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Business Credit Cards

There isn't any difference between this and your personal credit card apart from the fact it is going to get charged to your business.

However, some companies out there offer "business" credit cards which they require a person guarantee for. These institutions will often ask for a personal guarantee, and will almost always ask for a social security number from the person applying for the card. If this is the case, the credit card is not a business credit card, but is simply a personal credit card which is used for the business. You are reliable for the bills - not the business.

When applying for a credit card for your business, watch out for areas asking for your SSN (and not your TaxID or EIN) and be wary of any credit card that asks for a personal guarantee. By ensuring that your credit card is in the name of your business, you can help to build your business' credit, while avoiding creating problems with your own.

There are lots of different business credit cards out there so you need to check the details like you would for your personal credit cards.

With any credit card we would always suggest you try and pay the balance off directly each month, and choose a card that has no yearly fees for using it. These cards will usually have two names on them - one the name of the person who is using the card and one the name of the business it belongs to. Obviously as a company there can be multiple cards in existance, so a different name on each card makes it easy to know who in the company has carried out a particular transaction.


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