How To Report Revenue On A Business Credit Card Application

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How To Report Revenue On A Business Credit Card Application Via ForbesAdvisor

card issuer requires gross annual revenue from the previous year on a business card application. The applicant should report all revenue before taxes and expenses.Credit card issuers use three things to assess whether the applicant will spend responsibly and be able to make monthly card payments on time:Issuers also use this information to set a credit limit. The greater the business revenue, the more likely the applicant business will be approved—and the larger the limit.

Small business owners may opt to, or be requested to, report both business revenue and personal income in order to guarantee to the issuer that they’re capable of making monthly payments on their business card. Keep in mind a business card applicant does not need to have a registered business in order to qualify. Sole proprietors can also qualify for a small business credit card. Simply report the previous year’s earnings as revenue.

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