Business Credit Cards for LLC | Your Free Guide

Business credit cards for LLCs can offer attractive rewards programs and open the door to future bank financing.

In this article, weโ€™re going to detail how to get the best business credit cards for LLC companies in the United States.

This article is part of our free series on how to open a US business bank account for non-residents, which you can access right now by clicking here.

Feel free to use the table of contents to jump ahead to the sections most relevant to you.

Table of Contents

  1. Business Credit Cards for LLC
  2. What Are the Benefits of Business Credit Cards?
  3. What Should I Look For in Business Credit Cards?
  4. How Do I Apply for a Business Credit Card for an LLC?
  5. Frequently Asked Business Credit Card Questions
  6. Do You Want Help Opening a US Business Bank Account?

Business Credit Cards for LLC

Business credit cards for an LLC (limited liability company) include several attractive credit card options with rewards, cashback, and other credit card benefits. Additionally, by building a business credit score, LLCs can access small business financing in the future.

In the following sections, we will look at how business credit cards can benefit LLCs, how to navigate credit card applications, the pros and cons of business cards, and what is required for the business credit card approval process.

What Are the Benefits of Business Credit Cards?

Businesses can tap into a wide range of benefits when they obtain a business credit card. These benefits range from fraud protection and ease of bookkeeping to lucrative credit card rewards programs and access to future financing facilities.

Benefits of Getting a Credit Card for Your Business

  • Separation of personal and business spending
  • Ease of bookkeeping and accounting
  • Establishing credit history for the business
  • Future access to financing and credit facilities
  • Access to lucrative credit card rewards programs
  • Ability to earn benefits through business card points
  • Protection against fraudulent purchases and theft
  • And more

Of course, the pros of having a business credit card ultimately depend on the specific type of business card you have and the rewards it offers. With this in mind, letโ€™s look at some of the features you should look for when choosing business credit cards to apply for.

What Should I Look For in Business Credit Cards?

There are several key features to look for in business credit cards. Not surprisingly, these are features that will help businesses and LLC owners tap into the benefits listed above. With this in mind, let’s take a look at a few of the key features to look for in a business credit card for your LLC.

Credit Card Business Rewards

Credit card rewards programs tend to be very attractive for business cards. This is because businesses tend to have higher expenses and charge more money to their cards. Likewise, businesses are less likely to change cards after they have chosen a business card. As a result, businesses tend to be valuable customers so credit card companies can offer LLCs that sign up for a credit card more lucrative rewards programs.

Credit Card Business Points & Cash Credit Rewards

Similar to credit card rewards programs, credit card companies are also able to offer businesses more attractive points programs, travel rewards, and cash credit rewards. Again, this relates to the buying power of businesses and their attractiveness to credit card companies.

Low Annual Business Credit Card Fees

Lastly, while rewards programs and points are useful, finding business credit cards for your LLC that offer benefits at a low cost is essential. This is especially true when considering business cards that offer many lucrative benefits, as they can typically come at a significant annual fee.

Of course, after you confirm the features you are looking for in a business credit card, the next step is to apply for the business card you want your LLC to have. With this in mind, letโ€™s explore the process of actually applying for a business credit card now.

How Do I Apply for a Business Credit Card for an LLC?

The first step in applying for a business credit card for your LLC is choosing the specific financial institution and card that you want to apply for. Next, you will need to go through the standard application process.

In most cases, if you are applying for a business card at a financial institution where you already have an account, the application process will be more streamlined. On the other hand, if you have not held a credit card with the institution before, you will need to provide additional information. This is especially important if your LLC has a limited credit history and is applying for a business credit card for the first time.

Here is a look at the specific requirements you will need to meet to apply and be approved for a credit card for an LLC.

Requirements for Getting Business Credit Cards

  • Corporate registration documents
  • LLC Employer Identification Number (EIN)
  • Company address
  • Company contact information
  • Financial history of the business
  • Details about business activities
  • Personal credit history (not always required)
  • Personal guarantee (not always required)

After you complete the application process, you will need to wait for the bank to respond. If they approve your application, you can then activate and start using the credit card and begin collecting points and rewards.

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Frequently Asked Business Credit Card Questions

Below are a few of the most common questions we receive from people looking into business credit cards for an LLC. If you have further questions you would like to ask our team, donโ€™t hesitate to get in touch.

Why Should I Get a Credit Card for My Business?

There are several reasons to get a credit card for your business. One of the main reasons is it helps build a credit history, which presents opportunities to qualify for business financing in the future. Additionally, due to higher spending of companies over individuals, many card issuers offer attractive incentives, which can make it a lucrative opportunity.

Does LLC Business Credit Affect Personal Credit?

Whether LLC business credit affects personal credit scores depends on the type of credit, how it was qualified for, and whether the individual is a cosigner or personal guarantor. However, generally speaking, if a business has its credit profile and qualifies on its own for credit products, it should not impact personal credit.

Is It Hard to Get a Credit Card for a New Business?

Yes, it is hard to get a credit card for a new business. In most cases, acceptance depends on business activities, the existing bank relationships, and the credit history of the member(s) of the LLC. This last point about the credit history of the member(s) is especially important because a new business can use the credit history of the member(s) to qualify for a credit card initially.

Is LLC Credit Different From Personal Credit?

Yes, LLC credit is different from personal credit because your business has a distinct legal identity and tax identification number from you personally. With this in mind, it is possible to establish a separate good credit history for your business from yourself personally.

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