EIN & ITIN
In this article, we are going to talk about how you can get business credit cards using your EIN only that’s not linked to your social security number (SSN).
Just as you have an SSN, your business has its own identifier which is called an Employer Identification Number (EIN).
An Employer Identification Number is a nine-digit number is issued by the Internal Revenue Service and assigned to U.S. businesses for tax and reporting purposes. An EIN is required for several reasons:
Just as you can build credit for your SSN, your business can also build credit for its EIN. When done properly, your business can qualify for credit based on this EIN not needing your personal guarantee. So, think about like this:
Well, business credit cards work fundamentally the same way on the application credit you can decide whether you want only your EIN credit to be evaluated, or both your SSN and EIN credit. If your EIN has an established credit profile and score, it can often stand alone and qualify without the personal SSN credit check, meaning you don’t even need to put the social security number on the application. There is no credit check and guarantee because all that’s being evaluated for the approval decision is your EIN.
So, when all these happen, you can get approved without a credit check or guarantee. Because again, you never even supplied the social security number for the actual approval. Now the important points to know are to avoid the credit check and guarantee, you must leave your SSN off the application, so for approval credit issuers will want to see that you have a solid EIN credit profile with good business scores.
You will need to start with starter vendors that will prove you for initial credit and report it to the business credit reporting agencies (CRAs). You will not be approved if you go to a bank or store first. You have start business credit with vendor accounts who offer net 30 terms, then give them up to 90 days to report your new accounts after you use them and pay your bills.
With 5 accounts you can then start getting actual store credit at places like Lowes, Amazon, Walmart and more… And with a total of 10 accounts, you can start getting actual cash credit cards such as Visa Card, Master Card or American Express Card you can use anywhere. Typically, starting out you can get 5 to $10,000 limits and build from scratch your business credit.
To obtain an Employer Identification Number (EIN), filling out Form SS-4 is required. It is a one-page long-form and essential during filing your EIN application. Here is some requested information on the Form SS-4:
Do not worry, your EIN application will be quite easy through our consulting. Please feel free to ask for help anytime, from anywhere in the world. Get your EIN in the fastest and cheapest way: [email protected]