Legal Question in Credit and Debt Law in California

Building New Business Credit

How does a new business build credit? I'm trying to get a business credit card, but all companies that I've come across require SSN and NOT the EIN, is this standard? If so, how will getting a business credit card under my own SSN help the business establish credit? If not, which companies provide credit cards using EIN (if any)?

In addition to credit cards, what other ways are there to establish credit for a general partnership?

Thanks in advance!


Asked on 5/16/02, 2:45 pm

1 Answer from Attorneys
Robert Miller Robert L. Miller & Associates, A Law Corporation

Re: Building New Business Credit

Thanks for your posting. A partnership is still attributable to the partners. Only a corporation is a separate entity that can get its own credit.

In my experience with clients, if the business is less than 5 years old, creditors will want to see both the EIN and a cosigner with an individual SSN sign. Only for corporations with a credit history that is solid and established longer than five years will you be able to establish individual credit in the name of the corporation solely.

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Answered on 5/16/02, 4:19 pm


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