American express business credit card for llc [Deep Research]

Last updated : Sept 25, 2022

Can an LLC obtain a credit card?

You can get a business credit card for an LLC, as long as you are permitted by the corporation. If you aren't an owner of the LLC, you must at least be an authorized officer – in other words, legally able to sign for the company – in order to apply for a credit card in the LLC's name.

What credit score do I need to get an American Express Business Card?

If you're considering applying for the Amex Business Gold card, we recommend you have a personal credit score of at least 670 or higher — or a business credit score of at least 75 or higher to maximize your chances of approval.

Does Amex run personal credit for business card?

If you have a good to excellent score (670-850 points) your application for a business card may be accepted even if your business credit score is low or non-existent. The credit limit and interest rate on the card will then be based on your personal credit score.

Can I use my EIN to get a credit card?

In some cases, corporate credit cards don't require an SSN, meaning you can get a business card with an EIN only. Corporate cards have stricter application rules. In most cases only certain types of businesses are eligible, and your business may need to earn a certain profit margin each year.

How do new LLCs get credit cards?

1. Browse all business credit cards (I recommend CreditCards.com). Find an offer that matches your needs – like cashback, travel rewards, or 0% interest.
2. Go directly to a credible bank's website. American Express:
3. Wait for credit card offers (from reputable banks) to arrive in the mail.

How do I build credit under my LLC?

1. Incorporate your business.
2. Obtain an EIN.
3. Open a business bank account.
4. Establish a business phone number.
5. Open a business credit file.
6. Obtain business credit card(s)
7. Establish a line of credit with vendors or suppliers.
8. Pay your bills on time.

How hard is it to get Amex business?

Summary. Getting the American Express® Business Gold Card isn't difficult if you have a credit score of at least 670, consistent income, and positive payment history with at least one other card.

Is Amex business a hard inquiry?

However, similar to many of the best American Express cards, not all applicants are eligible for the welcome offer even if approved for the card. If you choose to withdraw your application at this point, Amex won't do a hard pull on your credit report.

Is American Express the hardest card to get?

Why it's one of the hardest credit cards to get: The hardest credit card to get is the American Express Centurion Card. Known simply as the “Black Card,” you need an invitation to get Amex Centurion.

Does Amex verify business income?

They will request tax returns and bank statements. What they're looking for is to make sure the income you reported on the application is true. The process typically takes 2-3 weeks, and you're assigned a specialist to talk to.

Should I have a credit card for my LLC?

Establish business credit – A good business credit score can open many financial opportunities, including better interest rates, higher lines of credit and low-interest loans for an LLC. One of the best ways to build business credit is by opening a business credit card and using it responsibly.

Who does Amex business pull from?

Which Credit Bureau Does American Express Use? American Express appears to primarily pull credit reports from Experian, but this doesn't mean it doesn't occasionally pull from one or both of the other major consumer credit bureaus as well.

Is my EIN connected to my SSN?

An EIN is not linked or associated with your SSN. As such, it provides additional personal privacy protection by using a different number than your SSN for reporting purposes. You can easily apply online for the EIN through the IRS. In addition to privacy, there are other advantages to obtain an EIN.

Does applying for an EIN affect your credit score?

This personal guarantee is a layer of security for the credit card issuer. Generally, credit card companies will conduct a “hard pull” for your personal credit report even if you apply for a business credit card with an EIN.

Can I use my EIN instead of SSN when applying for credit?

A SSN or another tax identifier is required to apply for an EIN, but once assigned, EINs can often be used on credit or loan applications in lieu of SSNs.

How long does it take for an LLC to get a credit score?

Experts say that it takes a minimum of three years to build business credit, but it's not uncommon for some lenders to require just one year in business. Within that time, all the financial activities that are tied to your company will become a part of its credit history.

Can I get a business credit card with no revenue?

Not having any business revenue yet is not necessarily a deal-breaker on a business credit card application. Applicants can enter $0 as revenue as long as they are able to list personal income later in the application.

How long does it take for an LLC to get credit?

Some experts suggest that it takes three years to build satisfactory credit for your business. However, some lenders may require only one year of a business's operating tenure.

What is a good credit score for a LLC?

Most small business lenders like to see a business credit score above 75, but local lenders may consider lower scores for small businesses or startups. Conventional consumer financing companies rarely make loans to individuals with credit scores below 500.

Can you write everything off with an LLC?

What expenses can you write off as an LLC? There is a long list of expenses that you can deduct as an LLC. Some of the main operating costs that can be deducted include startup costs, supplies, business taxes, office costs, salaries, travel costs, and rent costs.

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hey there it's mark welcome back to the channel today's video is a special one i wanted to make this video because right after i uploaded this one right here just about a week or two ago i got a flood of people messaging me on instagram i really did not think i was gonna get that many people and i'm so sorry if i've not been able to reply to your dm i'm getting about 10 to 15 a day and if i get behind at all it's just too late and i really can't go back and answer your questions and everyone's asking the same thing they want to know how to be able to get a amex business card without actually having a business so i decided i'm not just going to answer every single question and instead i'm just going to make a video on the topic i think it's an important topic and i think that is something you guys will be interested in because getting business cards is really one of the keys in winning in this credit card game of course personal cards are outstanding but even if you don't have a business you can still get a business credit card and there are tons of reasons to do so reason number one is that they don't actually report to your personal credit score so there are a lot of inherent added benefits with that it can help keep you below chase 524 while you're still out there chasing for bonuses but also just all around they're really good cards and they offer a lot of perks and benefits but if at any point you're enjoying this video please let me know by giving it a thumbs up and also make sure that you subscribe to the channel and turn the notification bell on down in the description of this video i have a ton of referrals also be sure to check out the rakitan link that i have down there right now if you sign up using that link you're going to be able to get 40 after you make a 40 qualified purchase so essentially you're gonna get a 40 item totally for free and if you adjust your settings and rackets and you can actually earn amex mr points back and i've actually earned over and 150 thousand mxmr points from racket it's a very awesome website that can offer you a ton of cashback or mr points so definitely make sure that you use that link but all right let's go ahead and get started so the first thing that i want to do is explain how you can get a business card without a business and basically there is a method that i have and essentially all you're gonna have to do is apply as a sole proprietor that is very important you don't actually need to have an llc or an s corp or anything like that you don't need all that extra stuff you can just apply as a sole proprietor with your social security number a lot of people don't understand that but trust me you can do it i've done it before and now the next thing you're gonna have to have a side hustle or a side gig that could potentially earn you money and that kind of right there is the key it doesn't have to actually earn you money today and it doesn't necessarily have to really exist right you could say that you are starting a youtube channel even though you have zero videos uploaded to the platform maybe you're working on one behind the scenes and that does technically count i got my chase inc business cash card and chase is much harder to get approved for their business cards than amex is and i got that with just 200 subscribers and earning zero dollars in ad revenue my business at the time had zero dollars in revenue and it basically had like two thousand dollars in expenses so i was essentially negative on my business but i still got approved for the inc cash card and that's because the youtube channel had the opportunity to make money down the road and amex and chase and whatnot understand that so when you're applying for a business card with amex all you have to do is have a business that could potentially earn money i spoke to one of my subscribers last night on instagram and they had the idea of making leather wallets and they asked me if that would count and i said of course that will count that is absolutely in the ballpark of working the business doesn't currently make money but that definitely doesn't mean that they can't get approved for the card because it could make money down the road and that really is the key all you need is the groundwork and the foundation of a potential business and you're in business to potentially get one of these cards couple other things that you're gonna need you're gonna need at least a 700 fico score you will probably not get approved for an amex business card with a low fico make sure it's at least at 700 but obviously higher than that is better for what it's worth when i got the bbp i had a fico of 730. and also you're gonna need solid income and it doesn't have to be from the business but it does need to be solid household income because amex knows that if you're showing basically zero dollars in revenue with your business they're gonna need to make sure that you're making money somewhere else that you can prop up and support that business since you are sold props so if you make twenty 25 000 a year and you're showing your business makes no money i don't think that they're gonna approve you you're gonna need to show at least forty thousand fifty thousand household income something in that range again for what it's worth when i applied for my bbp i was showing 120 k in household income but now i want to actually take you through the steps and show you the amex business card application process i'm not actually going to apply for a card but i just want to walk you through and show you ways that you can apply for a business credit card with amex all right so here i am on the amex website and i've got the amex blue business plus pulled up you can see the current welcome offers earn 15 000 mr points after you spend three thousand dollars in the first three months but let's go ahead and apply for this and i'll walk you through the steps okay so i'm obviously not logged in so if you were logged in it might look a little bit differently but all you're gonna have to do is type in your email address and then legal business name so what i would type in if i'm applying sold prop is my name right that's all you're gonna have to do right there in company dba you can just say your company does not have a dba if you're again applying sole prop and you don't have a physical location then it would just be your address i'm not going to type in my address it's your home address so i don't need that leaking around the internet no reason for all that so but that's all you would fill in for right there next your business phone number can just be your personal cell phone number now the next one's gonna be industry type and i mean basically you're just gonna have to find something that kind of makes sense so i just went with other and then company structure sole prop and that's basically all that you're gonna need to do if you have something that's a little bit more obvious like maybe you're doing wholesale trade then you can just fill in that but they don't actually ask a lot of information with that and most likely never have to talk to anybody anyways so i when i was doin

Thanks for your comment Daine Goll, have a nice day.
- Velia Leviton, Staff Member

please don't forget to subscribe and hit that bell for future videos thank you hey what's up guys if you a person that wants to build a relationship with american express but you have bad credit but you still would like to build a relationship with them and you have an existing business or you're getting ready to start a business well i have some great news for you with what's going on with american express but first let's do our community service and our community service lets us know that if you a person that has a job or you don't have a job and you're financially struggling and you need some financial assistance you can go to benefits.gov you can go to benefits.gov you put your personal information in there and they will tell you exactly what type of benefits you may qualify for and you can also go to usa.gov and put your information in and they'll tell you exactly what type of financial benefits financial assistance you may benefit from now let's talk about american express today american express just announced that they will be offering a new business credit card a new corporate credit card for startups and what's great about this is that this here is where it has nothing to do with your credit it has nothing to do with your credit a lot of people think that oh i can't get credit cards and stuff because of my credit that's not true i've been showing you different platforms throughout my videos of different uh companies that actually offer you credit without even looking into personal credit that's the reason i continue to tell you just focus on building the business because there's a lot of lenders out there they don't care about dun and bradstreet they don't care about a paydex score all they care about is what type of business you have and are you generating revenue in the business this is the reason that i continue to tell you guys don't be discouraged when starting your business just get started okay but here's some of the great things when trying to get america the new american express excuse me the new american express uh business or corporate credit card is that they don't do credit check this is what's happening they're going to be setting up this new system where they won't even be looking at your credit it's all off of your business what your business is doing but let me break this down into five situations all right like i said it's no personal guarantee so now a lot of people that uh have existing business starting up a business and stuff and that just need more capital to keep the business going they'll be able to go to american express and be able to apply for business credit cards corporate credit cards with american express without them looking at your personal credit which is awesome and like i said you don't need a credit score so for people again even if you're a foreigner in the u.s or whatever and you're doing business you're generating revenue in your business but you don't have a credit score this is no factor to done in brass street as a matter of fact i told you in other videos companies like paypal like square they're in stripe these are companies they're no longer focusing on the credit score they're focusing on what the business is doing that's the reason i continue to tell you start the business that's the reason three-way funding been trying to encourage you all to allow us to help you set up your business so that you can move forward we start generating revenue in that business and we teach you different uh strategies on how to start generating uh revenue in your business online now another one is that how this is going to work is that they're going to be offering you a line of credit attached to your uh corporate credit card or business credit card they'll be offering you a line of credit okay and so with the activity of what's going on in your business bank account again a lot of small business owners they don't have a proper business bank account set up that's the reason it's hard for you to get business loans and business lines of credit or business credit card because yeah you're generating revenue but majority of times they're taking a revenue from the business and they're putting it either in their pocket or they're more likely they're um putting it into a personal account because they're trying to hide information from the irs and the thing about it like i told you all the irs can be your friend and you can leverage the irs by filing your taxes on time and everything so back to what i was saying they're going to give you a line of credit through your corporate credit card or business credit card then your bank account so the amount of revenue so say that you have a uh a car wash or you may have a restaurant or food food truck or something like that even as a truck driver or whatever your trucker that's having money paid to your corporate bank account your business bank account this is what they'll be looking at they won't be looking at your personal credit so you don't have to worry about a personal guarantee now here's one of the things about it right now with this new program is going to be invite only right so more likely they're going to be looking at candidates that are already in their database that possibly have like an american express credit card or they may have a serve card that's the prepaid american express credit card that's the reason i told you about that back doorway to get him get a relationship with american express use getting a prepaid uh serve card so you can get it to the database also we talked about using amazon uh and building a relationship to amazon and then applying for the american express card plus i made a video that was telling you all the credit scores that you need in order to get an american express card okay like right now is invite only but at the same time what's great about it again they won't be looking at a personal guarantee and you don't have to have a credit score they're making it much much easier for startups and current business owners to actually get access to funding to help them continue growing their businesses and that's what i continue to tell you all a lot of people they get stuck on dunn and brad street a paydex score and i keep telling you a lot of these companies they're bypassing that they're looking at how can i build a relationship with this individual they don't want to go through a third party a processor like done in brass street you know which is helpful now don't get me wrong at one point or another if you actually need like material or something like supplies or something like that then gun and brass street may play a factor or whatever but a lot of times when getting started most people they don't need a paydex score they don't need mobs and rooms they actually need capital right and so this is what um american express is really focusing on trying to figure out how they can uh disrupt the community and get more capital to startups and everything so that's the reason i tell you if you want to learn wanna want your business set up properly or learn how to set your business up properly click the link below and check out the

Thanks Hauptware1 your participation is very much appreciated
- Velia Leviton

About the author

Velia Leviton

I've studied sports coaching at Wilberforce University in Wilberforce and I am an expert in composition studies. I usually feel full. My previous job was plasterers and stucco masons I held this position for 27 years, I love talking about archery and canyoneering. Huge fan of Ramona Singer I practice skeleton and collect autographed baseballs.