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What to know about business credit cards for sole proprietorships

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    Quick insights

    • Most credit card issuers allow sole proprietors, or individual business owners, to apply for business credit cards.
    • Using a business credit card can allow you to separate work and personal expenses, earn rewards on everyday purchases and build a credit history for your business.
    • There are four different Chase Ink business cards that offer varying benefits and ways to earn cash back or points.

    A sole proprietorship is an unincorporated business run by an individual, where there is no legal distinction between the business and the owner. In other words, the sole proprietor is personally responsible for the business’ taxes, debts and liabilities.

    But there’s no need for business owners to mix business and personal expenses—many credit card issuers allow sole proprietors to apply for business credit cards. Having a business credit card can be a helpful way to access a line of credit for business expenses and earn rewards on everyday work purchases.

    Learn more about applying for a credit card as a sole proprietor, plus which Chase Ink business credit card may be right for you.

    How sole proprietors can get business credit cards

    Some business credit cards require you to have an Employer Identification Number (EIN), but many allow you to apply with your Social Security Number (SSN) instead. Most sole proprietors don’t need to get an EIN, so this can be a workaround to qualify for a business credit card.

    But keep in mind that some business cards may have other application requirements, though, like a minimum annual revenue or minimum time you’ve been in business.

    How to get a business credit card if you’re a sole proprietor self-employed

    Curious if you can apply for a business credit card as a sole proprietor? While the answer varies by credit card, it is possible. Even if you don’t own a full-scale business, it can still be useful to separate business and personal expenses with a business credit card.

    Sole proprietors may need to provide an SSN in place of an EIN when applying for a business credit card. Additionally, they may need to provide proof of income or business ownership in their application.

    While sole proprietors can use personal credit cards for work purposes, there are plenty of benefits to using a business-specific credit card.

    Benefits of business credit cards for sole proprietors

    Using a business credit card as a sole proprietor can help you stay organized and earn rewards on business purchases.

    Business credit cards can also allow you to:

    • Build a separate credit history for your business
    • Access a line of credit you can use for business expenses
    • Track and analyze your business spending

    Credit cards options for sole proprietors

    When choosing a credit card for your business expenses, it’s important to consider the rewards program, any fees associated with the card and other benefits like travel insurance or purchase protection.

    Chase offers several business credit cards that may fit your needs as a sole proprietor. Below, we detail each Chase Ink Business card so you can determine which might be the best option for you:

    Ink Business Unlimited®

    Ink Business Unlimited cardmembers can earn 1.5% cash back on every eligible purchase, making it a flexible option for business owners who don’t want to worry about specific rewards categories.

    Other highlights include:

    • Redeem rewards for cash back, gifts travel and more through Chase Ultimate Rewards®
    • Auto Rental Collision Damage Waiver
    • Travel and Emergency Assistance Services
    • Roadside Dispatch
    • Purchase Protection
    • Extended Warranty Protection

    Ink Business Premier®

    Ink Business Premier cardmembers can earn 2.5% cash back on every eligible purchase of $5,000 or more, plus 2% cash back on all other eligible purchases.

    Other highlights include:

    • Redeem rewards for cash back, gifts travel and more through Chase Ultimate Rewards
    • Auto Rental Collision Damage Waiver
    • Trip Cancellation/Trip Interruption Insurance
    • Travel and Emergency Assistance Services
    • Roadside Dispatch
    • Purchase Protection
    • Cell Phone Protection
    • Extended Warranty Protection

    Ink Business Cash®

    Ink Business Cash cardmembers can earn 5% cash back on the first $25,000 spent in combined purchases each account anniversary year at office supply stores and on phone, internet or cable services.

    Additionally, they can earn 2% cash back on the first $25,000 spent in combined purchases each account anniversary year at gas stations and restaurants. Cardmembers can earn 1% cash back on other eligible purchases.

    Other highlights include:

    • 10% Business Relationship Bonus for cardmembers who have a Business Checking Account (on the card’s one-year anniversary)
    • Redeem rewards for cash back, gifts travel and more through Chase Ultimate Rewards
    • Auto Rental Collision Damage Waiver
    • Trip Cancellation/Trip Interruption Insurance
    • Travel and Emergency Assistance Services
    • Roadside Dispatch
    • Purchase Protection
    • Extended Warranty Protection

    Ink Business Preferred®

    Ink Business Preferred cardmembers can earn 3X points on the first $150,000 spent in combined eligible purchases in the following categories each anniversary year:

    • Shipping purchases
    • Internet, cable and phone services
    • Advertising purchases with social media sites and search engines
    • Travel

    Cardmembers can earn 1 point per $1 on all additional eligible purchases.

    Other highlights include:

    • Redeem rewards for cash back, gifts travel and more through Chase Ultimate Rewards
    • Points are worth 25% more when you redeem for travel through Chase Travel℠
    • Auto Rental Collision Damage Waiver
    • Trip Cancellation/Trip Interruption Insurance
    • Travel and Emergency Assistance Services
    • Roadside Dispatch
    • Purchase Protection
    • Cell Phone Protection
    • Extended Warranty Protection

    How to apply for a business credit card as a sole proprietor

    Before you apply for a business credit card, research and compare different options to find the best fit for your needs.

    After you decide on a credit card, gather necessary information, including:

    • Your EIN or SSN
    • Business name, address and contact information
    • Number of years in business
    • Annual revenue
    • Financial statements

    Be sure to provide up-to-date business details, as inaccurate or incomplete information on your application could lead to a rejection.

    Read more about how to apply for a business credit card, including a breakdown of what documents you may need for the application process.

    In summary

    If you’re a sole proprietor in search of the right business card, you may find what you need from the Chase Ink suite of business cards. Continue your research by comparing all our business credit card offerings.

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