How to open business credit cards with a side hustle
Editorial Disclosure – Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post..
Business cards are the key to a lucrative points and miles strategy. Read on to learn why you want them and how to get them.
Reasons you want business credit cards.
- Helping you with your 5/24 status with Chase Bank is just one reason you need to know how to apply for business cards.
- Business cards are another opportunity for even more welcome bonuses, which means large pots of points available for you to book travel with.
- Business categories like internet and cell have great point multipliers with business cards.
- Business cards aren’t attached to your personal credit utilization ratio.
- They can have excellent purchase protection on items like electronics
- Many have an awesome $0 annual fee!
What qualifies as a business?
A business can be any job that earns income. You are eligible if you have a business with employees and an LLC.
Also, if you have a small side job, you could still consider yourself a business!
Examples of side hustles that qualify.
- Photography
- Coaching
- Fitness instructor
- Babysitting
- Selling unused household items or children’s clothes/toys on Facebook Marketplace
- Tutoring
- Mowing a neighbor’s yard
- Selling beauty products
Your side hustle income can be as small as a few hundred dollars a year!
How to complete a business application.
Follow these tips to feel comfortable and confident while applying for a business credit card. Remember, I am not a financial expert. These tips are from my personal experience.
Personal portion of the application
Completing the personal information portion of an application should be self-explanatory.
Remember to include your ENTIRE HOUSEHOLD income on the total gross annual income question.
Now for the business portion of the application.
Business Information
Legal Business Structure: Sole Proprietorship
Legal Name of Business: Use your name if you are not applying with an LLC.
Desired Business Name on Card: This can be your name if you don’t have a business name.
Does your business use another name, like a trade name, assumed name, or DBA?: More than likely “No.”
Tax Identification Number: This can be your SSN
EIN: If you don’t have one, enter your SSN again.
Business Address: Choose your home address if that is accurate.
Number of Employees: 1 (you)
Business phone number: Your phone number.
Business established date: When you started, the longer, the better.
Annual Business Revenue: Estimate an amount based on monthly revenue to date or future revenue.
Business category/type/subtype: Pick whichever categories are closest to your business.
Estimated monthly spend: Estimate how much you will charge to this card each month.
Not sure what business category, type, and subtype to choose, here is a basic option.
I use this for selling on Facebook Marketplace and for my husband mowing our neighbor’s yard.
If your application goes pending, don’t panic!
This is totally normal. Wait and see if it pops up in a day or two.
What to do if you get denied.
Call the credit card reconsideration line.
Ask why your application was denied and if you can supply more information.
Be kind. They don’t have to approve you.
You can always hang up and call back.
Final thought: If you need help applying for a business card or have questions, reach out! Send me a dm @pointsandmilesteacher on Instagram. I would love to help you!
Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
I found out about points and miles accidentally.
I was researching index funds and happened upon the points and miles community through creators who also post about budgets, financial independence, and investing.
Points and miles allowed those people to travel and work toward financial independence simultaneously.
Thank goodness I got started when I did. The past almost two years of travel have been something we will never forget.
Earning points and miles through credit cards is only a good choice if you have the financial discipline to use them, like cash/debit cards.
Since we started traveling with points and miles, we have had more money going into our investment and savings accounts than ever.
Now I'm excited to teach you!
Welcome
I am excited you are here
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