When you're ready to apply for a line of credit with your business, you're probably going to think about how they are going to check your credit? I'm going to tell you the process that I had to go through when I was applying for a small business credit card of my own.
Since your business is going to be different than your personal cards, there are some things that you have to look out for.
The first thing that you want to make sure is that you have a great personal credit score, because you can bet that the major companies are going to check these when it comes time to give you credit.
If you apply as the owner of the card, you'll find that some applications are going to ask for your EIN and social security number as well.
Your EIN, or your employee identification number is going to be the number assigned to you when you create your business.
Many credit card companies are going to do some sort of background check when you apply for a card, because believe it or not, you can apply for a card in your own personal name, using your name as your business name.
Yes, in this economy, it's going to be hard to find a line of credit for just about anything, but as time goes on, you'll soon find out that these cards are going to come back in full force, and you'll be able to get credit once again.