If you have a home based business, what name do you use when applying?

Discussion in 'Other Credit Card Programs' started by Lyssa, Mar 16, 2011.  |  Print Topic

  1. Lyssa
    Original Member

    Lyssa Silver Member

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    I actually do have a home based business selling Longaberger baskets and I file a schedule C on my taxes, etc. I tried applying for the 75k Citi AA biz card and they are putting me through all kinds of drama to prove my business name. I don't have the kind of documentation they want for my business name. I've tried telling them it's a home based, direct selling business, and they do not care. I sent them my tax form and my bank account, but they didn't accept the tax form and still want another document. Ugh.

    So, going forward, what is my best bet for a business name if I apply again? Should I just use my name by itself or what? I thought actually having a real business would help me, but apparently not.

    jbcarioca and Gargoyle like this.
  2. jbcarioca
    Original Member

    jbcarioca Gold Member

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    It does not matter whether it is home-based or not. You need, for Citi normally, an EIN (aka: Employer Identification Number) that is used to file Federal corporate and partnership returns, or a DBA/fictitious Business Name/sole proprietorship declaration that your county or state issues that identifies your name and links it to you.

    Depending on your state/county or residence that will be different, but that documentation will be sufficient, usually, to satisfy Citi.

    The precise requirements do differ from bank to bank.The credit requirements for small business usually require several years (two or three) of tax returns that show the Schedule C detail if it is a proprietorship, the Federal tax returns if a corporation or LLC.

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