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Do you actually need a business to open a business credit card? That is the question we are asking in today’s video.
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44 comments
Question: can I combine points from my chase personal accounts and chase business accounts? Big consideration for me.
I literally recorded a video on this topic over the weekend. Comes out tomorrow … everyone needs this type of information 🙌
dont apply for Chase ink preferred now, if you don't have legit business, or even if you have one. After covid outbreak from April, it has been extremely difficult to get approval
You look like Wolverine
Can't wait for Chase to start offering ink referrals again
Came out just in time!!!!
Let's say someone is a vlogger then all personal trips could be vlogging material ergo business expenses?
I have a business and got approved for a Chase Ink card over a year ago. When I apply for second Chase business, I was denied by Chase.
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I have a rental property, which IS a business – there’s an idea for some people – rent out your garage..etc.. air BNB
It would be good to do an analysis of the websites interfaces of those cards, specially because for business people what matters is the capacity of the card to help to categorise expenses
Thank you ive been trying to find good information on this
Worked for one of business credit card companies selling small, business cards, for many people asked this question, and every response was you need a business to apply because an federal tax id is required to apply though there isn't anyone preventing you from using personal expenses on business card but separating your expenses makes it easier come tax time.
Personal Guarantees though.
I got the BBP as my first business card and got denied right away. (740 score) Quick phone call to Amex and they had no problem approving me after I explained what my business was. (I develop mobile apps)
I had a question I'm trying to get a business credit card I do not have my entity file because I'm generating money but I'm not generating a lot of money I do have an EIN I do have a but I wanted to start putting my business credit do I have to have a business bank account in order to start doing that and what would you recognize start for a new business I deal with food catering / food prep
Would a vending machine business count 🤔
What would you say are the best business credit cards for someone to get with scores just above 700? I do have a business, but I was declined for the Inc card.
I've been freelancing for the last few years as a web developer and it just hit me that I do actually qualify for a business card. Am I an adult now?
Super helpful video, thank you!
Excellent video. I am planning on getting the Ink Unlimited soon to charge expenses for my website, along with a Chase Military business checking account (free for veterans). I started my business just as the pandemic hit using the cashback card I had at the time (earning 1% – OUCH 😣😣), before I learned about credit/business from folks like you, Ask Sebby, TPG, & ListenMoneyMatters.
I know Chase has tightened standards on most business card applications of late, but do you know if they've relaxed a bit lately? I am planning to file as an LLC anyway (for many reasons), and that will surely help if I've set up a Chase business checking account and have my LLC papers/EIN in hand.
I think it was this channel (and another one), that introduced me to the American Express Trifecta ~2 years ago. The primary / everyday card is the American Express Blue Business Plus. Thought that card wasn't in reach since I don't run a business. But as I continued to watch video, learned that eBay, etc counts as a sole proprietorship. After some thought, I decided to go for the American Express Blue Business Plus.
I applied. Entered my SSN number and for revenue, I entered – I can't remember, either $200 or $300 per month since I do sell things on eBay. Got approved for $2,000 credit limit. That limit was tight but workable. I had to pay off the card every week to be able to continue to use the card as I kept nearing the limit with spend each week. After about 2 or 3 months, my limit was raised to $6,000. That fit well and was able to transition paying my card off every 2 weeks … basically, giving me breathing room. Since it only reports to Business Credit Bureaus, my personal credit score shows a very low utilization since most of my spend is on the American Express Blue Business Plus for those sweet sweet 2x points.
To be honest, yes – I use my American Express Business for everyday expenses – including personal; I'm a sole proprietorship. However, if ever fully commit myself to running a true business, I would re-evaluate how I use my business cards.
Hey Credit! I have a question. I have the gold AMEX card and I got the sign up bonus, if I were to sign up for the platinum card would I get the sign up bonus?
You need a busimess to get a business checking acct.
Being that I've been a victim of identity theft and my credit is TRASHED how can I go about getting my credit re-established? Also I've tried to get some secured credit cards and been denied cause of my credit score and the identity theft, so what would you recommend for me to do?
I paid £13 to set up a business in the UK to get the Amex Platinum for business
So you saying if I DoorDash on the side, I can apply for a Business CC🤔. That's cool, I didn't know that.
Was I the only one that 😆 when he showed that old car? Lol?
Thanks for your video, really made me consider the advantages of keeping business credit cards in mind. Loving the content!
I wanna watch this video all day
Thank you.
I’m assuming I should be good because I’m a Amazon Flex Driver, and I use my personal vehicle.
You need a business in order to get a card. I’ve tried many times and been declined many times and I’ve been a member with them for 3 years already. NO social security number doesn’t work when it asks you for your tax ID business number. You need legit paperwork and money flow. And if you are an existing member IT will count as a hard inquiry. They don’t count it as a soft when you apply for a business card. Been approved more then 5 times with there normal cards with no inquiry when you become a member.
Why would anyone want a business CC without a somewhat legit business? Say you earn 50 bucks driving Uber last week, do you really need a business CC to track your $15 gas expenses? To me it is just a lot of headache. But if you have a rental property it will make sense to charge all the repairs and other expenses on it because it gets very costly by the end of year.
Yo Ben !!! Your a Big YouTube now.. GET RID of the commercials !! There’s too many and they get annoying… just saying 😒
QUESTION: Can I pay my personal residence Property Tax with a "Business" credit card (for startup spending requirements & points)? Or, should I use 'Plastiq'?
What about playing poker for a living??
Just a heads up. Tried the sole proprietorship route with just buying and selling things and got denied. Credit score is 800+ and already have 3 chase credit cards. Tried to get a reconsideration and denied due to not enough history of business activity and or no business checking Accounts on file
Words cannot express my feelings, nor my gratitude for this video. Jamie did a great job. I really appreciate it.
If I rent out some vacant rooms in my house (as a landlord), does that qualify as a business?
what if I just started an online business but have no money coming in yet, but I have had an offline Business for 18 years, should I fill it out for the Offline business of 18 years, but actually use the card for both business, does that make sense?
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𝙛𝙖𝙨𝙩_𝙩𝙚𝙘𝙝𝟢𝟣 on Instagram is a life saver!!! Highly recommended I was about to pay $300 but he did mine for $60
Just tried with chase business card n got denied wtf
Can you offer some help ??
For a business, do banks usually dislike credit repair companies or they don't really care as long as you have a relationship with them and pay off credit cards on time?