Expert: Stephen Tanenbaum - 10/18/2010

Question
How can I apply for a business credit card if I do not currently run a business?  I've never had a business before, so my understanding of opening one is non-existant.

The reason I ask, is because you said something about it in a previous email.  It would be for the card(s) at:

http://www.away5.citicards.com/

Also, would it be wise to apply for all 3?  Or would the simply not give you all 3?

-Jason

Answer
Hi Jason:

First re: applying for multiple cards. I have been told that banks will  not let one apply for multiples of the same type card within certain time limits i.e. 90 days.  And we have received turn down notices saying something like 'applied for too many cards within 30 days.'

I'd suggest you apply for different types of cards i.e. business Visa and Business Mastercard or mix a personal and business cards together.
Those should easily go through.

BUSINESS CARDS: A favorite topic.
    RULE ONE: In America you can be simply by thinking and acting like you are.

Is that clear?  OK here is the key example you may choose to follow
and which works indirectly for us:

EX. You have dreamed of opening a business called Jason's Pies.
You buy a cool pie at the market, you print a blank receipt and you include Jason's Pies atop the receipt. You sell the pie to your mother, sister etc. anyone who will pay you $10 for your $5 pie. You keep the receipt in you SALES FILE under Jason's Pies.

In this EXAMPLE YOU JASON, ARE NOW A SOLE PROPRIETOR BUSINESS OWNER. So long as you legitimately started that pie business and made that first sale you can honestly list Jason's Pies on a small business application.After all some applications ask for yearly income and the first category is:
ZERO to $25,000. Get it....as little as zero income!

Banks recognize sole proprietors without any need to list any kind of license or ID number. For many years our CTN newsletter has been and continues to be our small business qualifying us for many, many business cards.

In this example....whether you plan to sell one pie or one million pies is in your head. So long as you believe you have started a business and can show you did the above including an actual sale then that business is REAL and you have become a small business owner. If you sell one pie  and never get around to or find time to sell any more is up to you so long as you have not done anything dishonest. This is the American business dream.....starting with one widget or one PIE. Maybe I've incited you to sell pies or you may have any other product in mind for YOUR BUSINESS.

Good luck. Steve T.