Why you should consider getting a business credit card.

Numerous business credit cards provide rewards and benefits that rival, and in some cases surpass, those offered by premier personal credit cards. Business credit cards frequently feature substantial sign-up bonuses, exclusive category spending incentives, and a variety of additional perks.

Despite this, there exists a reluctance among certain individuals to acquire a business card, even if they meet the criteria for a business credit card application. It is important to note that lacking a formal business entity does not disqualify one from obtaining a business credit card. In fact, whether you are a freelancer or embarking on a side venture, there are compelling reasons to consider obtaining a business credit card and incorporating it into your financial portfolio.

What are the benefits of acquiring a business credit card?

Chase implements the 5/24 rule, which dictates that obtaining 5 credit cards within a 24-month timeframe, irrespective of the provider, disqualifies individuals from applying for additional Chase credit cards (both personal and business) until they drop below the 24-month threshold. It is important to note that most business cards are exempt from this restriction.

To navigate the 5/24 policy effectively, it is recommended to alternate applications for business cards with those for personal cards. Moreover, transactions related to business cards typically do not impact your personal credit report.

Do you qualify for a business credit card?

This misconception often confuses individuals who believe that obtaining a business credit card necessitates having an established incorporated business with a dedicated tax ID number or employee identification number, or even a physical store. Contrary to this assumption, eligibility for a business credit card may be within reach even without prior awareness.

Examples of potential qualifying activities include:

• Dog walking and pet sitting services
• Retailing on platforms like eBay, Facebook Marketplace, and Etsy
• Offering tutoring, coaching, or music and language lessons
• Providing snow removal, yard work, or lawn care services
• Establishing a baking enterprise
• Driving for transportation network companies such as Uber or Lyft
• Running a craft-base

To successfully complete a business credit card application for your side business, ensure the following details are accurately provided:

• Business Name, Card Name, and Mailing Address: Your name and residential address
• Tax ID Number: Your Social Security Number in the absence of an Employer Identification Number (EIN)
• Business Type: Sole Proprietorship
• Business Category, Number of Employees, Years in Business: Provide truthful responses
• Authorizing Officer: Owner
• Gross Annual Income: Include both your household income and earnings from your side business

Upon submitting your application, you may receive instant approval or encounter a message indicating that you will be contacted later.

Do not be overly concerned if you encounter a “we’re reviewing your application” notification. Personal experience shows that despite receiving this message consistently, approval typically follows within approximately a week.

We have successfully obtained business credit cards for our “side hustle,” which involves selling items on Facebook Marketplace and other local online markets. During the application process, we provided truthful responses to all inquiries. Despite generating approximately $3,000 in sales annually through this venture, even modest side businesses can meet the criteria for acquiring business credit cards.

How to Maximize Welcome Bonus Opportunities for Chase Ink Credit Cards

If you sign up for the Ink Business Cash® Credit Card, you will earn 75K Chase Ultimate Rewards® Points after spending $6K in the first 3 months. If you refer your spouse (player 2) for an Ink Business Cash® Credit Card, you will receive 40K referral points. Your spouse will earn 75K Chase Ultimate Rewards® Points after spending $6,000 in the first 3 months. Total annual fee for 2 cards will be $0 and total points earned will be 190K Ultimate Rewards® Points.

Any Questions?

If you have any inquiries, uncertainties, or if you feel overwhelmed, please feel free to contact us. Whether it’s to seek clarification, share achievements, or simply to connect, your engagement is highly valued and appreciated.

Betty and Lee

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