How to Acquire Corporate Credit
- 1). Acquire a business license and register your business name. If you're establishing a new business or corporation, visit your local city hall to apply for a license and register your name. Business license fees vary.
- 2). Request a tax identification number. Rather than use your Social Security number to file business taxes, begin separating your business from your personal identity by applying for a free tax identification number. Request a number from the Internal Revenue Service's website (IRS.gov).
- 3). Get a bank account in your corporation's name. After registering your business name, visit your bank or credit union and open a business account.
- 4). Open a secured business credit card with your bank. Once you have opened a business account with your bank, you're eligible for a secured business credit card in your corporation's name. Talk with the bank representative and inquire about security deposits and application fees for secured accounts.
- 5). Pay your business credit card on time. Getting a secured credit card for your business is only the first step to establishing corporate credit. Pay your credit card statement on time each month to establish a good payment history and slowly build a good rating.
- 6). Apply for small-business loans. Having more than one business credit line helps build your corporation's credit history. Apply for a small line of credit or loan with your bank. Use collateral such as a vehicle title or jewelry to secure the loan.
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