How to get a business credit card with your Employer Identification Number (EIN)
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Updated 11:01 a.m. UTC Nov. 14, 2023
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Getting approved for a business credit card with just an Employer Identification Number, or EIN, might seem like a smart move in theory. After all, having a business card that’s tied only to your EIN would help you keep business financial activity off your personal credit report.
Using only an EIN to apply for a business card could also help you avoid taking legal responsibility for debts acquired. Instead, a business card secured with just an EIN would place full liability on the business itself, provided it is properly registered to protect you from personal liability claims.
That said, there are major complications that can come into play if you’re trying to get a business card without listing your Social Security number (SSN) on the application. If you’re hoping to get a business credit card but would prefer to apply with your EIN only, read on to learn whether this is even possible and which cards allow it.
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Can you get a business credit card with just your EIN?
The Internal Revenue Service (IRS) says businesses generally need an EIN, and that the EIN is also commonly referred to as a Federal Tax Identification Number. This number is “used to identify a business entity,” similarly to how Social Security numbers identify individuals.
Unfortunately, getting a business credit card with just an EIN can be tricky and even impossible. That’s because the majority of business cards need a personal guarantee for any debt acquired, and thus require applicants to also list their SSN when applying.
While business credit cards are made to be used for business-related expenses (and not personal spending), it’s easy to see why card issuers prefer having a personal guarantee. After all, many small businesses fail, and financial services companies know this fact very well.
A personal guarantee reduces the level of risk for the credit card company by ensuring a business can’t just walk away from debt it racks up over any amount of time. If a business closes, having a personal guarantee means card companies can go after the individual cardholder for repayment. Without a personal guarantee, a card issuer would get left holding the bag if a business shutters with credit card debt on its balance sheets.
Which business credit cards can you get with only an EIN?
Most business credit cards you probably know about ask you to apply with your SSN as well as an EIN if you have one. However, there are a few types of business cards that let you apply with only an EIN, meaning your personal credit history isn’t considered during the application process.
These types include:
Corporate business cards
Some corporate business cards allow applicants to get approved with just an EIN, but these cards are typically only available to large corporations with considerable revenue and expenses.
American Express, for example, offers a selection of corporate credit cards in addition to its business cards for small business owners. Another example is the Stripe Corporate Card (available by invitation only), which offers cash back on every purchase and a range of benefits that larger corporations may be able to use.
Brex, a company that issues corporate credit cards for a variety of needs, says its cards are geared toward growing companies that meet one of the following criteria: the company has received an equity investment of any amount or has plans to, has more than $1 million per year in revenue, has more than 50 employees or is a tech startup that’s on the path to meet any of these requirements and has been referred by an existing Brex customer or partner.
The application process for a corporate card can also come with extra steps. For example, Brex says you’ll have to submit your ID and you may be asked to supply a PDF of your IRS letter to confirm your EIN. Financial services companies that apply are also asked to complete a compliance attestation form to fulfill specific United States government requirements.
Fleet fuel cards
Large companies that spend a lot on gas may also get approved for a fleet fuel card (i.e. corporate gas card) without listing an individual’s SSN. This kind of card lets corporations track all their fuel-related expenses in a single account, and they can issue authorized user cards to drivers who need to pay for fuel while they’re on the road.
An example of this type of card comes from a company called Wex. This organization offers two different fuel cards large companies can apply for with just an EIN — the WEX FlexCard * The information for the WEX FlexCard has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. and the WEX Fleet Card * The information for the WEX Fleet Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. .
In fact, the application for both cards says the following in the fine print when it asks for the applicant’s Tax Identification Number:
“The IRS provides your EIN, or business tax ID, in the following 9-digit format XX-XXXXXXX. If you are a sole proprietorship or single member LLC, you may not have an EIN. If so, provide your Social Security number.”
Are there any benefits to only using your EIN?
There are a few benefits that come into play if you can get a business credit card with only your EIN, even if these benefits are only available to a select number of large corporations.
The biggest benefit — which actually makes a lot of sense for a corporation — is the fact that applying with an EIN lets the business (and not an individual business owner) take on liability for any card-related debt acquired. This can be the case when a business has been properly filed so it enjoys legal liability protections.
According to the Small Business Association (SBA), businesses registered as a corporation typically have the strongest protections when it comes to protecting business owners from personal liability claims, even though “the cost to form a corporation is higher than other structures.”
Also note that getting a credit card with just an EIN can be useful for individuals who do not want their personal credit history to be taken into account. For example, an applicant with bad credit who applies for a business card with just an EIN may get approved based on their business credit history alone.
Is it safe to apply for a business credit card with your SSN?
It is technically “safe” to apply for a business credit card with your SSN, but only if you’re willing to make a personal guarantee for any debts your business racks up. If you apply for a business credit card for your small business or side hustle and your venture ultimately goes under, you’ll be held responsible for the debt.
If you fail to repay balances owed on a business credit card, you’ll likely be charged a late fee after your first late payment just like you would with a consumer card. From there, your lack of payments will be reported to your personal credit reports, and a penalty APR can apply.
Credit card issuers can also send your account to collections, and they will eventually “charge off” any delinquent debt once it goes unpaid for 120 to 180 days. As the cardholder, unpaid credit card accounts can stay on your credit reports for up to seven years.
Safer alternatives for small business owners
If you’re a business owner who wants to keep your personal and business finances as separate as possible, applying for a business credit card that doesn’t report to the personal credit bureaus can make sense. This type of card requires you to enter your SSN when you apply, and you’ll have to provide a personal guarantee. However, your balances and payments won’t be reported to your personal credit reports each month (as long as you don’t fall behind on payments), thus helping keep your personal and business lives in their own corners.
As an example, business credit cards from U.S. Bank report your card activities to Dun & Bradstreet, which oversees and manages business credit reports.
Applying for a secured business credit card can also make sense for business owners whose personal credit (or lack thereof) may impact their ability to get approved. This type of credit card requires a refundable cash deposit as collateral, yet it lets users build positive credit habits while enjoying the convenience of having a credit card for purchases. Just know secured business cards are much less common than secured consumer credit cards.
Small business owners who want the convenience of credit without dealing with eligibility requirements or having to apply with an SSN can also consider a prepaid business card. This type of card requires the owner to fund it with cash ahead of time, after which it can be used to pay for online and in-person business expenses. Some prepaid business cards even offer expense tracking tools and receipt management services.
Frequently asked questions (FAQs)
Most business credit cards require applicants to share their Social Security number (SSN) and provide a personal guarantee. Exceptions include some corporate credit cards and fleet fuel cards.
You may be able to get a corporate credit card or a fleet fuel card with just an EIN. Or you could opt for a prepaid business card that requires you to load it with funds prior to use and doesn’t report to the credit bureaus.
You don’t always need an EIN to get approved for a business credit card. In fact, sole proprietors often get approval after applying for a business card with only their SSN.
If you’re applying for a business credit card with your Social Security number (SSN), your personal creditworthiness will be considered as part of the application process.
Some business loans are available with just an EIN, including one type of funding called a merchant cash advance. This type of loan is available without a personal guarantee, and it is offered to merchants in exchange for a percentage of future sales.
*The information for the WEX Fleet Card and WEX FlexCard has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
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