Best U.S. Business Credit Cards for ITIN Holders
Best U.S. Business Credit Cards for ITIN Holders
October 13, 2024
4 min read
Introduction
Building business credit in the U.S. as a non-resident is now more achievable than ever, thanks to business credit cards that accept an Individual Taxpayer Identification Number (ITIN) instead of a Social Security Number (SSN). If you’re an ITIN holder looking to establish credit or finance your business expenses in the U.S., this guide reviews the best U.S. business credit cards for ITIN holders, outlining the top choices based on features, rewards, and ease of approval.
Why Choose a Business Credit Card with an ITIN?
Business credit cards offer a practical way to cover business expenses, manage cash flow, and earn rewards, all while building your U.S. credit profile. Using an ITIN to apply for a business credit card provides ITIN holders access to these benefits, even without an SSN. Establishing a good credit history in the U.S. opens doors to future financial opportunities like business loans and better credit limits.
Top U.S. Business Credit Cards for ITIN Holders
1. Capital One Spark Classic for Business
The Capital One Spark Classic for Business card is a solid choice for ITIN holders with a limited credit history. With no annual fee, this card provides unlimited 1% cash back on all purchases, making it ideal for business owners looking to start building credit.
Annual Fee: $0
Rewards: 1% cash back on all purchases
Approval Requirements: Fair to good credit (ITIN accepted)
Benefits: Free employee cards, fraud coverage, and no foreign transaction fees
Best For: Business owners with fair credit looking for a simple rewards structure
2. American Express Blue Business Cash™ Card
Known for generous rewards, the American Express Blue Business Cash™ Card offers 2% cash back on the first $50,000 in eligible purchases per year, then 1% thereafter. This card is great for ITIN holders who make frequent purchases and want to maximize cash back rewards.
Annual Fee: $0
Rewards: 2% cash back on eligible purchases (up to $50,000 annually)
Approval Requirements: Good to excellent credit (ITIN accepted)
Benefits: Expense management tools, purchase protection, and extended warranty on eligible purchases
Best For: High-spending business owners who want maximum cash back benefits
3. Brex Card for Startups
The Brex Card is a standout option for startups and tech-focused businesses. Designed to help startups scale, Brex does not require a personal guarantee or credit score, which can be advantageous for non-U.S. residents. This card accepts ITINs and focuses on cash flow as part of the approval criteria.
Annual Fee: $0
Rewards: Up to 8x points on rideshare, 5x on travel, and 4x on Brex-exclusive marketplaces
Approval Requirements: No personal guarantee needed; eligibility based on business cash flow (ITIN accepted)
Benefits: Includes travel benefits, built-in expense management, and integration with accounting software
Best For: Startups and tech businesses focused on growth
4. Bank of America® Business Advantage Customized Cash Rewards Mastercard®
The Business Advantage Customized Cash Rewards Mastercard® by Bank of America is a flexible card offering a customizable rewards program. Cardholders can earn 3% cash back on a category of their choice (e.g., office supplies, travel), making it ideal for ITIN holders with specific business spending needs.
Annual Fee: $0
Rewards: 3% cash back on a chosen category, 2% on dining, and 1% on all other purchases
Approval Requirements: Good to excellent credit (ITIN accepted)
Benefits: Free employee cards, overdraft protection if linked to a Bank of America business checking account
Best For: Business owners with tailored spending categories looking for flexible rewards
5. Wells Fargo Business Secured Credit Card
For ITIN holders with a limited or no credit history, the Wells Fargo Business Secured Credit Card provides a way to establish credit. This card requires a security deposit, which becomes your credit limit, making it a great option for those looking to build a U.S. credit profile.
Annual Fee: $25 per card
Rewards: 1.5% cash back on all purchases
Approval Requirements: No credit score requirement (secured with a refundable deposit; ITIN accepted)
Benefits: Credit line reviews for potential graduation to an unsecured card, fraud protection, and free employee cards
Best For: New ITIN holders aiming to establish or improve their business credit
Tips for ITIN Holders When Applying for Business Credit Cards
Maintain a Strong Banking Relationship
Building a relationship with your chosen bank can increase your chances of approval. A business bank account can also demonstrate financial stability.Apply Strategically
Avoid applying for multiple cards at once, as this can lead to hard inquiries that temporarily lower your credit score.Use Credit Responsibly
Consistent on-time payments and low credit utilization are key to building a positive credit history. Aim to use less than 30% of your available credit limit.Monitor Your Credit Score
Regularly check your U.S. credit score to track your progress. Services like Experian or Credit Karma offer tools for monitoring credit scores and understanding credit-building factors.
FAQs About U.S. Business Credit Cards for ITIN Holders
Q: Can I get a business credit card with only an ITIN?
A: Yes, several U.S. banks and card issuers offer business credit cards that accept ITINs, especially for non-residents.
Q: How can I improve my chances of getting approved?
A: Start by building a relationship with a U.S. bank, maintain a positive banking history, and choose cards that accept ITINs for non-residents.
Q: Are there any secured business credit cards for ITIN holders?
A: Yes, Wells Fargo and some other institutions offer secured business credit cards, which can be ideal for ITIN holders with limited credit history.
Conclusion
The best U.S. business credit cards for ITIN holders make it possible for non-U.S. residents to establish business credit, earn rewards, and access financial services. From flexible rewards to secured options for credit-building, these cards offer a range of benefits for ITIN holders seeking to grow their business. Choose a card that aligns with your spending habits and business needs, and take the steps necessary to build a strong U.S. credit profile.
