business credit cards
Corporate credit cards are only available with an EIN only. These credit cards are available to incorporated companies and often have lofty revenue & cash-on-hand needs.
With the help of EIN, you can easily apply for corporate cards:
Ramp Card
Ramp cards are the best business credit cards with EIN only for smaller businesses.
It earns unlimited-1.5%
Ramp cards provide you the Cashback on all purchases and include perks like spending controls, forecasting tools, & automatic receipt matching. If you want to qualify then you must have $75,000 in your bank account. You must link that business account to your Ramp Card when you apply.
Also read: Best 5 payment gateways for small businesses 2023
Brex Card
This Card is the best business credit cards with EIN only for startup businesses.
Brex card is geared toward professionally funded startups and you need a bank balance of $50,000 to qualify. Brex Card provides you with a big bonus and many rewards:
You can earn points on every single dollar spent with industry-leading multipliers: 7x on a rideshare, 4x on Brex Travel, 3x on restaurants, 2x on software subscriptions, and 1x on all other transactions. Also, you can earn 3x Brex Rewards points on all eligible Apple purchases through your Brex dashboard.
These three Divvy, Expensify, and Stripe also provide corporate credit cards that can be applied for using only an EIN and may be easier to obtain.
Can I get a secured business credit card with an EIN only?
No Doubt a secured business credit card is a good option for business owners with a bad credit card who are not eligible to meet the financial needs of a corporate card.
Secured business credit cards don’t demand a good credit card score, but you still need your taxpayer identification number — either a Social Security number or Individual Taxpayer Identification Number — to apply.
These secured business cards are eligible to help you to build your business credit card score.
Also read: Credit card processing and payment gateway
First National Bank Business Edition Secured Mastercard Credit Card
The First National Bank Business Edition enables you to Secured Mastercard Credit Card.
The main three business credit card bureaus are Reports card activity to Dun and Bradstreet, so on-time payments will help you to build your business credit score. This secured card does need a credit check and security deposit. That you can easily see your credit limit. This card’s annual fee is $39.
Bank of America business advantage unlimited cash rewards MasterCard secured credit card
Business credit cards with EIN only: Bank of America’s Business Advantage is you can earn unlimited 1.5% and it provides you cash back on all purchases. But you need to put down a security deposit (minimum of $1,000), similar to your credit card limit. Bank of America will periodically review your secured business card and may help upgrade you to an unsecured card if & when you qualify. This card charges 0 annual fees.
Also read: Best Small businesses credit card processing
Why can’t you use an EIN to get a business credit card?
Every single small business cards need applicants to personally guarantee the debt on the card. In simple language, your business goes under that no matter whether you’re completely responsible for paying back any debt.
Your credit score use card issuers as a basis for approval & will also use your Social Security number to check your credit even if you also give an EIN only. Maybe many small-business cards need good to excellent personal credit (typically FICO scores of at least 690).
The card issuer will normally use your Social Security number to check your credit, even if you apply for a business credit card with EIN only.
Also read: What is a merchant account? Do you really need one?
Conclusion:
In the above article, we shared with you complete details about how to get a business credit card with EIN only. We hope you find your question answered in this article. If you want to know more about business credit cards then contact us at YMSR (Your Merchant Service Rep). We are one of the best business credit card companies in the USA. For more information contact us!
