How to Fill Out a Business Credit Card Application

Business credit cards offer a revolving line of credit for business expenses. These cards help separate business finances from personal ones, which can simplify accounting and tax preparation. They also provide a means to manage cash flow, earn rewards tailored to business spending, and build a credit history for the business itself.

Information Needed Before You Apply

Gathering necessary information streamlines the business credit card application process. Applicants need to provide both business-specific details and personal guarantor information. For the business, this includes the legal business name, any “doing business as” (DBA) name, physical address, phone number, and email address.

The business structure (e.g., sole proprietorship, partnership, Limited Liability Company (LLC), corporation) is also required, along with the industry type and the number of years the business has been operating. The Employer Identification Number (EIN) is crucial, though sole proprietors may use their Social Security Number (SSN) if they do not have an EIN. Applicants must state their annual business revenue, which is the gross income before expenses and taxes, and sometimes an estimate of monthly spending on the card.

For the personal guarantor, the application requests their legal name, date of birth, home address, and SSN. Personal annual income is also a common requirement, as it helps assess the ability to repay the debt. Issuers perform a hard inquiry on the applicant’s personal credit report, so understanding one’s personal credit score is beneficial.

Navigating the Application Form

Accurately inputting details into designated sections is key when navigating the application form. The “Business Information” section requires the legal business name, ensuring it matches official registration documents, along with the business address and contact details. Accurately select the business type and industry, as this helps the issuer categorize the application. The Employer Identification Number (EIN) or, for sole proprietors, the Social Security Number (SSN), is requested in the tax identification field.

The “Personal Guarantor Information” section is where the owner’s personal details, including their SSN and personal income, are entered. Most business credit cards require a personal guarantee.

In the “Financial Details” section, report the annual business revenue, which is the gross income before any deductions. Some applications may also ask for estimated monthly spending. Ensure consistency across all fields, such as matching addresses or legal names, to avoid processing delays or rejection. Double-check all entries for typos before proceeding.

Submitting Your Application

After completing the business credit card application, the next step is submission. For online applications, review a summary of the entered information on a final screen. Applicants agree to terms and conditions by checking a box and may provide a digital signature. Clicking the “submit” button then sends the application to the issuer.

For physical applications, print and sign the completed form, attaching any required supporting documents. These physical applications are then mailed to an address provided by the issuer. Regardless of the submission method, a careful final review of all details before sending the application is important to ensure accuracy and completeness.

After Application Submission

Once a business credit card application is submitted, the issuer begins its review. Processing times can vary, from instant approvals for online applications to several business days or weeks for manual reviews. During this period, the credit card company conducts credit checks, performing a hard inquiry on both the business’s credit history (if established) and the personal credit of the guarantor.

Issuers may request additional documentation, such as tax returns, bank statements, or business licenses, to verify the information provided. They may also conduct verification calls to confirm details. Applicants are notified of approval or denial via email, postal mail, or through their online application portal. If approved, the physical credit card is usually mailed within 7-10 business days. Instructions for activation and setting up online account access are provided. Some issuers may offer immediate access to a virtual card for online purchases before the physical card arrives.