Citibank Business Credit Card – Citibank offers several business credit cards with varying levels of rewards and benefits depending on your needs as a small business owner or sole proprietor. These include rewards for online purchases and cash back, so check out the options below to find the best Citibank credit card for your business’s needs.
Citibank Business Credit Card Requirements
Why apply for a business credit card?
A business credit card is essential for a business owner to be able to track expenses and manage cash flow, which can help you keep your business running smoothly. Citibank offers a wide range of cards with low rates and no annual fees.
Benefits Of Citibank Business Credit Card
Citibank Business credit cards are used to improve your business’s cash flow and give you more control over your expenses. Citibank Business credit cards offer more security as there is a low limit on the number of purchases you can make with a card. With no annual fee, these cards are affordable to use and will help you save money in the long run. Plus, it’s easy to manage your spending habits with Citibank’s online account management system where you can set up alerts for transactions that may be out of the ordinary or a monthly statement, which can be customized to your preferences. Maintaining your business’s credit rating is key. By maintaining a solid credit score through CitiBank, you have an easier time getting access to loans if needed and when times are tough.
The best Citibank Business credit cards for small businesses
A Citibank credit card is a great way to handle business expenses and run your business without having to carry cash or checks. Plus, they can be used as a way to make personal purchases if you’re an owner that doesn’t have time to go shopping. We’ve put together this list of the best cards for small businesses so you know what you’re looking for in a card that meets your needs. *CitiBusiness® / AAdvantage® Platinum Select MasterCard®* – This CitiBusiness credit card offers flexible rewards that are tailored specifically for small business owners. You can get up to 20% savings on purchases at participating US restaurants, and earn two miles per dollar spent on all eligible purchases made with the card. Plus, it comes with no annual fee! The only thing that could improve the Citibank Business Credit Card requirements would be a reward system for frequent flyers who use this card. If you travel often, then there are better cards out there for you. If not, this card will suit your needs just fine.
What kind of perks do Citibank business credit cards have?
A Citibank business credit card can be a great perk for your business. This card will allow you to earn rewards points for every purchase, which means you could get some pretty awesome perks with just your normal day-to-day purchases. You’ll also have access to an online account manager that will help you keep track of what’s going on with your finances and make it easier for you to do things like set up alerts and reconcile transactions. The best part about this is that there are no annual fees or balance transfer fees, so whether you’re looking to build a business credit history or consolidate debt, this is a great option.
Can a bad credit score hinder you from getting a Citibank business credit card?
It is possible for a bad credit score to hinder you from getting a business credit card, however, it is not guaranteed. Citibank will review your application and decide if they think you are a good candidate for their card. They use many factors to determine this including your credit score, income, and size of the business. For example, if you have a high income and low debt ratio then you may be more likely to get approved.
Should I let my personal and my company’s card share an account number?
This is a question that has been asked by many people who have access to both personal and company credit cards.
One of the biggest benefits of this shared account number is that it simplifies the process of managing your expenses and you only need to log into one account to keep track of everything. The downside, however, is that you are then sharing your available credit between two accounts which can be risky if you are not careful. If you have already maxed out your personal credit limit then it would be a poor decision to add more debt onto your business card.
What kind of limits can be expected on Citibank business credit cards?
Business credit cards come with a wide range of limits based on the needs and preferences of the cardholder. Some of the more common limits include:
$1,000 to $5,000 in credit lines
No credit limit at all
$500 or less in annual fees
24-hour customer service and fraud protection are just some of the other features that Citibank offers its customers. Other benefits include reward points, low APRs and competitive rates, a zero liability policy, and access to over 50 million worldwide ATMs. For business owners looking for an alternative to traditional bank loans without the hassle of filling out endless paperwork, Citibank Business Credit Cards offer many advantages.
Requirements For Citibank Business Credit Card
Below are the requirements for their Citibank Business Credit Card
-Have at least $10,000 in monthly revenue or an average balance over $10,000 at the end of each month
-Be 18 years old or older
-Not have had any personal bankruptcy within the last 10 years
-Not have any major debt load greater than 30% of net income earned in the last 12 months
-Must be incorporated as an LLC, Corp., Inc., Limited Partnership, Trust, Joint Venture, and a Sole Proprietorship
-Must use this card for all company purchases and not have any other company credit cards
What documents are needed when applying? for Citibank Business Credit Card.
The Citibank business credit card application is available online and can be downloaded in PDF format. For a complete list of documents that are needed, please visit the Citibank website. The following information will be required to apply for the Citibank business credit card:
-Employer Identification Number (EIN) or Social Security Number (SSN) for the company
-Business Tax ID Number if available (e.g. Sales Tax ID, Federal Employer Identification Number, etc.)
-Last two years of federal personal income tax return If you are not a US citizen and do not have an SSN/EIN, please visit the Citibank website for more details on how to proceed with an application.
Applying for a Citibank Business Credit card
To apply for a Citibank Business Credit Card, you will need to fill out the Citibank Business Credit Card Application form online. The application form asks questions about your business and its goals, such as where it was founded and what products or services it offers. You’ll also need to provide your personal information (such as your address and phone number) so that Citi can verify that you are who you say you are.
You’ll be asked to provide copies of certain documentation (such as your articles of incorporation and company registration).
Once Citi has reviewed all of the information in your application, they’ll either approve or decline it.
How long does it take to get approved?
When you apply for a Citibank credit card, you may be asked to provide details on your business, including how long you’ve been in operation and how much revenue you generate. In some cases, the credit card issuer may ask you to submit paperwork verifying your business credentials, such as an original copy of your DBA or articles of incorporation.
Once approved for a Citibank business credit card account, it typically takes 1-3 days for the account to become active and ready for use. Once activated, the account can be used immediately and doesn’t have any fees associated with its use.
