So, I love taking advantage of credit card sign-up bonuses to rack up free points. (i.e sign up and receive 50,000 points when you spend $2k in 2 months). So far, these have all been personal credit cards I've signed up for.
Recently I attempted to apply for a business credit card (Chase Rapid Rewards Business Premier) and was denied! (I was told my business was "too new" (7 yrs) and my revenue "too low" (~25k in 2014)) (by the way, my personal score is >750 with no dings)
Most of the credit card churning blogs out there claim that you "don't even need a legitimate business to have a business credit card. Just get on there with your social security number and apply!" Now, I'm not sure how true that is, but I do have what I consider a legitimate business- I currently manage three rental properties.
I don't have an EIN, and I don't even have separate checking/savings for the rentals, but I do manage them and do my own taxes.
So, my questions are as follows:
1) How hard is it to get a business credit card? I thought that managing three rentals and asking for a $5k credit line was a modest request.
2) How can I improve my chances in the future?
3) Should I open "business" checking and savings for my rentals... would that help my ability to get a business card? Are there any other benefits to opening these accounts that I'm overlooking?
I'm not even sure I'm asking the right questions here... please drench me in your knowledge!