How to Apply for Business Credit Cards

By obtaining a business credit card you have a financial backup in the event of emergencies such as repairs and/or equipment purchases. This extra line of credit aids you in establishing credit for your business. This credit opens several doors when it comes to your business and finance options. 

1. Ensure that your finances are in order. Your credit score should read 750 or more. If your credit score is below 750 you should take steps to increase your credit score. For instance you could pay off all negative listings on your credit report. Once these negative listings are paid off you should write the creditor to have the listing removed from your reports. 


2. Determine which type of business credit card you prefer. Your options are Visa, Master Card, American Express and Discover. With the Discover card there is an award of 1% cash back on purchases and American Express cards have the option of paying them off each month. 


3. Review credit card programs for businesses. If you use a credit union it is possible to get a business credit card through the credit union. If you do not use a credit union consider reading about different options for business through major credit card companies. 


4. Avoid accepting a business credit card with a high interest rate. 


5. Read the fine print before you accept a business credit card. All credit card companies are required to send you a disclosure of their fees. These fees include annual fees, participation fees, over the limit fees and late charge fees. Avoid accepting credit cards that have annual and/or participation fees as these are unnecessary fees. 


6. Complete the paperwork provided by the credit card company. This paperwork is usually a simple form asking for information that identifies you and information pertaining to your income. As a business owner you are required to provide proof of your income. This varies from one credit card company to another. Upon approval the credit card company will issue a credit card in your business name and mail it to you.