How to Report Revenue on a Business Credit Card Application

Issuers use annual revenue, along with income and personal credit score, to determine approval for a business credit card.

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When reporting annual revenue on a business credit card application, issuers generally want to know your verifiable gross revenue from the previous year. While it’s tempting to puff up your total or include projections, a big revenue number isn’t necessary to get approved.

Annual business income is just one factor issuers consider; most card issuers also look at your personal credit history and income. That means even new businesses with little to no revenue can qualify for one of the best business credit cards if the owner has a strong personal credit score.

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What is annual business revenue?

Annual business revenue is the total income your company generates over the course of a year — from products sold, services performed, fees received and interest or dividends earned — before subtracting tax deductions or operating expenses.

This figure is important, as it’s needed to apply for a business credit card, file taxes and qualify for a small business loan, among other things.

How to report revenue for business cards

It’s important to stick to the facts when reporting your business’ gross annual revenue on a business credit card application. But don’t sell yourself short. Here’s what to do.

Determine your gross annual revenue. This is your revenue before taxes and other expenses are taken out. This is different from profit, which is revenue minus costs.Gross revenue can include several sources of business income, such as selling business products and services, surplus equipment or property or even stock in your business.

Exclude any personal income. If you work a full-time job and sell items on eBay as a side hustle, for example, income from your full-time job shouldn’t be considered “revenue.” Instead, include it in the “income” field of the application.

Pull revenue from the right time frame. Your figures should be from the previous year. Generally, that means you shouldn’t be reporting sales projections as revenue, although some issuers may be OK with that if your business is new.

Make sure you can verify any information. Don’t report it if you can’t verify it. In some cases, issuers may ask you for paperwork to back up the numbers you reported, so it’s best to stick to what you can prove.

Update your revenue information as needed. Your company’s revenue can influence your credit limit. If your verifiable annual revenue improves after you’re approved, be sure to update that information with the issuer — especially if you want a business credit card with a higher limit.

Does your business generate a lot of revenue? Consider a corporate credit card. These cards are only available to incorporated businesses, and approval is based on factors like annual revenue and money in the bank instead of personal credit. For businesses that qualify, corporate cards can offer greater spending power — with no personal guarantee.

Can new businesses get a credit card without any revenue?

New businesses can still get a business credit card, even if they don’t yet have revenue. Simply put $0 in the annual revenue field if your business has no actual revenue. Issuers will instead look at your personal income and credit score to determine approval and credit limit.

You also don’t have to have a registered business — say, a limited liability company or an S corporation — to report revenue on a small-business credit card application. You can also report revenue as a sole proprietor.

If you’re a sole proprietor, be sure to indicate this on your application when the issuer asks about your business’ legal structure. And in the field where you add your business tax ID, put your Social Security number instead.

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Claire Tsosie is an assigning editor for the travel rewards team at NerdWallet. She started her career on the credit cards team as a writer. Her work was featured by Forbes, USA Today and The Associated Press.

Kelsey Sheehy is a senior writer and NerdWallet authority on small business. She started at NerdWallet in 2015 and spent six years as a personal finance writer and spokesperson before switching gears to cover the financial decisions and challenges faced by small-business owners. Kelsey’s work has appeared in The New York Times, The Washington Post, Nasdaq and MarketWatch, among other publications. Kelsey has appeared on the "Today" show, NBC News and ABC’s "World News Tonight" and has been quoted by the Los Angeles Times, CNBC, American Banker, NPR and Vice, among other publications. Prior to joining NerdWallet, Kelsey covered college (and how to pay for it) for U.S. News & World Report. She is based in Washington, D.C.

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