9 Best Sole Proprietorship Business Credit Cards of 2022
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Benilyn has over a decade of experience as a banking officer. Her expertise is featured throughout Fit Small Business in personal finance, credit card, and real estate investing content.
This article is part of a larger series on Best Small Business Credit Cards.
Editor’s note: This is a recurring post with regularly updated card details.
The best sole proprietorship business credit card is the one that allows you to earn rewards on your purchases. Sole proprietors can also benefit from sign-up bonuses, business credit cards that can help you build your business credit, no or low annual fee, low ongoing annual percentage rate (APR), and a 0% introductory APR to finance a large purchase or balance transfer interest-free.
We have selected the best sole proprietor business credit cards:
- Chase Ink Business Unlimited®: Best overall business credit card for sole proprietors
- Chase Ink Business Cash®: Best for office-based sole proprietors
- Capital One Spark Miles Select for Business: Best for earning travel rewards
- American Express® Blue Business® Plus: Best for everyday sole proprietor expenses
- Wells Fargo Business Platinum Credit Card: Best for flexible rewards
- Amazon Business Prime American Express Card: Best for recurring Amazon purchases
- U.S. Bank Business Platinum Card: Best for long 0% APR period
- Capital One® Spark® Classic for Business: Best for sole proprietors with fair credit
- Wells Fargo Business Secured Credit Card: Best for sole proprietors with bad credit
To see how these cards stack up against others we have reviewed on our site, click Add to Compare on a card below and select up to two additional cards for comparison.
Chase Ink Business Unlimited®: Best Overall Business Credit Card for Sole Proprietors
Ink Business Unlimited® Credit Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Pocketing 1.5% cash back on every single purchase
Intro APR
0% Intro APR on Purchases
Regular APR
13.49% - 19.49% Variable
Annual Fee
$0
Credit Needed
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
Pros
- 0% introductory APR on purchases
- Unlimited cash back rewards on all purchases
Cons
- Introductory APR period doesn’t apply to balance transfers
- 5% balance transfer fee
- Charges foreign transaction fees
- Requires excellent credit to qualify
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes; it provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the US and abroad
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of three years or less
Intro APR
0% Intro APR on Purchases
Regular APR
13.49% - 19.49% Variable
Annual Fee
$0
Credit Needed
Good, Excellent
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
Pros
- 0% introductory APR on purchases
- Unlimited cash back rewards on all purchases
Cons
- Introductory APR period doesn’t apply to balance transfers
- 5% balance transfer fee
- Charges foreign transaction fees
- Requires excellent credit to qualify
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes; it provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the US and abroad
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of three years or less
Why we like it: The Chase Ink Business Unlimited® card is our choice for the overall best sole proprietorship business credit card because of its fixed-rate 1.5% cash back on every purchase with no annual fee. You can also take advantage of the 0% intro APR on purchases for the first 12 months if you plan to make a significant purchase. In addition, you’ll receive a $750 cash back when you spend at least $7,500 in the first three months of card membership.
The Chase Ink Business Unlimited® card also comes with no annual fee and a low ongoing APR starting at 13.49%. This card is straightforward and uncomplicated, making it an excellent choice for sole proprietors with varied expenses. It’s also named one of the best credit cards for startup businesses because of its easy rewards program and low fees.
Chase Ink Business Cash®: Best for Office-based Sole Proprietors
Ink Business Cash® Credit Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Office-based businesses that want top cash back rewards
Intro APR
0% Intro APR on Purchases
Regular APR
13.49% - 19.49% Variable
Annual Fee
$0
Credit Needed
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- 0% introductory APR for 12 months on purchases
Pros
- Top rewards for office supply spending
- Introductory APR on purchases
- Cash sign-up bonus
Cons
- 0% APR doesn’t apply to balance transfers
- High balance transfer fee of 5%
- Designed mainly for office-oriented companies
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes. It provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the United States and abroad.
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year.
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of 3 years or less.
Intro APR
0% Intro APR on Purchases
Regular APR
13.49% - 19.49% Variable
Annual Fee
$0
Credit Needed
Good, Excellent
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- 0% introductory APR for 12 months on purchases
Pros
- Top rewards for office supply spending
- Introductory APR on purchases
- Cash sign-up bonus
Cons
- 0% APR doesn’t apply to balance transfers
- High balance transfer fee of 5%
- Designed mainly for office-oriented companies
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes. It provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the United States and abroad.
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year.
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of 3 years or less.
Why we like it: If your home office expenses include internet, phone, and office supplies, you’ll get an impressive 5% cash back on these purchases with the Chase Ink Business Cash® card, up to $25,000. You’ll also get 2% cash back on the first $25,000 spent at gas stations and restaurants and 1% cash back on all other purchases. Similar to the Chase Ink Business Unlimited® card, this card offers a $750 cash back bonus after spending $7,500 in the first three months.
The Chase Ink Business Cash® card has no annual fee and a low ongoing APR starting at 13.49%. If you plan to make a large purchase, you’ll enjoy zero-interest financing for the first 12 months. This card is one of our best fuel cards for small businesses because of its generous cash back rewards spent at gas stations.
Capital One® Spark® Miles Select for Business: Best for Earning Travel Rewards
Capital One® Spark® Miles Select for Business
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Travel rewards and annual spending less than $19,000
Intro APR
0% on purchases
Regular APR
14.24% - 24.24% (Variable)
Annual Fee
$0
Credit Needed
Excellent, Good
- Introductory reward worth $200 in travel after you spend $3,000 within the first three months
- 1.5x miles per $1 spent
- 5x miles on hotel and rental car bookings through the issuer
- Issue employee cards for free
Pros
- No foreign transaction fees
- Interest-free financing on purchases
Cons
- No 0% APR balance transfer offer
- Limited list of airline partners
- Purchase assurance: Most purchases made entirely with your card are covered if damaged or stolen within 90 days from the date of purchase. Coverage is limited to $10,000 per claim and $50,000 per cardholder account per 12 month period.
- Extended warranty coverage: Doubles the original warranty time period and duplicates the coverage of the original manufacturer’s warranty up to a maximum of 12 months on most items you purchase.
- Travel medical emergency assitance: Provide referrals to medical services if you have a medical emergency while traveling. You’re covered if you’re 100 or more miles away from home and from the day you leave until midnight of the 60th day of your trip, or the day you return to your city of residence, whichever is sooner.
Intro APR
0% on purchases
Regular APR
14.24% - 24.24% (Variable)
Annual Fee
$0
Credit Needed
Excellent, Good
- Introductory reward worth $200 in travel after you spend $3,000 within the first three months
- 1.5x miles per $1 spent
- 5x miles on hotel and rental car bookings through the issuer
- Issue employee cards for free
Pros
- No foreign transaction fees
- Interest-free financing on purchases
Cons
- No 0% APR balance transfer offer
- Limited list of airline partners
- Purchase assurance: Most purchases made entirely with your card are covered if damaged or stolen within 90 days from the date of purchase. Coverage is limited to $10,000 per claim and $50,000 per cardholder account per 12 month period.
- Extended warranty coverage: Doubles the original warranty time period and duplicates the coverage of the original manufacturer’s warranty up to a maximum of 12 months on most items you purchase.
- Travel medical emergency assitance: Provide referrals to medical services if you have a medical emergency while traveling. You’re covered if you’re 100 or more miles away from home and from the day you leave until midnight of the 60th day of your trip, or the day you return to your city of residence, whichever is sooner.
Why we like it: The Capital One® Spark® Miles Select for Business is best for sole proprietors who travel frequently. You can earn unlimited 1.5 miles on all business-related purchases. You can redeem miles to book flights, rent cars, and pay for hotel stays. You can also use your rewards for past travel purchases within 90 days of the date of the travel purchase. Moreover, Capital One allows you to transfer your miles to any of its travel partners.
The Capital One® Spark® Miles Select for Business card also offers other travel features such as roadside assistance services and zero foreign transaction fees on purchases made outside of the United States. It’s one of our top-recommended choices for the best business credit cards with no foreign transaction fee.
American Express® Blue Business® Plus: Best for Everyday Sole Proprietor Expenses
The Blue Business® Plus Credit Card from American Express
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Pocketing 2x points per $1 and 0% introductory APR for 12 months
Intro APR
0% on purchases
Regular APR
13.99% - 21.99% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn 15,000 Membership Rewards® points after you spend $3,000 in eligible purchases on the Card within your first 3 months of Card Membership.
- Earn 2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter.
- You’ve got the power to use your Card beyond its credit limit* with Expanded Buying Power.
- *The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to American Express, and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 13.99% - 21.99%, based on your creditworthiness and other factors at account opening.
- No Annual Fee
- Terms Apply
Pros
- No annual fee
- 0% APR for 12 months on purchases and balance transfer
- Welcome offer bonus points
- Expanded buying power
- Fixed-rate rewards
Cons
- Cash advances aren’t allowed
- Charges foreign transaction fees
- 2x points rewards are capped at $50,000 in spending
- Extended warranty protection: American Express will match the length of the original manufacturer’s warranty if it’s less than two years. It provides an additional two years if the original manufacturer’s warranty is between two and five years. Coverage is limited to $10,000 per occurrence and $50,000 per account each year.
- Purchase protection: The issuer will repair, replace, or reimburse you for an item purchased with the card that was damaged or stolen within 120 days of purchase. Coverage is limited to $1,000 per occurrence and $50,000 per account each year.
Intro APR
0% on purchases
Regular APR
13.99% - 21.99% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn 15,000 Membership Rewards® points after you spend $3,000 in eligible purchases on the Card within your first 3 months of Card Membership.
- Earn 2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter.
- You’ve got the power to use your Card beyond its credit limit* with Expanded Buying Power.
- *The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to American Express, and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 13.99% - 21.99%, based on your creditworthiness and other factors at account opening.
- No Annual Fee
- Terms Apply
Pros
- No annual fee
- 0% APR for 12 months on purchases and balance transfer
- Welcome offer bonus points
- Expanded buying power
- Fixed-rate rewards
Cons
- Cash advances aren’t allowed
- Charges foreign transaction fees
- 2x points rewards are capped at $50,000 in spending
- Extended warranty protection: American Express will match the length of the original manufacturer’s warranty if it’s less than two years. It provides an additional two years if the original manufacturer’s warranty is between two and five years. Coverage is limited to $10,000 per occurrence and $50,000 per account each year.
- Purchase protection: The issuer will repair, replace, or reimburse you for an item purchased with the card that was damaged or stolen within 120 days of purchase. Coverage is limited to $1,000 per occurrence and $50,000 per account each year.
Why we like it: When your expenditures are low and you won’t be spending more than $50,000 in a single calendar year, you can earn 2x points on all eligible purchases with the American Express® Blue Business® Plus. After that, you’ll earn 1x point on all purchases. This card has no annual fee and it features expanded buying power which lets you spend beyond your credit limit.
Enjoy a 0% APR for the first 12 months and earn 15,000 Membership Rewards® points after spending $3,000 in eligible purchases within the first three months of card ownership. This card is also one of our top picks for the best small business credit cards.
Wells Fargo Business Platinum Credit Card: Best for Flexible Rewards
Wells Fargo Business Platinum Credit Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Choosing cash back or points rewards with no annual fee
Intro APR
0%
Regular APR
12.74% - 22.74% Variable
Annual Fee
$0
Credit Needed
Excellent
- Get a one-time $300 cash back bonus or 30,000 bonus points when you enroll in the Business Card Rewards Program and spend $3,000 in the first three months of account open date
- Earn 1.5% cash back on every $1 spent
- Earn 1 point on every $1 spent and receive 1,000 bonus points when your company spend is $1,000 or more in any monthly billing period
- No annual card fee, plus up to 99 employee cards (no additional fee)
- Cash management tools
- Spending reports available online
- Online banking and bill payment options
Pros
- Excellent introductory bonus offer
- No-interest financing period
- Ongoing bonus rewards for meeting monthly spending requirements
- Register employee cards with no additional fees
Cons
- Low ongoing rewards
- Airline ticket redemption fees
- Points have an expiration
- Purchase security: Wells Fargo offers coverage for purchased items that have been damaged or stolen within 90 days of purchase. They may repair, replace, or reimburse you for the items. Coverage is limited to $10,000 per item and up to $50,000 per year.
- Wells Fargo design studio: Wells Fargo allows you to design your card by uploading an image that represents your company. For example, the image could be your business logo or storefront.
Intro APR
0%
Regular APR
12.74% - 22.74% Variable
Annual Fee
$0
Credit Needed
Excellent
- Get a one-time $300 cash back bonus or 30,000 bonus points when you enroll in the Business Card Rewards Program and spend $3,000 in the first three months of account open date
- Earn 1.5% cash back on every $1 spent
- Earn 1 point on every $1 spent and receive 1,000 bonus points when your company spend is $1,000 or more in any monthly billing period
- No annual card fee, plus up to 99 employee cards (no additional fee)
- Cash management tools
- Spending reports available online
- Online banking and bill payment options
Pros
- Excellent introductory bonus offer
- No-interest financing period
- Ongoing bonus rewards for meeting monthly spending requirements
- Register employee cards with no additional fees
Cons
- Low ongoing rewards
- Airline ticket redemption fees
- Points have an expiration
- Purchase security: Wells Fargo offers coverage for purchased items that have been damaged or stolen within 90 days of purchase. They may repair, replace, or reimburse you for the items. Coverage is limited to $10,000 per item and up to $50,000 per year.
- Wells Fargo design studio: Wells Fargo allows you to design your card by uploading an image that represents your company. For example, the image could be your business logo or storefront.
Why we like it: The Wells Fargo Business Platinum Credit Card allows you to choose your preferred rewards program. You get to choose from earning 1.5% cash back or 1x point for every dollar spent on all purchases, regardless of spending categories. It offers $300 cash back or 30,000 bonus points when you spend at least $3,000 in qualifying purchases in the first three months.
You’ll also receive 1,000 bonus points when you spend $1,000 or more in any monthly billing period. If you opt for cash back and spend $1,000 per month, you’ll earn $180 in cash back rewards at the end of 12 months. There’s no annual fee, and you get to enjoy a 0% introductory rate for nine months on both purchases and balance transfers. This card made it to our list of the best credit cards for self-employed because of its rewards flexibility.
Amazon Business Prime American Express Card: Best for Recurring Amazon Purchases
Amazon Business Prime American Express Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
5% back or 90-day repayment terms
Intro APR
N/A
Regular APR
14.99% - 22.99% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Eligible Prime Members get a $125 Amazon Gift Card upon approval for the Amazon Business Prime American Express Card.
- Take advantage of 5% Back or 90 Day Terms on U.S. purchases at Amazon.com, Amazon Business, AWS and Whole Foods Market with an eligible Prime membership. You will earn 5% Back on the first $120,000 in purchases each calendar year, 1% Back thereafter
- 2% Back at U.S. restaurants, U.S. gas stations, and on wireless telephone services purchased directly from U.S. service providers
- 1% Back on other purchases
- $0 Annual Fee
- Back your business with the broad selection of Amazon and the service of American Express. Stay focused on your top business priorities, knowing we’re behind you.
- With rewards that don’t expire, you choose when to redeem. Redeem rewards on millions of items during checkout at Amazon.com and Amazon Business (U.S.) or apply towards a purchase on your statement.
- Terms apply.
Pros
- 5% back or 90-day terms
- No annual and foreign transaction fees
Cons
- No 0% introductory APR
- Only for Amazon Prime members
- Return protection: American Express will provide a refund for an item purchased within 90 days that cannot be returned to the merchant. Refunds are limited to $300 per item, up to $1,000 per cardmember, per calendar year.
- Baggage insurance: Get reimbursed for lost, damaged, or stolen luggage is damaged, lost, or stolen when you pay for your trip with your card, American Express will pay up to $1,250 per covered person for carry-on baggage and up to $500 for checked baggage.
- Car rental insurance: Get coverage for theft or damage of a car rental, up to $50,000. Cardholders can waive the collision insurance offered by the auto rental agency.
Intro APR
N/A
Regular APR
14.99% - 22.99% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Eligible Prime Members get a $125 Amazon Gift Card upon approval for the Amazon Business Prime American Express Card.
- Take advantage of 5% Back or 90 Day Terms on U.S. purchases at Amazon.com, Amazon Business, AWS and Whole Foods Market with an eligible Prime membership. You will earn 5% Back on the first $120,000 in purchases each calendar year, 1% Back thereafter
- 2% Back at U.S. restaurants, U.S. gas stations, and on wireless telephone services purchased directly from U.S. service providers
- 1% Back on other purchases
- $0 Annual Fee
- Back your business with the broad selection of Amazon and the service of American Express. Stay focused on your top business priorities, knowing we’re behind you.
- With rewards that don’t expire, you choose when to redeem. Redeem rewards on millions of items during checkout at Amazon.com and Amazon Business (U.S.) or apply towards a purchase on your statement.
- Terms apply.
Pros
- 5% back or 90-day terms
- No annual and foreign transaction fees
Cons
- No 0% introductory APR
- Only for Amazon Prime members
- Return protection: American Express will provide a refund for an item purchased within 90 days that cannot be returned to the merchant. Refunds are limited to $300 per item, up to $1,000 per cardmember, per calendar year.
- Baggage insurance: Get reimbursed for lost, damaged, or stolen luggage is damaged, lost, or stolen when you pay for your trip with your card, American Express will pay up to $1,250 per covered person for carry-on baggage and up to $500 for checked baggage.
- Car rental insurance: Get coverage for theft or damage of a car rental, up to $50,000. Cardholders can waive the collision insurance offered by the auto rental agency.
Why we like it: If you have a Prime membership at Amazon, you can earn substantial cash back when you use the Amazon Business Prime American Express Card to purchase business-related goods. You’ll get 5% cash back on every purchase, which you can spend on Amazon Business, Amazon Web Services (AWS), Amazon, and Whole Foods Market up to the first $120,000 each calendar year. If you don’t want to earn premium rewards on Amazon purchases, you could opt for a 90-day interest-free billing cycle instead. Get 2% back at restaurants, gas stations, and wireless phone services and 1% back on all other eligible purchases.
There’s no annual fee outside of the Amazon Business Prime membership fee. As an Amazon Business Prime member, you’ll gain access to quantity discounts as well as thousands of products only available to Business users. This card is the only cobranded credit card on this list, and it’s named the overall best Amazon business credit card.
U.S. Bank Business Platinum Card: Best for Long 0% APR Period
U.S. Bank Business Platinum Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Extended 0% APR period on purchases and balance transfers
Intro APR
0% for first 20 billing cycles
Regular APR
12.74% - 21.74% (Variable)
Annual Fee
$0
Credit Needed
Good/Excellent
- Limited time offer: 0% Intro APR on purchases and balance transfers for 20 billing cycles. After that, a variable APR currently 12.74% to 21.74%.
- U.S. Bank Business Platinum Card
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay ™Plan.
- Expense management tool VISA Spend Clarity is free to access and sync expenses, set employee card controls, generate reports, and more.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
Pros
- Offers a long 0% APR introductory period
- 0% APR applies to both purchases and balance transfers
- No annual fee
Cons
- No introductory and ongoing rewards
- Balance transfer fee is charged even during the introductory period
- Excellent/good credit score needed to qualify
- Extended warranty protection: U.S. Bank will double an original manufacturer’s warranty up to an additional one year for warranties of three years or less. Coverage is limited to $10,000 per item.
- Purchase protection: U.S. Bank offers purchase protection for items that are damaged or stolen within 90 days of purchase. The coverage is limited to $500 per claim and up to $50,000 per cardholder, per year.
Intro APR
0% for first 20 billing cycles
Regular APR
12.74% - 21.74% (Variable)
Annual Fee
$0
Credit Needed
Good/Excellent
- Limited time offer: 0% Intro APR on purchases and balance transfers for 20 billing cycles. After that, a variable APR currently 12.74% to 21.74%.
- U.S. Bank Business Platinum Card
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay ™Plan.
- Expense management tool VISA Spend Clarity is free to access and sync expenses, set employee card controls, generate reports, and more.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
Pros
- Offers a long 0% APR introductory period
- 0% APR applies to both purchases and balance transfers
- No annual fee
Cons
- No introductory and ongoing rewards
- Balance transfer fee is charged even during the introductory period
- Excellent/good credit score needed to qualify
- Extended warranty protection: U.S. Bank will double an original manufacturer’s warranty up to an additional one year for warranties of three years or less. Coverage is limited to $10,000 per item.
- Purchase protection: U.S. Bank offers purchase protection for items that are damaged or stolen within 90 days of purchase. The coverage is limited to $500 per claim and up to $50,000 per cardholder, per year.
Why we like it: Among all the cards on this list, the U.S. Bank Business Platinum card offers the longest 0% introductory APR period of 20 months. Sole proprietors who have balances on other high-interest business credit cards can consolidate these debts and pay them off interest-free within 20 months. In addition, the 0% introductory period for 20 months also applies to purchases. You can finance a substantial purchase with zero interest if you pay off your balance by the time the introductory APR ends.
Unlike most business cards mentioned here, the U.S. Bank Business Platinum card doesn’t offer any rewards. This card is best for sole proprietors looking to reduce or eliminate their debt, or those who plan to make a large purchase. This card has no annual fee and it’s one of our top choices for the best business credit card balance transfer offers.
Capital One® Spark® Classic for Business: Best for Sole Proprietors With Fair Credit
Capital One® Spark® Classic for Business
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Fair credit business owners (580 to 669)
Intro APR
N/A
Regular APR
26.99% (Variable)
Annual Fee
$0
Credit Needed
Average, Fair, Limited
- 1% cash back every time you swipe
- Build your business credit through responsible usage
- Issue employee cards for free
Pros
- Opportunity to build business credit
- Only requires fair credit
- No annual fee
Cons
- No 0% introductory APR
- No sign-up bonus
- High APR
- Purchase protection: Capital One will replace, repair, or reimburse you for eligible items in the event of theft or damage within the first 90 days of purchase.
- Extended warranty protection: You’ll get additional warranty protection on eligible items that are purchased with your business card, up to 1 year past the manufacturer’s warranty.
- Auto rental collision damage waiver: You’re covered for damage due to collision or theft when you rent an eligible car with your Capital One® Spark® Classic for Business card.
Intro APR
N/A
Regular APR
26.99% (Variable)
Annual Fee
$0
Credit Needed
Average, Fair, Limited
- 1% cash back every time you swipe
- Build your business credit through responsible usage
- Issue employee cards for free
Pros
- Opportunity to build business credit
- Only requires fair credit
- No annual fee
Cons
- No 0% introductory APR
- No sign-up bonus
- High APR
- Purchase protection: Capital One will replace, repair, or reimburse you for eligible items in the event of theft or damage within the first 90 days of purchase.
- Extended warranty protection: You’ll get additional warranty protection on eligible items that are purchased with your business card, up to 1 year past the manufacturer’s warranty.
- Auto rental collision damage waiver: You’re covered for damage due to collision or theft when you rent an eligible car with your Capital One® Spark® Classic for Business card.
Why we like it: The Capital One® Spark® Classic for Business card has no annual fee and it offers 1% cash back on all business purchases. There’s no cap on the number of rewards you can earn, and rewards will never expire. If you’re a sole proprietor with fair credit (580 to 669), this card is a great option as it can help you grow your credit score as long as you use it responsibly.
While this card is named the best overall business credit card for fair credit, keep in mind that it’s important to pay your balance for each statement period since it comes with a high APR of 26.99%. Your payment history will be reported to the major credit bureaus, so making consistent on-time payments can help you improve your credit over time.
Wells Fargo Business Secured Credit Card: Best for Sole Proprietors With Bad Credit
Why we like it: The Wells Fargo Business Secured Credit Card is the only secured business credit card on this list, which is an excellent choice for sole proprietors with poor credit. It has no annual fee and offers flexible rewards, just like the Wells Fargo Business Platinum Credit Card. You can choose between earning 1.5% cash back or 1x point for every dollar spent. If you select points, you’ll gain 1,000 bonus points each billing cycle when you spend at least $1,000.
This card is one of our top choices for the best secured business credit cards. Wells Fargo reports your payment and usage behavior to the Small Business Financial Exchange (SBFE), helping you build business credit. However, it doesn’t report to the major consumer credit bureaus, so it won’t affect your personal credit score. If you regularly make on-time payments, you could eventually qualify for an unsecured Wells Fargo credit card.
Applying for a Sole Proprietor Business Credit Card
When you apply for a business credit card as a sole proprietor, it’s a good idea to know your credit score in advance. Most business credit cards are geared toward business owners with good to excellent credit, but there are a few, such as the Capital One Spark Classic card and Wells Fargo Business Secured Credit Card, which are designed for business owners with fair or bad credit.
When you’re ready to apply for your sole proprietor business card, you’ll need to provide your Social Security number and tax identification number (TIN). Further, most business credit cards require a personal guarantee, so it’s best to decide what you can offer as a personal guarantee to increase your chances of approval. If you don’t want to provide a personal guarantee, you can choose from one of the best business cards with no personal guarantee.
How We Evaluated Sole Proprietor Business Credit Cards
When evaluating the best business credit cards for sole proprietors, we looked for cards with the most flexibility for a variety of purchases. We also looked at low interest rates and fees, introductory bonuses, rewards, and the ability to build business credit.
Bottom Line
The best card for sole proprietors should suit your spending style. Maximizing the 0% introductory APR period and earning introductory and ongoing bonus rewards will help save more money for your business in the end. Also, make sure to choose a card that can help build your business credit as this will be useful when you need to qualify for other business financing options later on.
Wells Fargo Business Secured Credit Card
BEST FOR:
Business owners with poor credit
On Wells Fargo's Secure Website
Earn 1.5% cash back on every $1 spent
Earn 1 point on every $1 spent and receive 1,000 bonus points when your company spend is $1,000 or more in any monthly billing period
Pros
Cons
Read Full Review
Earn 1.5% cash back on every $1 spent
Earn 1 point on every $1 spent and receive 1,000 bonus points when your company spend is $1,000 or more in any monthly billing period
Pros
Cons
Read Full Review
On Wells Fargo's Secure Website