Business credit card

[Account Closed]

Hello BP.  I am just starting to develop a real estate portfolio and I would appreciate your advice with reference to tracking business expenditures.  I have not done a single deal, but will enter real estate with single family home properties.  Should I get a business credit card, or should I just use my personal credit card for business?  Of course, my concern is asset and personal protection.  If getting a business credit card is the way to go, I'd appreciate suggestions as to which card I should look into (or are they all about the same?). 

Thank you in advance, 

Chris

[Stanley Whigham]

If you have good personal credit, the easiest way to get a business credit card is to make sure you have formed an LLC for asset / liability protections. Next, you should open a business checking account with a bank. Banks will check out the address of your business and look to see if there is some online presence (listings with Manta, Bing, Google+, etc). If your credit score is good, your business address isn't in your home and you have some presence online the bank should offer you a business credit card. Once you get approved, the next easiest business credit card to obtain is the COSTCO Amex business card.

1. Costco Busines AMEX (go to Costco w/ biz checkbook, EIN# and llc docs)

2. CitiBusiness (open biz acct w/ Citibank and apply)

3. Bank of America Platinum Plus (open acct w/BoA and apply)

4. Chase Ink Business (open acct w/Chase and apply)

5. Capital One Spark Business