5 Best Business Credit Cards for Fair Credit for 2023
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.
Benilyn has over a decade of experience as a banking officer. Her expertise is featured throughout Fit Small Business in personal finance, credit card, and real estate investing content.
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.
The best small business credit cards for fair credit have low fees and offer features that may be beneficial to your business. Those that offer ongoing rewards are a plus. To find the one that suits your business, consider your regular expenses, the credit limit you’ll need, and whether you prefer to earn rewards on purchases. Our list includes a regular business card, secured business cards, debit and prepaid cards, and a co-branded fuel card.
Here are the five best business credit cards for business owners with fair credit:
- Capital One Spark Classic for Business: Best overall business credit card for fair credit with unlimited 1% cash back
- First National Bank of Omaha Business Edition Secured Mastercard: Best secured card with a high credit limit
- Emburse Spend Card: Best prepaid card with no personal credit check and unlimited 1% cash back
- Bento for Business Visa Debit Card: Best debit card with no personal guarantee
- BP Business Solutions Fuel Plus: Best for fuel expenses and businesses with fleets
To see how these cards stack up against others we have reviewed on our site, simply click Add to Compare on a card below and select up to two additional cards for comparison.
Capital One® Spark® Classic for Business: Best Overall Business Credit Card for Fair Credit With Unlimited 1% Cash Back
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:
Those with fair credit
Intro APR
N/A
Regular APR
29.99% (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
29.99% (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.
Why we like it: The Capital One® Spark® Classic for Business is our best fair credit business card because it’s the only regular unsecured business credit card on this list that can be used for making purchases at any merchant. Since Capital One will report your payment history to the major credit bureaus regularly, you can build and strengthen your credit by making consistent on-time payments.
What’s more, it has no annual fee and comes with unlimited cash back rewards. Earn unlimited 1% cash back on all business purchases and unlimited 5% cash back on hotels and rental cars booked through Capital One Travel. It’s also one of our leading credit cards with instant approval because of its lenient credit requirement.
Pay your balance in full each month:
It’s worth noting that the card comes with a high interest rate, which means carrying a balance can be very costly. It’s important to plan your budget carefully so that you can pay your bill in full each billing cycle.
First National Bank of Omaha Business Edition® Secured® Mastercard®: Best Secured Card With a High Credit Limit
First National Bank of Omaha Business Edition® Secured Mastercard® 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:
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.
Why we like it: When you have significant cash on hand, limited credit history, and substantial expenses, the First National Bank of Omaha Business Edition® Secured® Mastercard® credit card may be a good fit. You can request a credit limit of anywhere from $2,000 to $100,000 (in multiples of 50), subject to credit approval. A security deposit of 110% of your credit limit is required in a First National Bank of Omaha savings account.
Due to its high credit limit option, it’s named one of our best high-limit business credit cards. It has a low annual fee of $39; however, it lacks ongoing rewards. Nonetheless, if your goal is to have a business credit card that can help you build your credit score, it’s one of the best options available.
Earn interest on your security deposit:
Unlike most other secured business credit cards, First National Bank of Omaha lets you earn interest on your security deposit. The interest is paid on the entire account balance based on the current annual percentage yield offered by the bank.
Emburse Spend Card: Best Prepaid Card With No Personal Credit Check & Unlimited 1% Cash Back
Why we like it: Emburse Spend card is a prepaid business card that doesn’t require a personal credit check and offers unlimited 1% cash back on all purchases. Moreover, it doesn’t charge annual or monthly fees, and you can request virtual and physical employee cards at no cost. It’s recommended for startups that prefer a card for everyday expenses but don’t want any personal credit checks, making it one of our leading business cards for startups.
It has a default $100,000 load limit, but you can request an increase with additional review. Plus, you can monitor your transactions in real time through its streamlined software. It’s important to note that since this is a prepaid card, you cannot use it to build business credit. Also, there’s no sign-up bonus, and you cannot use it to withdraw from the ATMs. For more information, read our Emburse Spend Card review.
Take advantage of Emburse Card’s expense management system:
With Emburse Spend’s system, you can track your expenses, categorize vendors, approve or reject transactions, and prevent policy violations. Plus, it integrates with NetSuite, Intacct, QuickBooks Online, and Xero.
Bento for Business Visa Debit Card: Best Debit Card With No Personal Guarantee
Why we like it: If you don’t want to provide a personal guarantee for a business card, the Bento for Business Visa Debit Card is an excellent option. It’s one of our best business cards with no personal guarantee. For the first 60 days, you can use it for free, then you have to pay a monthly fee—$29 for up to 10 cards, $69 for up to 25 cards, or $149 for up to 100 cards.
Although it isn’t a credit card, it comes with a lot of card management options. It includes accounting integration, analytics and reporting, receipt capture, invoice payments, and spend controls. Similar to Emburse Spend Card, the application process for Bento excludes a credit check, so your credit rating isn’t considered for approval, meaning you may qualify for this debit card even if you have poor or bad credit. However, it also doesn’t help build your business credit.
Load your card easily:
You can transfer funds easily to your Bento account from any account, which is what will be deducted as you use this debit card. Deposits via Bento are limited to a maximum of $10,000 per day. However, there’s no limit through standard ACH or wire transfers.
BP Business Solutions Fuel Plus: Best for Fuel Expenses & Businesses With Fleets
BP Business Solutions Fuel Plus
BEST FOR:
Small to Midsized Fleets That Fuel Up at BP & Amoco Stations
Intro APR
N/A
Regular APR
WSJ Prime Rate + 14.99% to 23.99%
Annual Fee
None. Monthly membership fee is $10, waived for each month you purchase over 5,000 gallons of fuel
Credit Needed
Poor, Good
- Up to 6 cents with volume-based rebates fuel purchases made at participating BP or Amoco branded locations in the US.
Pros
- Rebates on gas purchases at BP or Amoco branded locations in the US
- Tax exempt reporting
- Revolving and nonrevolving options available
Cons
- High APR
- High monthly fee
- Exclusive for use at BP or Amoco branded locations only
- Tax-exempt reporting
- Set card controls and purchase restrictions
- Online account manager
Intro APR
N/A
Regular APR
WSJ Prime Rate + 14.99% to 23.99%
Annual Fee
None. Monthly membership fee is $10, waived for each month you purchase over 5,000 gallons of fuel
Credit Needed
Poor, Good
- Up to 6 cents with volume-based rebates fuel purchases made at participating BP or Amoco branded locations in the US.
Pros
- Rebates on gas purchases at BP or Amoco branded locations in the US
- Tax exempt reporting
- Revolving and nonrevolving options available
Cons
- High APR
- High monthly fee
- Exclusive for use at BP or Amoco branded locations only
- Tax-exempt reporting
- Set card controls and purchase restrictions
- Online account manager
Why we like it: If you’re looking for a business credit card to pay for your significant fuel expenses, consider the BP Business Solutions Fuel Plus card. It’s designed for businesses with small and mid-sized fleets that gas up at BP and Amoco gas stations, allowing cardholders to earn rebates of up to 7 cents based on the volume of fuel they purchase. It’s also one of our leading small business fuel cards.
Your transactions may be reported to the major credit bureaus, helping you improve your credit when you use your card responsibly. Plus, you can take control of your business expenses by setting fuel-only limits on employee cards. It also offers transaction and tax-exempt reporting.
Designed for use at BP- and Amoco-branded merchants only:
Since this card isn’t affiliated with Visa or Mastercard, you cannot use it to make purchases everywhere. You can only use the card at BP- and Amoco-branded locations in the US.
How We Selected the Best Small Business Credit Cards for Fair Credit
In choosing the best small business cards for fair credit, we looked at cards that have a low or no annual fee and offer features that your small business may find valuable. We also took into account their interest rates, introductory and ongoing rewards, and other features and benefits, as well as whether they report to the credit bureaus and help grow your credit score.
Bottom Line
When you have a fair credit score, some business credit cards can help improve your credit if you use them responsibly and pay your bills on time. After approval, take advantage of free online and mobile banking to track your expenditures and create reminders to pay your credit card bill. Once your credit score improves, you’ll be eligible for a wider variety of cards with richer rewards and benefits. For more options, check out our list of the best small business credit cards.
Is it your first time applying for a business credit card? Learn about the process of applying for a business credit card by reading our guide on how to get a business credit card.
