9 Best Credit Cards for New Businesses With No Credit History for 2023
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 for new businesses with no credit history have an easy approval process, offer rewards, come with low fees, and can help you build your business credit. Issuers will typically check your personal credit to see whether you qualify for credit cards if you lack credit history. Your options also include secured business credit cards and personal credit 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
- Capital One® Spark® Classic for Business: Best card for fair credit with no annual fee
- First National Bank of Omaha Business Edition® Secured® Visa Card: Best secured card with a credit limit of up to $100,000
- Bank of America® Business Advantage Unlimited Cash Rewards Secured: Best for bad credit with unlimited rewards
- American Express Blue Business CashTM: Best for instant approval
- U.S. Bank Business Triple Cash Rewards World Elite Mastercard®: Best for long 0% annual percentage rate (APR)
- Capital One® Spark® Cash Select Good Credit: Best for good credit with unlimited cash back
- Chase Ink Business Preferred® Credit Card: Best for online advertising
- SVB Innovators Card: Best charge card with no personal guarantee
To see how these cards stack up against others we reviewed on our site, click Add to Compare on a card below and choose 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
17.49% - 23.49% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- BEST OFFER EVER: Earn $900 bonus cash back after you spend $6,000 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 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 three years or less
Intro APR
0% Intro APR on Purchases
Regular APR
17.49% - 23.49% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- BEST OFFER EVER: Earn $900 bonus cash back after you spend $6,000 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 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 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.
It has no annual fee and offers a sign-up bonus of $900 when you spend $6,000 within the first three months. Redeem rewards for cash back, gift cards, travel, and merchandise through Chase Ultimate Rewards®. It’s also our #1 pick for the best small business credit cards, ideal for new business owners with good personal credit but no business credit history.
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
29.74% (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
29.74% (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 designed for business owners with fair credit. It has no annual fee and offers a fixed 1% cash back on all purchases regardless of spending categories, making it our leading fair credit business credit card.
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 it comes with a high APR.
First National Bank of Omaha Business Edition® Secured® Visa Card: Best Secured Card With Credit Limit Up To $100,000
First National Bank of Omaha Business Edition Secured Mastercard® Credit Card
BEST FOR:
Secured credit lines of as much as $100,000
Intro APR
None
Regular APR
23.99% 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.
- United States citizenship isn’t 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
23.99% 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.
- United States citizenship isn’t 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 among all secured credit cards on this list. Your limit will be based on your security deposit, which should be 110% of your desired limit. For example, if you need a limit of $100,000, then your security deposit should be $110,000.
Keep in mind that while the card charges a low annual fee of $39, it lacks a sign-up bonus and 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 secured credit cards.
Bank of America® Business Advantage Unlimited Cash Rewards Secured: Best for Bad Credit With Unlimited Rewards
Business Advantage Unlimited Cash Rewards Secured Credit Card
BEST FOR:
Those who cannot qualify for unsecured business credit cards
Intro APR
None
Regular APR
26.49%
Annual Fee
None
Credit Needed
Poor
- Earn unlimited 1.5% cash back on all purchases
Pros
- No annual fee
- Unlimited rewards
- Builds business credit
Cons
- Security deposit is required
- No sign-up bonus
- No 0% Intro APR
- Cash flow management tools
- Travel and emergency services
- Online and mobile access
- Balance Connect™ for overdraft protection
- Zero liability protection
Intro APR
None
Regular APR
26.49%
Annual Fee
None
Credit Needed
Poor
- Earn unlimited 1.5% cash back on all purchases
Pros
- No annual fee
- Unlimited rewards
- Builds business credit
Cons
- Security deposit is required
- No sign-up bonus
- No 0% Intro APR
- Cash flow management tools
- Travel and emergency services
- Online and mobile access
- Balance Connect™ for overdraft protection
- Zero liability protection
Why we like it: If you have no business credit and your personal credit score cannot qualify for an unsecured business credit card, the Bank of America® Business Advantage Unlimited Cash Rewards Secured credit card may be a great option for you. It offers unlimited 1.5% cash back on all purchases, regardless of expense categories. Plus, you only need to make a security deposit of at least $1,000 to qualify. The amount of your security deposit will determine your credit limit.
You can minimize your overall credit costs because this card comes with no annual fee. With consistent on-time payments, you’ll be able to improve your personal credit score and eventually qualify for a wide selection of unsecured business credit cards. It’s our top-recommended business secured credit card and our overall best business card for bad credit because of its unlimited rewards with no annual fee.
American Express Blue Business CashTM: Best for Instant Approval
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.
BEST FOR:
Those who want better cash back rewards
Intro APR
0% on purchases
Regular APR
17.49% - 25.49% 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 us and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 17.49% - 25.49%, 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
17.49% - 25.49% 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 us and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 17.49% - 25.49%, 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 is our leading instant approval business credit card because it offers instant card numbers upon approval, making it available for use immediately. You need to have a good to an excellent personal credit score to get approved—but you can qualify even if you don’t have a business credit history. It features expanded buying power, allowing you to spend beyond your credit limit based on your credit history, card usage, and payment behavior.
It offers 2% cash back on all eligible purchases of up to $50,000 per calendar year, then 1% thereafter. The cash back earned is credited to your statement automatically. You can also earn a $250 statement credit as a bonus when you spend at least $3,000 in the first three months of card membership. It has no annual fee, and you can make interest-free purchases for the first 12 months after opening an account.
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®: Best for Long 0% APR
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
BEST FOR:
0% APR for 15 billing cycles
Intro APR
Regular APR
18.24% - 27.24% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Earn $500 in cash back. Just spend $4500 on the Account Owner's card in the first 150 days of opening your account.
- Introducing the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® the card that gives back on all your eligible business needs.
- Earn 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center.
- No limit on total cash back earned.
- Rewards never expire.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or quickbooks
- 0% Intro APR on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 18.24% - 27.24%.
- No annual fee.
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
Intro APR
Regular APR
18.24% - 27.24% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Earn $500 in cash back. Just spend $4500 on the Account Owner's card in the first 150 days of opening your account.
- Introducing the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® the card that gives back on all your eligible business needs.
- Earn 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center.
- No limit on total cash back earned.
- Rewards never expire.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or quickbooks
- 0% Intro APR on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 18.24% - 27.24%.
- No annual fee.
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
Why we like it: If you need to make a significant purchase to start a business or transfer a balance from another card, the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® is an excellent choice. You can take advantage of interest-free financing on both purchases and balance transfers for 15 months after opening an account.
You’ll also earn 5% cash back on prepaid hotels and car rentals directly booked in the Travel Rewards Center, 3% cash back on gas, office supplies, cellphone services, and dining, and 1% cash back on all other purchases. Plus, you’ll receive a $500 bonus cash back after spending $4,500 on eligible purchases within the first 150 days of opening your account. Because of all these benefits, it’s even our leading business credit card with no annual fee.
Capital One® Spark® Cash Select Good Credit: Best for Good Credit With Unlimited Cash Back
Capital One® Spark® Cash Select Good Credit
BEST FOR:
Businesses with good credit that want a 0% introductory APR
Intro APR
0%
Regular APR
20.24% - 28.24% variable, which adjusts with the prime rate
Annual Fee
$0
Credit Needed
Good
- Unlimited 5% cash back on hotels and rental cars booked through Capital One Travel
- Unlimited 1.5% fixed-rate cash back on all purchases with no limits or category restrictions
Pros
- No annual fee
- Ability to finance purchases with 0% APR for 12 months
- Free employee cards
Cons
- 0% APR doesn’t apply to balance transfers
- No sign-up bonus
- $0 foreign transaction fee: No foreign transaction fees on purchases made outside of the United States
- $0 fraud liability: Advance emergency replacement for lost and stolen cards plus a cash advance
- Roadside assistance: Services like jump-starting, tire changing, and towing
Intro APR
0%
Regular APR
20.24% - 28.24% variable, which adjusts with the prime rate
Annual Fee
$0
Credit Needed
Good
- Unlimited 5% cash back on hotels and rental cars booked through Capital One Travel
- Unlimited 1.5% fixed-rate cash back on all purchases with no limits or category restrictions
Pros
- No annual fee
- Ability to finance purchases with 0% APR for 12 months
- Free employee cards
Cons
- 0% APR doesn’t apply to balance transfers
- No sign-up bonus
- $0 foreign transaction fee: No foreign transaction fees on purchases made outside of the United States
- $0 fraud liability: Advance emergency replacement for lost and stolen cards plus a cash advance
- Roadside assistance: Services like jump-starting, tire changing, and towing
Why we like it: Capital One® Spark® Cash Select Good Credit is designed for business owners with good credit wanting to earn fixed-rate cash back without having to monitor spending categories. It has no annual fee and offers unlimited 1.5% cash back on all business-related purchases.
If you need to make a significant purchase, you can take advantage of its 0% introductory APR for the first 12 months of account opening. It’s worth noting that the 0% APR doesn’t apply to balance transfer transfers. Also, it doesn’t offer a sign-up bonus. Its easy rewards program and flexible redemption options make it one of our top-recommended business credit cards for self-employed individuals and consultants.
Chase Ink Business Preferred® Credit Card: Best for Online Advertising
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
20.24% - 25.24% 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
- Reward points are worth 25% more when you redeem for travel through the Chase Ultimate Rewards® card
- Comprehensive travel and purchase protection
- No foreign transaction fees
Cons
- No interst-free financing option on both purchases and balance transfers
- With annual fee
- Need to make extremely large purchases to qualify for the sign-up bonus
- Cellphone protection: Get up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees listed on your monthly cellphone bill
- Purchase protection: Can cover your new purchases for 120 days against damage or theft of up to $10,000 per claim and $50,000 per account
- Extended warranty protection: You can extend the period of the US manufacturer’s warranty by an additional year, on eligible warranties of three years or less.
- Fraud monitoring: Chase will help keep your accounts safe with account alerts – and you can choose how you’d like to receive them
- Free employee cards: You can create employee cards at no additional cost, and lets you set individual spending limits―helping you earn rewards even faster
Intro APR
N/A
Regular APR
20.24% - 25.24% 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
- Reward points are worth 25% more when you redeem for travel through the Chase Ultimate Rewards® card
- Comprehensive travel and purchase protection
- No foreign transaction fees
Cons
- No interst-free financing option on both purchases and balance transfers
- With annual fee
- Need to make extremely large purchases to qualify for the sign-up bonus
- Cellphone protection: Get up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees listed on your monthly cellphone bill
- Purchase protection: Can cover your new purchases for 120 days against damage or theft of up to $10,000 per claim and $50,000 per account
- Extended warranty protection: You can extend the period of the US manufacturer’s warranty by an additional year, on eligible warranties of three years or less.
- Fraud monitoring: Chase will help keep your accounts safe with account alerts – and you can choose how you’d like to receive them
- Free employee cards: You can create employee cards at no additional cost, and lets you set individual spending limits―helping you earn rewards even faster
Why we like it: The Chase Ink Business Preferred® credit card offers rich ongoing rewards for various spending categories. It’s 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. You’ll also earn 3x points per dollar on travel, shipping, internet, cable, and phone services. The 3x points per dollar are earned on the first $150,000 spent in combined purchases on the above-mentioned categories, then earn 1x point per dollar after the cap is met.
Plus, it has a low annual fee of $95 and offers a lucrative introductory bonus. You’ll receive 100,000 bonus points, the equivalent of $1,000 cash back, when you spend $15,000 during the first three months of card ownership. It’s our best high-limit business credit card because it offers generous credit limits based on your personal credit score and other financial information.
SVB Innovators Card: Best Charge Card With No Personal Guarantee
SVB Innovators Card
BEST FOR:
Those who do not want a personal guarantee
Intro APR
N/A
Regular APR
N/A
Annual Fee
None
Credit Needed
Excellent
- Unlimited 2x points per dollar on every purchase, with no caps or spending category restrictions
Pros
- Doesn’t charge annual and foreign transaction fees
- No personal liability is required
Cons
- Doesn’t offer 0% introductory APR
- Requires excellent credit
- Needs to pay the balance in full each month
- Doesn’t have sign-up bonus
- No personal liability: You don’t need to be personally liable for your business’s credit card debts because this business charge card doesn’t require a personal guarantee, meaning that SVB won’t go after your personal assets in case you fail to pay off your balance.
- Travel and expense (T&E): You can save time with T&E tools like in-app receipt capture and real-time updates for seamless reporting.
- Expense app integration: You can integrate your accounting with Xero, QuickBooks, Intacct, and NetSuite.
Intro APR
N/A
Regular APR
N/A
Annual Fee
None
Credit Needed
Excellent
- Unlimited 2x points per dollar on every purchase, with no caps or spending category restrictions
Pros
- Doesn’t charge annual and foreign transaction fees
- No personal liability is required
Cons
- Doesn’t offer 0% introductory APR
- Requires excellent credit
- Needs to pay the balance in full each month
- Doesn’t have sign-up bonus
- No personal liability: You don’t need to be personally liable for your business’s credit card debts because this business charge card doesn’t require a personal guarantee, meaning that SVB won’t go after your personal assets in case you fail to pay off your balance.
- Travel and expense (T&E): You can save time with T&E tools like in-app receipt capture and real-time updates for seamless reporting.
- Expense app integration: You can integrate your accounting with Xero, QuickBooks, Intacct, and NetSuite.
Why we like it: The SVB Innovators Card is a charge card and not a credit card that doesn’t require a personal guarantee, which means the bank won’t go after your personal assets in case your business cannot pay its debts. It’s our leading business card without personal guarantee and one of our best business cards for startups. To qualify, you need to open a deposit account with Silicon Valley Bank. Your bank account balance and your personal credit score are two of the biggest factors that will determine your eligibility.
It doesn’t have an annual fee and offers unlimited, fixed-rate 2x points per dollar on every purchase. Also, you’ll have a flexible credit limit that scales with your business’s growth. It’s important to note that since it’s a charge card, you need to pay your full balance every month, so it doesn’t come with an APR. Failing to pay your balance in full will result in a late payment fee of $32 or 2.5% of the unpaid charges, whichever is greater.
How We Selected the Best Credit Cards for New Businesses With No Credit History
We prioritized cards that offer opportunities for building credit scores and have zero or low annual fees. We also looked at ongoing interest rates, introductory APRs, bonuses, ongoing rewards, and ease of application.
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 also 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.
Bottom Line
When you don’t have a business credit history and are looking for a business credit card, most issuers will look at your personal credit score and your banking relationship with them as their basis for approval. Consider the fees, terms, and rates the card offers to determine which card is a good fit for your business. You can find cards with 0% introductory rates, no annual fee, and ongoing rewards. Also, select an option that reports your payment history to the business credit bureaus so that you can build your business credit.
