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First National Bank of Omaha Business Edition® Secured Mastercard® is designed for business owners with low credit scores who cannot qualify for a regular, unsecured business credit card. It offers credit limits that range from $2,000 to $10,000. To be eligible, your credit score must be anywhere from 300 to 719, and you need to make a security deposit equivalent to 110% of your preferred credit limit. Note that it doesn’t offer rewards—but you can earn rebates at selected merchants through the Mastercard Easy Savings® program.
If you wish to compare one credit card over another, choose a maximum of three cards on this page and click Add to Compare to view the details in a side-by-side comparison.
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.
When grading secured business credit cards like the First National Bank of Omaha Business Edition® Secured Mastercard®, we first consider the annual fee and ongoing annual percentage rates (APRs). We also take into account the rewards, security deposit requirements, introductory APR, other fees, and additional features.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Annual Fee | 20 | 25 |
Introductory APR | 0 | 5 |
Ongoing APR | 20 | 25 |
Introductory Rewards | 0 | 10 |
Ongoing Rewards | 0 | 10 |
Security Deposit | 5 | 10 |
Other Fees | 8 | 10 |
Additional Features | 5 | 5 |
Total Score | 58 | 100 |
Who the First National Bank of Omaha Business Edition® Secured Mastercard® Is Best For
- Business owners with low credit scores: If you cannot qualify for a traditional secured credit card because of your credit score, the First National Bank of Omaha Business Edition® Secured Mastercard® is a great choice because it only requires a credit score of anywhere from 300 to 719 (very poor to good).
- Business owners needing to establish or improve their credit: Your transactions will be reported to the major credit bureaus, helping you establish or rebuild your credit when you use the card responsibly and make on-time payments consistently.
- Business owners with extra cash: You need to make a security deposit of at least $2,200 to qualify for the card; this will serve as collateral in case you fail to pay your bill. Note that you will earn interest on your security deposit.
Check out our recommended alternatives below if this card is not a good fit for your business.
First National Bank of Omaha Business Edition® Secured Mastercard® Rewards
The First National Bank of Omaha Business Edition® Secured Mastercard® does not offer ongoing and introductory rewards on purchases. However, you can earn automatic rebates at over 40,000 merchants under the Mastercard Easy Savings® program.
First National Bank of Omaha Business Edition® Secured Mastercard® Features
- Contactless technology: Tap your card on terminals to pay for your purchases, providing a simple and touch-free way to pay.
- Cash flow management: The bank provides flexibility to cover the costs of your purchases, including supplies, travel, and equipment.
- Zero liability: The bank guarantees that you won’t be held responsible for any fraudulent charges made with both your card and account information.
- Mobile receipt management: Capture receipts using your mobile phone camera, so you can keep a record of your receipts and expenses easily.
- Auto rental insurance: Get coverage for automobile rentals when you use your card to pay for the rental.
- Free 24/7 online access: Access the online platform to manage your account, view your transactions, pay your bills, set up alerts, and more.
- Global services: Access expert assistance whenever you need to. This allows you to request a replacement card or emergency cash when you travel.
First National Bank of Omaha Business Edition® Secured Mastercard® Fees
APR
- Introductory: None
- Ongoing and balance transfers: 25.99% variable—adjusts with the prime rate (minimum interest charged is $1.75)
- Cash advance: 29.99% variable—adjusts with the prime rate
Fees
- Annual: $39
- Security deposit: 110% of the amount of your credit limit, which can be between $2,200 and $11,000 (multiples of $50)
- Balance transfer: Either $10 or 5% of the amount of each transfer, whichever is greater
- Cash advance: Either $15 or 5% of the amount of each cash advance, whichever is greater
- Cash equivalent: Either $15 or 5% of the amount of each cash equivalent transaction, whichever is greater
- Foreign transaction: 3% of each transaction in United States dollars (USD)
- Late payment:
- $35 if the new balance is less than $500
- $39 if the new balance is equal to or greater than $500
- Returned payment: $35
- Over-the-credit-limit: $39
Your due date is at least 20 days after the close of each billing cycle.
- Online: Log in to your account and make payments online from any device. Credit card payments are usually posted to your account on the same day if they were processed before 5 p.m. CT. If the payment was made after 5 p.m. but before 11:59 p.m. Central time, these will be processed on the next banking day and will be credited for the date of payment.
- AutoPay: When enrolling your account in AutoPay, your payment is made automatically every month on either the due date or a date you indicate. For AutoPay to work, you’ll need to select an FNBO checking or savings account to make your payment from and set the amount to be deducted.
- Phone: Pay your bill by calling FNBO’s customer care line at (888) 295-5540. Note that if you want your payment to be credited to your account on the same banking day, you must call before 5 p.m. CT, Monday through Friday. You can also use the same number to make a rush payment.
- Mail: You can send your regular credit card payments to:
Bankcard Payment Processing
1620 Dodge St.
Omaha, NE 68197-2210
Alternatively, you can send your overnight credit card payments to the same address. Make sure to include “Attn: Express Payments” when sending it.
First National Bank of Omaha Business Edition® Secured Mastercard® Alternatives
Valley Visa® Secured Business Credit Card
Valley Visa® Secured Business Credit Card
BEST FOR:
Those who need a secured business credit card with fixed-rate cash back rewards
- 1% unlimited cash back on all purchases
- 110% percent of your approved credit limit
- $1,000 to $25,000, based on customer request
Pros
- Applicants with poor or limited credit history can still qualify
- Offers 0% APR on both purchases and balance transfers for six billing cycles
- $0 annual fee
- Offers 1% unlimited cash back on all purchases
- Report to major credit bureaus
Cons
- Credit limits are capped to $25,000
- Requires refundable security deposit of 110% credit limit
- Up to 25 free employee cards only
- Charges foreign transaction fee
- Online account access: Manage your account conveniently through online access.
- Fraud protection alerts: Immediate alerts for suspected fraudulent transactions.
- Visa purchase alerts: Receive near real-time notifications via email or text message for transactions made with your enrolled Visa card.
- Report to major credit bureaus: The card reports account information and transactions to major credit bureaus each month, helping users build credit with responsible use.
- 1% unlimited cash back on all purchases
- 110% percent of your approved credit limit
- $1,000 to $25,000, based on customer request
Pros
- Applicants with poor or limited credit history can still qualify
- Offers 0% APR on both purchases and balance transfers for six billing cycles
- $0 annual fee
- Offers 1% unlimited cash back on all purchases
- Report to major credit bureaus
Cons
- Credit limits are capped to $25,000
- Requires refundable security deposit of 110% credit limit
- Up to 25 free employee cards only
- Charges foreign transaction fee
- Online account access: Manage your account conveniently through online access.
- Fraud protection alerts: Immediate alerts for suspected fraudulent transactions.
- Visa purchase alerts: Receive near real-time notifications via email or text message for transactions made with your enrolled Visa card.
- Report to major credit bureaus: The card reports account information and transactions to major credit bureaus each month, helping users build credit with responsible use.
Valley Visa® Secured Business Credit Card is a better secured business card because it charges $0 annual fees, offers 1% cash back on all purchases, and comes with 0% APR on purchases for the first six billing cycles. It offers a credit limit of up to $25,000 and requires a security deposit of 110% of your desired credit limit. Plus, you can get up to 25 employee cards at no additional cost.
Discover it® Secured Credit Card
Discover it® Secured
BEST FOR:
Business owners who need help rebuilding credit
- Earn cash back and build your credit with responsible use.
- It's a real credit card. You can build a credit history with the three major credit bureaus: Equifax, Experian, and TransUnion.
- Establish your credit line by providing a refundable security deposit from $200 to $2,500 after being approved. Bank information must be provided when submitting your deposit.
- Automatic reviews starting at eight months to see if we can transition you to an unsecured line of credit and return your deposit.
- 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. In addition, earn an unlimited 1% cash back on all your other purchases―automatically
- Get 100% US-based customer service & get your free Credit Scorecard with your FICO® Credit Score
- We match all the cash back you've earned at the end of your first year automatically.
- Receive Free Social Security number alerts—Discover will monitor thousands of risky websites when you sign up.
Pros
- With cash back rewards for new and existing cardholders
- Lets you enjoy $0 annual fees
- Offers automatic monthly account review
Cons
- No 0% annual percentage rate (APR) period on purchases and balance transfers
- High ongoing APR
- Updated FICO credit scores: You can get FICO® credit score, key factors, and other credit information on Discover.com and your statement.
- Data privacy: Remove personal information from selected people-search sites that may sell your data.
- Freeze it®: Freeze your account within seconds in the event you have misplaced your physical card
- Earn cash back and build your credit with responsible use.
- It's a real credit card. You can build a credit history with the three major credit bureaus: Equifax, Experian, and TransUnion.
- Establish your credit line by providing a refundable security deposit from $200 to $2,500 after being approved. Bank information must be provided when submitting your deposit.
- Automatic reviews starting at eight months to see if we can transition you to an unsecured line of credit and return your deposit.
- 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. In addition, earn an unlimited 1% cash back on all your other purchases―automatically
- Get 100% US-based customer service & get your free Credit Scorecard with your FICO® Credit Score
- We match all the cash back you've earned at the end of your first year automatically.
- Receive Free Social Security number alerts—Discover will monitor thousands of risky websites when you sign up.
Pros
- With cash back rewards for new and existing cardholders
- Lets you enjoy $0 annual fees
- Offers automatic monthly account review
Cons
- No 0% annual percentage rate (APR) period on purchases and balance transfers
- High ongoing APR
- Updated FICO credit scores: You can get FICO® credit score, key factors, and other credit information on Discover.com and your statement.
- Data privacy: Remove personal information from selected people-search sites that may sell your data.
- Freeze it®: Freeze your account within seconds in the event you have misplaced your physical card
Discover it® Secured Credit Card is a personal secured credit card that offers 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, then you’ll earn 1% cash back when the maximum amount is reached. You can also earn an unlimited dollar-to-dollar match of all the cash back you earn at the end of your first year as a welcome offer. It has a $0 annual fee, and you only need to make a security deposit of at least $200 to qualify.
Ramp Credit Card
Ramp Credit Card
BEST FOR:
Those who are using Ramp as their main financial management tool
- Up to 1.5% cash back on purchases, regardless of spending categories
Pros
- Offers rewards for cardholders
- Does not charge additional fees
- Offers direct integrations to notable accounting tasks
Cons
- Requires paying balances in full each month
- Is unavailable to sole proprietors and unincorporated businesses
- Travel and emergency assistance services: Call the Benefit Administrator at (800) 397-9010 if you are in the United States or (303) 967-1093 if you are outside of the US if you need emergency assistance.
- Purchase security: Receive a maximum of $10,000 per claim and $50,000 per cardholder in cases of theft or damage to purchases made with your card.
- Auto rental collision damage waiver: When using this card for renting a car, you can be reimbursed for damages caused by theft or collision up to the Actual Cash Value of most rented cars. Note that rental periods of 31 consecutive days are covered.
- Extended warranty protection: Extend warranties for eligible purchases made with your covered account and/or rewards programs associated with your account.
- Up to 1.5% cash back on purchases, regardless of spending categories
Pros
- Offers rewards for cardholders
- Does not charge additional fees
- Offers direct integrations to notable accounting tasks
Cons
- Requires paying balances in full each month
- Is unavailable to sole proprietors and unincorporated businesses
- Travel and emergency assistance services: Call the Benefit Administrator at (800) 397-9010 if you are in the United States or (303) 967-1093 if you are outside of the US if you need emergency assistance.
- Purchase security: Receive a maximum of $10,000 per claim and $50,000 per cardholder in cases of theft or damage to purchases made with your card.
- Auto rental collision damage waiver: When using this card for renting a car, you can be reimbursed for damages caused by theft or collision up to the Actual Cash Value of most rented cars. Note that rental periods of 31 consecutive days are covered.
- Extended warranty protection: Extend warranties for eligible purchases made with your covered account and/or rewards programs associated with your account.
If your primary intention is to build business credit, Ramp Credit Card is a great choice. It doesn’t perform a personal credit check, nor does it require a personal guarantee as a part of the approval process. What’s more, you can earn 1.5% cash back on purchases with no caps or category restrictions. To qualify, you need to be an incorporated company and have at least a $25,000 cash deposit in a bank account that will be connected to Ramp. This is a charge card, though, so your balance is due in full every month.
Frequently Asked Questions (FAQs)
Mastercard Easy Savings® is an automatic rebate program offered by Mastercard to eligible business cardholders. With FNBO’s Mastercard Easy Savings® program, you will receive rebates on your purchases at over 40,000 merchants.
If you need to make a rush payment that must be credited to your account within the same day, you can pay online until 11:59 p.m. Central time. You may also call the phone number listed on your billing statement or credit card before 5 p.m. CT, Mondays through Fridays.
Your credit limit will vary depending on your security deposit. FNBO Business Edition® Secured Mastercard® offers credit limits ranging from $2,000 to $100,000—one of the highest limits you can get from a secured business credit card. The bank requires you to make a security deposit equivalent to 110% of your requested credit limit. For example, if you want to have a credit limit of $100,000, your security deposit should be at least $110,000.
Bottom Line
First National Bank of Omaha Business Edition® Secured Mastercard® is a great secured business credit card if you’re looking to rebuild or establish your credit. It offers a credit limit of up to $10,000, but you need to make a security deposit of at least 110% of your requested credit limit. To help improve your credit score, make sure to use the card responsibly and pay your balance on time.
