Key Takeaways: Getting a Business Credit Card Without Owning a Business

Business Credit Cards: How to Get One Without Owning a Business

If you work for yourself as an independent contractor or freelancer, or if you have a side hustle, you may be wondering if you are eligible for a business credit card. The good news is that in most cases, you can qualify for a business credit card even if you don’t have a traditional business.

Any income-producing endeavor can be considered a legitimate business for a business credit card. This includes activities such as running a dog-walking business, buying and selling on eBay, working as a virtual assistant, driving for ridesharing apps, and more. If you earn money from the work you do, you may be able to qualify for a business credit card.

When applying for a business credit card without a traditional business setup, you can list yourself as the sole proprietor and use your Social Security Number instead of a tax ID number. You may need to provide information such as your annual business income, monthly expenses, business structure, and more. Some card applications may require you to mail in additional documents for approval.

Business credit cards offer unique perks, including rewards on business expenses, the ability to keep personal and business spending separate, and the opportunity to build your business credit score. By using a business credit card, you can also take advantage of specialized perks and benefits tailored to business owners.

While using a business credit card for personal expenses isn’t against the law, it may violate the terms of your card agreement and result in penalties. It’s important to keep personal and business expenses separate to avoid potential issues.

Before applying for a business credit card, consider the pros and cons of different cards and choose one that best meets the needs of your unique business. By managing your card properly and paying your bills on time, you can protect your business credit rating and take advantage of the benefits that come with a business credit card.

Overall, business credit cards can be a valuable tool for managing your costs and making your work life easier and more profitable. Whether you have a casual side gig or a full-time freelance profession, the right business credit card can help you stay on track and get ahead.