Editor’s note: This is a recurring post with regularly updated card details.
New businesses with no credit can still qualify for credit cards and gain access to financing. While some people think business credit qualifies you for a business credit card, issuers typically evaluate your personal credit. The best cards usually require personal credit scores of at least 670, but we also include cards for owners with limited or no personal credit.
The best credit cards for new businesses with no credit history are:
- Chase Ink Business Unlimited®: Best overall for a big introductory bonus, no annual fee, and unlimited cash back rewards
- American Express Blue Business Cash™ Card: Best for earning the highest fixed-rate rewards and spending above your limit
- Capital One® Spark® Classic for Business: Best for fair credit (580 to 669)
- Wells Fargo Business Secured Card: Best for business owners who don’t qualify for an unsecured business card
- OpenSky® Secured Visa® Credit Card: Best for no credit check on a personal card
Chase Ink Business Unlimited®: Overall Best Credit Card for New Businesses With No Credit History
Ink Business Unlimited® Credit Card
BEST FOR
Pocketing 1.5% cash back on every single purchase
- 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
- 0% introductory APR for 12 months on purchases
- Employee cards at no additional cost
- No Annual Fee
Pros
- 0% APR on purchases
- Unlimited cash back rewards on all purchases
Cons
- Introductory APR period doesn’t apply to balance transfers
- 5% balance transfer 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 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: This small business credit card finds its way to the top of our list because of its solid mix of rewards, introductory financing, and no annual fee. You’ll have the luxury of earning unlimited 1.5% cash back from the moment you get your card. Plus, if you spend at least $2,500 on your card monthly, you can earn a sign-up bonus worth several hundred dollars.
What we also like about this card is that it allows new businesses to avoid interest. You’ll be able to finance purchases for 12 months with no interest. This type of offer can help you make necessary purchases to get your business off the ground without having to repay them immediately. However, make sure you pay off your balance before the introductory period is over and the ongoing annual percentage rate (APR) kicks in.
American Express Blue Business Cash™ Card: Best for Earning the Highest Fixed-rate Rewards
American Express Blue Business Cash™ Card
BEST FOR
Earning 2% cash back every time you swipe and 0% introductory APR for 12 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, 13.24% - 19.24%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- No interest for 12 months
- Earn consistent 2% cash back rewards on every purchase
Cons
- Offers no cash sign-up bonus
- 2% cash back category is capped at $50,000 in annual spending
- Extended warranty protection: American Express provides up to an additional year of coverage on warranties of up to 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 90 days of purchase. Coverage is limited to $1,000 per occurrence and $50,000 per account each year.
- Baggage insurance: If your luggage is damaged or lost when you travel on a common carrier like a plane, trip, ship, or bus, American Express will reimburse you for losses not covered by your own personal insurance.
Why we like it: This business credit card for owners with no credit checks several boxes: high fixed-rate rewards, spending above your limit, and introductory 0% APR. While the rewards aren’t unlimited like our top pick, you’ll be able to earn 2% cash back on annual spending up to $50,000. This rewards structure is ideal for businesses that spend across a variety of categories and don’t want to spend the time tracking category bonuses.
What’s more, this card offers a unique, expanded buying power feature. You’ll have the opportunity to spend above your credit limit if you need access to additional capital. You’ll even earn rewards on the amount you spend above your limit. However, the extra limit is not unlimited and is based on your credit usage. The American Express Blue Business Cash™ Card also ranks as one of the best startup business credit cards.
Capital One® Spark® Classic for Business: Best for Fair Credit
Capital One® Spark® Classic for Business
BEST FOR
Fair credit business owners (580 to 669)
- 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
- Earn fixed-rate rewards even with fair credit scores
- Rewards never expire
Cons
- High APR
- No sign-up bonus
- Reports to personal credit bureaus
- 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 one 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: This card ranks as one of the best business credit cards for those with no credit history because it gives owners with limited credit access to common business features. For example, while paying no annual fee, it rewards cardholders with 1% cash back, purchase protection, and extended warranty protection.
On top of earning rewards, you can also build your business and personal credit, all with one card. We recommend using this card to improve or build your credit score until you qualify for a traditional business credit card. The best business cards typically require a personal credit score of at least 670.
Wells Fargo Business Secured Credit Card: Best for Owners Who Don’t Qualify for an Unsecured Card
Wells Fargo Business Secured Credit Card
BEST FOR
Business owners with poor credit
- 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 you have limited or no credit history, this business credit card for no credit can help you access credit limits of $500 to $25,000. This a secured credit card, which means your credit limit will be equal to a cash deposit you make when you apply. For example, if you deposit $1,000, your credit limit will be equal to that amount.
You’ll also have the opportunity to choose between earning cash back or points-based rewards. It pays 1% cash back or 1.5 points per $1 spent. However, if you choose points-based rewards, you can also earn 1,000 bonus points when your company spends $1,000 or more in any monthly billing period.
The Wells Fargo Business Secured Credit Card only builds business credit. However, Wells Fargo will periodically review your credit card usage for an opportunity to upgrade you to an unsecured Wells Fargo business card.
OpenSky® Secured Visa® Credit Card: Best for No Credit Check
OpenSky® Secured Visa® Credit Card
BEST FOR
Business owners with a credit score below 580
- We don't pull your credit when you apply — so there’s no impact on your credit score.
- Your credit limit is defined by your refundable deposit, as low as $200 and up to $3000. You’re the one who decides what’s best for you.
- Use your card to make purchases like gas or groceries, or for recurring bills like your phone, without changing your total monthly budget.
- Equifax®, Experian® and TransUnion® get reports every month — that's important to help you quickly improve your credit score.
- You can set up email alerts to act as reminders, like when your payment is due or when a credit/return has posted.
- It has one of the lowest annual fees you'll find.
- This isn't some sort of a "starter card." The OpenSky® Secured Visa® delivers all the benefits of a Visa credit card.
Pros
- Helps rebuild personal credit
- Lower than average APR for a secured card
Cons
- Requires a deposit of $200 or more
- Comes with an annual fee
- Auto rental collision waiver: Receive protection for a damaged or stolen rental vehicle, up to the value of the vehicle.
Why we like it: If you want to avoid a credit check, choose this personal secured credit card. When you apply for the OpenSky® Secured Visa® Credit Card, the issuer won’t pull your credit, which means there’s no impact on your credit score. With this card, you can access credit limits between $200 to up to $3,000, subject to approval. The cash deposit you make for your credit line is refundable.
While this card offers a unique feature—no credit check—it lacks features seen on other business credit cards for no credit. For instance, it offers no introductory or ongoing rewards. Plus, you won’t be able to build your business credit because it doesn’t report to the main business credit bureaus.
How We Evaluated Business Credit Cards for No Credit
When evaluating credit cards for new businesses with no credit history, we prioritized qualification requirements. We also took into account each card’s APRs, annual fees, and overall rewards structures. The best business credit cards for no credit offer rewards worth up to 2% of your purchase price, provide cheap financing, and allow you to build your credit.
Bottom Line
When reviewing different business credit cards to choose from, you should first look at which card will be the most beneficial to your firm. The best card for you may be the one that offers the best rewards, cheap introductory financing, or the fewest qualification requirements.
Submit Your Comment
You must be logged in to comment. Click a "Log in" button below to connect instantly and comment.
LOG IN