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The best secured business credit card can help build or improve your credit, has manageable fees, and provides an easy application process. Those offering rewards on purchases are a plus. To qualify for these cards, you need to make a security deposit, which is usually equal to or higher than your credit limit.
In this guide, we included personal secured credit cards that can also be used for business purposes, as long as you don’t commingle your personal and business finances. We also recommended a few corporate charge/prepaid cards with no personal credit checks as alternatives.
Here are our seven best business secured credit cards:
- Valley Visa® Secured Business Credit Card: Overall best secured business credit card with 0% Annual Percentage Rate (APR) and fixed-rate cash back
- First National Bank of Omaha Business Edition® Secured Mastercard® Credit Card: Best for high credit limit option and interest on security deposits
- Discover it® Secured Card: Best personal credit card for premium gas and dining rewards
- Capital One Quicksilver Secured Cash Rewards Credit Card: Best personal secured credit card with 1.5% cash back
- First Tech Platinum Secured Mastercard®: Best for low ongoing APR and fewer fees
- OpenSky® Secured Visa Credit Card: Best personal credit card with no credit check and no bank account requirement
- First Progress Select Platinum Mastercard® Secured Credit Card: Best personal credit card with rewards for payments
Top three corporate charge or prepaid cards that can be used as alternatives:
- Brex Card: Best for daily or monthly payment options with ongoing rewards
- Ramp Card: Best for large businesses that need higher credit limits
- Mercury IO Mastercard®: Best for no personal credit check and no personal guarantee
Overview of the Best Secured Business Credit Cards 2024
Best For | Security Deposit | Annual Fee | Ongoing Rewards | ||
|---|---|---|---|---|---|
 Valley Visa® Secured Business Credit Card | (Overall best) For 0% APR and fixed-rate cash back | Up to $27,500 (equivalent to 110% of your desired credit limit) | $0 | Unlimited 1% cash back | |
 First National Bank of Omaha Business Edition® Secured Mastercard® Credit Card | High credit limit option | $2,200 to $110,000 (equivalent to 110% of your desired credit limit) | $39 | None | |
 Discover it® Secured Card | Personal credit card for premium gas & dining rewards | $200 to $2,500 | $0 | Up to 2% cash back | |
 card_name | Personal secured credit card with 1.5% cash back | Starts at $200 | $0 | 1.5% cash back | |
 First Tech Platinum Secured Mastercard® | Low ongoing APR and fewer fees | $500 to $25,000 | $0 | 1x point per dollar on all purchases | |
 OpenSky® Secured Visa Credit Card | Personal secured credit card with no credit check and no bank account requirement | $200 to $3,000 | $35 | None | |
 First Progress Select Platinum Mastercard® Secured Credit Card | Personal credit card with rewards for payments | $200 to $2,000 | $39 | 1x point per dollar of payment |
Alternatives to the Business Secured Credit Cards
Best For | Security Deposit | Annual Fee | Ongoing Rewards | ||
|---|---|---|---|---|---|
 Brex Card | Daily or monthly payment options with ongoing rewards | None—load limits vary on your payment option, starts at 30% of your Brex Cash balance | $0 | Up to 7x points | |
 Ramp Card | Large businesses that need higher credit limits | None—but requires at least $25,000 in cash in any US business bank account linked to the Ramp account | $0 | Up to 1.5% cash back | |
 Mercury IO Mastercard® | No personal credit checks and no personal guarantee | None—but requires at least $25,000 in a Mercury account | $0 | 1.5% cash back on all settled transactions |
If you wish to compare one credit card over another, select a maximum of three cards on this page and click Add to Compare to view the details in a side-by-side comparison.
Valley Visa® Secured Business Credit Card: Overall Best Secured Business Credit Card with 0% APR & Fixed-rate Cash Back
Valley Visa® Secured Business Credit Card
BEST FOR:
Those who need a secured business credit card with fixed-rate cash back rewards
Intro APR
0% introductory APR on purchases and balance transfers for first 6 months
Regular APR
15.70% to 27.25%, variable
Annual Fee
$0
Credit Needed
Poor, Limited
- 1% unlimited cash back on all purchases
- 110% percent of your approved credit limit
- $1,000 to $25,000, based on customer request
Pros
- Applicants with poor or limited credit history can still qualify
- Offers 0% APR on both purchases and balance transfers for six billing cycles
- $0 annual fee
- Offers 1% unlimited cash back on all purchases
- Report to major credit bureaus
Cons
- Credit limits are capped to $25,000
- Requires refundable security deposit of 110% credit limit
- Up to 25 free employee cards only
- Charges foreign transaction fee
- Online account access: Manage your account conveniently through online access.
- Fraud protection alerts: Immediate alerts for suspected fraudulent transactions.
- Visa purchase alerts: Receive near real-time notifications via email or text message for transactions made with your enrolled Visa card.
- Report to major credit bureaus: The card reports account information and transactions to major credit bureaus each month, helping users build credit with responsible use.
Intro APR
0% introductory APR on purchases and balance transfers for first 6 months
Regular APR
15.70% to 27.25%, variable
Annual Fee
$0
Credit Needed
Poor, Limited
- 1% unlimited cash back on all purchases
- 110% percent of your approved credit limit
- $1,000 to $25,000, based on customer request
Pros
- Applicants with poor or limited credit history can still qualify
- Offers 0% APR on both purchases and balance transfers for six billing cycles
- $0 annual fee
- Offers 1% unlimited cash back on all purchases
- Report to major credit bureaus
Cons
- Credit limits are capped to $25,000
- Requires refundable security deposit of 110% credit limit
- Up to 25 free employee cards only
- Charges foreign transaction fee
- Online account access: Manage your account conveniently through online access.
- Fraud protection alerts: Immediate alerts for suspected fraudulent transactions.
- Visa purchase alerts: Receive near real-time notifications via email or text message for transactions made with your enrolled Visa card.
- Report to major credit bureaus: The card reports account information and transactions to major credit bureaus each month, helping users build credit with responsible use.
Why We Like It
We selected it as our overall best secured business credit card because it comes with:
- 0% introductory APR offer on both purchases and balance transfer transactions for the first nine billing cycles after opening an account
- 1% cash back on all purchases, regardless of spending categories
- $0 annual and overlimit fees
- Up to 25 employee cards at no additional cost
Other Important Information
- Security Deposit Requirement: 110% of your desired credit limit
- Credit Limit: Up to $25,000
Who Should Consider It
- Those needing to make a large purchase or transfer a balance from another credit card
- Those wanting to earn unlimited cash back without having to track spending categories
It is also one of our top business cards for real estate agents, ideal for those with low credit scores.
First National Bank of Omaha Business Edition® Secured Mastercard® Credit Card: Best for High Credit Limit Option & Interest on Security Deposits
First National Bank of Omaha Business Edition® Secured Mastercard® Card
BEST FOR:
Secured credit lines of as much as $100,000
Intro APR
None
Regular APR
APR: 25.99% variable
Annual Fee
$39
Credit Needed
Very Poor to Good
- While FNBO does not offer any rewards for their new and existing cardholders for this card, you can still earn rewards through Mastercard Easy Savings®, where cardholders are able to save on purchases with automatic rebates from over 40,000 participating merchant locations available.
Pros
- Available for those with very poor to good scores
- Can set credit limits from $2,000 to $100,000
- Offers free management reports
Cons
- With annual fee
- Charges foreign transaction fee
- No introductory and ongoing rewards
- Requires a security deposit of 110% of the credit limit required
- TurboTax discount: Get a discount of up to $20 on TurboTax federal products when using First National Bank of Omaha Business Edition® Secured Mastercard®.
- QuickBooks Online or QuickBooks Self-Employed discount: Receive either a 30% off of a 12-month subscription on QuickBooks Online (Simple Start, Essentials, Plus, or Advanced) or a 30% off of a 12-month subscription on QuickBooks Self-Employed. This is applicable only to new QuickBooks Online customers.
- Free management reports: First National Bank of Omaha provides free management reports to help track expenses, monitor spending, note tax deductions, prepare tax filings, and predict costs easily.
- Zero liability: FNBO guarantees that you won’t be held responsible for any fraudulent charges made with both your card and account information.
Intro APR
None
Regular APR
APR: 25.99% variable
Annual Fee
$39
Credit Needed
Very Poor to Good
- While FNBO does not offer any rewards for their new and existing cardholders for this card, you can still earn rewards through Mastercard Easy Savings®, where cardholders are able to save on purchases with automatic rebates from over 40,000 participating merchant locations available.
Pros
- Available for those with very poor to good scores
- Can set credit limits from $2,000 to $100,000
- Offers free management reports
Cons
- With annual fee
- Charges foreign transaction fee
- No introductory and ongoing rewards
- Requires a security deposit of 110% of the credit limit required
- TurboTax discount: Get a discount of up to $20 on TurboTax federal products when using First National Bank of Omaha Business Edition® Secured Mastercard®.
- QuickBooks Online or QuickBooks Self-Employed discount: Receive either a 30% off of a 12-month subscription on QuickBooks Online (Simple Start, Essentials, Plus, or Advanced) or a 30% off of a 12-month subscription on QuickBooks Self-Employed. This is applicable only to new QuickBooks Online customers.
- Free management reports: First National Bank of Omaha provides free management reports to help track expenses, monitor spending, note tax deductions, prepare tax filings, and predict costs easily.
- Zero liability: FNBO guarantees that you won’t be held responsible for any fraudulent charges made with both your card and account information.
Why We Like It
This business secured credit card offers the highest possible credit limit among all other cards on this list. We recommend it because it offers
- Up to $100,000 credit limit, subject to approval
- Automatic rebates from over 40,000 merchants through Mastercard Easy Savings®
- Interest on the security deposit
- A low annual fee of $39
Other Important Information
- Security Deposit Requirement: 110% of your requested credit limit in multiples of $50; for example, if you want a credit limit of $100,000, you need to make a security deposit of $110,000
- Credit Limit: $2,000 to $100,000, subject to approval
Who Should Consider It
- Businesses needing a high credit limit
- Those who don’t mind not earning rewards on purchases outside the merchants participating in the Mastercard Easy Savings® program
The card is one of our leading high-limit business credit cards because of its high credit limit option. However, it does not come with ongoing rewards on regular purchases, a welcome bonus, or an introductory APR offer.
Discover it® Secured Card: Best Personal Credit Card for Premium Gas & Dining Rewards
Discover it® Secured
BEST FOR:
Business owners who need help rebuilding credit
Intro APR
N/A
Regular APR
27.74% variable
Annual Fee
$0
Credit Needed
N/A
- Earn cash back and build your credit with responsible use.
- It's a real credit card. You can build a credit history with the three major credit bureaus: Equifax, Experian, and TransUnion.
- Establish your credit line by providing a refundable security deposit from $200 to $2,500 after being approved. Bank information must be provided when submitting your deposit.
- Automatic reviews starting at eight months to see if we can transition you to an unsecured line of credit and return your deposit.
- 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. In addition, earn an unlimited 1% cash back on all your other purchases―automatically
- Get 100% US-based customer service & get your free Credit Scorecard with your FICO® Credit Score
- We match all the cash back you've earned at the end of your first year automatically.
- Receive Free Social Security number alerts—Discover will monitor thousands of risky websites when you sign up.
Pros
- With cash back rewards for new and existing cardholders
- Lets you enjoy $0 annual fees
- Offers automatic monthly account review
Cons
- No 0% annual percentage rate (APR) period on purchases and balance transfers
- High ongoing APR
- Updated FICO credit scores: You can get FICO® credit score, key factors, and other credit information on Discover.com and your statement.
- Data privacy: Remove personal information from selected people-search sites that may sell your data.
- Freeze it®: Freeze your account within seconds in the event you have misplaced your physical card
Intro APR
N/A
Regular APR
27.74% variable
Annual Fee
$0
Credit Needed
N/A
- Earn cash back and build your credit with responsible use.
- It's a real credit card. You can build a credit history with the three major credit bureaus: Equifax, Experian, and TransUnion.
- Establish your credit line by providing a refundable security deposit from $200 to $2,500 after being approved. Bank information must be provided when submitting your deposit.
- Automatic reviews starting at eight months to see if we can transition you to an unsecured line of credit and return your deposit.
- 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. In addition, earn an unlimited 1% cash back on all your other purchases―automatically
- Get 100% US-based customer service & get your free Credit Scorecard with your FICO® Credit Score
- We match all the cash back you've earned at the end of your first year automatically.
- Receive Free Social Security number alerts—Discover will monitor thousands of risky websites when you sign up.
Pros
- With cash back rewards for new and existing cardholders
- Lets you enjoy $0 annual fees
- Offers automatic monthly account review
Cons
- No 0% annual percentage rate (APR) period on purchases and balance transfers
- High ongoing APR
- Updated FICO credit scores: You can get FICO® credit score, key factors, and other credit information on Discover.com and your statement.
- Data privacy: Remove personal information from selected people-search sites that may sell your data.
- Freeze it®: Freeze your account within seconds in the event you have misplaced your physical card
Why We Like It
This is a personal credit card that’s best for those with frequent gas and dining expenses. It offers cardholders the following:
- 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, and 1% cash back when the cap is met and on all other qualifying purchases
- Automatic dollar-for-dollar match of all the cash back you earn at the end of your first year without caps or limits
- $0 annual fee
- Special balance transfer rate of 10.99% for 6 months from date of first transfer
Other Important Information
- Security Deposit Requirement: $200 to $2,500, in increments of $100
- Credit Limit: Equivalent to your security deposit amount
Who Should Consider It
- Businesses that don’t need a credit limit of more than $2,500
- Those that frequently spend on gas and dining—but expenses on these categories don’t exceed $1,000 per quarter
Starting on the seventh month of your account membership, Discover will review your account monthly. If you have made on-time payments for the past six billing cycles (including other loans), the issuer will refund your security deposit and you may qualify for an unsecured credit card.
Capital One Quicksilver Secured Cash Rewards Credit Card: Best Personal Secured Credit Card with 1.5% Cash Back
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Intro APR
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Regular APR
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Annual Fee
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Credit Needed
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- No annual or hidden fees, and you can earn unlimited 1.5% cash back on every purchase, every day. See if you're approved in seconds
- Put down a refundable $200 security deposit to get a $200 initial credit line
- Building your credit? Using a card like this responsibly could help
- Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
- You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
- Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
- Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
- Monitor your credit score with CreditWise from Capital One. It's free for everyone
- Capital One Quicksilver Student Cash Rewards Credit Card
Pros
- Unlimited rewards
- $0 annual fee
- Security deposit as low as $200
Cons
- No welcome offer
- High ongoing APR
- Fair credit score required
- $0 fraud liability
- Automatic credit line reviews after 6 months
- Can upgrade to unsecured credit card with responsible use
Intro APR
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Regular APR
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Annual Fee
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Credit Needed
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- No annual or hidden fees, and you can earn unlimited 1.5% cash back on every purchase, every day. See if you're approved in seconds
- Put down a refundable $200 security deposit to get a $200 initial credit line
- Building your credit? Using a card like this responsibly could help
- Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
- You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
- Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
- Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
- Monitor your credit score with CreditWise from Capital One. It's free for everyone
- Capital One Quicksilver Student Cash Rewards Credit Card
Pros
- Unlimited rewards
- $0 annual fee
- Security deposit as low as $200
Cons
- No welcome offer
- High ongoing APR
- Fair credit score required
- $0 fraud liability
- Automatic credit line reviews after 6 months
- Can upgrade to unsecured credit card with responsible use
Why We Like It
This personal secured credit card provides a straightforward rewards program and several ways to save on fees. We like it because it offers
- 1.5% cash back on all purchases without the need to monitor expense categories
- $0 annual, foreign transaction, authorized users, and replacement card fees
- Automatic review for a higher credit line after six months with no additional deposit
Other Important Information
- Security Deposit: Minimum of $200
- Credit Limit: At least $200 You can be automatically considered for a higher credit limit within six months with no additional security deposit (will depend on your security deposit)
Who Should Consider It
- Those with at least a fair credit score (ranging from 580 to 669)
- Businesses that can pay the entire balance each month to avoid getting charged with a high APR
Note that the card comes with a high ongoing APR and requires a fair credit score to qualify. However, with responsible card use, the issuer may refund your security deposit, and you could upgrade to an unsecured Capital One credit card.
First Tech Platinum Secured Mastercard®: Best for Low Ongoing APR & Fewer Fees
First Tech Platinum Secured Mastercard®
BEST FOR:
Members of First Tech FCU who want to build their credit
Intro APR
N/A
Regular APR
14.25% to 18% variable
Annual Fee
$0
Credit Needed
Bad, limited
- Earn 1 point per $1 spent on eligible purchases
- Minimum $500, which determines your credit limit (up to $25,000)
- No fees for foreign transactions, cash advances, or balance transfers
- Reports to major credit bureaus
Pros
- Has low starting APR
- Enjoy $0 annual, foreign transaction, balance transfer, and cash advance fees
- Lets you earn rewards on purchases
Cons
- Has no welcome offer
- Does not offer a 0% introductory period
- You need to become a First Tech member to open an account
- Purchase assurance: When an item you bought with your covered card is damaged or stolen within 90 days of purchase, you may be eligible for benefits under this coverage
- Mastercard Global Service™: Provides worldwide, 24-hour assistance with Lost and Stolen Card Reporting, Emergency Card Replacement, and Emergency Cash Advance
- Mastercard ID Theft Protection™: This is a theft resolution service in case you become a victim of identity theft
- Ongoing rewards: Earn unlimited 1x points per dollar spent on purchases and redeem your rewards for travel, merchandise, gift cards, and more—plus, your rewards don’t expire
Intro APR
N/A
Regular APR
14.25% to 18% variable
Annual Fee
$0
Credit Needed
Bad, limited
- Earn 1 point per $1 spent on eligible purchases
- Minimum $500, which determines your credit limit (up to $25,000)
- No fees for foreign transactions, cash advances, or balance transfers
- Reports to major credit bureaus
Pros
- Has low starting APR
- Enjoy $0 annual, foreign transaction, balance transfer, and cash advance fees
- Lets you earn rewards on purchases
Cons
- Has no welcome offer
- Does not offer a 0% introductory period
- You need to become a First Tech member to open an account
- Purchase assurance: When an item you bought with your covered card is damaged or stolen within 90 days of purchase, you may be eligible for benefits under this coverage
- Mastercard Global Service™: Provides worldwide, 24-hour assistance with Lost and Stolen Card Reporting, Emergency Card Replacement, and Emergency Cash Advance
- Mastercard ID Theft Protection™: This is a theft resolution service in case you become a victim of identity theft
- Ongoing rewards: Earn unlimited 1x points per dollar spent on purchases and redeem your rewards for travel, merchandise, gift cards, and more—plus, your rewards don’t expire
Why We Like It
This is another personal secured credit card that offers several opportunities to save on credit costs. It comes with:
- $0 annual, balance transfer, cash advance, or foreign transaction fees
- 1x point per dollar spent on all purchases, which you can use for travel, merchandise, gift cards, and more
- The lowest ongoing APR among all other cards on this list
Other Important Information
- Security Deposit: Ranges from $500 to $25,000
- Credit Limit: Equal to your security deposit
Who Should Consider It
- Those who may need to carry a balance to the next billing cycle from time to time
- Those wanting to earn points rewards instead of cash back (this is because most other secured credit cards that offer rewards in this guide let you earn cash back)
Note that you need to become a First Tech member to apply for the card. To become a member, you need to meet any of the following requirements:
- You have a family or household member who is already a First Tech member
- You or a family member work for an innovative company on First Tech’s partner list or for the State of Oregon
- You work or live in Lane County, Oregon
- You belong to the Computer History Museum or the Financial Fitness Association
Call 855-855-8805 if you don’t meet any of the criteria above and a representative from First Tech will help you navigate your options.
OpenSky® Secured Visa Credit Card: Best Personal Credit Card for No Credit Check & No Bank Account Requirement
OpenSky® Secured Visa® Credit Card
BEST FOR:
Business owners with a credit score below 580
Intro APR
N/A
Regular APR
25.64% variable
Annual Fee
$35
Credit Needed
Poor to Average
- New Feature! Earn up to 10% cash back* on everyday purchases at over 40,000 participating merchants.
- No credit check needed to apply—OpenSky® won’t pull your credit so there’s no impact on your credit score.
- No bank account required—OpenSky® won’t require you to have an existing or new traditional bank account with Capital Bank.
- Reports your payment and usage behavior to all three major credit bureaus (Equifax®, Experian®, and TransUnion®), helping you build or rebuild credit.
Pros
- No credit check to apply
- No bank account needed
- Report to all 3 major credit bureaus
- Low APR
Cons
- Requires a security deposit
- No 0% introductory APR
- Annual fee applies
- Flexible deposit funding: Use a debit card, wire transfer, check, or money order to fund your security deposit, starting from $200 up to $3,000.
- Pay security deposit in installments: Pay your OpenSky® Secured Visa® deposit in installments, but complete it within 60 days to avoid reapplying (terms apply).
- Free online access to FICO® score: You can monitor your credit health by accessing your FICO® score online for free.
Intro APR
N/A
Regular APR
25.64% variable
Annual Fee
$35
Credit Needed
Poor to Average
- New Feature! Earn up to 10% cash back* on everyday purchases at over 40,000 participating merchants.
- No credit check needed to apply—OpenSky® won’t pull your credit so there’s no impact on your credit score.
- No bank account required—OpenSky® won’t require you to have an existing or new traditional bank account with Capital Bank.
- Reports your payment and usage behavior to all three major credit bureaus (Equifax®, Experian®, and TransUnion®), helping you build or rebuild credit.
Pros
- No credit check to apply
- No bank account needed
- Report to all 3 major credit bureaus
- Low APR
Cons
- Requires a security deposit
- No 0% introductory APR
- Annual fee applies
- Flexible deposit funding: Use a debit card, wire transfer, check, or money order to fund your security deposit, starting from $200 up to $3,000.
- Pay security deposit in installments: Pay your OpenSky® Secured Visa® deposit in installments, but complete it within 60 days to avoid reapplying (terms apply).
- Free online access to FICO® score: You can monitor your credit health by accessing your FICO® score online for free.
Why We Like It
This is another personal credit card that you can use for business purposes. Two things make this card unique:
- A personal credit check is not required during the application process, meaning you can qualify no matter how low your credit score is.
- OpenSky® doesn’t require a bank account to be eligible—you can use a money order for your security deposit.
Other Important Information
- Security Deposit: $200 to $3,000
- Credit Limit: Equivalent to your security deposit
Who Should Consider It
- Those who don’t want the card application process to affect their credit (because the card does not perform a credit check)
- Those who don’t mind not earning rewards on purchases and won’t need to use balance transfer services
- Those without an existing bank account or could not qualify for one
With good payment habits, you can qualify for credit line increases every six months.
First Progress Select Platinum Mastercard® Secured Credit Card: Best Personal Credit Card With Rewards for Payments
First Progress Select Platinum Mastercard® Secured Credit Card
Intro APR
N/A
Regular APR
19.24% variable
Annual Fee
$39
Credit Needed
Bad, limited
- 1% cash back on payments made to your credit card account
Pros
- Helps build your credit score—reports to all three credit bureaus
- Free online reporting with Spend Analysis
Cons
- No welcome offer
- No ongoing rewards
- Branches are limited to selected states only (Texas, Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico)
- Reports to all three major credit bureaus
- Pay six months on time and apply to get a second credit card
- Easy, free access to credit education in the First Progress Card Mobile App
- Enrolled automatically in First Progress Rewards upon approval
- Expedited processing service option
Intro APR
N/A
Regular APR
19.24% variable
Annual Fee
$39
Credit Needed
Bad, limited
- 1% cash back on payments made to your credit card account
Pros
- Helps build your credit score—reports to all three credit bureaus
- Free online reporting with Spend Analysis
Cons
- No welcome offer
- No ongoing rewards
- Branches are limited to selected states only (Texas, Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico)
- Reports to all three major credit bureaus
- Pay six months on time and apply to get a second credit card
- Easy, free access to credit education in the First Progress Card Mobile App
- Enrolled automatically in First Progress Rewards upon approval
- Expedited processing service option
Why We Like It
Credit cards either reward you for your purchases or don’t offer rewards at all—but this personal secured credit card rewards you every time you make payments on your card. We like the card because it enables you to:
- Receive 1x point per dollar of payment made to your account, which is equivalent to 1% cash back in First Progress Rewards
- Get your transactions reported to all three major credit bureaus (Equifax, Experian, and TransUnion) to help build or improve credit
- Get a second credit card when you make on-time payments for six consecutive months
Other Important Information
- Security Deposit: $200 to $2,000
- Credit Limit: Equivalent to your security deposit
Who Should Consider It
- Businesses needing motivation to make on-time payments
- Those wanting to access their credit score easily—you can see your VantageScore® and access Credit Education in the First Progress Card Mobile App
How We Selected the Best Secured Business Credit Cards
We considered secured business credit cards that come with reasonable fees. We took into account the ease of the application process, introductory and ongoing rewards, and whether or not the issuer will report transactions to the major credit bureaus. Since there are only a few business secured credit cards available, we included some personal secured credit cards with unique features that may be useful to business owners.
Recommended Alternatives to Secured Business Credit Cards
Brex Card: Best for Daily or Monthly Payment Options with Ongoing Rewards
 Brex CardBEST FOR: Those who want daily or monthly payments | |
|---|---|
Spending Limit | Load Limit |
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|
Costs | |
| |
Why we recommend it: Brex Card can be used as a charge card or a prepaid card—you have the option to pay your balance in full each month or have your purchases directly deducted from your Brex Business Account balance. The card offers rewards that vary, depending on your chosen payment option and these three rewards variations:
Variations of the Brex Exclusive Program | Specific Rewards |
|---|---|
Brex Exclusive Life Science Rewards |
|
Brex Exclusive Daily Payments Rewards | Advertising
Software
Life sciences
|
Brex Exclusive Custom Rewards | This is for companies that have more than 50 Brex users and that can meet minimum spending commitments. Contact any Brex Sales Representative to learn more about it. |
Other Important Information:
- Security Deposit: None, but you need to open a Brex Business Account if you choose to pay daily or link another bank account if you choose to pay monthly.
- Credit Limit:
- Credit limit for monthly payment option: 5% to 20% of your aggregate bank balance plus 30% of your Brex Cash balance.
- Load limit for daily payment option: 100% of your Brex Cash account balance—however, your balance on your connected bank accounts won’t be considered.
Consider Brex Card if:
- Your business is related to life sciences and technology (so you can take advantage of its high rewards rate on these categories).
- You need to build your business credit as Brex reports your payment history to business credit bureaus.
Note that it doesn’t charge annual or monthly fees. Also, you can get exclusive discounts on Brex partners, such as Amazon, Apple, QuickBooks, Freshworks, Slack, and Experian. It is one of our top-recommended purchasing cards because of its flexible payment options and lucrative rewards. To learn more, read our in-depth Brex Card review.
Ramp Card: Best for Large Businesses that Need Higher Credit Limits
Ramp Credit Card
BEST FOR:
Those who are using Ramp as their main financial management tool
Intro APR
None
Regular APR
None
Annual Fee
$0
Credit Needed
Poor to Excellent
- Up to 1.5% cash back on purchases, regardless of spending categories
Pros
- Offers rewards for cardholders
- Does not charge additional fees
- Offers direct integrations to notable accounting tasks
Cons
- Requires paying balances in full each month
- Is unavailable to sole proprietors and unincorporated businesses
- Travel and emergency assistance services: Call the Benefit Administrator at (800) 397-9010 if you are in the United States or (303) 967-1093 if you are outside of the US if you need emergency assistance.
- Purchase security: Receive a maximum of $10,000 per claim and $50,000 per cardholder in cases of theft or damage to purchases made with your card.
- Auto rental collision damage waiver: When using this card for renting a car, you can be reimbursed for damages caused by theft or collision up to the Actual Cash Value of most rented cars. Note that rental periods of 31 consecutive days are covered.
- Extended warranty protection: Extend warranties for eligible purchases made with your covered account and/or rewards programs associated with your account.
Intro APR
None
Regular APR
None
Annual Fee
$0
Credit Needed
Poor to Excellent
- Up to 1.5% cash back on purchases, regardless of spending categories
Pros
- Offers rewards for cardholders
- Does not charge additional fees
- Offers direct integrations to notable accounting tasks
Cons
- Requires paying balances in full each month
- Is unavailable to sole proprietors and unincorporated businesses
- Travel and emergency assistance services: Call the Benefit Administrator at (800) 397-9010 if you are in the United States or (303) 967-1093 if you are outside of the US if you need emergency assistance.
- Purchase security: Receive a maximum of $10,000 per claim and $50,000 per cardholder in cases of theft or damage to purchases made with your card.
- Auto rental collision damage waiver: When using this card for renting a car, you can be reimbursed for damages caused by theft or collision up to the Actual Cash Value of most rented cars. Note that rental periods of 31 consecutive days are covered.
- Extended warranty protection: Extend warranties for eligible purchases made with your covered account and/or rewards programs associated with your account.
Why we recommend it: Ramp Card is a corporate charge card that offers up to 1.5% cash back on all purchases. It doesn’t charge user, annual, late payments, and additional card/card replacement fees. It also comes with a robust expense management system that allows you to monitor and control employee spending seamlessly.
Other Important Information:
- Security Deposit: None, but your company must have a minimum of $50,000 in cash in any U.S. business bank account linked to Ramp card.
- Credit Limit: Up to 20x higher credit limits than traditional options.
Consider Ramp Card if your company:
- Can deposit at least $50,000 in your business bank account
- Prefer to use Ramp as your primary financial management tool
It is our best corporate card because of its straightforward rewards program and robust financial system. However, since it is a charge card, you need to pay your balance in full each month.
Mercury IO Mastercard®: Best for No Personal Credit Check & No Personal Guarantee
Mercury IO Mastercard®
Intro APR
N/A
Regular APR
N/A (Pay-in-full card)
Annual Fee
$0
Credit Needed
No personal credit check required
- 1.5% cash back on all settled transactions
Pros
- No personal guarantee required
- Unlimited rewards on paid transactions
- Helps build business credit
Cons
- No introductory rewards/welcome offer
- $25,000 is required in a Mercury account
- Doesn’t support cash deposits
- No personal credit check needed
- 1.5% cashback for all settled transactions
- Free employee cards
Intro APR
N/A
Regular APR
N/A (Pay-in-full card)
Annual Fee
$0
Credit Needed
No personal credit check required
- 1.5% cash back on all settled transactions
Pros
- No personal guarantee required
- Unlimited rewards on paid transactions
- Helps build business credit
Cons
- No introductory rewards/welcome offer
- $25,000 is required in a Mercury account
- Doesn’t support cash deposits
- No personal credit check needed
- 1.5% cashback for all settled transactions
- Free employee cards
Why we recommend it: This business charge card offers 1.5% cash back on all settled transactions. It doesn’t check your personal credit as part of the application process, and you won’t be required to provide a personal guarantee. This is a great way to keep your personal and business finances separate.
Other Important Information:
- Security Deposit: None, but you must open a Mercury account and maintain at least a $25,000 balance—this is not a security deposit and doesn’t act as collateral
- Credit Limit: Will be based on your account balance
Consider Mercury IO Mastercard® if your company:
- Has sufficient cash on hand and can maintain at least $25,000 in a Mercury account
- Doesn’t need to deal with cash frequently and an online-only bank is convenient for you
Mercury is a business financial technology (fintech) platform backed by FDIC-insured Evolve Bank & Trust and Choice Financial Group. Note that it is an online-only bank, which means it doesn’t have brick-and-mortar branches. For more information, read our article about online banking.
Frequently Asked Questions (FAQs)
A secured credit card is a type of credit card that requires a collateral account (checking or savings account) where you should keep your security deposit. The amount of the required deposit is usually equal to your credit limit. For example, if your collateral account contains $500, then your credit line is also $500. Some secured credit cards require a security deposit that’s higher than the credit limit. Note that security deposits are refundable, which means you’ll get them back once you fully pay your account balance and decide to discontinue using the card.
When used responsibly, a secured business credit card can help you build or improve your credit score as your transactions are reported to major credit bureaus. However, if you fail to make on-time payments, it can also adversely affect your credit, making it more difficult for you to qualify for other business financing options in the future.
Secured business credit cards work like regular credit cards—you can use them to make purchases both in-store and online. When the bill is due each month, you’ll be responsible for making a payment on time. Your security deposit guarantees your credit line—it means that if you fail to pay your debt, the card issuer may debit your deposit account to cover your balance.
To choose the best secured business credit card, you need to consider your business’s unique needs and preferences. While some cards offer high credit limit options, not all let you earn rewards. Decide which benefits and features work best for you. On top of that, choose a card where you can save on costs.
Aside from what was already mentioned, another alternative to a secured business credit card is a business prepaid card, which needs to be funded so that you can use it for your business purchases. It does not require a personal credit check and a personal guarantee, though using prepaid cards will not affect your credit as your transactions are not reported to the credit bureaus. The difference between a prepaid card and a secured business card is that your expenses will be directly deducted from your load balance every time you use the prepaid card, meaning your business does not incur debt.
Bottom Line
All of these secured business credit cards (as well as the prepaid card alternatives) offer an easy approval process. If you’re unsure which one to select, consider the unique features that each card offers and identify which are important to you, such as a rewards program, high credit limit, or application without a credit check.
Fit Small Business has partnered with CardRatings for our coverage of credit card products. Fit Small Business and CardRatings may receive a commission from card issuers.
