Can an EIN Be Used to Obtain Credit Cards?


Quick Answer

An independent business entity, such as a corporation, can use a federal employer identification number to obtain a business credit card. An EIN is the company's account number with the Internal Revenue Service, and financial institutions use it in the same way as an individual's Social Security number to extend credit.

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Full Answer

Legally independent business entities can establish a credit history under an EIN. The business can apply for a credit card, and the financial institution will evaluate the creditworthiness of the company and the business owners before issuing a card. The credit card would be issued in the name of the company with the owner or other employee as an account user. However, an EIN can't be used as a substitute for the owner's Social Security number for credit extended to the owner in an individual capacity according to the FTC.

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