the business credit cards for startups
Betsy Wise
By: betsy_wise
Read in 33 minutes

10 Best Startup Business Credit Cards With No Credit In 2022

If you’re looking for startup business credit cards with no credit, you’ve landed in the right place.

This post lists which startup business credit cards are the best. When you finish reading, you’ll also know how to pick, apply and use a credit card to your advantage.

A business loan may be a smarter option if you need capital to fund a startup.

Apply For A Startup Loan!

 

15 Best Business Credit Cards For Startups

Here you’ll find some of the best business credit cards for new businesses.

Unsecured Credit Cards For Startups

An unsecured credit card is a traditional credit card that requires no security deposit.

Delta SkyMiles Gold Business American Express Card

Rating: 4.5/5 ⭐

Annual Fee: None the first year, $99 after that

Intro APR: None

Regular APR: 15.74% – 24.74%

Personal credit score needed: 690 – 850

Other benefits and perks:

  • Limited time offer to earn 75,000 bonus points when spending $3,000 in the first 3 months.
  • Receive $100 off on Delta flight after spending $10,000 in a calendar year.
  • Earn 2 miles for each dollar spent on certain purchases and 1 mile for all other purchases.
  • This business credit card has no foreign transaction fees.

Reviews:

  • Best card for small business owners traveling frequently and needing to earn miles rewards for purchases.
  • Doesn’t have as many benefits as other business cards.

Capital One Spark Cash Select

Rating: 4/5 ⭐

Annual Fee: None

Intro APR: 0% for 12 months

Regular APR: 15.99% to 23.99% variable

Personal credit score needed: 700 – 749

Other benefits and perks:

  • No foreign transaction fees.
  • $0 fraud liability on lost and stolen cards.
  • Unlimited 1.5% cash back on purchases and no limits or category restrictions.
  • Rewards don’t expire.
  • Redeemable cashback rewards regardless of the amount.
  • Free employee cards.
  • Ability to download purchases to accounting software like Quicken, Excel, and QuickBooks.

Reviews:

  • This is one of the best credit cards for small business startups because cardholders enjoy not paying an annual fee and taking advantage of the introductory 0% APR.
  • The unlimited cashback offer and other benefits and perks are a big plus for businesses building and developing revenue streams.

American Express Blue Business Plus Credit Card

Rating: 4/5 ⭐

Annual Fee: None

Intro APR: 0% for 12 months

Regular APR: 13.24 to 21.24% variable

Personal credit score needed: 690 -850

Other benefits and perks:

  • Get 15,000 Membership Rewards points after spending $3,000 for eligible purchases within the first 3 months.
  • Earn twice the Membership Rewards points on the first $50,000 in business purchases per year and 1 point per dollar after that.
  • You can redeem points for gift cards, a statement credit, airfare, and online purchases.

Reviews:

  • This is one of the best startup business credit cards because cardholders enjoy its 0% introductory rate and no annual fee.
  • Unfortunately, the credit score requirement keeps some applicants from qualifying.

Bank of America Business Advantage MasterCard

Rating: 4/5 ⭐

Annual Fee: None

Intro APR: 0% for the first nine billing cycles

Regular APR: 12.24% – 22.24% variable

Personal credit score needed: 740 – 850

Other benefits and perks:

  • Introductory $300 bonus after making purchases totaling $3,000 within the first 90 days as a statement credit.
  • Cashback deposit into Bank of America checking or savings account or as a paper check.
  • 3% cashback in a preferred category and 2% cashback on dining on the first $50,000 in combined categories, and 1% cash back for other purchases.
  • Earn more significant rewards with Preferred Rewards for Business.
  • Roadside assistance.
  • Travel accident insurance.
  • Zero fraud liability protection.

Reviews:

  • Excellent customer service and mobile app ratings, customizable card allowing you to choose bonus categories.
  • The card doesn’t offer as many business benefits compared to other cards.

Discover It Business Card

Rating: 4/5 ⭐

Annual Fee: None

Intro APR: 0% for 12 months

Regular APR: 12.99% – 20.99%, variable

Personal credit score needed: 670 – 850

Other benefits and perks:

  • Discover matches the cash you’ve earned at the end of the first year (sign-up bonus).
  • 1.5% unlimited cash back.
  • Free employee cards with spending limits.
  • No foreign transaction fees.
  • Cardholders can redeem cash at any time.

Reviews:

  • Good for businesses that need start-term financing.
  • You can’t choose bonus categories to earn higher cash yields.

American Express Blue Business Cash Card

Rating: 3.5/5 ⭐

Annual Fee: None

Intro APR: 0% for 12 months

Regular APR: 13.24% – 21.24% variable

Personal credit score needed: 700 – 749

Other benefits and perks: 

  • $250 rewards bonus for making $3,000 in purchases first 3 months.
  • 2% cash back on purchases up to $50,000 per calendar year, then 1%.
  • Car rental loss and damage insurance, extended warranties, travel assistance hotline, rewards when paying vendors, and purchase protection.
  • With “Expanded Buying Power,” you can purchase over your credit limit.

Reviews:

  • The Blue Business Cash is good for startups needing 0% introductory APR to get the most bang for the buck.
  • Business-related benefits and rewards help small business owners save money.

U.S. Bank Business Triple Cash Rewards World Elite Mastercard

Rating: 3.5/5 ⭐

Annual Fee: None

Intro APR: 0% for 15 billing cycles

Regular APR: 13.99% to 22.99% variable

Personal credit score needed: 700 -749

Other benefits and perks:

  • Limited offer to earn $500 cash back when spending $4,500 within the first 150 days after opening an account.
  • 3% cash back at gas stations, office supply stores, cell phone providers, and restaurants on eligible purchases.
  • 1% cash back on all other eligible purchases.
  • Unlimited cashback earnings.
  • Rewards don’t expire.
  • $100 statement credit for FreshBooks or QuickBooks software subscriptions.

Reviews:

  • Good for businesses with good credit and those that want to save money by earning rewards/bonuses and not paying an annual fee.

Ink Business Cash Credit Card

Rating: 3.5/5 ⭐

Annual Fee: None

Intro APR: 0% for 12 months

Regular APR: 13.24% to 19.24% variable

Personal credit score needed: 700 – 749

Other benefits and perks:

  • $750 cash back after spending $7,500 during the first 3 months after opening the account.
  • 5% cash back on the first $25,000 spent at office supply stores and on internet/cable/phone services each year.
  • Then, 2% cashback on $25,000 spent at gas stations and restaurants annually, and 1% cash on other purchases.
  • Cardholders can redeem rewards for cash back, gift cards, travel, etc., fraud protection, and zero liability for unauthorized charges.
  • Cardmembers can use Chase Ultimate Rewards to redeem points with no annual fee redeem rewards.

Reviews:

  • High earnings yield for businesses using these types of services.
  • This is on our list because of its no annual fee, no sign-up bonus, and 0% introductory rate, which are money savers.
  • However, the ink business cash credit isn’t advantageous for businesses that spend more than $25,000 in select categories.

Brex Corporate Card For Startups

Rating: 3.5/5 ⭐

Annual Fee: None

Intro APR: None

Regular APR: None; you pay the balance daily and monthly.

Personal credit score needed: 300 – 850

Other benefits and perks:

  • Receive 10,000 points on the first $1,000 spent, another 10,000 points when spending $3,000 in the first 3 months, and 20,000 points when linking your payroll information to your Brex account.
  • Receive 1 point for every dollar you spend and an unlimited reward through Brex’s Exclusive Rewards Program when making Brex Card your only company card.
  • No credit check, no personal guarantee required, no account fees, no interest, no foreign transaction fee, no revenue or SSN required.

Reviews:

  • This business credit card with no credit check is best for cardholders with bad credit and no credit history but with consistent revenue to pay off the balance daily or monthly.
  • $50,000 bank balance required for monthly payments.
  • No minimum requirement for daily payments.

Ink Business Unlimited Credit Card

Rating: 3/5 ⭐

Annual Fee: None

Intro APR: 0% introductory rate first 12 months

Regular APR: 13.24% – 19.24%

Personal credit score needed: 690 – 850

Other benefits and perks:

  • $750 cash back bonus after spending $7,500 within the first 3 months.
  • Unlimited 1.5% cashback on all purchases.
  • You can redeem rewards for cash, gift cards, and travel.
  • Auto rental collision damage waiver.
  • Employee cards.
  • Purchase and extended warranty protection.

Reviews:

  • It doesn’t offer bonus categories. However, businesses can make larger purchases during the first 12 months without paying interest.
  • Cardholders like being able to earn rewards when paying for everyday business expenses.

Secured Credit Cards For Startups

A secured card requires a refundable security deposit that, most often, works as your credit limit. Because of this, it’s easier to qualify for them, and sometimes you don’t even need to have a personal or business credit score.

First National Bank Business Edition Secured Visa Card

Rating: 5/5 ⭐

Annual fee: $39

Regular APR: 20.24% variable, Cash advance 25.24% variable

Credit score needed: Recommended 300 – 719

Other benefits and perks:

  • Applicants can request a specific credit limit between $2,000 and $100,000.
  • Security deposits earn interest.
  • Prequalifying doesn’t impact the credit score.

Reviews:

  • This secured card helps applicants prequalify even if their credit is bad.
  • Cardholders can manage their accounts online, track spending, set up alerts, and control cash flow.

Discover It Secured Credit Card

Rating: 4/5 ⭐

Annual Fee: None

Regular APR: 23.74% variable

Credit score needed: No credit score required

Other benefits and perks:

  • Security deposit amounts begin at $200.
  • Pre-approval does not harm credit.
  • 2% cash back at gas stations and restaurants up to $1,000 each quarter of combined purchases.
  • Unlimited 1% cash back for all other purchases.
  • Unlimited cash back match on cash earned the first year.
  • Free FICO credit score review (appears on monthly statements).
  • Automatic monthly account reviews begin after 7 months to upgrade to an unsecured card.

Reviews:

  • Cardholders feel it’s the best secured business credit card to improve credit score.
  • Applicants are happy they can qualify with limited or bad credit.
  • One of the biggest benefits is that Discover reports payments to the major consumer credit bureaus.

OpenSky Secured Visa Credit Card

Rating: 3.5/5 ⭐

Annual fee: $35

Regular APR: 17.64% variable

Credit score needed: No credit history required

Other benefits and perks:

  • $200 minimum security deposit (deposit becomes card holder’s credit limit).
  • No credit check.
  • Issuer considers cardholders for credit line increase or unsecured card after 6 months.
  • OpenSky reports to major credit bureaus.
  • Roughly 50% of cardholders improve their FICO score by 30 points within 3 months.
  • Flexible payment due dates.

Reviews:

  • This secured no credit check business credit card is an excellent option for individuals with poor credit histories.
  • People don’t like that OpenSky charges an annual fee and doesn’t offer rewards.

Citi Secured Mastercard

Rating: 3.5/5 ⭐

Annual Fee: None

Regular APR: 23.24% variable

Credit score needed: No credit history required. Citi reviews the applicant’s income and debt information

Other benefits and perks:

  • Citi reports to major credit bureaus.
  • Businesses worldwide accept Mastercard.
  • $200 minimum security deposit equals credit limit. $2,500 maximum deposit.
  • Manage the spending online.
  • Set up auto payments and account alerts.
  • Cardholders can choose the payment date.
  • Free FICO credit checks.

Reviews:

  • Cardholders like the no annual fee savings.
  • The secured card helps build credit for those with no or limited credit.
  • One drawback—Citi doesn’t review accounts until 18 months to determine whether card holders can upgrade to an unsecured card.

Capital One Quicksilver Secured Cash Rewards Credit Card

Rating: 3/5 ⭐

Annual Fee: None

Regular APR: 26.99% variable

Credit score needed: 300 – 629

Other benefits and perks:

  • $200 minimum security deposit. $1,000 to $3,000 credit line increase available after 35 days.
  • Earn 1.5% cash back on every purchase.
  • 5% cash back for hotel and rental car purchases made through Capital One Travel.
  • Cardholders can add authorized users.
  • Capital One reports payments to all 3 credit bureaus.

Reviews:

  • People are happy that using the secured card wisely enables cardholders to build credit and then upgrade to an unsecured card.

Secured vs Unsecured Credit Cards: Which One Is Better For Your Small Business?

*Star rating and reviews for all cards taken from WalletHub on June 2022.

BONUS: A Financing Alternative For Startups

Business credit cards for startups seem like an easy choice until you can’t pay off the balance each month and incur late fees. Not to mention, some business credit card issuers charge high annual fees and variable interest rates that fluctuate.

They may even ask you to provide a personal guarantee should your business fail to pay off the balance.

Plus, you need to consider that you should only use around 30% of your credit limit to keep a good credit score. So you might not be able to use as much capital as you wanted to.

That’s why business loans for startups are a better alternative.

Camino Financial’s Startup Loan

Camino Financial’s Solopreneur loan provides advantages you can’t get with small business credit cards.

Our minimal requirements help borrowers qualify for financing when turned down by traditional bankers. Namely, we accept SSNs and ITINs, require that you have an active banking account, and generate $1,500 a month in sales.

Sole proprietors, independent contractors, and other self-employed small business owners can apply for loan amounts ranging from $1,500 to $7,500.

Lastly, you don’t need a previous personal credit history to apply.

Get Approved For A Loan Today

Pros And Cons Of Startup Business Credit Cards

Startup business credit cards can be excellent tools, but they’re not always the right option. Here are their advantages and disadvantages.

Pros:

  • The best business credit cards for startups help your business increase its profit margin and improve cash flow.
  • By having an additional source of cash, you can set aside personal funds to set up an emergency fund.
  • These cards are easy to get, they don’t require a lot of documents or financial history.
  • Many cards offer a 0% introductory rate for a specified time.

Cons:

  • The spending limit may not be enough to match your monthly budget.
  • You risk damaging your personal credit score if you can’t pay off the credit card balance on time.
  • Paying annual and late fees and interest reduces your business’s profit margin.
  • Variable annual percentage rates can increase at any time.

Most Common Cardholder Benefits

  • Purchase, cell phone, fraud, and extended warranty protection for purchases within a specific period.
  • Personal liability protection if someone attempts to use your card illegally.
  • Travel rewards may include free baggage checks, upgraded seats on flights, miles points, travel insurance policies, trip cancellation insurance, rental car insurance damage, and discounts at lounges, hotels, and restaurants.
  • Welcome sign-up bonuses can start at $100 and go as high as $750 or more.
  • Initial 0% introductory APR for a specified time
  • They don’t charge annual fees or fees after the first year
  • Cardholders can choose categories to maximize earnings based on where they shop the most.
  • Some business credit cards for startups allow cardholders to choose how to receive cashback, whether as a statement credit, gift card, cash deposit, or other types of reward redemption.
  • Businesses can track expenses and export purchase information to accounting software, such as QuickBooks, Excel, Quicken, and other programs.

How To Pick A Credit Card

Use these tips to get the best business credit cards for startups.

Know Your Credit Score

Your credit record is one of the most critical factors that the business card issuer will consider. In addition, it will play a role in determining your account’s interest rate and other terms.

If you don’t know your credit score, you can get a free report from each of the three major credit bureaus.

#DidYouKnow
When credit card issuers do a personal credit check, they might do a hard pull (which hurts your credit) or a soft pull (which doesn’t hurt your credit).

Review Minimum Requirements

Preconditions may include a personal guarantee, minimum credit score, annual fee, and paying off balances each month.

Consider Benefits

Advantages may include:

  • 0% intro APR
  • no fees for foreign transactions
  • travel rewards
  • purchase protection
  • no annual fees
  • cash back on purchases
  • new cardholder offers
  • bonus rewards
  • fraud protection

#CaminoTip
You should also choose a card that helps you build business credit.

Get A Card That Matches Your Business Expenditures

Cards offer discounts based on categorized spending. Examples include deals on gas, restaurants, flights, shipping, phone services, etc.

Coordinate Spending

Startups can take advantage of 0% introductory rates by making purchases and paying off the balance without paying interest.

Take Advantage Of Additional Benefits

Business credit cards may include extended coverage and insurance on certain purchases or travel and auto rental insurance. Other perks include itemized receipts and syncing purchases with specific accounting software.

#CaminoTip
There’s no best credit card for your startup business, the choice depends on your needs and the requirements of each one.

Business Credit Card Requirements

When applying for business credit cards for startups, you should expect to provide the following information.

  • Business legal name
  • Your legal name
  • Contact information. Personal and business mailing addresses and phone numbers which for sole proprietors may be a home address
  • Business bank account information
  • Business structure. Typical entity types include sole proprietorship, partnership, limited liability corporation, and corporation.
  • Industry type
  • Number of years in business
  • Taxpayer ID number: Social Security Number (SSN), Employer Identification Number (EIN), or Individual Taxpayer Identification Number(ITIN) if accepted
  • Annual business revenue
  • Other income
  • Monthly business expenses
  • Business and personal credit history. The credit card company will run a credit check using your SSN or EIN.
  • Personal guarantee. Credit card companies may or may not require collateral.
Camino Financial loans have minimal requirements

Other Approval Rules

Each credit card issuer may limit its risk by placing guidelines on its approval standards. For example, a credit card issuer may limit how many total cards you can have at one time, including personal and business credit cards. 

Other card issuers may reject applicants for a new card depending on how many they’ve opened in a specific time frame or put an application on hold when you have several pending credit requests.

A credit card lender may restrict welcome bonuses to “once per lifetime” to prevent applicants from opening and closing accounts just to earn a reward or let you open as many accounts as you prefer with them.

Steps To Apply For A Business Credit Card For A New Business

Follow these steps when applying for business credit cards for startups.

  1. Be prepared. Know what your personal and business credit scores are before applying. You can get a free annual report from any of the 3 major credit-reporting bureaus.
  2. Decide on which credit card to apply for. You must research several startup business credit cards to apply for the one that’s right for you and provides the most benefits.
  3. Gather the information you need. Use the list above detailing what you need to apply for business credit cards for startups. Have everything in front of you before you apply.
  4. Complete the application. Complete every line and section of the application. Review the information thoroughly before you submit it.
  5. Wait to hear from the credit card company. Once you apply, the credit card company may provide an approval decision immediately or contact you later.
  6. Receive the card and activate it. Once approved, you should receive your business credit card within 7 to 14 days. Activate the card when you receive it to start making purchases and take advantage of card rewards.

Tips To Make The Most Of A Business Credit Card

Using a business credit card wisely reaps the highest rewards.

Take Advantage Of Rewards

Business credit cards for startups may offer:

  • cashback on purchases
  • free employee cards
  • travel bonuses
  • no foreign transaction fees
  • a 0% introductory rate
  • and other advantages when making purchases

Get every benefit that’s coming to you to increase business profit.

Pay Off The Balance Each Month

Making minimum payments indicates to the major business credit bureaus that you may have cash flow problems. You establish a favorable credit history by paying the balance in full each month and aren’t charged interest on the unpaid amount.

Keep Business And Personal Expenses Separate

Established businesses know it’s bad to commingle personal and business expenses. It’s called a business credit card because you only use it to make business purchases.

#DidYouKnow
Because a business card separates personal and business expenses, you simplify accounting and maximize legitimate tax deductions.

Don’t Max Out Your Spending Limit

You should only spend 30% of your available credit at most. For example, if your card limit is $1,000, then spend about $300 each month to keep your credit utilization at an acceptable level.

Create Individual Spending Limits

If you permit employees to use your business credit card, set an amount for each employee that doesn’t exceed 30% of your card’s total credit limit.

Short Term Business Loans vs. Credit Cards

Understand Credit Card Fees

You can keep money in your wallet by understanding credit card fees and choosing a credit card that doesn’t charge certain fees.

For example, you will save money as long as the business credit cards for startups don’t charge an annual fee. Additionally, the same applies when a card issuer doesn’t charge foreign transaction fees which can be as much as 3% for every international purchase.

Some credit card issuers offer free employee cards, although it’s possible to pay $45 to $300 for each employee card issued.

You will only pay interest on a balance carried forward and no interest as long as you pay off your account each billing period.

With a 0% introductory APR, you won’t pay interest during that period, but you will have to make the minimum payment each month.

Pay special attention to when the introductory period ends so you pay the balance in full, or you’ll have to pay the applicable variable APR.

Other standard credit card fees include late payment, cash advance, balance transfer, returned payment, and over-the-limit fees.

Before you apply for business credit cards for startups, make sure you understand what fees the company charges, which they should list in their terms and conditions agreement.

How Startup Business Owners Can Create Business Credit

Starting a business from scratch usually means you have little or no credit history. Take these steps to build business credit quickly.

  • Obtain licenses, permits, and other documents your state or county requires.
  • Businesses using a DBA name or other legal business name build brand awareness which helps vendors and customers feel more comfortable selling and buying from them.
  • Apply for credit with suppliers.
  • Open a business bank account.
  • Choose creditors that report payments to the 3 major credit bureaus.
  • Start paying for supplies and business expenses with your credit card. Then, pay off the balance in full each month to build a positive credit history.
  • Using 30% of your available credit builds your credit score faster and indicates to creditors that you’re financially responsible and can repay debt.
  • If you pay building rent and utility expenses, ask the landlord and utility company to report your payments to the credit bureaus.

Is A Startup Business Credit Card Right For Me?

Getting help to pay startup expenses keeps you from using personal funds to pay for purchases. Even better, if you haven’t established business credit, a startup business credit card can help you do that when you use it responsibly.

These credit cards can help reduce your business’s cash flow and ultimately increase your business’s overall profit by taking advantage of cashback rewards on business-related expenses and sign-up bonuses.

But the truth is that business credit cards for startups are not the only financial products at your disposal.

Explore other types of short-term financing if you have poor credit and can qualify for a fixed, lower rate by getting a small business loan.

Get a business credit card when:

  • You want to pay for regular, smaller expenses
  • You will take full advantage of bonus rewards

Get another financial product when:

  • You want to make a substantial purchase
  • You want a financial product with lower rates

#DidYouKnow
A startup business loan could be an incredible option for you.

Your Financing Decision Just Got Easier

The best startup business credit cards with no credit might seem like a quick way to provide working capital to establish and launch your business. However, they may fail to provide sufficient cash flow or build a credit history in the long term.

A small business loan is a smarter option providing more significant benefits to businesses just getting started.

A Camino Financial startup loan could be exactly what you’re looking for. Not only do we provide fast funding, but throughout the loan process, our motto “No Business Left Behind” motivates us to help clients achieve their business goals.

We also offer educational and financial resources to our members.

We invite you to apply today, discover how we’re different, and obtain the funds you need so your business excels.

Apply now!

 

FAQs

What’s the best credit card for startup businesses?

There’s no one-size-fits-all answer.

The best business credit card is the one that matches your bonus and credit limit needs and has requirements you can meet.

Can startups get business credit cards?

If the applicant meets the credit card company’s minimum requirements, like credit history, they should get a business credit card.

Can you get a business credit card if you have an LLC?

The structure of your business shouldn’t affect your credit card application. In other words, you can get business credit cards for LLC startups.

Keep in mind that only authorized officers of LLCs can apply for a business credit when they’re legally permitted to sign the credit card application on behalf of the company. The LLCs operating agreement lists the officers.

How do small businesses establish credit?

Here are some ways to build business credit and personal credit:

  • Having a business bank account
  • Setting up a business line of credit with vendors and supplies
  • Paying bills on time
  • Making timely loan payments
  • Paying off a business credit card balance each month
  • Not spending more than 30% of their credit limit

What is the easiest business credit card to get?

Applicants with good credit and meet other minimum requirements should qualify for the American Express Blue Business Cash card.

What credit score do you need for a business credit card?

Business credit cards usually require a good credit score of 650 or higher to get the best interest rates.

Can I get a business credit card with bad credit?

It’s possible to have a bad credit score and get approved; however, credit card companies charge the highest rates to the riskiest applicants.

What are some bad credit business credit cards?

If you have a bad credit score, you could consider these cards:

  • Wells Fargo Business Secured Credit Card
  • OpenSky Secured Visa Credit Card
  • Credit One Bank Platinum Visa for Rebuilding Credit
  • Capital One Platinum Secured Credit Card

As you’ll notice, if you have bad credit, unsecured easy business credit cards for startups are your best alternative.

Can I use a business credit card for personal expenses?

You could, but it’s not a good idea since you’re establishing credit for your business. In addition, lenders won’t see you as a business professional when you mix personal and business expenses.

Plus, mixing expenses makes it harder to sort out which purchases are your business’s.

Do I need an EIN to get a small business credit card?

Not really.

Your business can be a sole proprietorship, which operates using the owner’s SSN or ITIN.

Some sole proprietors get an Employer Identification Number, so their business appears more professional among suppliers and clients, but you don’t need one to apply for a business credit card.

What are the best business credit cards for startups with fair credit?

These are some of the best business credit cards for poor credit:

  • Capital One Spark Classic for Business
  • OpenSky Secured Visa Credit Card
  • Wells Fargo Business Secured Credit Card
  • Business Edition Secured Visa Credit Card

Why use a business credit card for my new business instead of my personal credit card?

Separating your business and personal expenses enables you to track your business expenses by setting up spending categories. Then, you can take legitimate tax deductions on your tax return.

Plus, business credit cards for startups establish credit specifically for your business to help you qualify for future loans.

Can I get a business credit card if I have no business credit?

Lenders that offer no credit business cards require a security deposit which usually equals the credit limit amount. This helps borrowers build credit quickly when they make purchases and pay off the balance each month.

Then, they can upgrade to a business credit card with better terms and rewards.

What are business credit cards with no personal guarantees?

The business is legally responsible for repaying the debt. Therefore, the business owner puts its business accounts and assets at risk should the company fail to pay off the debt. However, the individual’s personal assets are not at risk.

What are secured business credit cards?

To approve the loan, the lender requires security in the form of a cash deposit. If the business fails to repay the debt, the lender keeps the security deposit.

Can you get a business credit card with bad personal credit?

Yes, it’s possible, but the lender won’t extend as much credit to you and charges a higher APR than someone with better credit. They may also require a security deposit before they issue the credit card.

Do business credit cards check personal credit scores?

Yes, most lenders check an applicant’s personal credit score and history. In addition, many require a personal guarantee by the applicant and/or all business owners verifying that one or more individuals will pay off the debt if the business doesn’t.

 

Check if you
qualify for a loan

LEARN MORE