Should I Consider Getting a Credit Card for My Business?

Business credit cards can be helpful for small business owners looking for ways to organize business records, manage business expenses or benefit from perks offered by credit card issuers, such as airline miles or redeemable points for cash.

Opening a small business credit card

Opening a small business credit card is much like opening a personal credit card. Initially, you will likely have to supply a Social Security number and will get approval based on your creditworthiness.

Even a startup business owner with little revenue may get approved for a business credit card if they have a decent credit score and a history of being responsible with credit.

Perks of a business credit card

One major reason to consider a business credit card is to take advantage of rewards, often in the form of travel rewards or cash back, based on the amount you spend. In choosing a business credit card, consider how you might best be able to use the card’s benefits.

Related: 7 Tips for Using a Credit Card Overseas

Other benefits to getting a business credit card

Business credit cards have a few other advantages. They can help you keep your business and personal purchases separate and track business spending more easily. Also, if you have an unusually large expense, such as a pricey piece of equipment, some business credit card issuers may temporarily increase your credit limit if you have a history of paying your card back on time.

Disclosure: This article is for educational purposes. It is not intended to provide legal, investment, or financial advice and is not a substitute for professional advice. It does not indicate the availability of any Citi product or service. For advice about your specific circumstances, you should consult a qualified professional.

Additional Resources

  • Utilize these resources to help you assess your current finances & plan for the future.

  • Learn how FICO® Scores are determined, why they matter and more.

  • Review financial terms & definitions to help you better understand credit & finances.