Business Credit Cards And Personal Credit Cards Have Different Application Guidelines.

1. -990600-70485000<br />Business Credit Card Application Process - Is It Different?<br />A business credit card is different from a personal credit card in many ways and some of those differences begin during the application process. Business credit cards are great ways for business owners to access instant cash for items their business may need - from supplies to flights to lunch with an important client. This article will discuss the differences between an application for a personal card and one for a business card so you will be prepared when you sit down to fill out an application.<br />Personal credit card applications typically ask for important information such as your social security number, where you're employed, how long you have been employed there, your current address and more. This information is used to access your credit report. Lenders use this report to ascertain whether you are an acceptable credit risk. If you have a record of paying your debts on time and efficiently, you will probably have a fairly good credit rating - prompting creditors to approve your application quickly. <br />Business credit cards require slightly different information. For instance, you're typically required to list the names and personal information of all owners of your company - including those who own more than 10% to 25% of the company. The credit ratings of all owners will be checked. If you're the sole owner of the company, this won't be a problem. In this case, however, your own personal credit will be the basis for making a decision about whether to give you a new business card.<br />Other information that will probably be required might include the business's annual profits, how long the business has been in operation, financial statements from the business and more. You'll also need to describe what type of business you own - such as a corporation, a partnership or an LLC. This will help the lender determine whether the business is eligible to receive a credit line.<br />After compiling all the necessary information about your company, its owners and its financial details, you can fill out the application ... hopefully online both for the convenience factor and for speed of approval! If you have good a good credit history, you will most likely be approved. Depending upon the status of the business's existing credit (or your own personal score), you may be required to pay more or less interest. Typically, the better your credit score, the lower your interest rate will be.<br />center0For more information and to research, compare and apply for business credit cards, visit Business Credit Card Source at http://www.businesscreditcardsource.com.020000For more information and to research, compare and apply for business credit cards, visit Business Credit Card Source at http://www.businesscreditcardsource.com.<br />