Here is going to be a straightforward No: BS guide on how you can get instantly approved for business credit cards. Just a little bit of background about myself: by the time I had turned 22 years old, I had been approved for over six different business credit cards with the top credit card issuers and in this video I'm going to share with you exactly what I did so. to get started with this video, let's talk about a few major misconceptions about business credit cards and then after that I'm gonna go step by step into my computer. I'm gonna walk you through on how to get approved for these business credit cards on these applications because I know the application itself can be a little bit of intimidating compared to a personal credit card application.

There's a lot more you got to worry about, a lot more questions that they ask you. So I'm going to show you exactly how you can answer it all in the right way to make sure that you guys do get successfully approved. All right. So first of all, misconception number One when it comes to business credit cards I Don't blame you if you guys have this because I had this misconception too.

And it's the fact that only large and established businesses are eligible. So first of all, anyone can apply for a business credit card. This is not just reserved for the ultra rich or businesses that have been around for many, many years, but the term business is applied very broadly within the states, and the most popular example are people who might be self-employed Whether you're a dog walker on Rover whether you're a content creator, whether you're selling and flipping different shoes, designer bags, clothing, whether you're a babysitter, whether you're a tutor or you're an online Blog owner you're a contractor. If you do anything at all closely related to the fact that you're able to make income for yourself and you're not working for another employer, you are fully eligible to apply for business credit cards and even get accepted.

The second misconception is this: you do not need a legal business name with an EIN to qualify Now, although getting an EIN is a pretty simple process, and I recommend everyone to do it. your business does not need it, you don't need your own business address, You don't need a brick and mortar store. Your business also does not need to be profitable. Your business does not need to have employees, and your business does not also need to fit into any one of the categories that's listed on the credit card application.

Look: when I applied for my business credit card about five years ago, I'll tell you being a YouTuber was not under any of those categories of a business, but I still got approved I was also quite young I also was not making any money I think I made twenty thousand dollars or less than that for that entire year and I had no real main source of income other than my part-time job working with kids who had disabilities and working with my dad doing hardwood floors. My income was so low that I thought okay if I'm not gonna get approved for fitting in the category if I'm not going to get improved for having a real address because I work for my parents house at that time I wasn't even renting an apartment, why would they approve me? Well, they ended up doing so. The main reason is because credit card companies look at just two main things. they look at your personal credit score at most and they also want to verify if you are the owner of whatever said business that you are claiming.

Those are the two major misconceptions and if any of that resonated with you, drop a like down below. Alright, so the next thing that we're gonna do is just open up one of the links Down Below in the description. Those links Down Below in the description give you the same offers that you would normally find if you're trying to apply for any one of these credit cards, but it supports this Channel at no cost to you. Let me tell you guys, this is something I don't really talk about on YouTube But at this point of me doing YouTube for the last four to five years and going through the bear Market the process of making these videos at the consistent rate that we've been doing, it takes a lot of work.

We now have a rough draft editor. shout out to my boy is fun! We have my main editor Ben We have the scripting process that I handle. We have the outline process that I handle. We have a full-time thumbnail designer and just the whole process of putting together a simple video like this actually takes a lot of time.

So if you guys do want to support my team so we can continue to reinvest it back into the production and the quality of information that you guys can get, be sure to check out the links down below. at any time. When you think of applying for a credit card, check out these videos. I Appreciate it! I Went on one of my last videos.

Best Business Credit Cards! Let's do the chase. Inc Business unlimited. Still one of the best business credit cards to get. We're gonna click on apply now.

We get this fancy little animation coming from uh Bank rates. Then one more time there are a lot of loops and not only that, there's a whole application we need to go over. Let's do this together. Process is very easy.

first name, last name. Go ahead and put that in your mother's maiden name you put in your date of birth here. You're then going to want to put in your social security number if you don't have a Social Security number and you have an Itin number. you also have an area where you can fill that out here.

whatever address you're living at. If it's a domestic address, you have the option to do it there. If you you know are serving in the military, you have a military address. They actually have a little section for that as well.

Go ahead and put in your email address and your phone number. So Chase can have your consent to send you automated calls and texts about your account. And here you want to put your total gross annual income. Here's a big Tip.

Since a lot of the banks here are going to normally fall back to look at your personal credit score, you want to make sure that you include the revenue from your business and your personal income in this section. So as an example, if I was making fifty thousand dollars a year at my job and I have a side hustle of reselling sneakers and I'm only making less than five thousand dollars from that, I would put something like 55 000 maybe? I'm just like a kid getting out of college. You know you're it 20 years old. You want to get into the whole world of business credit cards and be an entrepreneur.

I was I was literally in those in that situation. that was me back then. I Didn't have past previous years of income or tax returns to show that you know my business was making money, but I had a few months of proof. So I remember my Shopify eCommerce Drop Shipping Store In one month I had done 10 20 000 in revenue and if I did that for a projected year I would do the average of that 11 000.

I would then multiply that by 12 whatever number that gives me. If it's over a hundred thousand dollars, that's what I would put Chase even mentions here. This is what you earn or reasonably expect to earn in a year you don't need to be exact. Okay, they're not looking at this with a microscope, but just give your best estimate.

Don't lie on these applications. Uh, to fill this section out. So the next section here. they're going to ask you about your business info and this year is very simple.

More often than not, you're gonna be a sole proprietorship. but if you happen to be you know an LLC registered with your state. obviously go for an LLC even right now for my business, I'm an LLC But if you didn't know, you could actually get taxed as an S corp. That's exactly what I do instead of having to file myself as a corporation but still get the the full benefits of legal protection and also getting the tax advantages of being a corporation for business legal name if you don't have a business legal name, if you don't have like a merch company or whatever it is, you can use your full name.

That's completely fine and I've done that many many times. Does your business use another name like a trade name or DBA More often than not, it's not okay, so just do no on this. If you don't know what any of this means, it probably does not apply to you. At this point.

You have the option of putting in your EIN number. Or if you don't have an EIN like I said, you can put in your social security number like you did in the above page. is your business's physical address the same as your personal address? This is a yes or no. They updated this back then.

They actually made it a little confusing, but they have this here most often if you are working from home, if you don't have an office, if you don't own a franchise with an actual location, your physical address should be the same as your personal address. This is not going to hurt your chances of getting approved for the card, even for me right now. At this stage making multi seven figures I still work from home, that is a yes. So when it comes to number of employees, if you're the only person that works under you, if you don't have any like full-time employees that you're paying W-2s for, go ahead and enter Zero for this section.

If you don't have a business phone number, you can use your own personal phone number, but it's really easy to get a business phone number. You can do it completely for free. You can sign up for Google Voice They'll give you a free randomly generated phone number. business established date: I Always round up because I personally don't remember when I started my business officially.

So I'll just do like the first of you know, maybe 2019 like four years ago when it comes to annual business. Revenue Be honest about this section. If you haven't made that much money from your business, it's completely okay. That doesn't disqualify you from having some of these cards.

But on a safe note: I'd say you know twenty thousand dollars is a number that I would personally go with if I was to do this application. If I'm starting out all over again when it comes to the business category, this might trip a lot of people up because the only businesses that they have is like super traditional stuff so you're just gonna have to put in whatever's closest to whatever industry you're in. As an example, you know I might say I'm in finance right here. You know what? None of this really apply to me I don't want to say I'm in finance I could say I'm in information I Think this this one fits me more like I'm in media Technically I wouldn't overthink the business category too much, but I do get why.

It could be a little bit confusing just because if you you know if you're in E-commerce you're doing like you're selling online courses you're making YouTube videos. You're not really sure what to put in this section, but do your best, you know I could also say I'm in Media or just uh, other information services and then from here I could do all other information services and just keep it broad. Now here this estimated monthly spend. This is how much Chase wants to get an idea of what you're putting on your cards on average I Think it's always good to put in the monthly spend relative to how much you're making a year by making a hundred thousand dollars per year I Don't want to be spending 200 000 on my credit card? It's gonna freak them out.

So normally you know if you're not spending too much on your business, maybe your expense is only like five thousand dollars a month. or how much you plan to spend on this card might even be less than that. Like a thousand dollars when it comes to percentage of ownership. Very simple.

You're 100 owner if you started your own business. Uh, generally. I don't want to add any employee cards. You come down, You've read all of this and you submit you're good to go.

That's how easy it is. All right. So how do you get instantly approved for a business credit card? Well, if this isn't your first time applying I'd say there's less than like an 80 chance that you'll actually get instantly approved. This is because based on my own experience, after I got approved for my first one, I got instantly approved for the other five business credit cards.

The first one that you need to get approved for takes a little bit more work. The truth is, it's pretty rare to get instantly approved for a business credit card. and like I said, they'll take into consideration things like your personal credit score if you have any history with that bank. But most often than not, when you do submit this application immediately, you're gonna get a pending application notification.

Generally, the rule of thumb is if you get pending application means you're gonna get denied, but that's not the case at all with business credit cards In a situation like this, Wait it out because more often than not you're either going to get a call or higher. Chances are you're actually going to get a letter in the mail stating the reason of why you might have gotten approved instantly or why you might have gotten denied if you got denied. or if they need more information, they're going to tell you exactly which documents you need to submit when it comes to business credit cards until you get an official confirmation coming from the bank that you did get denied. Do Not Ever call the reconsideration line because what could happen is you could be in a pool of pending categories and by calling the reconsideration line you could automatically remove yourself from getting automatically approved which may have happened Now going into the whole pending thing and asking for additional documents, they will often ask you for these three things.

One is a proof of ID to show who it is and whether or not you can verify it is you applying for this thing. The second thing is the utility bill showing your name and the business that you own. and sometimes they will ask you proof of your EIN certificate. Now these documents are actually really easy to get.

So number One: if you want to submit any ID use your driver's license or your passport. the second thing you can do is submit an EIN certificate and to get that you just go on Irs.gov and whenever you you filled out the information they would have emailed you into your inbox a letter or certificate showing your name. With that Ein to verify that you are the holder of that number. Now to verify that you own a business and you got to show them a business expense with your name and the company name, you can sign up for any kind of online subscription.

So for this something I'd use would be hostinger just because they're very cheap, they're recognized as a business service and then on top of that even just their most popular package 3.99 a month you save 73 off. This is not sponsored by the way. This is exactly what I would do if I needed to show the bank's proof because this also is something that I think most people would use. You could build up your website.

You could get your own domain address which allows you to get your free email address. So if you ever wanted to say Joe Shmoe at Joshmo.com that's how you would do it. Not only that, but hostinger also gives you a 30 day money back guarantee. so if you don't like it, you could also just cancel it once you do get your business credit card.

But once you do submit payment on this, you could go onto their website and get a receipt with your name and whatever business name that you are going for today, verify and send it over to the banks as that proof that they would need in order to approve that business credit card application. Now two things will happen at this point. It's going to take them a long time because Banks work at such a slow rate I don't know what they're doing over there half the time. It reminds me of the movie Zootopia.

you know, like the snails at the DMV So you'll either get approved or you'll get denied about two weeks later if you get approved. Congratulations! come back to one of my videos. You know, let me know that I helped you out because that puts a smile on my face anytime. I Read those comments I'm not forgetting about the people who may have to go through more rings and Hoops because I was there.

Believe it or not, my first business credit card I actually got a pending application and then all the information I sent to them. For some reason they were like not accepting it because I had to fax it, then I had to mail it and then I didn't send the right thing over because I had too many businesses with different names. It ultimately took me one to two months to get approved and I remember I really wanted a business credit card because I had all of this equipment that I was going to buy for the business like laptops, cameras and I wanted to get the welcome bonus for it collect the points it would have you know made me an extra five to ten thousand dollars when I found out that I didn't get approved right away. and if it happens to you, first thing to do is Don't Panic you'll also have access to something called the reconsideration line and from here you're going to be talking to a real human being and they're going to be asking you a lot of questions about your business.

but I'll give you the questions that they'll ask you so you can prepare in advance. The questions here are: you know what's the name of your business very simple stuff. What products do you sell if you don't sell what do you do you know for me I was making YouTube videos so I would say I'm in the service business I also had a marketing agency I would go out to clients who needed social media marketing I would do all the content I would post it up I would run Facebook ads I would sell out whatever service or you know thing they were providing. It was amazing time.

They're going to ask you how long you've been in business. It should all match up to what you put on down the application. They're gonna ask you your job title, how many employees do you have, and why you need a business credit card. The last answer: Why you need a business credit card? Just be frank, let them know Hey I got a lot of business expenses coming up instead of going to a competitor like you know, whatever Bank it is I'd rather use you guys because I heard the benefits are much better and I really do like the wall components.

You can be honest. There's also a chance that they might ask you some more in-depth questions like what's your annual revenue? you know what are your expenses Was your Revenue last year? If they ask you things like what was your Revenue last year and you started your business this year, be honest. Hey I started my business this year so I don't have revenue from last year or you know my Revenue last year took a hit because of the pandemic. so that's why you know my Revenue was only fifty thousand dollars but it could have been more.

They might also ask you if you're operating at a profit or loss. most businesses I'd say are operating out of profit, but just be honest and then if they ask you what your expected Revenue next year might look like, give them a viable answer. We think it'll be a hundred thousand dollars because last month we made ten thousand dollars. and if we project that over the 12-month period, that's what our expected revenue is.

It's kind of like Shark Tank sharks are asking you stuff. So if you answer all those questions well and you have a decent credit score which I would say is like above 680 to 690, you should be well on your way of getting approved for your first business credit card. Now the next question might be after watching this video. If is which credit card is best for you amongst the whole business lineup.

Make sure you guys watch my video after this on the six must-have Best Business Credit Cards of 2023. I have that link Down Below in the comment section and if you're ready to apply for any one of these cards. If you appreciate the value in this video, a few things that you can do, check out the link Down Below in the description I'll send you an email to join our Facebook group in there. I Also have a full written guide on getting a business credit card so if you're more of like a visual person you got to see clear instructions and this video wasn't enough.

I Have that within our Facebook group and when you do apply like I said, be sure to check out the links Down Below in the description. they're at no cost you and if there is more of a competitive offer, go ahead. always take that one first but by using these links it definitely helps this channel out. So thank you all so much again for watching this video.

Be sure to drop a like down below. Get your friends hip to business credit cards guys! There are so many unique benefits and if you don't know half of them I Actually made a 40 minute guide video talking about all of the benefits of business credit cards as well. This is called the Ultimate beginner's guide to business. Grad it.

Watch that and you will be an expert by the time you finish watching these videos. Thank you all so much again for watching collect those points. Travel the world for free! I Love y'all Stay blessed. Peace out.