6 Best Business Credit Cards for Fair Credit in 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 report to the major credit bureaus to help grow your credit score. 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 plan to carry a balance each billing cycle.
Here are the six best business credit cards for business owners with fair credit:
- Capital One Spark Classic for Business: Best overall business credit card for fair credit
- Bank of America Business Advantage Unlimited Cash Rewards Secured: Best secured card for earning rewards
- First National Bank of Omaha Business Edition Secured Mastercard: Best secured card with a high credit limit
- Union Bank Business Secured Visa: Best for low annual percentage rate (APR)
- BP Business Solutions Fuel Plus: Best for fuel expenses and businesses with fleets
- Bento for Business Visa Debit Card: Best debit card with no personal guarantee
See how these cards stack up against others we reviewed on our site by clicking Add to Compare on a card below and choosing up to two additional cards for comparison.
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
29.74% (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
29.74% (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.
Business Advantage Unlimited Cash Rewards Secured Credit Card
BEST FOR:
Those who cannot qualify for unsecured business credit cards
Intro APR
None
Regular APR
26.49%
Annual Fee
None
Credit Needed
Poor
- Earn unlimited 1.5% cash back on all purchases
Pros
- No annual fee
- Unlimited rewards
- Builds business credit
Cons
- Security deposit is required
- No sign-up bonus
- No 0% Intro APR
- Cash flow management tools
- Travel and emergency services
- Online and mobile access
- Balance Connect™ for overdraft protection
- Zero liability protection
Intro APR
None
Regular APR
26.49%
Annual Fee
None
Credit Needed
Poor
- Earn unlimited 1.5% cash back on all purchases
Pros
- No annual fee
- Unlimited rewards
- Builds business credit
Cons
- Security deposit is required
- No sign-up bonus
- No 0% Intro APR
- Cash flow management tools
- Travel and emergency services
- Online and mobile access
- Balance Connect™ for overdraft protection
- Zero liability protection
First National Bank of Omaha Business Edition Secured Mastercard® Credit Card
BEST FOR:
Secured credit lines of as much as $100,000
Intro APR
None
Regular APR
23.99% 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.
- United States citizenship isn’t 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
23.99% 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.
- United States citizenship isn’t 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
Union Bank® Business Secured Visa® Credit Card
BEST FOR:
Low annual percentage rate (APR)
Intro APR
16.99%
Regular APR
16.24% variable for purchases and balance transfers
Annual Fee
$30
Credit Needed
Bad to Excellent
- Grow your company with a secured credit limit of up to $25,000.
- With a low $30 annual fee, keep your company’s money at work where it matters most.
Pros
- Low annual fee
- Owners with bad credit can apply
- Fixed ongoing APR
Cons
- With security deposit
- No interest-free financing option
- No rewards for new and existing cardholders
- High balance transfer and cash advance fees
- Mobile access: Enjoy 24/7 access to mobile site to allow you to access your account wherever and whenever safely and securely
- Swipe smarter: This card features advanced technology for enhanced safety and protection against fraud
- Customized account alerts: Tailor your banking experience to include customized account alerts keeping you updated and informed
- Auto rental collision damage: You’re covered for damage due to collision or theft
- Zero fraud liability: You won’t be held responsible for unauthorized charges made with your account or account information
Intro APR
16.99%
Regular APR
16.24% variable for purchases and balance transfers
Annual Fee
$30
Credit Needed
Bad to Excellent
- Grow your company with a secured credit limit of up to $25,000.
- With a low $30 annual fee, keep your company’s money at work where it matters most.
Pros
- Low annual fee
- Owners with bad credit can apply
- Fixed ongoing APR
Cons
- With security deposit
- No interest-free financing option
- No rewards for new and existing cardholders
- High balance transfer and cash advance fees
- Mobile access: Enjoy 24/7 access to mobile site to allow you to access your account wherever and whenever safely and securely
- Swipe smarter: This card features advanced technology for enhanced safety and protection against fraud
- Customized account alerts: Tailor your banking experience to include customized account alerts keeping you updated and informed
- Auto rental collision damage: You’re covered for damage due to collision or theft
- Zero fraud liability: You won’t be held responsible for unauthorized charges made with your account or account information
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
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.
Capital One® Spark® Classic for Business: Best Overall Business Credit Card for Fair Credit
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. You can build and strengthen credit by making consistent on-time payments. Also, Capital One will report your payment history to the major credit bureaus regularly, which is a major factor in growing your score.
This card 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 it has a high interest rate of 26.99%, which means carrying a balance can be very costly. It’s important to plan your budget carefully so that you can pay the bill in full each billing cycle.
Bank of America® Business Advantage Unlimited Cash Rewards Secured: Best Secured Card for Earning Rewards
Why we like it: Bank of America® Business Advantage Unlimited Cash Rewards Secured offers unlimited 1.5% cash back on all purchases. Plus, it has no annual fee, reducing your overall credit costs. Since it’s a secured credit card, it requires a security deposit of at least $1,000. The amount of your security deposit will determine your credit limit.
You can redeem your rewards as a deposit into your Bank of America® checking or savings account, a card statement credit, or a check mailed to you. There’s no maximum limit on the number of rewards you can earn, and your cash rewards don’t expire.
Build credit when you make consistent on-time payments:
When you use this card responsibly, you can build your business credit over time so that you can qualify for unsecured business credit cards. It’s also our top choice for the best secured business credit cards and leading business cards for bad credit.
First National Bank of Omaha Business Edition® Secured® Mastercard®: Best Secured Card With a High Credit Limit
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 ranked as 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.
Union Bank® Business Secured Visa® Credit Card: Best for Low APR
Why we like it: The Union Bank® Business Secured Visa® Credit Card offers the lowest APR among all the cards on this list, making it an excellent option for business owners who plan to carry a balance from time to time. It also comes with a low annual fee of $30, and you can choose a credit limit of anywhere from $500 to $25,000, based on the amount of your security deposit.
With Visa SavingsEdge®, you can enjoy automatic discounts on eligible purchases at participating merchants. Union Bank may report your account information to credit bureaus, and that includes late payments, missed payments, and other defaults—so ensure you use your card responsibly and make on-time payments to improve your credit rating.
Business owners with poor or bad credit may still qualify:
You may qualify for this card even with poor or bad credit, making it one of our top-recommended credit cards for bad credit.
BP Business Solutions Fuel Plus: Best for Fuel Expenses & Businesses With Fleets
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 6 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 anywhere. You can use the card at BP- and Amoco-branded locations in the US only.
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, and $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. You can transfer funds to your Bento account from any account easily, which is what will be deducted as you use this debit card.
No credit check needed to apply:
The application process excludes a credit check, so your credit rating isn’t considered for approval. You may qualify for this card even if you have poor or bad credit.
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 help grow your credit score and have a low or no annual fee. 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.
Bottom Line
When you have a fair credit score, a business credit card can help improve your credit if you use it 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, visit our Credit Card Marketplace and check out our list of the best small business credit cards.
