I see more benefits offered for a Business Card than a Personal Card. I dont have any business, but I like the benefits, since I know that even for business cards the card is issued on the appliers SSN (I know they require a TAX ID sometimes) can I apply for a business card? Can I give my home address as my business address? is TAX ID or other business info mandatory? Also the annual fees on the Business Card is less than on the personal card..
There are plenty of home-based sole proprietors that have no employees and no need for a tax id number. Many don't make much money, if any at all. And the owners simply use their SSN in place of a tax id number whenever it's needed. You can certainly apply for the business credit card using your SSN, but be aware that they may ask you some questions about business revenue, profits, etc. Some may only care about the strength or your credit score and household income. Also, remember that the new credit card rules which were part of the CARD Act of 2009 only apply to consumer credit cards, not business. So, you won't be protected by some of the new consumer-friendly changes that recently took effect.
They can always come and ask for financial statememts of the company. If you have some type of part-time business, you can certainly use it for obtaining business credit. But I'd be careful if you have no business and can't come up with evidence of one.
Thanks for the responses. Actually I called the credit card company and asked them to compare and except for the $10 difference, all the features that a business account has is available on the personal account as well. So I'll probably pay the extra $10 (a total of $89) and get me the personal card itself.. I know I know there are many no annual fee cards.. but I need to save my US airways miles thats expiring and the only way to do it is by applying for a US Airways Credit Card which has an annual fee.
And you (and they) justify the annual fee because you get rewards. I know how you feel. Put yourself in my place. I have miles that I have to protect on Delta, United, and US Airways. So I have to pay for three cards. I have over 100K miles on each airline. If I didn't have so many I'd probably forget it. I used to travel all the time for work, now I haven't been on a plane for almost six years.
I always Liked the business cards because they never appeared on my personal credit reports keeping my balance to limit ratio low. Recently Capital one started reporting the business cards on my personal report though. I don't know if the other cards report now or not.
