Business Credit Card Requirements - Business Credit 2019

What business credit card requirements do card issuers consider for approval? In this video you will learn the top ten factors that impact the approval process and credit limits you can acquire for business credit card funding.

For business credit card funding go to https://businesscreditbuilders.org/business-lines-of-credit/

In order to qualify for the highest credit limits possible for your business, it’s important to realize that card issuers will check your personal credit scores and review the entire credit report.

These particular business credit cards that you obtain through our funding program only report to the business credit reporting agencies. Even though there are over 500 business credit cards available in the marketplace less than 100 report to the business credit reporting agencies.

First, before you apply for business credit cards with our program, your business must be established as a separate legal entity such as an LLC. Your company’s EIN is what the business credit reporting agencies use to create your business credit report.

If your goal is to create a clear separation between your personal credit and business credit than it’s crucial to acquire business credit card that accomplish just that.

This not only helps you establish a credit profile and rating for your business but also protects your personal credit. Remember, the requirements for business credit card funding are determined by two main areas; personal credit worthiness and the age of the business.

It’s important to realize there is no collateral, no income docs, no financials, no tax returns and no time in business required to qualify for business credit cards. The requirements are much easier compared to traditional funding offered by banks.

So how much business credit card funding can your business qualify for?

The first benchmark factor for qualification is a minimum credit score of 680. FICO credit scores and FICO Bankcard score are the most widely used scores by credit card issuers. Keep in mind this is simply a minimum requirement.

The second major factor is the credit report of the personal guarantor. Underwriters look at the length of credit history, types of accounts, number of active accounts, payment history, hard inquiries, etc.

Also, the age of the business plays a factor in business credit card funding. Other factors related to the business are outstanding debt, existing business credit cards and banking relationships.

For more details on these business credit card requirements or how to start the pre-qualification process check out the following websites below.

https://youtu.be/chpGFtxz6-o
https://businesscreditbuilders.org/business-lines-of-credit/
https://businesscreditblogger.com/2019/05/30/applying-for-business-credit-cards-with-an-ein/
https://businessfundingengine.com/
http://creditreportengine.com