Many readers are not familiar with the business credit card. There is one common misunderstanding that you must register a company before you can apply for business credit card. This is not true. Actually, if you have sold a used book on eBay, constructed a website, or even just have an idea to start a business, you are qualified for one type of business card, we call it small business credit card.
To apply for a small business card, you must be clear that:
- you are entitled to have business activities in the US (which means you are not under some specific visa status, such as F-1)
- When you apply, you need to choose “Sole Proprietorship” as your company structure.
- You can use your SSN as your Tax ID
For myself, a good business card will give me more rewards with less costs. Therefore, I like to choose a card without annual fee, having 0 APR for at 12 months (this is very important for cash flow as it means no-interest loan), and of course having good earning structures.
Using these criteria, I have 2 cards for beginners.
- Earn Unlimited 2% CASH BACK on every purchase.
- $200 cash bonus (20,000 points equivalent) when you spend $1,000 within the first 3 billing cycles after account is opened.
- No Annual Fee.
- Earn 10,000 Bonus Points every Anniversary with $10,000 annual spend.
- 0% introductory APR on purchases and balance transfers for the first 12 billing cycles after account is opened.
- 15000 American Express Points
- Everything 2X points for the first 50,000 spending every year (After that 1X point)
- No annual fee
- 0% introductory APR on purchases for 12 months from the date of account opening.