What is the requirement to get the approval of credit card for LLC? Can I use my personal credit card for LLC expenses? If I can not use my personal credit card, which bank do you recommend to apply for credit card?
It's advised to separate business and personal expenses to help make your life more simple come tax season. I like the Chase Ink Business Unlimited due to the no annual fee, and I already have Chase cards on the personal side, making it easier to manage.
It's advised to separate business and personal expenses to help make your life more simple come tax season. I like the Chase Ink Business Unlimited due to the no annual fee, and I already have Chase cards on the personal side, making it easier to manage.
It's advised to separate business and personal expenses to help make your life more simple come tax season. I like the Chase Ink Business Unlimited due to the no annual fee, and I already have Chase cards on the personal side, making it easier to manage.
Thanks. Do they check credit score when I apply for business credit card?
It's advised to separate business and personal expenses to help make your life more simple come tax season. I like the Chase Ink Business Unlimited due to the no annual fee, and I already have Chase cards on the personal side, making it easier to manage.
Thanks. Do they check credit score when I apply for business credit card?
Yes, since you'll be the personal guarantor of the card.
Agreed with Logan, we also use Chase Ink Unlimited. Great catch all card. You can typically find the CC requirements on the Chase website. It is not recommended to use your personal CC for businesses expenses due to co-mingling (I'd research this or chat with your CPA about it).
It's really using your personal credit, but it's in the business name. I have a corporate AMEX that give fantastic points. I live in Tampa and we had a wedding earlier this year in San Francisco. We flew first class on United round trip on the points. We use it for most of the recurring payments for the business and the points pile up.
Thank you all for the information, which is very helpful. Realized that I had a few hard inquiries recently, so I am afraid that my credit will take a dip if I open another credit card under my name. However, I have several personal credit cards. Can I use one of my credit cards only for my business (LLC) expenses? From now on, I will not use it for any personal purpose. Is that ok?
Yes, you can use a personal card for business expenses. You will just need to be sure that you are keeping the appropriate documents/receipts for tax purposes later on. However, I agree with the thread that getting a business credit card is ideal. One thing to note, though your individual credit will be used in the evaluation process for approval, it does not report to your personal credit as you carry a balance.
@Yi Chu Hey YI, I agree with some of the other responses. Chase has some great easy to obtain business credit cards for an LLC with no annual fees. You can provide them the articles of incorporation for your LLC or they can search them on Sunbiz if your LLC is in FL. They can get you a CC and bank account for your LLC so all income and expenses will flow through these two accounts for the property making your bookkeeping extremely easy and simple. They also have cards that offer 0% interest for 18 months last time I checked. @Alvaro Zamora
also, showing business income in your LLC will be very valuable down the line if you want to get business lines of credit to buy more property, the first thing lenders will do is look at the financial statements of your LLC.