If you cannot get any credit cards with your bad personal credit and get a corporation tax id will you now be able to use it to get a credit card?

Answer

I and a partner wanted to do this, even having poor credit and each having a bankruptcy. We got a corporate account including credit-card in both our names, after we both gave valid savings accounts at two different banks. Our credit card was from Star Bank. Your results may be different, but we were not special clients in that bank, just Regular Joes who applied with our Federal Tax Number.. Good luck.

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Business Credit is separate from Personal credit - that is important to remember as a small business owner. Many business owners, just like in this question, have bad credit but that is not to be confused with business credit. Just like Equifax reports credibility of an individual the business has a credit reporting agency that reports on its stability as well. The key is to get your business registered with the credit reporting agency so that lenders can feel confortable issues out loans, credit lines, or extended terms to the business. Bad credit or lack of credit is no longer an obstacle that prevents the small business owner from finding financing or funding their small business. Small business loans are available to those who have incorporated their business, have a corporate tax id and are willing to keep up their business profit and the business credit score.

A handful of companies help with that online right now, I suggest searching the web.

 

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First answer by REX PATTON. Last edit by REX PATTON. Question popularity: 148 [recommend question]


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