Business Credit Card Requirements for Limited Liability Corporations

When you first form a Limited Liability Corporation (LLC), you will receive multiple offers for a business credit card. It is important to realize that these cards are often tied to your personal credit or your individual credit score, and they are not truly sources of business credit. To get an actual business credit card, you will need to apply under the name of your new LLC.

Building Business Credit

Once you are legally incorporated as an LLC, you can begin opening bank accounts. If your business has capital from investors or if you have personal capital, begin by purchasing assets in the name of the business. You will have to start small in order to build a record of transactions for your new company. Building account balances and assets is a good way to start. An LLC is capable of holding assets in its name, and this method should be used in order to get a credit card.

Getting a Business Credit Card for an LLC

Once your business has a financial identity, you can apply for a credit card. Often, it is easiest to apply with the bank where your business accounts are currently held. The credit line you can secure will depend on those assets in the business's name and the business's own record of financial success.