Best credit card for a new LLC [Explained]

Last updated : Aug 16, 2022

What is the Best credit card for New businesses?

• Ink Business Preferred® Credit Card.
• Ink Business Unlimited® Credit Card.
• American Express Blue Business Cashâ„¢ Card.
• American Express® Business Gold Card.
• The Business Platinum Card® from American Express.
• Brex 30 Card.

What credit score is needed for a US bank business credit card?

You need to have excellent credit (i.e. a credit score of at least 750) to get the U.S. Bank Business Platinum credit card.

Can an LLC have a credit score?

Does an LLC Have Its Own Credit Score With The Rating Agencies? Yes, a business has its own credit score and credit report. When you start your business and start applying for credit, your personal credit history and score will be taken into account.

Should my LLC have a credit card?

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.

What is the easiest U.S. Bank card to get?

One of the easiest U.S. Bank credit cards to get is the U.S. Bank Secured Visa® Card, which accepts applicants with bad credit and has a $0 annual fee. The best U.S. Bank credit cards require a 750 credit score or higher for good approval odds.

Does U.S. Bank verify income for credit cards?

Do you have a job and the money to cover the full amount you charge to your card every month? Credit card companies don't typically verify income through pay stubs or tax returns. However, you will be asked to state how much you make on your application, and providing false information is illegal.

Does U.S. Bank give instant approval?

U.S. Bank can provide instant approval for their credit cards, and that happens pretty often. However, there are some cases when they need to further verify your information, and that will take 7-10 business days.

How do I establish credit for 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.

Can I get a credit card with my EIN number?

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.

Is it hard to get a business loan with an LLC?

LLC Bank Loans Banks will offer some of the most ideal loan amounts, terms, and interest rates. However, getting a business loan for an LLC from a bank generally requires strong financials and a good credit score. You also typically need to submit a fair amount of documentation in order to complete your application.

Can you 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 should I wait to apply for a business credit card?

Regardless of whether you get a “yes” or a “no,” don't apply for another card for at least six months, if at all possible. Multiple inquiries on your credit history can lower your score over time and make it even harder to get that next business credit card in the future.

Does it make sense to get a business credit card?

While your business might be in its early days and you may not think you need a separate credit card for it, business credit cards can provide important benefits to your company, including rewards you can use for virtually free travel, perks like expense management, and credit to help you grow your business.

Which bank gives credit card easily?

1. HDFC Bank instant approval credit card. HDFC Bank credit cards are not only 100% secure, but they also provide instant activation and ownership.

What credit score does U.S. Bank look at?

The credit score you see in U.S. Bank mobile and online banking is a unique score derived from the VantageScore 3.0 model to help you understand your creditworthiness. The model incorporates the same data considered by the three main credit reporting companies (TransUnion, Equifax and Experian).

What credit score do you need for U.S. Bank Platinum?

What credit score do I need to be approved for the U.S Bank Platinum? The recommended score for approval is good to excellent, which can be anywhere from 670 to 850 on the FICO scale.

What is a good annual income for a credit card?

A good annual income for a credit card is more than $39,000 per annum for a single individual or $63,000 per year for a household. Anything lower than that is below the median yearly earnings for Americans. However, there's no official minimum income amount required for credit card approval in general.

How many credit cards should you have?

If your goal is to get or maintain a good credit score, two to three credit card accounts, in addition to other types of credit, are generally recommended. This combination may help you improve your credit mix. Lenders and creditors like to see a wide variety of credit types on your credit report.

Why does AMEX want my income?

Amex wants to protect itself from anyone they feel is likely to default on payments. They want to be sure that cardholders have the income available to cover their spending habits. In the process of a financial review, Amex will request access to review specific documents that confirm your income, like your tax return.

How long does it take for U.S. Bank to approve a business account?

Standard Decision Timeline: You will receive a decision in the mail within 7-10 business days. When You'll Get Your Card: You'll receive your card within 7-10 business days of being approved, if you're approved.

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hey wallet hubbers today we'll go over how to find the best business credit cards for new llcs there are a few things to keep in mind before choosing a credit card for a new llc first and foremost the credit card company will still check your personal credit score when you apply for a business credit card it should be above 700 for the best cards and if you don't repay what you owe then you will be held personally liable second to qualify for a business credit card on behalf of an llc you generally need to be an officer or authorized representative of the llc third it might be smart to consider personal credit cards in addition to business ones especially if you're the sole employee of the llc personal cards may have more suitable rewards interest rates and fees for your needs just don't mix business and personal spending on the same account fourth it's best to use business credit cards for rewards rather than financing unless you can get a zero percent intro apr that means you should plan to pay your bill in full monthly if you get a business credit card when it comes to choosing between rewards cards focus on finding the highest business rewards rates possible for your biggest expenses for example business credit cards often offer business rewards on things like travel office supplies and advertising similarly consider cards with business extras that are important to your llc like the ability to control credit limits for each employee or built-in integrations to the accounting software that you use with all of that in mind you're ready to compare new llc credit cards today just click the button here to get started

Thanks for your comment Doreatha Hult, have a nice day.
- Kaylee Blaxland, Staff Member

well you were talking about things that are really important boss i agree i'm totally with you but the thing is in today's conversation i want to talk about something else i want to talk to you about the top 10 new llc business credit cards that approve you with no revenue if you're interested in the topic and i think you should be i want you to stick around till the end of today's conversation[Applause] [Applause] [Applause] welcome back folks to another edition of the awesome city kiwi show how are you today i hope you i hope you are doing fantastic i'm doing marvelous if you ever ask me if you are doing as great as i am go grab a cup of coffee or tea or vodka let's roll in today's conversation i want to talk to you about top 10 new llc business credit cards that approve you with no revenue but i want to say this right off the bat if you want to be approved with no revenue in any of this top 10 business credit cards you need three things three things and this trifecta is really important the first thing is you need to have a business plan i'm talking about a solid business plan don't give me a cheap ass business plan that you download from the internet and customize to based on your company no i need an original compelling business plan that's number one the second thing you need is your business licenses and permits whatever business you're in if there are licenses and permits you need to comply with those things at the state level and federal level for that matter okay and and the third thing you need you need to have and this is also very very important is to be legit you got to have a an llc you got to have a legit llc everything from registered agent services you need to have uh annual report annual reporting in other words you need to have a certificate of goods standing with your state this is really important this is those are the three things you need to have for the bank to consider your application even if you're not generating any revenue at the moment okay let's go to the rankings here number 10 we have citizens plat citizen business platinum our score is 7.5 over 10. this card we love this card this is a smart choice for managing your cash flow because the card has no annual fee it has a lower rate than a personal card and you have a zero percent intro apr for six months that's just wonderful okay and you're able to have a traditional low rate card to build credit profile and manage cash flow you're able through this card also to separate business and personal expenses think about it boss i'm talking to you boss you really want to be able to get this card if you are in that category because it will help you segregate your business expenses from your personal expenses okay so this card has a lower rates than a personal credit card you have up to 50 days of working capital with 30-day billing cycles and a 20-day settlement period combined with traditionally lower rates than a personal credit card so this is what makes this business card a smart choice for managing cash flow and the apr is kind of cool too the apr goes from 8.24 to what 19.24 fantastic number nine we have the truest business cash rewards our score 8 over 10 so this card has no annual fee you have a zero percent intro apr on purchases for nine months after account opening and after that the the regular apr will oscillate from 12.49 to 21.49 variable and if you were to ask me this is a wonderful uh this is a good deal and you have a constellation of benefits for you three percent cashback on gas two percent cashback uh on at restaurants and office supply stores up to two thousand dollars in combined spend in two percent and three percent categories per month one percent cashback on all other eligible purchases wonderful and cash rewards earned will expire at the end of the month that is five years from the date of insurance this is really good and on top of that you have a 10 25 or 50 loyalty cash bonus based on your choice business deposit relationship when cash rewards are redeemed into a choice business deposit account wonderful number eight we have the u.s bank triple cash rewards visa business our score 8 over 10. so boss with this card you can earn five percent in cash back this is just wonderful and so as a welcome offer you can earn 5 dollars five hundred dollars in cash back just spend 4 500 on the on your card in the first 150 days of opening your account okay so there are other key benefits you can earn three percent cashback on eligible purchases at gas and ev charging stations office supply stores cell phone service providers and restaurants in addition to that you can earn an annual 100 stipend credit for monthly software purchases service purchases such as fresh books or quickbooks okay so this is really good so one thing i want to say is you also have the card has no annual fee think about it this is just wonderful okay you have prepaid travel you can earn five percent cashback on prepaid hotels and car rentals booked directly in the travel rewards center from u.s bank okay and uh and what we love is that the apr will range from 14.24 to 23.24 but they also have an intro apr of zero percent so and that that is good for purchases and balance transfers over 15 billion cycles wonderful number seven we have the pnc visa business our score 8.5 over 10 so when we look one thing we love with this credit card is that you are able to maximize working capital in other words you have a zero percent in short apr on balance transfers for the first 13 billion cycles following account opening you have online account management with pnc online banking or or account review the card has no annual fee we love that and you also have so after the intro period you basically will have to cope with an apr that oscillates from 10.24 to 20.24 okay and if he already asked me this is a this is a good delta this is a good delta a good range 10.24 to 20.24 and you're able to separate you're able to segregate your personal affairs from your personal purchases from your business purchases okay and this card has a constellation of features and benefits in other words you can actually fund short-term working capital and use the car's competitive rate to minimize interest expense and maximize cash flow okay you can actually add activate or close employee cards you can make payments electronically or schedule recurring payments you can you can access up to 13 months of transaction detail you can download transactions into excel quicken or quickbooks or use csv file wonderful number six folks we have bank of america business advantage customized cash rewards our score 8.5 over 10. what we love it with this credit card is that you have a 300 step and credit bonus offer when you apply online okay in addition to that you can earn three percent cash back in the category of your choice so we're talking about gas stations that's the default category you have uh you have office supply stores you have travel you have tv telecom and wireless you have computer services or business consulting services okay talk to me about two percent cash back on dining purchases that's just wonderful

Thanks intiraymi1 your participation is very much appreciated
- Kaylee Blaxland

About the author

Kaylee Blaxland

I've studied environmental engineering at Harvard University in Cambridge and I am an expert in dynamics. I usually feel crappy. My previous job was fabric and apparel patternmakers I held this position for 4 years, I love talking about survivalism and qigong. Huge fan of Steve Martin I practice formula 1 and collect sneakers.