Reasons Credit Card Companies Turn Down Applicants. Small business credit card applications may be turned down for a wide range of reasons. It can be something as simple as a phone number not matching your credit report, or the issue may be more complex. Don't give up hope right away.
You can apply and get approved for as many small business credit cards as you want without worrying about going over the limit of 5 new accounts in 24 months.
Most small business owners who apply for business credit cards apply using their personal credit, not their business credit. Because of this, if a business owner's credit report isn't in good shape – with a score of at least 640 to 700, depending on the card they're applying for – they may be denied.
What's the easiest business credit card to get?
Generally, the best small-business credit cards require a score of 670 or higher. While you might be able to qualify for a card with a lower score, you'll likely pay a higher interest rate or earn fewer rewards. When it comes to getting a small-business loan, banks have higher approval requirements.
The short answer is yes: you can apply for certain business credit cards using just your EIN. EIN-only cards are great for building your business credit, and they're a huge help when it comes to keeping your personal and business expenses separate. ... In other words, most small businesses don't qualify.
When you apply for a new business credit card, it typically shows up on your credit reports as a hard inquiry, regardless of how it reports afterward. This could temporarily ding your credit, but it doesn't necessarily indicate the issuer will report the card's activity to consumer credit bureaus.
Here's how you go about getting your first business credit card.
Here are some of the highest credit card limits right now:
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