Yes, an Employer Identification Number (EIN) can be used to apply for a credit card, primarily for business purposes. This allows for a clear separation between personal and business finances, aiding in building a credit profile for the business. While the EIN is utilized, some credit card issuers might still require a personal guarantee from the business owner. This means that the owner could be personally responsible for the debt. Carefully reviewing the credit card terms and considering financial advice beforehand is advisable.
Updated over 8 months ago