Ready to take control of your business finances but don't have a social security number? No problem! In this article, we'll introduce you to credit cards that are designed specifically for businesses with an EIN but not an SSN. Want to know the best part? These credit cards can help you build your business credit history and open the door to new financial opportunities. Keep reading to learn all about credit cards for EIN only and how to select the perfect one for your business needs.
Credit Cards For Ein Only Table of Contents
Why do businesses need EIN-only credit cards?
Businesses often prefer using credit cards that only require an Employer Identification Number (EIN) for a variety of reasons. Here are some of the most common benefits:
- Privacy and security: By using a credit card that only requires an EIN, you keep your personal information, such as your social security number, private. This helps protect you from identity theft and fraud.
- Building business credit: Having a credit card in your business's name allows you to establish and strengthen your business credit history, which is essential when applying for loans or other types of financing.
- Separating personal and business expenses: An EIN-specific credit card makes it easier to keep track of your business expenses, correctly file your taxes, and manage your company's finances.
Top credit cards for EIN only
There are several credit card options available for businesses looking to apply without using a personal social security number. Here are four popular choices:
1. Brex Corporate Card
The Brex Corporate Card is designed specifically for startups and does not require a personal credit check, guarantee, or SSN. All you need is your EIN.
- High credit limits
- Flexible repayment terms
- Integration with popular accounting software
- Rewards program with no fees
2. Divvy Business Credit Card
Divvy offers a business credit card that only requires your EIN to apply. You don't need a personal guarantee, and they don't perform a hard inquiry on your personal credit report.
- No annual fees
- Rewards program with points for every dollar spent
- Customizable spending limits for employees
- Real-time expense tracking and integration with accounting software
3. Wells Fargo Business Secured Credit Card
This secured business credit card from Wells Fargo allows you to start building business credit using only your EIN and a cash deposit as collateral.
- Competitive APR and fees
- Flexible credit limits, from $500 to $25,000
- 1% cash back or rewards points on all purchases
- Free employee cards with individual spending limits
4. PEX Business Prepaid Card
The PEX Business Prepaid Card is a smart solution for businesses that want to avoid the risk of debt and only need an EIN to apply.
- No credit checks or personal guarantees
- Prepaid spending eliminates the risk of overspending or incurring debt
- Customizable spending limits and controls for employees
- Integration with popular accounting software
Credit Cards For Ein Only Example:
Suppose you own a small startup that provides corporate training services. You've received your EIN and are now searching for a credit card that can help manage expenses and track spending. After doing your research, you decide to apply for the Brex Corporate Card. Since it's specifically designed for startups, it offers the high credit limit your growing business needs. Plus, it doesn't require a personal guarantee or credit check, keeping your personal finances separate and secure.
Whether you're a savvy entrepreneur or just getting started, choosing the right EIN-only credit card can set your business up for success. And that's where Flik Eco comes in. Our platform is packed with valuable resources, tips, and guides to help you better manage your finances and achieve your financial goals. So, why wait? Start exploring Flik Eco today, and don't forget to share this article with your fellow business owners. Together, we can become better financial masters and champions of entrepreneurship.
