Getting a business credit card for the rewards without a small business

[brandino29]

I just found out that the Capital One Spark Business card offers a $500 cash back bonus after spending $4,500 in the first 3 months and then 2% cash-back on all purchases everyday.  Sounds like an incredible deal --- the problem is we don't have a small business. 

Is it still possible for us to apply for this card?  I noticed in the "additional disclosures" of the card application that it states "Acknowledge and agree that all cards and convenience checks will be used solely for business or commercial purposes and not for personal, family or household purposes." 

Am I in ethically murky territory if I take this route?

[norabird]

I would say yes to the murky territory. There are good offers for consumers--stick to those. Or start a small business.

[Rubic]

Not advising you to do this, but many people apply for and receive business credit cards by declaring themselves as a sole proprietor and using their SSN as their tax ID.  If asked for documentation, they'll respond that they're starting up an ebay business.  The bank generally is mainly interested in your credit score, i.e. your ability to pay.  If you haven't had credit for long (< 5 years) or don't have an excellent credit score, it won't be worth the hard pull on your credit.  If you decide to proceed anyway and get declined, immediately call the reconsideration department and be prepared to plead your case.

Note: One difference between personal and business cards is the former offers certain consumer protections not provided to business card holders.  I've never had a problem with this (two business credit cards for an actual LLC), but it's something you should be aware of.

[tj]

I don't even use my SSN, i used an EIN I applied for a tax prep biz that I never got around to starting. I don't think it's ethically murky. These cards all have personal guarantees, so it's not liek you could say your business went bankrupt but you didn't.