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You're on the hunt for a business credit card, but you don't have a fully established business. As tempting as a $1,000 sign up bonus is, you can't justify taking the time to get a business license, EIN, and everything else that comes with a completely established business.
However! You do have some kind of side hustle. Have you photographed a friend's headshots? Have you sold on eBay or Amazon? Do you deliver food? Drive for Uber? Freelance online? Congratulations! You just might qualify for the legendary Chase Ink Preferred!
Why the Chase Ink Preferred?
The Chase Ink Preferred is arguably the best small business credit card on the market (many rank it among the best credit cards period). The Chase Ink Preferred comes with a sign up bonus of 80,000 Ultimate Rewards points, which is valued at well over $1,000. That's easily enough for a new camera, an international round trip, multiple domestic flights, or anything else. You can also transfer to a variety of Chase airline partners to get even more value (up to $1,600).
In addition, this is the card to put all of your bills on: you'll earn triple UR points for travel, advertising on social media, and your phone, cable, and internet bills.
Other benefits include insurance for cell phones, car rentals, baggage theft, and trip delays. Other less sexy, but still incredibly important perks include free employee cards, no foreign transaction fees, and fraud protection.
Okay, I'm sold. Just tell me how to get it
The answer is frighteningly simple: sign up at this link with your name as the business name, and social security number as your Tax ID number. Select "Sole Proprietorship" as the type of business, then 1 for number of employees if it's just you.
Put your annual income, and whatever the income of your side hustle is (estimates are fine, but don't stretch the truth too much; some folks say you can put 0, but if you don't have too much prior credit history with Chase, I'd recommend putting at least $1,000).
For business phone and address, simply write in your own. Match the type of business with whatever your side hustle is (note: I'm a photographer, so I put "Independent Artists" for my application").
That's it! Now, some FAQs below:
But don't I need an EIN?
As a sole proprietorship, your social security number counts as your tax ID.
Won't they ask for proof of my business?
Not likely. They may call you asking questions about your business, but as long as you can smooth talk your way through that conversation, you'll be fine.
Are you sure?
What kinds of questions would they ask?
At the VERY small chance you get called by Chase, the most common questions they'll ask you are: Why do you want this card? What are your projected earnings for 2019? How long have you been doing this? What is your business?
What if I don't get approved?
You can say you tried! There are plenty of other great business cards like the Chase Ink Unlimited that have $500 sign up bonuses and are easier to get approved for. Then you can always try again.
I have more questions - can I contact you?
Sure! Fill out this contact form.