9 Best Credit Cards for New Businesses With No Credit History for 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 business credit cards with no credit history have an easy approval process, offer rewards, come with low fees, and can help you build your business credit. Typically, credit card issuers will check your personal credit to see if you qualify for credit cards for new businesses with no credit history. Your options include secured business credit cards, personal credit cards, and charge cards.
Here are the best credit cards for new businesses with no credit history:
- Chase Ink Business Unlimited®: Best overall credit card for new businesses with no credit history
- American Express Blue Business CashTM: Best for easy cash back rewards
- American Express Blue Business® Plus: Best for flexible points rewards
- Capital One® Spark® Classic for Business: Best card for fair credit with no annual fee
- Brex Card: Best for tech and life sciences startups and ecommerce businesses
- Chase Ink Business Preferred® Credit Card: Best for earning high introductory rewards
- Wells Fargo Business Secured Card: Best secured card for earning rewards
- First National Bank of Omaha Business Edition® Secured® Visa Card: Best secured credit card with credit limit up to $100,000
- OpenSky® Secured Visa® Credit Card: Best personal secured card for growing your credit score
To see how these cards stack up against others we 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 Credit Card for New Businesses With No Credit History
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: Chase Ink Business Unlimited® tops our list of the best credit cards for new businesses with no credit history because of its fixed-rate cash back of 1.5% on all purchases with no spending categories. New business owners can also take advantage of interest-free financing on purchases for the first 12 months of card membership.
This card has no annual fee and offers a sign-up bonus of $750 when you spend $7,500 within the first three months. Redeem rewards for cash back, gift cards, travel, and merchandise through Chase Ultimate Rewards®. The Chase Ink Business Unlimited® is also our #1 pick for the best small business credit cards, ideal for new business owners with good personal credit but who have no business credit history.
American Express Blue Business CashTM: Best for Easy Cash Back Rewards
American Express Blue Business Cash™ 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.
Intro APR
0% on purchases
Regular APR
13.99% - 21.99% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, 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 as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power, when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
Intro APR
0% on purchases
Regular APR
13.99% - 21.99% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, 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 as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power, when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
Why we like it: American Express Blue Business CashTM offers 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% afterward. The cash back earned is credited to your statement automatically. This card has no annual fee, minimizing your overall credit cost. Furthermore, you can make interest-free purchases for the first 12 months from opening an account.
You can earn a $250 statement credit as a bonus when you spend at least $3,000 in the first three months of card membership. Plus, the American Express Blue Business CashTM card features expanded buying power, allowing you to spend beyond your credit limit based on your credit history, card usage, and payment behavior. It also made our list of the best instant approval business credit cards because it offers instant card numbers upon approval, making the card available for use immediately.
American Express Blue Business® Plus: Best for Flexible Points Rewards
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: The American Express Blue Business® Plus is similar to the American Express Blue Business CashTM card but offers points-based rewards instead of cash back. It provides more flexibility with reward types, especially if your new business requires travel. You can earn 2x Membership Rewards® points on the first $50,000 during a calendar year, then 1x points after that.
If you plan to make a significant purchase, you can benefit from the 0% introductory APR for the first 12 months. You’ll also earn 15,000 points after spending $3,000 in eligible purchases within the first three months of opening an account. Points can be redeemed for flights, hotels, rental cars, merchandise, or gift cards, or at millions of online stores when you check out with PayPal. It’s one of our best business credit cards for startups because it comes with lucrative rewards and no annual fee.
Capital One® Spark® Classic for Business: Best Card for Fair Credit With No Annual Fee
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: Capital One® Spark® Classic for Business is a no-annual-fee business credit card for business owners with fair credit. It offers a fixed 1% cash back on all purchases regardless of spending categories, making it one of the best fair credit business credit cards.
It can help you grow your business credit score when used responsibly because it reports your payment history to the major business credit bureaus. Once your credit score rises, you’ll be eligible for a wider range of higher-performing cards. Make sure to pay your balance every billing cycle since its APR is high at 26.99%.
Brex Card: Best for Tech and Life Sciences Startups & Ecommerce Businesses
Brex Card for Startups
BEST FOR:
No personal guarantee and startups with investment funding
Intro APR
N/A
Regular APR
N/A
Annual Fee
$0
Credit Needed
N/A
- The First Corporate Card for Startups―ideal for tech companies and other early-stage corporations based in the United States with professional funding
- No personal liability or security deposit needed―no credit score impact
- The best rewards for startups: earn points on spend with industry-leading multipliers: 7x on rideshare, 4x on travel, 3x on restaurants and 2x on software subscriptions
- Minimum of $100,000 of funds in corporate bank account and US employer identification number (EIN) required
- Easy, online application―get a virtual card in 5 minutes or less and a physical card in the mail shortly thereafter
- Limits 10x to 20x higher than traditional business cards
- Embedded expense management software―never save receipts again and integrate with all major accounting software
- No foreign transaction fees
- Build business credit―Brex partners with Experian to report your on-time payments
Pros
- No personal guarantee or security deposit
- Stellar rewards and available credit limits
Cons
- Must have $100,000 in a corporate bank account
- Balance is required to be paid in full
- Capture receipts: Access easy expense tracking through the Brex app. You can upload your receipts and Brex will match them to your statement automatically. You can also submit receipts via text and email.
- Expense management: Brex integrates with QuickBooks®, NetSuite®, Expensify®, and Xero™ for accounting made easy.
- Add your team: Add new users, issue cards, and set and track specific spending limits for everyone on your team instantly.
Intro APR
N/A
Regular APR
N/A
Annual Fee
$0
Credit Needed
N/A
- The First Corporate Card for Startups―ideal for tech companies and other early-stage corporations based in the United States with professional funding
- No personal liability or security deposit needed―no credit score impact
- The best rewards for startups: earn points on spend with industry-leading multipliers: 7x on rideshare, 4x on travel, 3x on restaurants and 2x on software subscriptions
- Minimum of $100,000 of funds in corporate bank account and US employer identification number (EIN) required
- Easy, online application―get a virtual card in 5 minutes or less and a physical card in the mail shortly thereafter
- Limits 10x to 20x higher than traditional business cards
- Embedded expense management software―never save receipts again and integrate with all major accounting software
- No foreign transaction fees
- Build business credit―Brex partners with Experian to report your on-time payments
Pros
- No personal guarantee or security deposit
- Stellar rewards and available credit limits
Cons
- Must have $100,000 in a corporate bank account
- Balance is required to be paid in full
- Capture receipts: Access easy expense tracking through the Brex app. You can upload your receipts and Brex will match them to your statement automatically. You can also submit receipts via text and email.
- Expense management: Brex integrates with QuickBooks®, NetSuite®, Expensify®, and Xero™ for accounting made easy.
- Add your team: Add new users, issue cards, and set and track specific spending limits for everyone on your team instantly.
Why we like it: If your startup identifies with ecommerce and the tech and life sciences industries, the Brex Card is a good fit as it offers premium rewards on purchases like software subscriptions, conference tickets, and lab supplies. This business card can be used as either a debit card or charge card and comes in two types:
- Paid daily works like a debit card and is paid from your Brex Cash account balance.
- Paid monthly is like a charge card—you need to pay your balance in full every month.
You can earn up to 8x points on your purchases and build your business credit when you make consistent on-time payments because Brex reports your payments and usage behavior to credit bureaus. This card comes with no annual fees and is also a great option if you prefer a top-recommended business card without a personal guarantee.
Chase Ink Business Preferred® Credit Card: Best for Earning High Introductory Rewards
Ink Business Preferred® 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:
Maximizing travel rewards at a lower annual fee
Intro APR
N/A
Regular APR
16.24% - 21.24% Variable
Annual Fee
$95
Credit Needed
- Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®
- Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 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.
- Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open
- Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
- Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
Pros
- Opportunity to boost the value of reward points
- Offers cellphone protection and trip cancellation insurance
Cons
- Doesn’t offer an interest-free financing period
- Charges an annual fee
- 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 U.S. and abroad.
- Cellphone protection: You and the employees named on the phone bill you pay for with your card are covered for up to $600 in theft or damages per claim. You are limited to three claims per 12-month period, with a $100 deductible per claim.
- Trip cancellation and delay insurance: If your trip is canceled, you can be compensated up to $15,000 for prepaid expenses such as airfare or hotels. If your trip is delayed for 12 hours or more, you can be reimbursed up to $500 for your hotel room, meals, and transportation.
Intro APR
N/A
Regular APR
16.24% - 21.24% Variable
Annual Fee
$95
Credit Needed
Good, Excellent
- Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®
- Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 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.
- Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open
- Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
- Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
Pros
- Opportunity to boost the value of reward points
- Offers cellphone protection and trip cancellation insurance
Cons
- Doesn’t offer an interest-free financing period
- Charges an annual fee
- 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 U.S. and abroad.
- Cellphone protection: You and the employees named on the phone bill you pay for with your card are covered for up to $600 in theft or damages per claim. You are limited to three claims per 12-month period, with a $100 deductible per claim.
- Trip cancellation and delay insurance: If your trip is canceled, you can be compensated up to $15,000 for prepaid expenses such as airfare or hotels. If your trip is delayed for 12 hours or more, you can be reimbursed up to $500 for your hotel room, meals, and transportation.
Why we like it: The Chase Ink Business Preferred® credit card offers a lucrative introductory bonus and rich rewards for travel and other spending categories. You’ll receive 100,000 bonus points or the equivalent of $1,000 cash back after you spend $15,000 during the first three months of card ownership. This card tops our ranking of the best high-limit business credit cards because it offers generous credit limits based on your personal credit and other financial information.
It’s also an excellent option for new businesses that need to advertise on social media sites like Google and Facebook because you can earn 3x points per dollar spent on online advertising, along with travel, shipping, internet, cable, and phone. It comes with a low annual fee of $95 and a low starting APR of 16.24%.
Wells Fargo Business Secured Card: Best Secured Card for Earning Rewards
Wells Fargo Business Secured 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:
Business owners with poor credit
Intro APR
N/A
Regular APR
Prime + 11.90% on purchases
Annual Fee
None
Credit Needed
N/A
- Cash Back option:
Earn 1.5% cash back on every $1 spent - Reward Points option:
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 - $0 annual rewards program fee
- $500 to $25,000 credit line
- Zero liability protection
Pros
- Approval with credit scores below 580
- Your choice of fixed-rate cash back or points rewards
Cons
- Requires a security deposit of at least $500
- Has an annual fee
- Purchase assurance: Wells Fargo will repair, replace, or reimburse you for items that are damaged or stolen within 90 days of purchase.
- Design studio: Include a personal image or business design on your credit card.
Intro APR
N/A
Regular APR
Prime + 11.90% on purchases
Annual Fee
None
Credit Needed
N/A
- Cash Back option:
Earn 1.5% cash back on every $1 spent - Reward Points option:
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 - $0 annual rewards program fee
- $500 to $25,000 credit line
- Zero liability protection
Pros
- Approval with credit scores below 580
- Your choice of fixed-rate cash back or points rewards
Cons
- Requires a security deposit of at least $500
- Has an annual fee
- Purchase assurance: Wells Fargo will repair, replace, or reimburse you for items that are damaged or stolen within 90 days of purchase.
- Design studio: Include a personal image or business design on your credit card.
Why we like it: If your personal credit score cannot qualify for an unsecured business credit card, Wells Fargo Business Secured is your best bet. This secured business credit card has no annual fee and offers either points-based or cash back rewards. You can earn 1x point for every dollar spent, or 1.5% cash back, regardless of category. If you choose points, you’ll gain 1,000 bonus points each billing cycle when you spend at least $1,000.
While this card doesn’t report to the major consumer credit bureaus, it reports your payment and usage behavior to the Small Business Financial Exchange (SBFE), helping you build business credit. It’s our top-recommended secured business credit card because of its rewards flexibility.
First National Bank of Omaha Business Edition® Secured® Visa Card: Best Secured Credit Card With Credit Limit Up To $100,000
First National Bank of Omaha Business Edition Secured Visa Card
BEST FOR:
Secured credit lines of as much as $100,000
Intro APR
None
Regular APR
20.49% Variable
Annual Fee
$39
Credit Needed
N/A
- Request your own credit limit between $2,000 and $100,000―multiples of $50―when you apply, subject to credit approval.
- Security deposit is 110% of the amount of your credit limit, between $2,200 and $110,000―multiples of $50―subject to credit approval.
- $39 annual fee
- Earn interest on your security deposit.
- Variable 19.99% APR on purchases and balance transfers based on the prime rate.
- Get automatic rebates with Visa SavingsEdge® on purchases that you make at qualified merchants.
- US citizenship is not required, but you must have a valid Social Security number or individual taxpayer identification number (TIN) and a valid US address.
- Online access to view transactions, pay your bill, view up to seven years of prior statements, and more.
Pros
- Accepts a wide range of credit scores
- You can set your own credit limit
- Offers user-friendly management reports
- You’ll earn 0.05% annual percentage yield (APY) on your security deposit account balance
Cons
- Requires an annual fee
- Charges a foreign transaction fee
- Doesn’t offer rewards
- Automatic discounts: Good on purchases you make at qualified merchants. Rebates will be applied as statement credits.
- Visa Zero Liability: It covers you when fraudulent charges are made with either your card or your account information.
- Free management reports: Be able to track your expenses and spending, identify tax deductions, prepare tax filings, and predict costs with ease
Intro APR
None
Regular APR
20.49% Variable
Annual Fee
$39
Credit Needed
N/A
- Request your own credit limit between $2,000 and $100,000―multiples of $50―when you apply, subject to credit approval.
- Security deposit is 110% of the amount of your credit limit, between $2,200 and $110,000―multiples of $50―subject to credit approval.
- $39 annual fee
- Earn interest on your security deposit.
- Variable 19.99% APR on purchases and balance transfers based on the prime rate.
- Get automatic rebates with Visa SavingsEdge® on purchases that you make at qualified merchants.
- US citizenship is not required, but you must have a valid Social Security number or individual taxpayer identification number (TIN) and a valid US address.
- Online access to view transactions, pay your bill, view up to seven years of prior statements, and more.
Pros
- Accepts a wide range of credit scores
- You can set your own credit limit
- Offers user-friendly management reports
- You’ll earn 0.05% annual percentage yield (APY) on your security deposit account balance
Cons
- Requires an annual fee
- Charges a foreign transaction fee
- Doesn’t offer rewards
- Automatic discounts: Good on purchases you make at qualified merchants. Rebates will be applied as statement credits.
- Visa Zero Liability: It covers you when fraudulent charges are made with either your card or your account information.
- Free management reports: Be able to track your expenses and spending, identify tax deductions, prepare tax filings, and predict costs with ease
Why we like it: The First National Bank of Omaha Business Edition® Secured® Visa Card offers a credit limit from $2,000 to $100,000, which is the highest limit among all secured credit cards on this list. Your credit limit will be based on your security deposit, which should be 110% of your desired limit. For example, if you need a credit limit of $100,000, then your security deposit should be $110,000.
Keep in mind that this card charges a low annual fee of $39 and doesn’t offer a sign-up bonus or ongoing rewards on your purchases. However, you’ll earn interest on your security deposit based on the deposit account agreement. It’s a great option for those who have bad credit history and is even on our list of the top-ranking business credit cards for bad credit.
OpenSky® Secured Visa® Credit Card: Best Personal Secured Card for Growing Your Credit Score
OpenSky® Secured Visa® Credit Card
BEST FOR:
Business owners with a credit score below 580
Intro APR
N/A
Regular APR
17.64% Variable
Annual Fee
$35
Credit Needed
No Credit Check
- No credit check needed to apply—OpenSky® won’t pull your credit so there’s no impact on your credit score.
- You can set your own credit limit by making a refundable deposit ranging from $200 to $3,000.
- OpenSky® reports your activities to credit bureaus including Equifax®, Experian® and TransUnion® to help you build or improve your credit score.
Pros
- No credit check required
- Helps build credit
- Low annual fee
Cons
- No introductory APR
- No rewards
- Requires security deposit
- Email alerts: Set up email alerts as a reminder to make a payment, or when you almost use up your credit limit.
- Automatic payments: You can set up recurring automatic payments to ensure your card is paid on time.
- All benefits of a Visa®: This card comes with all the benefits of a Visa® credit card, including worldwide acceptance and fraud protection.
Intro APR
N/A
Regular APR
17.64% Variable
Annual Fee
$35
Credit Needed
No Credit Check
- No credit check needed to apply—OpenSky® won’t pull your credit so there’s no impact on your credit score.
- You can set your own credit limit by making a refundable deposit ranging from $200 to $3,000.
- OpenSky® reports your activities to credit bureaus including Equifax®, Experian® and TransUnion® to help you build or improve your credit score.
Pros
- No credit check required
- Helps build credit
- Low annual fee
Cons
- No introductory APR
- No rewards
- Requires security deposit
- Email alerts: Set up email alerts as a reminder to make a payment, or when you almost use up your credit limit.
- Automatic payments: You can set up recurring automatic payments to ensure your card is paid on time.
- All benefits of a Visa®: This card comes with all the benefits of a Visa® credit card, including worldwide acceptance and fraud protection.
Why we like it: When you need help rebuilding your personal credit, you can use the OpenSky® Secured Visa® Credit Card for any business purchase; your credit limit will be based on your refundable security deposit. It’s important to note that this card doesn’t offer rewards and charges an annual fee of $35. Since it’s a personal credit card, it’s important to keep your business and personal expenses separate to make tax season a lot easier.
OpenSky® reports your usage and payment behavior to major credit bureaus—which can help improve your credit score when you use the card responsibly—and doesn’t do a credit check upon application. The card is one of our best business cards for business owners with bad credit.
How New Business Owners Can Build Business Credit
Using business credit cards for your business-related expenses can help establish your business credit. A good business credit score is essential because it can help you qualify for small business loans whenever you need additional funding.
Aside from business credit cards, you can use trade lines with suppliers. Ensure you make regular on-time payments as late payments can hurt your business credit score. Also, you need to avoid high balances on credit cards, tax liens, and other legal judgments against your business because these can harm your credit score.
How We Evaluated the Best Credit Cards for New Businesses With No Credit History
We prioritized cards that offer rewards and have zero to low annual fees. We also looked at ongoing interest rates, introductory APRs and bonuses, and ease of application. Finally, we looked at opportunities for building credit scores.
Bottom Line
When you don’t have a business credit history and are looking for a business credit card, consider the fees, terms, and rates the card offers to determine if it’s a good fit for you and your business. You can find cards with 0% introductory rates, no annual fee, and ongoing rewards. If building credit is important to you, be sure to select an option that reports your payment history to the credit bureaus.
