First National Bank of Omaha Business Edition® Secured Mastercard® Review for 2023
This article is part of a larger series on Best Small Business Credit Cards.
First National Bank of Omaha (FNBO) Business Edition® Secured Mastercard® is a secured business credit card that is best for small business owners needing to improve or establish their credit score—they only need a credit score between 300 and 719 to be eligible. It should be noted, however, that while FNBO doesn’t have any existing rewards for its new and existing cardholders, the Mastercard Easy Savings® program will help you save on purchases with automatic rebates.
If you wish to compare one 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
Intro APR
None
Regular APR
25.49% Variable
Annual Fee
$39
Credit Needed
Very Poor to Good
- 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 between $2,000 and $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.
Intro APR
None
Regular APR
25.49% Variable
Annual Fee
$39
Credit Needed
Very Poor to Good
- 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 between $2,000 and $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 |
Ongoing APR | 20 | 25 |
Ongoing Rewards | 0 | 10 |
Introductory Rewards | 0 | 10 |
Security Deposit | 5 | 10 |
Other Fees | 8 | 10 |
Introductory APR | 0 | 5 |
Additional Features | 3 | 5 |
Total Score | 56 | 100 |
Who the First National Bank of Omaha Business Edition® Secured Mastercard® Is Best For
- Those who need to rebuild their credit: Business owners with bad credit history may want to consider getting this credit card to help regain their credit standing and eventually apply for other unsecured small business credit cards.
- Those who want to establish their credit: Business owners who are starting out and need to establish their business credit may want to consider this card, as it welcomes those with poor to fair credit.
Check out our recommended alternatives below if this card doesn’t fit the bill.
First National Bank of Omaha Business Edition® Secured Mastercard® Fees
APR
- Introductory: None
- Ongoing and balance transfers: 25.49% variable—adjusts with the prime rate
- Cash advance: 30.24% variable—adjusts with the prime rate
Specific Fees
- Minimum interest charge: No less than $1.75
- Annual: $39
- Security deposit: 110% of the amount of your credit limit, which can be between $2,200 and $110,000 (multiples of $50)
- Monthly: None
- Balance transfer: Either $10 or 5% of the amount of each transfer, whichever is greater
- Cash advance and cash equivalent transaction: Either $15 or 5% of the amount of each cash advance/cash equivalent transaction, whichever is greater
- Foreign transaction: 3% of each transaction in US dollars
- 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.
How To Make Payments on the First National Bank of Omaha Business Edition® Secured Mastercard®
- 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. Central time. If the payment was made after 5 p.m. but before 11:59 p.m. CT, 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. Central time, 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® Credit Rewards
While FNBO doesn’t offer any rewards, First National Bank of Omaha Business Edition® Secured Mastercard® cardholders can save on purchases with automatic rebates from more than 40,000 participating merchant locations with Mastercard Easy Savings®.
First National Bank of Omaha Business Edition® Secured Mastercard® Features
- Digital payments: Your card can be used as a digital wallet, saving you time as you won’t have to insert your card manually or keep inputting account information.
- Free management reports: FNBO 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.
- TurboTax discount: Get a discount of up to $20 on TurboTax federal products using this card.
- 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.
First National Bank of Omaha Business Edition® Secured Mastercard® Alternatives
Discover it® Secured Credit Card
Discover it® Secured
BEST FOR:
Business owners who need help rebuilding credit
Intro APR
N/A
Regular APR
27.99% variable
Annual Fee
$0
Credit Needed
N/A
- No annual fee, 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
- Does not charge annual fees
- Offers automatic monthly account review
Cons
- No 0% 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
Intro APR
N/A
Regular APR
27.99% variable
Annual Fee
$0
Credit Needed
N/A
- No annual fee, 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
- Does not charge annual fees
- Offers automatic monthly account review
Cons
- No 0% 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
- Is a viable alternative secured personal credit card for those who need rewards, as it lets you earn 2% on gas stations and restaurants for the first $1,000, then 1% if the cap is met
- Requires a security deposit between $200 and $2,500
- Does not offer 0% introductory APR
- Is one of our:
Emburse Spend Card
- Is a great option for those wanting a business prepaid card with rewards
- Offers unlimited 1% cash back on all purchases
- Does not charge fees for domestic transactions and adding virtual and physical cards
- Lets you deposit up to a maximum of $100,000
- Is in our lists of the:
Capital One® Spark® Classic for Business
Capital One® Spark® Classic for Business
BEST FOR:
Those with fair credit
Intro APR
N/A
Regular APR
30.49% variable
Annual Fee
$0
Credit Needed
Fair
- 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 sign-up bonus
- 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.
Intro APR
N/A
Regular APR
30.49% variable
Annual Fee
$0
Credit Needed
Fair
- 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 sign-up bonus
- 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.
- Is best suited if you have fair credit and do not want annual, balance transfer, and foreign transaction fees
- Lacks 0% introductory APR for purchases and balance transfers
- Lets you earn unlimited 1% cash back on all purchases, with no minimum to redeem
- Is in our roundup of the:
For more options, see our guide on the best small business credit cards.
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. You can set your credit limit, but a security deposit of 110% of the amount of your credit limit (minimum of $2,200) is required. Note that it does not offer rewards for new and existing cardholders.
