How to Get a Business Credit Card for an LLC: A Complete Guide

A business credit card can be a valuable asset for making business transactions, tracking expenses, and earning financial perks.

As an LLC owner, you might find that a business credit card is a smart financial move to build credit and get granular with your business spending and expenses. In this blog post you’ll learn how to get a business card for an LLC, and how to choose the right one.

How to Get a Business Credit Card for an LLC

Getting a business credit card for your LLC typically requires filling out an application with your preferred bank. This process could take place on-location or online, depending on the type of bank you choose.

Application Process Overview

Applying for a business credit card for an LLC is often a straightforward process, but it’s best to be prepared with all the paperwork you’ll need before you apply.

Typically the process will look like this:

1. You submit an application for the credit card online or at the bank
2. They’ll ask you to provide the necessary paperwork
3. The bank will run a credit check to make sure you’re eligible for the credit card
4. Once approved, the bank will activate your credit card and you can start using it in your LLC

Choosing the Right Card

Before you start the credit card application process, it’s a good idea to explore the options available to you.

Not all business credit cards offer the same benefits or perks, so it’s important to determine what you need in a credit card first.

Here are some important factors to consider to choose the right credit card for your LLC:

• Rewards - Most business credit cards will offer rewards and perks which can help you save money on business expenses. For example, some cards offer travel rewards such as airline miles which you can use for discounts on flights after you’ve hit various milestones.
• Interest rates - If you think you’ll carry a balance on the account associated with the credit card, it’s worth finding a card with low APR to keep interest costs down to a minimum.
• Annual fees - Some business credit cards charge annual fees, so if you do find one with an annual fee, you’ll want to be sure the perks and benefits justify this cost.
• Introductory offers - In some cases, you can receive a bonus just for signing up for a credit card. For example, you may qualify for $500 cashback after spending $5,000 in the first 3 months, but if you’re not likely to meet the criteria then this isn’t going to benefit you.

The goal is to find a business credit card that offers the most financial value to your LLC, whether that’s by reducing travel expenses, building credit, or lower fees.

What Do You Need to Get a Business Credit Card for Your LLC?

If this is your first time applying for a business credit card, the process of how to get a business credit card as an LLC might look slightly different. There are a few factors you’ll need to consider that will determine whether or not you’re eligible for certain cards.

Required Documentation

Here’s a list of documentation and information you may be asked to provide when applying for a business credit card for your LLC:

Business & personal information

• Legal business name
• Employer identification number (EIN) or social security number (SSN)
• Business address
• Contact information
• Industry and business type
• Years in business
• Number of employees
• Personal credit score
• Business registration or LLC formation documents
• Business bank account statements
• Tax returns
• Business license or permits

Financial information

• Annual business revenue - If your LLC is generating income, you may be asked to provide estimated or reported revenue
• Estimated monthly expenses - Credit card issuers will likely ask how much your business spends on expenses each month
• Personal income - If your LLC is relatively new or doesn’t produce significant revenue, it’s possible your personal income will be assessed during the application process

Exactly what you need to have with you for the application process will depend on where you are and which bank you apply with.

Credit Score Considerations

One of the most important factors in determining whether you’ll be eligible for a particular business credit card for your LLC is your credit score. Your credit score can give you more or less options for credit cards, and can also dictate the interest rates you’ll be offered.

Depending on the size of your LLC, you may be asked either to provide your personal or business credit score.

Typically, if your LLC is relatively new or doesn’t have a history of high revenue, your personal credit score will be used to determine whether you’re eligible for a credit card. Otherwise, credit card issuers will use your business credit score which focuses more on your business’s payment history with vendors and lenders.

Generally speaking, the question of how to get a business credit card for llc with bad personal credit only comes into play when your score is below 580 as the best credit card options are reserved for those with a score over 800.

Benefits of a Business Credit Card for LLCs

A business credit card can cement your status as a legitimate LLC, and help you track and streamline your expenses.

Building Business Credit

By applying for a business credit card, you give yourself the chance to build a good credit history which will help you be seen as a trustworthy borrower. When you have a business credit card and start making payments on it, you’ll begin to build a track record of trustworthiness in the eyes of financial institutions and business credit bureaus.

Payment history is the most important factor for determining your business credit score, so if you get one, and consistently make payments on time you can slowly build up a good business credit score.

Building business credit is a good idea because it’s separate from your personal credit, meaning your personal financial standing isn’t affected by your business spending.

Expense Tracking and Rewards

With a business credit card, you can also keep your transactions separate which will make bookkeeping easier and simplify tax filing.

A separate business credit card can also help you protect your LLC’s liability and avoid any potential IRS issues down the line.

Plus, if you find it hard to keep tabs on your business expenses, a business credit card can help you identify where you can cut costs.

Rewards such as cashback and points can help you get extra value from your business credit card, as you can more easily manage some of your expenses and benefit from discounts on frequently used services such as plane travel.

Manage Overseas Payments With Wise Business

If you’re looking for an easy way to manage your LLC finances in multiple currencies, the Wise Business account could be a great option for you.

Open a Wise Business account online

Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. You can open an account 100% online and there are no minimum balance requirements or monthly subscription fees.

The Wise Business account is designed with international business in mind, and makes it easy to send, hold, and manage business funds in 40+ currencies. You can get major currency account details for a one-off fee to receive overseas payments like a local. You can also send money to 140+ countries.

	Editor & Business Expert:
	Panna is an expert in US business finance, covering topics from invoicing to international expansion. She creates guides and reviews to help businesses save time and make informed decisions. You can read more useful business articles on her author profile.

	Author:
	Sam is a UK-based copywriter with 4+ years of experience writing for SaaS and eCommerce brands. He creates comparison guides, informative blog posts, and covers other finance-based topics.