You Probably Qualify for a Business Credit Card (Even if You Think You Don’t)
Even a side hustle like selling on Facebook Marketplace qualifies for a business credit card. Read more to see if a business credit card, which unlocks a lot of travel rewards, is right for you.
Why Business Cards Matter for Credit Card Points
If you’re trying to maximize your credit card points, business credit cards are a game-changer. They often come with higher welcome bonuses and they don’t count toward your personal 5/24 status (more on that later). Yet so many people never apply because they assume they don’t qualify – but they PROBABLY DO QUALIFY!
What Counts as a Business?
You don’t need a storefront, employees, or an LLC to apply for a business card. You might qualify as a sole proprietor (which means you only need your social security number) if you:
- Run a blog, YouTube channel, or Etsy shop
- Sell items on Facebook Marketplace, eBay, or Poshmark (yes, even your used kids’ clothes and toys count)
- Tutor, babysit, or walk dogs
- Freelance or do contract work
- Resell used books or clothes
- Drive for Uber, DoorDash, etc
- Referee or are an adjunct professor
When you apply, the credit card company will ask for a business name and industry. If you do not have a business name, you will use your social security number.
(If you do not have a business name, DO NOT MAKE ONE UP. Unless you have an EIN, just use your social security number, apply as a sole proprietor where you will list your name as the business name. This is important, if you don’t have a business name USE YOUR NAME).
Why You Want A Business Credit Card?
Stay Under 5/24: Chase business cards don’t appear on your personal credit report, so they won’t affect your chances of getting other Chase cards – 5/24 means you cannot have more than five personal credit cards in 24 months. Since business credit cards don’t count (with the exception of Capital One), this open a lot more opportunities for earning points.
Big Sign-Up Bonuses: Many business cards offer 75,000+ points after meeting a spending threshold and many of them have NO ANNUAL FEE.
What Banks Look For
- A good personal credit score (typically 680+)
- Reasonable income (personal + business combined – when the application says total gross income, make sure you include both your household and your business)
- Business income (don’t lie, be honest. I know plenty of people who were approved with less than a $500 business income)
You may be asked questions about your business, but for most sole proprietors, it’s simple: explain what you do in plain language. It can be as simple as “I sell used merchandise.” The bank has never asked me this question, and it hasn’t asked anyone I helped apply either, but it is possible.
Tips for Applying for a Business Credit Card:
- Use your name as your business name (if your business does not have a name)
- Choose ‘Sole Proprietor’ as your business type
- Estimate your revenue realistically – it can be as little as $500
- You can use your Social Security number instead of an EIN (but if you have an EIN, I recommend that)
My Favorite Business Credit Cards
Chase Business Ink Preferred
ELEVATED OFFER!!! This is another great option, you can earn 100,000 points, but you must spend $8,000 dollars in three months (a little steeper than the other INK cards but a higher bonus). It has a $95 annual fee.
Why do I want this card?
- 3x points on travel and select categories like shipping, internet, cable, advertising
- 1x points on all purchase
- Transfer to travel partners or use in the portal
- Trip delay and cancellation insurance
- Rental car insurance
- $95 annual fee
Is this better than the other Ink cards?
This is a great card, but the $8,000 spend in three months is steep. If you do commit to this card, make sure you have a plan to hit the minimum spend.
Chase Business Ink Cash
This is my favorite business card. It has $0 annual fee, which makes it even better. The current sign-up bonus is 75,000 points after $6,000 of spend in six months. Note: It is advertised as cash back card, but you can transfer those points to your sapphire, and then transfer them to travel partners or book in the portal.
Why do I want this card?
- spend $6.000 in three months and earn 75,000 points
- points can move to your sapphire account, so you can transfer them to 11 different partners or use the portal
- Earning categories:
- 5% back at office supply stores – this means you can buy a visa gift card (on weeks when fees are waived) and earn 5x points (I try to keep this within reason and not abuse it)
- 5x points on internet, cable, and phone
- 2x points on gas and dining
- 1x points on everything else
Is this card better than other business cards?
I honestly think this is my top INK business card. I really like the option to get 5x back and office supply stores, where I can buy gift cards like Amazon, Target, and even VISA cards.
Chase Business Ink Unlimited
This is another great business card option. Every purchase is 1.5x points, and you earn 75,000 points after spending $6,000 in 3 months.
Why do I want this card?
- no annual fee
- cash back is actually points you can transfer to your Chase Sapphire card and then transfer to travel partner os use in the portal
- rental car insurance
- 1.5x on every purchase
Is this better than other business cards?
This is a great card to have because it always earns 1.5x points. So, if you don’t like thinking about what card to use where, this is a great option.
Final Thoughts:
If you’re serious about earning points and miles, business credit cards open up a whole new world of opportunities. Whether you’re selling children’s clothes on Facebook marketplace, refereeing youth sporting events, or tutoring part-time, you may already be eligible.
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