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. While a business credit history is unnecessary, most issuers will typically check your personal credit score to see if you can qualify.
Here are the seven best credit cards for new businesses with no credit history:
- American Express Blue Business CashTM: Best overall credit card for new businesses with no credit history with instant approval and expanded buying power
- U.S. Bank Business Triple Cash Rewards World Elite Mastercard®: Best for 15-month 0% annual percentage rate (APR) and up to 5% cash back
- Brex Card: Best for daily and monthly payment options
- Chase Ink Business Unlimited®: Best for simple rewards program
- Capital One® Spark® Classic for Business: Best for fair credit with no annual fee
- Chase Ink Business Preferred® Credit Card: Best for high credit limit, generous welcome offer, and travel
- First National Bank of Omaha Business Edition® Secured® Visa Card: Best secured card with up to $100,000 credit limit
Best Business Credit Cards With No Credit At a Glance
American Express Blue Business CashTM: Best Overall Credit Card for New Businesses With No Credit History With Instant Approval and Expanded Buying Power
The American Express Blue Business Cash™ Card
BEST FOR:
Those who want better cash back rewards
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.49% - 26.49%, based on your creditworthiness and other factors as determined at the time of account opening. APRs will not exceed 29.99%
- 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.
- No Annual Fee
- Terms Apply
Pros
- 0% introductory annual percentage rate (APR)
- Welcome bonus
- Fixed rate rewards
- $0 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.
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.49% - 26.49%, based on your creditworthiness and other factors as determined at the time of account opening. APRs will not exceed 29.99%
- 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.
- No Annual Fee
- Terms Apply
Pros
- 0% introductory annual percentage rate (APR)
- Welcome bonus
- Fixed rate rewards
- $0 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: It is our choice for the overall best credit card for new businesses with no credit history because it offers instant approval when you meet the personal credit score requirement. This means you can get approval in as little as 30 seconds to a few minutes. You will receive your card numbers upon approval, making it available for use immediately.
What’s more, it comes with a $0 annual fee and features expanded buying power, allowing you to spend beyond your credit limit when you need to. Keep in mind that the amount you can spend over your credit limit depends on your card usage, payment behavior, credit history, and other financial considerations.
Other benefits
- Ongoing rewards: Earn 2% cash back on the first $50,000 worth of purchases in a calendar year, then 1% thereafter
- Welcome offer: Receive a $250 statement credit when you spend at least $3,000 in the first three months of card ownership
- 0% APR: Enjoy interest-free financing on purchases for the first 12 months
Consider the American Express Blue Business CashTM if:
- You need to spend over your credit limit from time to time
- Your annual business expenditure is $50,000 or less
These benefits are the reasons why the card is named our leading instant approval business card.
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®: Best for 15-month 0% APR & Up to 5% Cash Back
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
BEST FOR:
0% APR for 15 billing cycles
- Introducing the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® the card that gives back on all your eligible business needs.
- Earn $500 in cash back. Just spend $4500 on the Account Owner's card in the first 150 days of opening your account.
- 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 19.24% - 28.24%.
- No annual fee.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- $0 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.
- Introducing the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® the card that gives back on all your eligible business needs.
- Earn $500 in cash back. Just spend $4500 on the Account Owner's card in the first 150 days of opening your account.
- 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 19.24% - 28.24%.
- No annual fee.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- $0 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, this 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.
On top of that, you’ll 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. You can earn these rewards without having to pay an annual fee.
Other benefits
- Welcome offer: Receive a $500 bonus cash back after spending $4,500 on eligible purchases within the first 150 days of opening your account
- Annual software credit: Receive a $100 statement credit every year for your recurring software subscriptions
- ExtendPay® Plan: Divide your eligible balance into equal monthly installments without paying interest, just a small fixed monthly fee
Consider the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® if you:
- Need a long introductory 0% APR period on both purchases and balance transfers
- Pay for software subscriptions for your business
Its generous rewards and long 0% APR period allow you to save on crest costs. This is the reason why it is our top business card with no annual fee.
Brex Card: Best for Daily and Monthly Payment Options
Brex CardBEST FOR: Those who want daily or monthly payments | |
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Why we like it: Its unique feature is that it can be used as either a charge card (paid monthly) or a prepaid card (paid daily). If you choose to pay daily, your credit limit is 100% of your Brex Business Account balance, and your transactions are deducted directly from this account. You will also earn an additional 1x points on selected rewards categories. If you choose to pay monthly, you can enjoy a credit limit of up to 5% to 20% of your aggregate bank balance or 30% of your Brex business account balance.
You will earn the following rewards:
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Other benefits
- Special offer Brex and Fit Small Business have partnered to give you a special offer. This offer is exclusive to those who will open a Brex business account using the link on this site. : Get 10,000 bonus points when you open a Brex Business Account and spend $3,000 on a Brex card within your first three months
- No personal guarantee: Enjoy peace of mind as you won’t be held personally accountable for your business’s debts; for other options, check out our list of the best business cards with no personal guarantee
- Federal Deposit Insurance Corp. (FDIC) protection: Enjoy peace of mind because your operating cash in your Brex Business account is protected by FDIC up to $6 million
Consider the Brex Card if:
- You can pay your bills on a daily or monthly basis, as you cannot carry a balance to the next billing cycle
- Your company is a startup and needs a card that scales with its growth
Because of its scalability (Brex serves both startup founders and global companies with more than 10,000 employees), it is also selected as one of our top-recommended business cards for startups.
Chase Ink Business Unlimited®: Best for Simple Rewards Program
Ink Business Unlimited® Credit Card
BEST FOR:
Those who want fixed-rate 1.5% cash back on all purchases
- 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.
- Round-the-clock monitoring for unusual credit card purchases
- 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
- Member FDIC
Pros
- With interest-free financing option on purchases
- Fixed unlimited cash back on all purchases
Cons
- Does not have interest-free financing option on balance transfers
- Charges high foreign transaction fees
- Auto rental collision damage waiver: You can decline the company’s collision insurance and charge the entire rental cost to this card.
- Travel and emergency assistance services: Call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance.
- Purchase protection: You can ensure that your new purchases are covered for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Zero liability protection: Chase will not hold you responsible for unauthorized transactions made with both your card and your account information.
- Cellphone protection: Receive up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees included in your monthly cellphone bills when using your card to pay for it. This applies for a maximum of three claims within a 12-month period and will charge a $100 deductible per claim.
- 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.
- Round-the-clock monitoring for unusual credit card purchases
- 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
- Member FDIC
Pros
- With interest-free financing option on purchases
- Fixed unlimited cash back on all purchases
Cons
- Does not have interest-free financing option on balance transfers
- Charges high foreign transaction fees
- Auto rental collision damage waiver: You can decline the company’s collision insurance and charge the entire rental cost to this card.
- Travel and emergency assistance services: Call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance.
- Purchase protection: You can ensure that your new purchases are covered for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Zero liability protection: Chase will not hold you responsible for unauthorized transactions made with both your card and your account information.
- Cellphone protection: Receive up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees included in your monthly cellphone bills when using your card to pay for it. This applies for a maximum of three claims within a 12-month period and will charge a $100 deductible per claim.
Why we like it: It offers a fixed-rate cash back of 1.5% on all purchases with no spending categories. You can also earn 5% cash back on travel and on Lyft rides through March 2025. It has no annual fee and lets you redeem rewards for cash back, gift cards, travel, and merchandise through Chase Ultimate Rewards®.
Other benefits
- 0% APR: Take advantage of interest-free financing on purchases for the first 12 months of card ownership
- Welcome offer: Earn a sign-up bonus of $900 when you spend $6,000 within three months after opening an account
- Referral program: Receive up to 200,000 points per year when you already have a Chase Ink credit card and refer business owners to open a credit card account with Chase
Consider the Chase Ink Business Unlimited® if you don’t:
- Want to keep track of spending categories for earning rewards
- Need to use the 0% APR for balance transfer transactions
It is one of our top picks for the best small business credit cards due to its generous sign-up bonus and simplicity.
Capital One® Spark® Classic for Business: Best for Fair Credit With No Annual Fee
- 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 to qualify
- Doesn’t charge annual and balance transfer fees
Cons
- Charges high ongoing APR
- Has no 0% introductory APR
- No welcome offer
- Automatic payments: Setting up AutoPay in the Capital One mobile app will save you from having to worry about signing in to your account every month
- $0 fraud liability: If your card is either lost or stolen, you can get an emergency replacement and cash advance.
- Purchase records: You can download all purchase records quickly and securely in multiple formats, including Quicken®, QuickBooks®, and Excel®.
- Extended warranty: Get free additional warranty and protection on eligible items purchased with your business credit card.
- Free employee cards: You can create multiple employee cards, track employee spending, and customize spending limits while earning all the rewards from their purchases.
- 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 to qualify
- Doesn’t charge annual and balance transfer fees
Cons
- Charges high ongoing APR
- Has no 0% introductory APR
- No welcome offer
- Automatic payments: Setting up AutoPay in the Capital One mobile app will save you from having to worry about signing in to your account every month
- $0 fraud liability: If your card is either lost or stolen, you can get an emergency replacement and cash advance.
- Purchase records: You can download all purchase records quickly and securely in multiple formats, including Quicken®, QuickBooks®, and Excel®.
- Extended warranty: Get free additional warranty and protection on eligible items purchased with your business credit card.
- Free employee cards: You can create multiple employee cards, track employee spending, and customize spending limits while earning all the rewards from their purchases.
Why we like it: This card is designed for business owners with fair credit. It has no annual fee and offers 5% cash back on hotels and rental cars booked through Capital One Travel and 1% cash back on all other purchases, regardless of spending categories.
Other benefits
- Credit building: Use the card responsibly to help build or improve your credit as Capital One reports your transactions to major credit bureaus
- Easy redemption: Redeem your cash back as a statement credit or through a check sent by mail; you can also set up an automatic redemption preference based on a set schedule per calendar year or when a threshold is met
- No additional fees: Pay no foreign transaction and balance transfer fees
Consider the Capital One® Spark® Classic for Business if you:
- Could not qualify for other business credit cards that require a higher personal credit score
- Prefer to earn fixed-rate rewards that can be redeemed through statement credit or check by mail
It is our leading fair credit business card because of its generous rewards and fewer fees. However, it’s best to pay your balance in full each month as this card comes with a high ongoing APR.
Chase Ink Business Preferred® Credit Card: Best for High Credit Limit, Generous Welcome Offer & Travel
Ink Business Preferred® Credit Card
BEST FOR:
Maximizing travel rewards at a lower annual fee
- Earn 100k bonus points after you spend $8,000 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
- Round-the-clock monitoring for unusual credit card purchases
- 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.
- Member FDIC
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 interest-free financing option on both purchases and balance transfers
- With annual fee
- Need to make extremely large purchases to qualify for the welcome offer
- 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 United States 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
- Earn 100k bonus points after you spend $8,000 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
- Round-the-clock monitoring for unusual credit card purchases
- 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.
- Member FDIC
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 interest-free financing option on both purchases and balance transfers
- With annual fee
- Need to make extremely large purchases to qualify for the welcome offer
- 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 United States 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 card offers generous credit limits based on your personal credit score and other financial information. It also lets you earn a generous sign-up bonus of 100,000 points when you spend $15,000 during the first three months of card ownership. This is equivalent to $1,000 cash back or $1,250 when redeemed toward travel, making it a great option for those who travel frequently.
Other benefits
- Low annual fee: Pay only $95 per year while enjoying the benefits that come with the card
- Ongoing rewards: Earn 5x points on Lyft rides through March 2025, 3x points per $1 spent on online advertising, travel, shipping, internet, cable, and phone services on the first $150,000 spent in combined purchases on these categories, then 1x points per dollar after the cap is met and on all other purchases
- 25% more in travel redemption: Points are worth 25% more when you redeem them for travel
Consider the Chase Ink Business Preferred® Credit Card if you:
- Travel frequently for business and want to use your points to save on travel costs
- Need a high credit limit and can spend at least $15,000 in the first three months
The card is one of our top high-limit business credit cards due to its generous welcome offer and lucrative ongoing rewards.
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® Card
BEST FOR:
Secured credit lines of as much as $100,000
- While FNBO does not offer any rewards for their new and existing cardholders for this card, you can still earn rewards through Mastercard Easy Savings®, where cardholders are able to save on purchases with automatic rebates from over 40,000 participating merchant locations available.
Pros
- Available for those with very poor to good scores
- Can set credit limits from $2,000 to $100,000
- Offers free management reports
Cons
- With annual fee
- Charges foreign transaction fee
- No introductory and ongoing rewards
- Requires a security deposit of 110% of the credit limit required
- TurboTax discount: Get a discount of up to $20 on TurboTax federal products when using First National Bank of Omaha Business Edition® Secured Mastercard®.
- QuickBooks Online or QuickBooks Self-Employed discount: Receive either a 30% off of a 12-month subscription on QuickBooks Online (Simple Start, Essentials, Plus, or Advanced) or a 30% off of a 12-month subscription on QuickBooks Self-Employed. This is applicable only to new QuickBooks Online customers.
- Free management reports: First National Bank of Omaha provides free management reports to help track expenses, monitor spending, note tax deductions, prepare tax filings, and predict costs easily.
- Zero liability: FNBO guarantees that you won’t be held responsible for any fraudulent charges made with both your card and account information.
- While FNBO does not offer any rewards for their new and existing cardholders for this card, you can still earn rewards through Mastercard Easy Savings®, where cardholders are able to save on purchases with automatic rebates from over 40,000 participating merchant locations available.
Pros
- Available for those with very poor to good scores
- Can set credit limits from $2,000 to $100,000
- Offers free management reports
Cons
- With annual fee
- Charges foreign transaction fee
- No introductory and ongoing rewards
- Requires a security deposit of 110% of the credit limit required
- TurboTax discount: Get a discount of up to $20 on TurboTax federal products when using First National Bank of Omaha Business Edition® Secured Mastercard®.
- QuickBooks Online or QuickBooks Self-Employed discount: Receive either a 30% off of a 12-month subscription on QuickBooks Online (Simple Start, Essentials, Plus, or Advanced) or a 30% off of a 12-month subscription on QuickBooks Self-Employed. This is applicable only to new QuickBooks Online customers.
- Free management reports: First National Bank of Omaha provides free management reports to help track expenses, monitor spending, note tax deductions, prepare tax filings, and predict costs easily.
- Zero liability: FNBO guarantees that you won’t be held responsible for any fraudulent charges made with both your card and account information.
Why we like it: It offers a credit limit from $2,000 to $100,000, which is relatively high compared to most secured credit cards. 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.
Other benefits
- Low annual fee: Pay a low annual fee of $39
- Interest on security deposit: Earn interest on your security deposit; the rate will vary, so check the Deposit Agreement when you apply
- Mastercard Easy Savings®: Receive automatic rebates in over 40,000 participating merchant locations
It is a great option for those with bad credit history. It is our best business card for bad credit and one of our leading business secured cards. Note that aside from the automatic rebates on selected purchases from Mastercard, FNBO does not offer ongoing rewards on your purchases.
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.
Frequently Asked Questions (FAQs)
Using business credit cards for your business-related expenses responsibly 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. Note that late payments, high balances on credit cards, tax liens, and other legal judgments against your business can harm your credit score.
It usually takes at least three years to build your business credit, especially if you’re a new business and starting from scratch. However, some creditors may require only a year’s worth of business credit history. To establish business credit, make consistent on-time payments, avoid maxing out your credit limit to keep your credit utilization low, and pay all your bills (including vendors and lease) timely.
Most credit card companies require a personal guarantee as part of their approval process. There are business cards that don’t require a personal guarantee, and most of them are prepaid cards and co-branded store cards. Note that prepaid cards don’t report your transactions to credit bureaus, so they can’t help build your personal and business credit.
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, rates, rewards, and features 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, generous sign-up bonuses, and lucrative ongoing rewards. Also, select an option that reports your payment history to the business credit bureaus so that you can build your business credit over time. For other options, consider one of the best small business credit cards.