Businesses that don’t have access to a social security number can still get credit cards in 2023. You can generally get these cards using your business’s employer identification number or EIN. Corporate cards are among the few business cards available with only an EIN.
In 2019, 53% of businesses registered using credit cards as an external funding source, and 80% of companies expected to face financial difficulty in the next 12 months, citing credit availability as a pain point.
In 2020, 21% of businesses strived for funding via business credit cards, which is expected to increase. Easy access to these credit cards with just an EIN will make it easier for businesses to handle their finances with less hassle.
Businesses should carefully compare different card providers and review all terms before applying for a business credit card that uses only an EIN.
Below are some of the Corporate & Non-corporate Business Credit Cards That Use EIN Only for application.
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Corporate business credit cards
A corporate business credit card is a great option for business owners who want to build their credit history. Many corporate cards don’t require a personal guarantee, so you won’t be held liable for any debt your business accumulates.
Corporate cards have stricter application requirements than personal credit cards, so you’ll need proof of your business’s financials. The approval will depend on your business’s creditworthiness, not your personal credit score.
So, only a handful of businesses will qualify for the best corporate cards with the highest credit limits. Some lenders extend business credit cards to C-corps, S-corps, LLCs, and LLPs with a solid business credit history in the United States.
You may not qualify for the best corporate cards if you’re starting. However, some entry-level corporate cards can help you build your business’s credit history.
You can apply for business credit cards with an Employer Identification Number.
1. Ramp Card
Ramp Card is one of the best business credit cards that use EIN only (without SSN). It offers several helpful resources and benefits to businesses looking to streamline their finances.
The ramp helps thousands of companies control spending, save time, automate busywork—and save an average of 3.5%.
While doing so, it earns unlimited 1.5% cash back on all purchases and includes perks like spending controls, forecasting tools, and automatic receipt matching.
To obtain a Ramp Card, you must have at least $75,000 in a business bank account and link that accounts to your Ramp Card when you apply.
With this card, businesses can easily track their financials without having to worry about a lot of administrative work.
This makes it easier for them to keep their finances organized while still being able to take advantage of discounts, rewards, and other benefits associated with using the card.
2. Brex Card
The Brex Card is an excellent option for businesses looking for a credit card that can be obtained using only an EIN. To qualify, you’ll need a bank balance of $50,000 or $1 million if self-funded.
The card offers an impressive welcome bonus and industry-leading rewards points, including
- 7x on rideshare,
- 4x on Brex Travel,
- 3x on restaurants,
- 2x on software subscriptions and
- 1x on all other transactions.
It also provides 3x rewards points on eligible Apple purchases made through the link or Brex dashboard.
Other corporate cards such as Divvy, Expensify, and Stripe can be applied for using only an EIN.
Still, they may be easier to obtain compared to major card issuers like American Express, Capital One, and JP Morgan Chase, who offer corporate cards best suited for large corporations with high revenue.
A secured business credit card that uses EIN only
A secured business credit card that uses an Employer Identification Number (EIN) is a great option for business owners with bad credit who need to meet the requirements for a corporate card.
These cards require a taxpayer identification number, either a Social Security number or Individual Taxpayer Identification Number, but do not rely on your credit score or credit report.
With a secured card, you’ll need to make a deposit that will serve as collateral for your credit limit.
Your deposit will usually determine your credit limit, but some secured card issuers may increase your credit limit without requiring an additional deposit as you demonstrate responsible credit use.
This can help build up your business credit score over time and gain access to better financing options in the future.
3. First National Bank Business Edition Secured Mastercard Credit Card
The First National Bank Business Edition Secured Mastercard Credit Card is an ein-only business credit card that provides the perfect solution for companies looking to build or establish their business credit.
This card reports your activity to Dun & Bradstreet, a leading business credit bureau, so on-time payments can help you build your business credit score.
To get this card, you will need to go through a credit check on your personal credit report and make a security deposit between $2,200 and $110,000 in multiples of $50 which determines your credit limit.
The annual fee for this secured business credit card is only $39. With this card, businesses have access to a secure line of credit while also building their business credit score over time.
4. Bank of America Business Advantage Unlimited Cash Rewards Mastercard Secured credit card
The Bank of America Business Advantage Unlimited Cash Rewards Secured credit card is a terrific option for businesses that need a credit card with just their EIN.
This card earns unlimited 1.5% cash back on all purchases and demands a security deposit of at least $1,000 to open the account, which will equal the credit limit.
Bank of America may periodically review the secured card and upgrade the user to an unsecured one if they qualify.
Another perk is no annual fee associated with this card, so you can enjoy the rewards without worrying about extra fees. This is a great solution for enterprises looking for secured credit cards that use only their EINs.
Corporate store credit cards
Corporate store credit cards can be a great tool for businesses to build credit.
Most corporate store credit cards mandate a personal guarantee, meaning the issuer can come after your personal assets if you default on the card.
However, some corporate store credit cards are issued without a personal guarantee, so only the business is accountable for the debt.
This card type might be an appealing option for businesses that don’t qualify for traditional business credit cards or have limited access to established financing options.
Corporate store credit cards can also be issued using an Employer Identification Number (EIN) instead of a Social Security Number (SSN), which makes them more unrestricted to businesses with poor or limited credit history.
These corporate store credit cards don’t report to the significant personal credit bureaus, but they can still be used to make
Corporate gas cards
Corporate gas cards are a perfect option for businesses that spend much money on gas.
Many of these cards don’t mandate a personal guarantee, so the business won’t be held liable for any debt it accumulates.
The approval process is often more precise than a corporate credit card because the issuer only requires your business’s financial information to be provided.
If you have a good business credit history, you should be capable of getting approved for a corporate gas card.
An example of such a card is the Shell Small Business Card, which can be used at any Shell station and does not require a personal guarantee but requires your business to have annual revenue of at least $1 million to apply for the card.
Corporate gas cards that use EIN only are great for establishments that need to buy gasoline without relying on personal credit bureaus.
What is an EIN, and how does it work?
An EIN is an Employer Identification Number. It is a nine-digit number assigned by the IRS to identify businesses for tax purposes.
An EIN serves like a credit card without a personal guarantee, and businesses can use it to open a business line of credit with a financial institution.
This enables enterprises to access funds when needed and make purchases on behalf of their business or organization.
With an EIN, firms can also set up payroll accounts, apply for business licenses, file taxes, and obtain other important documents connected to their business operations.
Businesses are required to have an EIN to execute certain types of transactions, such as opening bank accounts or applying for loans or grants.
EIN equips businesses with the ability to establish themselves financially and legally in the eyes of the government and financial institutions.
Why Would You Need an EIN?
There are many reasons why you want an EIN for your business. Some of the most common causes include the following:
• To file your business taxes
• To open a business bank account
• To apply for credit cards and loans
• To hire employees
• To register with the IRS
There are many reasons why you might need an EIN for your business.
How Do I Get My EIN Number?
An Employer Identification Number (EIN) is a unique nine-digit number assigned by the IRS to identify businesses.
It is used for tax filing and reporting purposes and is essential for any business or organization that wants to open a bank account, hire employees, or file taxes.
Getting an EIN is relatively easy – all you need to do is fill out IRS Form SS-4 to obtain your EIN.
You can apply online using the IRS website or call their toll-free line and complete your application over the phone. You can also submit the form via fax or mail if needed.
Once you’ve applied, the IRS typically takes around two weeks to process your request and assign you an EIN. Once you receive your number, be sure to keep it in a safe place, as it will be required for all of your future business transactions.
What are the advantages of having business credit with only an EIN?
There are several benefits to having business credit, even if you only have an EIN. Below are some of them.
Streamlined Access to Financing
Access to business credit with just an EIN allows you to streamline your access to financing.
You can apply for funding with a range of lenders and have the loan decision made quicker due to the reduced amount of paperwork and documents needed.
This means you can get financing options faster, allowing you to grow your business more efficiently.
Having business credit with just an EIN can help to improve your creditworthiness.
By utilizing the right tools and resources, you can build a strong credit profile for your business that lenders and vendors will recognize.
With a good track record of promptly paying bills, you can access better financing options and lower loan interest rates.
Enhanced Credibility with Vendors
Having business credit with just an EIN can increase credibility with vendors, as it demonstrates the ability to borrow money and pay on time.
This improved credibility can open more opportunities for businesses to access different types of products and services from vendors that may require some form of credit approval.
With a strong business credit score, companies will have increased chances of being approved for better terms and competitive rates from vendors.
Reduced Risk for Personal Assets
Having a business credit line with just an EIN can be incredibly beneficial, as it helps to reduce the risk of personal assets.
Any debt accumulated in the business’s name will not affect personal assets such as your home or car when a company goes through hard times.
As a result, you have more peace of mind knowing that you are taking on less financial risk.
Increased Buying Power
Having business credit with just an EIN can help increase buying power. This means that the company has access to more prominent lines of credit and can purchase more products or services at a lower cost.
This benefit can help businesses save money on operational costs, as they can acquire more goods or services at a discounted price.
Can I get a secured business credit card with an EIN only?
Yes, secured business credit cards can be a good option for business owners with bad credit who want to build their business credit score.
By making on-time payments and keeping credit utilization low, you can demonstrate creditworthiness and qualify for unsecured credit in the future.
However, it’s important to remember that secured cards typically have higher fees and interest rates than unsecured cards.
Should you apply for a business card with your social security number?
When evaluating whether to apply for a business credit card with your social security number, it is crucial to weigh the pros and cons.
Applying for a business credit card without providing your social security number can be beneficial as it can prevent any likely identity theft or fraud.
A small business credit card may also provide more rewards and benefits than a personal credit card.
However, if you are applying for a business credit card, the issuer may require your social security number to verify your identity and assess your eligibility for their services.
Ultimately, it is up to you whether or not you feel satisfied providing your social security number when applying for a business credit card; however, it is essential to consider all the associated risks before making this decision.
As a small business owner, obtaining a business credit card can be challenging.
Still, there are choices known to you. Secured business credit cards and secured personal cards are two choices that may work for your situation.
Eventually, whether or not to use your social security number when applying for a business credit card is a decision only you can make.
Do you have any other queries about business credit cards? Let us know in the comments below.
u003cstrongu003eDo I need a social security number to get a business credit card?u003c/strongu003e
No, As a small business owner, you do not need a social security number to obtain a business credit card. There are multiple options available that do not require a personal guarantee or SSN; however, some cards may necessitate either of the two.u003cbru003e
u003cstrongu003eWhat is the most straightforward business credit card to get approved for?u003c/strongu003eu003cbru003e
You can quickly get approved for a secured business credit card. This type of credit card requires a security deposit, but it is an effective way to build your business credit. A prime example is the Wells Fargo Business Secured Credit Card.u003cbru003e
u003cstrongu003eShould I use my social security number when applying for a business credit card?u003c/strongu003eu003cbru003e
When applying for a business credit card, it is critical to evaluate whether or not you should use your social security number. u003cbru003eWhile using your SSN may make the application process easier and faster, it can also put your personal information at risk. u003cbru003eInstead, it would help if you opted for business credit cards with an EIN (Employer Identification Number). This will help build business credit without risking your identity and financial information. u003cbru003eBusiness credit cards with an EIN are evolving increasingly popular with entrepreneurs and small business owners due to their added protection. u003cbru003eEventually, the decision is yours; however, taking the extra step to protect yourself from identity theft may be well worth it in the long run.u003cbru003e
u003cstrongu003eWhat are some alternatives for small business owners to get a business credit card?u003c/strongu003eu003cbru003e
Some alternatives for small business owners to get a business credit card include secured business cards and secured personal cards. Secured business credit cards require a security deposit but can be a great way to build business credit. Wells Fargo Business Secured Credit Card is one such example.u003cbru003e
u003cstrongu003eCan you apply for a business credit card with an EIN?u003c/strongu003eu003cbru003e
Yes, you can apply for a business credit card with an EIN. Some business credit cards require a social security number, but there are also some alternatives for small business owners to get a business credit card. Secured business credit cards and secured personal cards are two such options.u003cbru003e
u003cstrongu003eDo you need LLC for a business credit card?u003c/strongu003eu003cbru003e
No, you do not need LLC for a business credit card. Even partnerships can get business credit cards. However, some business credit cards require a personal guarantee or SSN. Consider a secured business credit card if you want to avoid using your social security number when applying for a business credit card.
- As a personal finance and credit cards expert, I provide valuable insights and advice on budgeting, saving, investing, and debt management. I am also an expert on credit card rewards programs and help readers make informed decisions about which cards are right for them. My goal is to help people improve their financial literacy and make better financial choices.
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