Published By Janet Gershen-Siegel at August 18th, 2019
We checked out a number of business credit cards with EIN only, and did the research for you. So here are our top picks.
Per the SBA, small business credit card limits are 10 – 100 times that of personal credit cards!
This reveals you can get a lot more money with small business credit. And it also means you can have personal credit cards at retailers. So you would now have an extra card at the same stores for your company.
And you will not need collateral, cash flow, or financial data in order to get business credit. Cards for EIN (employer identification number) only most likely will not report to the personal credit bureaus. This is because the card issuer should only be using your Social Security Number for identification purposes.
Benefits vary. So, make sure to choose the benefit you would prefer from this array of alternatives.
Make sure to take a look at the Discover it® Student Cash Back card. It has no annual fee. The card also offers a six-month introductory period of 0% APR on purchases. And there is an APR of 14.99 – 23.99% variable on all purchases after that period.
One one-of-a-kind feature is that it offers an incentive for scholars to maintain good grades with a $20 statement credit. If scholars earn a GPA of 3.0 or higher each school year, the card will award the $20 statement credit each year for up to 5 years.
Use this credit card to build personal credit. While this is a personal credit card versus a business card, for new credit users, their FICO scores will be important. And this credit card offers an excellent way to raise FICO while also getting rewards.
You can earn 5% cash back at different places each quarter like grocery stores, gas stations, restaurants or Amazon.com up to the quarterly maximum. After that, this credit card offers unlimited 1% cash back on all purchases.
In the initial year, all cash back rewards are matched 100%.
Downsides include a cash advance fee of either $10 or 5% of the amount of each cash advance, whichever is greater. And although they waive the first late payment fee, a fee of up to $37 applies on all other late payments. There is also a returned payment fee of up to $37.
We found only one good corporate credit card choice for this category.
For average credit, we like the Capital One Spark Classic for Business. It has no annual fee. There are cash-back rewards. The card gets an unlimited 1% cash back on all purchases. There is an annual fee of $0.
With this Capital One card, you will get benefits including an auto rental collision damage waiver, and purchase security. And you also get extended warranty coverage. And you get travel and emergency assistance services.
But REMEMBER: the ongoing APR is 24.74% variable APR. And the penalty APR is even higher, 31.15%. Also, there is no sign-up bonus.
Check out the Wells Fargo Business Secured Credit Card. It charges a $25 yearly fee per card (up to 10 employee cards). It also requires a minimum security deposit of $500 (up to $25,000) and it is meant to help cardholders establish or rebuild their credit.
Pick this secured business credit card from Wells Fargo if you want to get 1.5% per dollar in purchases with no limits or get one point for every dollar in purchases. You also earn 1,000 bonus points for every month your company makes $1,000 in purchases on the card.
Also, you get free FICO scores every month. There are no foreign transaction fees. It is possible to upgrade to unsecured credit. Your account is regularly reviewed. And you may become eligible for an upgrade to an unsecured card with responsible use over time. Approval is not guaranteed and depends on factors including how you manage this and your other accounts.
APR is the current prime rate plus 11.90%. There is no introductory APR period and no sign-up bonus. This is not a card for balance transfers.
We found a few great small business credit card choices in this category.
The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card has no annual fee and comes with a 0% introductory APR on purchases for the initial nine months. Thereafter, the card has a 13.24 – 23.24% variable APR
Earn 3 points/dollar spent when you book travel with the Bank of America Travel Center and 1.5 points/dollar on all other purchases. You can get unlimited points and points will never expire.
There is a 25,000-point sign-up bonus when you spend $1,000 within the first 60 days of opening the account. Cardholders get travel accident insurance, and lost luggage reimbursement.
They also get trip cancellation coverage, trip delay reimbursement and other benefits.
There is no introductory rate for balance transfers. Also, bonus categories are limited.
Have a look at the JetBlue Plus Card for one more offer of a 0% introductory APR. Get six points/dollar on JetBlue purchases, two points/dollar at dining establishments and grocery stores. And get one point/dollar on all other purchases.
Spend $1,000 in the initial 90 days and pay the annual fee, and get 40,000 bonus points. New cardholders receive a 12 month, 0% introductory APR on balance transfers made in 45 days of account opening.
Thereafter, the variable APR on purchases and balance transfers is 17.99%, 21.99% or 26.99%, based upon creditworthiness. Benefits include a free first checked bag and 50% savings on in-flight purchases.
There is a $99 annual fee for this card.
Check out the Uber Visa Card. Uber is the very first ride-sharing service to offer a credit card, in a partnership with Visa and Barclays.
The card offers 4% back per dollar spent at restaurants, takeout and bars, including UberEATS. Also, get 3% back on hotel, airfare and vacation home rentals. And get 2% back on online purchases.
So, this includes retailers and subscription services such as Uber and Netflix. And get 1% back on all other purchases. Each percent/point has a value of 1 cent. Redeem points for cash back, gift cards or Uber credits directly within the app.
By spending a minimum of $500 in the first 90 days, users can earn a $100 sign-up bonus. Cardholders spending a minimum of $5,000 per year are eligible to receive a $50 credit toward online subscription services.
If you pay your cellphone bill with this card, you are insured up to $600 for cellphone damage or theft.
Cardholders are eligible for exclusive access to certain events and offers. Uber expects most of these offers to be available in major cities like New York, San Francisco, Los Angeles, Chicago and DC. There is no foreign transaction fee.
But there is no introductory rate. The APR is a variable 16.99%, 22.74% or 25.74%, based on your creditworthiness. Cardholders with less than stellar credit will be on the higher end of the range.
Also, there are restrictions on Uber credits. To redeem points as credits within the Uber app, accrue at least 500 points, or $5. Cardholders can convert a maximum of 50,000 points, or $500, in a given day.
Look at the Ink Business Cash ℠ Credit Card. Companies can get cash back with each purchase. Spend $3,000 in the initial three months from account opening. And you’ll earn a $500 bonus cash back.
There is a $0 yearly fee with a 0% introductory APR for 12 months on purchases and balance transfers. Afterwards, the APR is a 15.24 – 21.24% variable.
The card features travel and purchase coverage benefits. So, this includes an auto rental collision damage waiver and extended warranty protection.
Earn extra cash back on business categories. So, these include office supply stores, telecommunications, gas stations and restaurants.
Note: this credit card has a balance transfer fee. Pay 5% of the amount transferred or $5, whichever is more. Also, there is a foreign transaction fee of 3%.
Another choice is the Starwood Preferred Guest Business Credit Card from American Express.
This American Express credit card is for those who stay at Starwood Preferred Guest and Marriott hotels often. Get six points per dollar of eligible purchases at participating SPG and Marriott Rewards hotels.
And get four points per dollar at American restaurants, US filling stations, and on US purchases for shipping.
Also, earn four points to the dollar on wireless telephone services purchased directly from US service providers. For all other eligible purchases, get two points per dollar.
Get 75,000 bonus points when you spend $3,000 in the first three months of account opening. Benefits include free in-room premium internet access, Sheraton Club lounge access, and purchase protection.
Plus you get car rental loss and damage insurance. And you get baggage insurance. There is also a global assistance hotline. And there is a roadside assistance hotline. And get travel accident insurance and extended warranty coverage.
The most significant issue is the yearly fee. There is a $0 introductory annual fee for the first year, then it’s $95 after that. Plus there is no 0% introductory APR. Instead, there is a 17.74 – 26.74% variable APR
We just found one decent corporate card for this category.
Check out the Discover it® Cash Back card. There is a 10.99% introductory APR for six months from date of first transfer. So, this is for transfers under this offer which post to your account by January 10, 2019.
After the introductory APR expires, your APR will be 14.99% to 23.99%. So, this is based on your creditworthiness. Your APR will vary with the market, which is based upon the Prime Rate.
You can earn 5% cash back at different places every quarter. So, these are places like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs. But this is up to the quarterly maximum each time you activate. Also, automatically earn unlimited 1% cash back on all other purchases.
You will earn an unlimited dollar-for-dollar match of all the cash back you have earned at the end of your first year, automatically.
Look at the SimplyCash Plus Business Credit Card from American Express. There is a $0 annual fee. And there is a 0% APR on purchases So this is for the initial 15 months an account is open.
But when the introductory period runs out, the APR for purchases is 14.24 to 21.24%. So, this is variable and based on creditworthiness.
This credit card has numerous benefits. These include purchase protection, car rental loss and damage insurance. And they also include a baggage insurance plan, extended warranty coverage and a global assist hotline.
Also, earn 5% cash back at US office supply stores and on wireless phone services. So, these must be purchased from US service providers. But this pertains to the initial $50,000 of yearly spending. Then, you earn 1% cash back.
You also earn 3% cash back on spending category of your choice. So, this is from eight distinct categories. They include airfare, gas, advertising and computer purchases. But it applies to the first $50,000 of yearly spending. Then, you get 1% cash back.
Cash-back bonuses are automatically credited to the customer’s billing statement.
Note: you cannot use this credit card for balance transfers. There is a foreign transaction fee of 2.7%. The card charges up to $38 in late fees. And the returned check fee is also $38. The penalty APR is 29.99%.
And, it kicks in if you have two or more late payments within 12 months. It can also apply if you fail to make the minimum payment on time or have a returned payment.
Take a look at the Capital One® Quicksilver® Card. It offers flat-rate rewards of 1.5% on all purchases. There are no limits to the amount of cash back rewards that cardholders can earn. Also, the card has a $0 yearly fee.
New cardholders have a 0% APR on purchases and balance transfers for the first 15 months after opening the account. And then they have a 14.74 – 24.74% (variable) APR after that.
A cash bonus of $150 is on offer for those who make at the very least $500 in purchases within 3 months of account opening.
Also, cash back rewards do not expire for the life of the account. And there is no limit to how much you can earn.
This card also offers travel accident insurance. And you get an auto rental collision damage waiver. There are no foreign transaction fees. And there is extended warranty coverage.
Downsides are the flat reward rate, not allowing for any more than that. And the higher APR after the first 15 months.
We found a few great credit cards for small business owners in this category.
Be sure to check out the Capital One® Spark® Miles for Business card. With this card, you can get 2 miles per dollar on all purchases. When you spend $4,500 within the first 3 months of opening an account, you can earn 50,000 miles. So, that is worth $500 in travel.
Benefits for cardholders include an auto rental collision damage waiver, and purchase security. And they also include extended warranty coverage. And you get travel and emergency assistance services.
Cardholders will pay $0 introductory for first year. But they will pay $95 after that for the annual fee.
There is no 0% APR for purchases or balance transfers with this card. The APR is 18.74% (variable). This card has a link to your EIN.
Have a look at the IHG ® Rewards Club Premier Credit Card. it gets hotel rewards worldwide. For every dollar spent at participating IHG hotels, earn 10 points. Get two points per dollar spent at gas stations, grocery stores and restaurants.
Plus all other purchases earn one point. New cardholders can get an 80,000-point sign-up bonus when they spend $2,000 in the first three months of account opening.
This card offers a free one-night hotel stay each year. Plus there is a wide array of benefits like travel and purchase coverage and an upgrade to Platinum Elite status with the IHG Rewards Club. The club offers complimentary room upgrades when available and guaranteed room availability.
The biggest issue is that the card does not have a zero percent APR introductory rate. And the standard APR is 17.99 – 24.99% variable. Also, the yearly fee is $89.
This card earns six points/dollar spent at participating Marriott and SPG hotels. And get two points/dollar on all other purchases.
Spend $3,000 in the first three months from account opening and get two free night awards (each worth up to 35,000 points).
Cardholders get access to perks including a free one-night stay every year after account anniversary. Also get travel and purchase protection. So, this includes free standard in-room Wi-Fi and priority late checkout.
Perks include baggage delay reimbursement, and lost luggage reimbursement. There is also trip delay reimbursement. And there is purchase protection. In addition there are concierge service and automatic Silver Elite status, which includes a 20% bonus on points.
Spend $35,000 each account year, and get an upgrade to Gold Elite status. So, that includes a complimentary room upgrade, free daily breakfast and 4 PM late checkout.
There is an annual fee of $95. The APR is a 17.99 – 24.99% variable.
Take a look at the Chase Sapphire Preferred® Card for travel points.
You can earn two points to the dollar spent on travel and dining at restaurants. And you can earn one point per dollar on all other purchases. Points can be traded in for cash back, gift cards, or travel.
The card’s benefits include trip cancellation insurance, travel and emergency assistance services. They also include an auto rental collision damage waiver, purchase protection and extended warranty protection.
When you spend $4,000 in the initial 3 months from account opening, you will earn 50,000 bonus points. These points are worth $625 if you redeem them for travel through Chase Ultimate Rewards.
You can get an unlimited two points per dollar for travel and dining at restaurants. And after that earn one point per dollar for all other purchases. Points will transfer equally to 13 leading frequent travel programs with partners. So these include British Airways, Southwest Airlines, United, and Marriott.
There is no 0% introductory APR on purchases or balance transfers. The card’s standard APR is 17.74 – 24.74% variable. Also, the card has an annual fee of $0 introductory for the first year. And then it skyrockets to $95.
Get a look at the Ink Business Preferred Credit Card from Chase. Cardholders earn 3 points for every dollar spent on travel, shipping, internet, cable, phone and qualifying advertising with the card. So, this is up to $150,000 each year. And all other purchases earn an unlimited one point per dollar spent.
This is a Visa credit card.
Cardholders get benefits like purchase protection, trip cancellation or interruption insurance. They also get cellphone protection. And they get extended warranty coverage. And they get an auto rental collision damage waiver.
Get 80,000 bonus points when you spend $5,000 in the first 3 months from account opening. There is an annual fee of $95. You can add employee credit cards at no additional cost.
This credit card only offers 3 points per dollar to a limit of $150,000 a year. So, this is for travel, shipping, internet, cable, phone and qualifying advertising. All other purchases earn an unlimited flat rate of one point per dollar. And there is no introductory APR for these business credit cards with EIN only.
So you can get business credit cards with EIN only, but it will hinge on your credit history and scores.
Only you can select which features you want and need in corporate credit cards. So make sure to do your homework. What is outstanding for you could be catastrophic for other people.
And, as always, make certain to build credit in the recommended order for the best, fastest benefits.