What are the Top Credit Cards for EIN-Only Businesses?

When it comes to running a business, having a separate EIN (Employer Identification Number) is a must. It not only helps to establish a professional image, but it also makes it easier to keep track of business expenses and file taxes. However, finding the right credit card for EIN-only businesses can be a challenge. In this article, we’ll explore some of the top credit cards that are suitable for EIN-only businesses and explain why they are a great choice.

Chase Ink Business Preferred

The Chase Ink Business Preferred is one of the top credit cards for EIN-only businesses, and for good reason. It offers a generous sign-up bonus of 100,000 points after spending $15,000 in the first three months. In addition, it earns 3X points on travel, shipping, internet, cable, and phone services, and advertising purchases made with social media and search engines (up to $150,000 per year). The card also comes with a cell phone protection plan and no foreign transaction fees. The annual fee is $95.

American Express Business Platinum

The American Express Business Platinum is another excellent choice for EIN-only businesses. It offers a sign-up bonus of 75,000 Membership Rewards points after spending $15,000 in the first three months. The card earns 5X points on flights and prepaid hotels booked through Amex Travel, and 1.5X points on purchases of $5,000 or more (up to 1 million additional points per year). The card also comes with a $200 airline fee credit, access to airport lounges, and no foreign transaction fees. The annual fee is $595.

Capital One Spark Cash for Business

If you prefer cashback rewards, the Capital One Spark Cash for Business is an excellent choice. It offers a flat 2% cashback on all purchases with no limit on how much you can earn. The card also comes with a sign-up bonus of $500 after spending $4,500 in the first three months. The annual fee is $95, but it is waived for the first year.

CitiBusiness AAdvantage Platinum Select

For businesses that frequently travel with American Airlines, the CitiBusiness AAdvantage Platinum Select is a great choice. It offers a sign-up bonus of 70,000 miles after spending $4,000 in the first four months. The card also earns 2X miles on American Airlines purchases, telecommunications, car rental, and gas station purchases, and 1X miles on all other purchases. The card also comes with a free checked bag, priority boarding, and a 25% discount on in-flight purchases. The annual fee is $99, but it is waived for the first year.

Experience with Applying for Credit Cards

When applying for credit cards as an EIN-only business, it’s important to have all the necessary documents in order. This includes your business license, tax ID number, and any other relevant paperwork. It’s also important to have a solid credit history and a good credit score. Many credit card companies will look at both your personal and business credit history when making a decision.

Saving Money with Credit Cards

Credit cards can also help businesses save money. Many cards offer rewards and cashback on purchases, which can add up quickly. In addition, some cards offer perks like free checked bags, airport lounge access, and other travel benefits, which can help reduce travel expenses.

Annual Fees and Risk Avoidance

It’s important to consider the annual fee when choosing a credit card. While some cards offer great rewards, the annual fee can eat into those rewards if you don’t use the card enough. It’s also important to be aware of the risks associated with credit cards, such as fraud and identity theft. Always monitor your accounts and report any suspicious activity immediately.

Credit Card Company Recommendations

Ultimately, the best credit card for your EIN-only business will depend on your specific needs and spending habits. However, some of the top credit card companies that offer great options for EIN-only businesses include Chase, American Express, Capital One, and Citi. Be sure to research the different options and compare the rewards, fees, and benefits to find the card that’s right for you.