Can You Get a Business Credit Card With Only A Tax ID Number?
by JennaOne of our readers, Frank Mills, sent us this question:
I have heard that you can apply for a business credit card and get a fresh start by using only the tax id number but it seems that all of the cards that we have checked want your social security number. Is there such a card to apply with only the tax id number?
Thanks for your question Frank.
Here is the answer:
If your business is a sole proprietorship, then you will almost always be asked for your social security number, as well as your Tax ID number before you will be able to get credit.
There are some online rumors and “advice” that cite companies like Staples and a few other companies (see the list below) that will allow you to open up an account without your social security number.
So, from here you really have to take a quick look at your motivation and goals:
1) If your personal credit is bad, and you are only starting the business with the hopes of a quick fresh start in the credit department, then you would be better off not starting a business.
Instead consider getting a secured credit card and making the payments on time.From there you can start applying for retail credit cards, and then after another 6 months to a year of on time payments you can move up to an unsecured Visa or MasterCard. This will raise your credit score legitimately and does not really take that much effort – just the initial deposit for a secured credit card, and regular payments. (Check out this link for our reviews of the best secured credit cards to rebuild your credit.)
2) If you really want to start a business and you have bad personal credit, then you will want to take the following steps:
- Office Depot
- UPS
- FedEx
- TMobile
- Nextel
- Dell Computers
- Office Max
- Cingular
- Or bite the bullet and apply for a secured business credit card to start building up your credit rating.
From there you should be well on your way to establishing excellent business credit.
Have a question for us? Leave a comment below!
August 29th, 2008 at 15:42
Just tried to open up a Staples account, they said they used to open accounts if they could verify the business, but now some sort of score has to be attached the process so if your business does not have credit, then they will use your personal credit score to make a determination.
They still do report to D&B for the sake of the business’s credit, but anyway cross them off as a quick way to get some credit for your business.
Also Chevron asks on their application for PG information so cross them off as well.
August 29th, 2008 at 17:50
Ariel,
Thank you so much! I will update the article.
November 5th, 2008 at 15:46
I have to say, I have a child care center need credit to build my credit report. I had a tradeline 1 on Experian which was a airtran line i don’t know what that is but it helped me on getting lines of credit with
Staple
Office Depot
exxon
Shell
and
sunoco
Fedex
Att
all with good credit lines to start.
I would suggest getting starting with Fedex, att or something like that once you get 1 tradeline they will approve you.
Good luck all
January 27th, 2009 at 15:53
I am a treasurer for a 20+ year old preschool and we are trying to get a business credit card to make supply purchases. We have a Sams Club credit card for purchases at Sams Club & Walmart only. We are run by a Board of Directors but for safety and security reasons no one wants to put up their Social Security number for a credit card. Any ideas on how I can make this credit card happen?
January 30th, 2009 at 18:07
Cheryl,
I am in the exact same situation-a non-profit with a board made up of volunteers. I don’t want to use my SS# or credit to get a bank credit card for the non-profit because I don’t want to be responsible for any mistakes they make in paying, or have my name on their card after I quit. We do have an Office Max credit card, which we use for supplies, but I sometimes need to charge something and have to use my personal credit card and get reimbursed. Not a great solution.
April 28th, 2009 at 02:07
Hi Yolanda
Airtran is the name of an Airline, perhaps you went on vacation and selected the option to “fly now and pay later” at that time. Usually if you pay it off within 90 days it’s at $0 interest.
Faith
June 7th, 2009 at 09:45
How can I start getting credit under my business name – tax id numnber, I have heard people say you can get a credit report score under your tax id number how can I make that happen?
October 20th, 2009 at 23:40
Hello,
Does anyone happen to know of a company that does indeed offer a “secured business credit card”? (I should say a reputable company)
Also, what would the dollar amounts be to start up a secured card?
Thank you,
Chris
December 14th, 2009 at 18:10
Wells Fargo has a secured business credit card
February 22nd, 2010 at 21:20
Wells Fargo does NOT offer a secured business card. They stopped offering these over 3 years ago.
August 17th, 2010 at 20:38
Is this updated? Do any of those companies listed about still offer credit without SSN?