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If you are getting started with business, you are going to want to get set up with some good business credit cards. Credit cards are an excellent way to boost your credit score (much in the same way that personal credit cards boost personal credit) and they also will help you with some of your initial business financing. Many companies offer credit cards for business, including Citibank.
Business credit cards are very useful because business credit is a complex system. While personal credit is built almost completely on credit card repayment and personal mortgaged assets, business credit is based on long term profits, stability, asset holdings and credit repayment. This is very complicated, and unfortunately it often takes a while before you can generate the funds necessary to create the big bucks. However, having a Citibank business credit card can help you substantially; simply apply for the card and direct your merchant charges toward it.
Applying for a business credit card can be tricky at times. You will need to go through a whole bunch of hoops and obstacles, including forming your business, filing your EIN with the IRS, and creating a credit account with Dun & Bradstreet, and designating the right bank accounts and telephone numbers so that you can legally run your business. However, once it is done you will have separated your personal credit from your business credit, which will make your future borrowing schemes much easier. So what are you waiting for? Apply for your Citibank business credit card today!
