While some people think business credit qualifies you for a business credit card, credit card issuers typically evaluate your personal credit. Credit cards for new businesses with no credit are designed for business owners with limited or no personal credit history. The best business credit cards for no credit give you access to necessary business financing.
The best credit cards for new businesses with no credit history of 2020:
- Capital One® Spark® Classic for Business: (Best Overall) Best for accessing business features
- 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
- Discover it® Secured: Best for building your personal credit
For more details on how we evaluate business credit cards for this list, see our methodology.
Capital One® Spark® Classic for Business: Best for Accessing Business Features
Capital One® Spark® Classic for Business
Best For: Fair credit business owners (580 to 669)
| Intro APR | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|
| N/A | 24.49% (Variable) | $0 | Average, Fair, Limited |
This small business credit card ranks as the top business credit card for no credit because it gives business owners with limited credit access to common business features. For example, while paying no annual fee, it rewards cardholders with 1% cash back and purchase protection. You’ll also be able to build your business and personal credit all with one card. It also ranks as one of the best startup business credit cards.
Capital One® Spark® Classic for Business Costs
- Introductory APR: None
- Ongoing APR: 24.49% variable, which will adjust with the prime rate
- Annual fee: None
- Balance transfer fee: None
Compare these costs to Wells Fargo Business Secured Card.
Capital One® Spark® Classic for Business Rewards
You will earn 1% cash back on all purchases with no cap, which is typically the maximum return rate among business credit cards for no credit owners.
Welcome offer: None
Capital One® Spark® Classic for Business Additional Features
- 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 up to 90 days against damage or theft up to $10,000 per claim.
- Lost luggage reimbursement: Checked or carry-on luggage is covered up to $3,000 if lost or stolen when you charge your ticket to the card.
Learn more: Capital One business card reviews
Wells Fargo Business Secured Credit Card: Best Business Secured Credit Card for No Credit
Wells Fargo Business Secured Credit Card
Best For: Business owners with poor credit
| Intro APR | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|
| N/A | Prime + 11.90% on purchases | $25 per card | N/A |
If you have limited or no personal credit history, this business credit card for no credit can help you access credit limits up to $25,000. This Wells Fargo credit card is a business secured credit card, which means your credit limit will be equal to a cash deposit you make when you apply. You’ll have the opportunity to choose between earning cash back or points-based rewards.
Wells Fargo Business Secured Credit Card Costs
- Credit line: Deposit $500 to $25,000 in a collateral account, which equals the amount of your credit line
- Introductory APR: None
- Ongoing APR: 16.65% variable, which will adjust with the prime rate
- Annual fee: $25 per card (10-card maximum)
- Balance transfer fee: Transfers not allowed
Compare this credit line and fees with OpenSky® Secured Visa® Credit Card.
Wells Fargo Business Secured Credit Card Rewards
You’ll have the choice to earn either cash back or points rewards:
- Cash back: 1.5% cash back on every purchase
- Points: Earn one point per $1 spent and receive 1,000 bonus points when your company spend is $1,000 or more in any one month period
Welcome offer: None
Compare these rewards with Capital One® Spark® Classic for Business.
Wells Fargo Business Secured Credit Card Additional Features
- Through the Zero Liability Program, you’ll be fully reimbursed for unauthorized purchases that are made on your card
- Alerts notify you about your available credit and account activity
- Fraud monitoring that monitors your business accounts
- Business spending reports that help manage your expenses
Learn more: Wells Fargo business card review
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
| Intro APR | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|
| N/A | 18.49% Variable | $35 | No Credit Check |
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.
OpenSky® Secured Visa® Credit Card Costs
- Credit line: Deposit $200 to $3,000 in a collateral account, which equals the amount of your credit line
- Introductory APR: None
- Ongoing APR: 18.49% variable, which will adjust with the prime rate
- Annual fee: $35
- Balance transfer fee: None
Compare these terms with the Wells Fargo Business Secured Credit Card.
OpenSky® Secured Visa® Credit Card Rewards
The OpenSky® Secured Visa® Credit Card doesn’t offer any introductory or ongoing rewards. If you want a secured card that offers rewards, consider the Wells Fargo Business Secured Credit Card.
OpenSky® Secured Visa® Credit Card Additional Features
- Set up email alerts to act as reminders, including when your payment is due or when a transaction has posted to your statement
- Delivers all the benefits of a Visa® credit card, including worldwide acceptance and fraud protection
- No credit check to apply
- Report to all three major credit bureaus
Discover it® Secured: Best for Building Your Personal Credit
Discover it® Secured
Best For: Business owners who need help rebuilding personal credit
| Intro APR | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|
| N/A | 24.49% Variable | $0 | N/A |
Choose the Discover it® Secured if your main focus in a credit card for no credit is to build your personal credit history. This is a personal credit card, so you won’t have a chance to build your business credit. However, you can use this card to get your personal credit score to a level that would qualify you for a traditional business credit card. You’ll be able to earn cash back rewards and have access to a unique welcome offer.
Discover it® Secured Costs
- Credit line: Deposit $200 to $2,500 in a collateral account, which equals the amount of your credit line
- Introductory APR: 10.99% for six months from date of first balance transfer, for transfers under that post to your account by May 10, 2020
- Ongoing APR: 24.99% variable, which adjusts with the prime rate
- Annual fee: None
- Balance transfer fee: 3% intro fee on balances transferred by May 10, 2020, and up to 5% fee on transfers after that
Compare these costs to the OpenSky® Secured Visa® Credit Card.
Discover it® Secured Rewards
- 2% cash back at gas stations and restaurants on up to $1,000 in purchases each quarter
- 1% cash back on all other purchases
Welcome offer: Discover will automatically match all of the cash back rewards you’ve earned at the end of your first year.
Discover it® Secured Additional Features
- View your FICO personal credit score on your phone and online for free
- Freeze your account and Discover will not authorize new purchases, cash advances, or balance transfers
- Ability to convert your card to an unsecured credit card from showing responsible credit card usage
How We Evaluated Business Credit Cards for No Credit
Credit cards for new businesses with no credit history allow business owners with limited or no personal credit to open a credit card for business funding. The best business credit cards for no credit offer rewards worth up to 1% of your purchase price and give you an opportunity to build your credit. See methodology in detail.
Bottom Line
When reviewing the best credit cards for new businesses with no credit history, you should first look at which card will be the most beneficial to your firm. The best card for you may be the one with the fewest qualification requirements or one that doesn’t pull your personal credit when you apply.
