6 Best Business Credit Cards for Fair Credit in 2022
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Andrée Kirk is a Staff Writer at Fit Small Business, specializing in Small Business Banking and Credit Cards.
This article is part of a larger series on Best Small Business Credit Cards.
Editor’s note: This is a recurring post with regularly updated card details.
When you have a fair credit rating and you’re searching for a business credit card, it’s a good idea to consider what you’ll use the card for, what spend limit you’ll need, and if you plan to carry a balance with each billing cycle. The best credit cards for fair credit have low fees, payment alerts/reminders, fraud protection, and report to the major credit bureaus to help grow your credit score.
Here are the six best business credit cards for fair credit:
- Capital One® Spark® Classic for Business: Best overall business credit card for fair credit
- Wells Fargo Business Secured Credit Card: Best secured card for earning rewards
- Business Edition Secured Visa Credit Card: Best secured card with a high limit
- Amazon Store Card: Best for recurring Amazon purchases
- OpenSky® Secured Visa® Credit Card: Best personal credit card for fair credit
- Bento for Business Visa Debit Card: Best debit card for fair credit
Do you want to compare the features of one card to another? We’ve made it easy for you to do just that. Check off up to three cards on this page to add them to your cart. This will allow you to view the details in a side-by-side comparison.
Capital One® Spark® Classic for Business: Best Overall Business Credit Card for Fair Credit
Capital One® Spark® Classic for Business
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Fair credit business owners (580 to 669)
Intro APR
N/A
Regular APR
26.99% (Variable)
Annual Fee
$0
Credit Needed
Average, Fair, Limited
- 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
- No annual fee
Cons
- No 0% introductory APR
- No sign-up bonus
- High APR
- 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 1 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.
Intro APR
N/A
Regular APR
26.99% (Variable)
Annual Fee
$0
Credit Needed
Average, Fair, Limited
- 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
- No annual fee
Cons
- No 0% introductory APR
- No sign-up bonus
- High APR
- 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 1 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: The Capital One® Spark® Classic for Business is our top choice for a fair credit business card. If you’re a new business owner and need help building credit, this card can help. Your payment history will be regularly reported to the major credit bureaus, which will be a major factor in growing your score.
With this card, you get an unlimited 1% cash back on all business purchases with no limit to the amount of rewards you can earn. Plus, this card has no annual fee. It does have a high interest rate of 26.99%, so it’s important to plan your budget so that you can pay the bill in full each billing cycle rather than carrying a balance. It’s our top choice for the best easy approval business credit cards.
Wells Fargo Business Secured Credit Card: Best Secured Card for Earning Rewards
Wells Fargo Business Secured Credit Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Business owners with poor credit
Intro APR
N/A
Regular APR
Prime + 11.90% on purchases
Annual Fee
None
Credit Needed
N/A
- 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.
Intro APR
N/A
Regular APR
Prime + 11.90% on purchases
Annual Fee
None
Credit Needed
N/A
- 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: Few secured business credit cards offer rewards, which is why the Wells Fargo Business Secured Credit Card is so valuable. You can select between earning 1.5% cash back or 1 point for every $1 spent on all qualifying business purchases. If you select cash back, you can opt to receive it automatically either as a credit to your account or checking or savings account each quarter―March, June, September, and December.
Keep up to $25,000 in a Wells Fargo business checking or savings account as your refundable deposit and your credit limit—and there’s no annual fee. This card doesn’t report to either personal or business credit bureaus, but over time, Wells Fargo will review your account to see if you qualify for an unsecured Wells Fargo credit card.
Business Edition® Secured® Visa Credit Card: Best Secured Card with a High Limit
First National Bank of Omaha Business Edition Secured Visa Card
BEST FOR:
Secured credit lines of as much as $100,000
Intro APR
None
Regular APR
20.49% Variable
Annual Fee
$39
Credit Needed
N/A
- Request your own credit limit between $2,000 and $100,000―multiples of $50―when you apply, subject to credit approval.
- Security deposit is 110% of the amount of your credit limit, between $2,200 and $110,000―multiples of $50―subject to credit approval.
- $39 annual fee
- Earn interest on your security deposit.
- Variable 19.99% APR on purchases and balance transfers based on the prime rate.
- Get automatic rebates with Visa SavingsEdge® on purchases that you make at qualified merchants.
- US citizenship is not required, but you must have a valid Social Security number or individual taxpayer identification number (TIN) and a valid US address.
- Online access to view transactions, pay your bill, view up to seven years of prior statements, and more.
Pros
- Accepts a wide range of credit scores
- You can set your own credit limit
- Offers user-friendly management reports
- You’ll earn 0.05% annual percentage yield (APY) on your security deposit account balance
Cons
- Requires an annual fee
- Charges a foreign transaction fee
- Doesn’t offer rewards
- Automatic discounts: Good on purchases you make at qualified merchants. Rebates will be applied as statement credits.
- Visa Zero Liability: It covers you when fraudulent charges are made with either your card or your account information.
- Free management reports: Be able to track your expenses and spending, identify tax deductions, prepare tax filings, and predict costs with ease
Intro APR
None
Regular APR
20.49% Variable
Annual Fee
$39
Credit Needed
N/A
- Request your own credit limit between $2,000 and $100,000―multiples of $50―when you apply, subject to credit approval.
- Security deposit is 110% of the amount of your credit limit, between $2,200 and $110,000―multiples of $50―subject to credit approval.
- $39 annual fee
- Earn interest on your security deposit.
- Variable 19.99% APR on purchases and balance transfers based on the prime rate.
- Get automatic rebates with Visa SavingsEdge® on purchases that you make at qualified merchants.
- US citizenship is not required, but you must have a valid Social Security number or individual taxpayer identification number (TIN) and a valid US address.
- Online access to view transactions, pay your bill, view up to seven years of prior statements, and more.
Pros
- Accepts a wide range of credit scores
- You can set your own credit limit
- Offers user-friendly management reports
- You’ll earn 0.05% annual percentage yield (APY) on your security deposit account balance
Cons
- Requires an annual fee
- Charges a foreign transaction fee
- Doesn’t offer rewards
- Automatic discounts: Good on purchases you make at qualified merchants. Rebates will be applied as statement credits.
- Visa Zero Liability: It covers you when fraudulent charges are made with either your card or your account information.
- Free management reports: Be able to track your expenses and spending, identify tax deductions, prepare tax filings, and predict costs with ease
Why we like it: When you have significant cash on hand and limited credit history, the Business Edition® Secured® Visa is a rare card that can help you achieve your business goals. You can request your credit limit between $2,000 and $100,000, subject to credit approval. A security deposit of 110% of your credit limit is required in a First National Bank Savings account.
You pay only a low $39 annual fee. Plus, if you maintain a minimum of $2,000 in your savings account, you can earn interest on your security deposit.
Amazon Store Card: Best for Recurring Amazon Purchases
BEST FOR:
Earning rewards on Amazon purchases through Amazon Prime membership
Amazon Prime Rewards Visa Signature Card
Intro APR
N/A
Regular APR
15.74% - 23.74% Variable
Annual Fee
None
Credit Needed
Good - Excellent
Pros
Cons
Intro APR
N/A
Regular APR
15.74% - 23.74% Variable
Annual Fee
None
Credit Needed
Good - Excellent
Pros
Cons
Why we like it: If your small business frequently shops at Amazon, you can benefit from the Amazon Store Card online at Amazon Business, Amazon.com, Amazon Go, and other Amazon-affiliated stores. Enjoy no annual fee and receive a $60 Amazon gift card―as of January 2022―upon approval. You can also use the card to pay for an Amazon Business Prime membership at $69 per year and receive 5% cash back with every purchase.
There are two different pay-over-time options at a 0% annual percentage rate (APR): equal monthly payments or special financing. Keep in mind that if you use any of the pay-over-time options, you won’t be eligible to receive 5% cash back if you become a Prime member.
Equal monthly payments:
- Six equal monthly payments on purchases of $150 or more
- 12 equal monthly payments on purchases of $600 or more
- 24 equal monthly payments available on select purchases of $600 or more
Special financing:
- Six months on purchases of $150 or more (pay in full at the end of 6 months)
- 12 months on purchases of $600 or more (pay in full at the end of 12 months)
- 24 months on select purchases of $800 or more (pay in full at the end of 24 months)
OpenSky® Secured Visa® Credit Card: Best Personal Credit Card for Fair Credit
OpenSky® Secured Visa® Credit Card
BEST FOR:
Business owners with a credit score below 580
Intro APR
N/A
Regular APR
17.64% Variable
Annual Fee
$35
Credit Needed
No Credit Check
- No credit check needed to apply—OpenSky® won’t pull your credit so there’s no impact on your credit score.
- You can set your own credit limit by making a refundable deposit ranging from $200 to $3,000.
- OpenSky® reports your activities to credit bureaus including Equifax®, Experian® and TransUnion® to help you build or improve your credit score.
Pros
- No credit check required
- Helps build credit
- Low annual fee
Cons
- No introductory APR
- No rewards
- Requires security deposit
- Email alerts: Set up email alerts as a reminder to make a payment, or when you almost use up your credit limit.
- Automatic payments: You can set up recurring automatic payments to ensure your card is paid on time.
- All benefits of a Visa®: This card comes with all the benefits of a Visa® credit card, including worldwide acceptance and fraud protection.
Intro APR
N/A
Regular APR
17.64% Variable
Annual Fee
$35
Credit Needed
No Credit Check
- No credit check needed to apply—OpenSky® won’t pull your credit so there’s no impact on your credit score.
- You can set your own credit limit by making a refundable deposit ranging from $200 to $3,000.
- OpenSky® reports your activities to credit bureaus including Equifax®, Experian® and TransUnion® to help you build or improve your credit score.
Pros
- No credit check required
- Helps build credit
- Low annual fee
Cons
- No introductory APR
- No rewards
- Requires security deposit
- Email alerts: Set up email alerts as a reminder to make a payment, or when you almost use up your credit limit.
- Automatic payments: You can set up recurring automatic payments to ensure your card is paid on time.
- All benefits of a Visa®: This card comes with all the benefits of a Visa® credit card, including worldwide acceptance and fraud protection.
Why we like it: If you’re repairing your credit, the OpenSky® Secured Visa® Credit Card is a personal credit card you can still use for business purchases, with a low annual fee of just $35. Remember that it’s important to keep business and personal finances separate, to make it easier to track your expenses and make tax season easier.
As with most secured cards, you’ll need to provide a refundable cash deposit, which will be your credit limit. The limit for this card ranges from $200 to $3,000, subject to approval.
OpenSky won’t perform a credit check during the application process. However, it does report to the major credit bureaus, so as you make your payments on time, you can grow your credit score.
Bento for Business Visa Debit Card: Best Debit Card for Fair Credit
Bento for Business Visa® Debit Card
BEST FOR:
Managing employee expenses without a credit check to qualify
Number Of Cards
Unlimited
Monthly Cost
$29-149 monthly
Daily Load Limit
None
Daily Spend Limit
$25,000
- Instant decision
- No credit check required
- One-click card controls and expense reports
Pros
- Get the first two cards for free
- Manage employee expenses easily
- Additional card features and purchase protections
Cons
- Large fees for more than two cards
- Deposited funds are required
- Won’t help build business or personal credit
- Auto rental collision damage waiver: Use this card to pay for your entire auto rental transaction and get collision coverage for a damaged or stolen rental vehicle, up to the value of the vehicle.
- Purchase protection: Purchases are covered up to 90 days for damage and theft, up to $10,000 per claim, $50,000 per year.
Number Of Cards
Unlimited
Monthly Cost
$29-149 monthly
Daily Load Limit
None
Daily Spend Limit
$25,000
- Instant decision
- No credit check required
- One-click card controls and expense reports
Pros
- Get the first two cards for free
- Manage employee expenses easily
- Additional card features and purchase protections
Cons
- Large fees for more than two cards
- Deposited funds are required
- Won’t help build business or personal credit
- Auto rental collision damage waiver: Use this card to pay for your entire auto rental transaction and get collision coverage for a damaged or stolen rental vehicle, up to the value of the vehicle.
- Purchase protection: Purchases are covered up to 90 days for damage and theft, up to $10,000 per claim, $50,000 per year.
Why we like it: Although this is a debit card, you get a lot of card management options with your Bento for Business Visa Debit Card. It comes with accounting integration, analytics and reporting, receipt capture, invoice payments, and spend controls. Transfer funds from any account to your Bento account, then use your Bento card like a debit card, which will pull funds directly from your Bento account.
The application process doesn’t include a credit check, so your credit rating isn’t considered for approval. It’s free for the first 60 days, then $29 per month for up to 10 cards, $69 per month for up to 25 cards, and $149 per month for up to 100 cards.
How We Evaluated the Best Small Business Credit Cards for Fair Credit
We looked at cards that help grow your credit score and have a low annual fee or no annual fee. We also looked at interest rates, whether they report to the credit bureaus, rewards, and other perks and benefits.
Bottom Line
Once you’re approved, be sure to take advantage of free online and mobile banking to track your expenditures and create alerts and reminders to pay your credit card bill. As you make consistent on-time payments to your credit card, your credit score will grow, and you’ll be eligible for a wider variety of cards with richer rewards and benefits. For a preview, check out our list of the best small business credit cards.
