It can be difficult to secure business financing if your credit isn’t good, but a handful of small business credit cards for fair credit offer competitive APRs, low or no annual fees, and even rewards programs. We compared business credit cards to identify the five cards best for owners with a credit score under 670.
Top 5 Small Business Credit Cards for Fair Credit 2019
| Capital One Spark Classic for Business | (Best Overall) Building credit with an unsecured small business credit card |
| Wells Fargo Business Secured Card | Firms that can’t qualify for an unsecured credit card |
| BBVA Compass Business Rewards Credit Card | Businesses in the Sunbelt region wanting an unsecured card |
| Bento for Business Prepaid Card | Controlling employee spending without a credit check |
| Capital One QuicksilverOne Rewards Cash Rewards Credit Card | Owners who want an alternative personal credit card option for fair credit |
Search and compare all business credit cards to find the right match for you and your business.
How We Evaluated Small Business Credit Cards for Fair Credit
Many of the business credit cards for fair credit available to owners with credit scores between 580 and 669 charge high fees and APRs approaching 30 percent or higher. We searched for business credit card offers that give owners a fair shake on fees and interest, with similar rewards and benefits featured on cards that require good credit.
After eliminating credit cards available to owners with credit scores between 670 (good credit) and 850 (the highest possible credit score), we considered the following criteria:
- Fees – Monthly and/or annual charges assessed on a small business credit card. The best small business credit cards for fair credit charge low or no annual fees.
- APR – The interest rate charged if you don’t pay off your bill in full each month. Look for a card that assesses APRs of 25 percent or less.
- Rewards – Points or cash back earned by using your business credit card. Fair credit business cards should offer at least 1 percent back.
- Additional Features – Benefits offered to cardholders, like extended warranties and free auto insurance on car rentals. They all also report your spending and payment history to credit bureaus, which could help improve your credit score.
After assessing the top qualities owners without perfect credit should look for in a card, we rank the Capital One Spark Classic for Business as the overall best business credit card for fair credit. Spark Classic is the only nationally available business credit card on our list that charges no monthly or annual fees. It offers average rewards of 1 percent compared with other cards, and its APR ticks in just below 25 percent. It also offers several benefits, like purchase protection, that other cards don’t include.
Capital One Spark Classic for Business: Best Overall Business Card for Fair Credit
Choose Capital One Spark Classic for Business if you need to build both your personal and business credit and you know you will pay your bill in full each month and can take advantage of ongoing rewards. It charges no monthly or annual fees—a claim not all of the cards on this list can make—and comes with a variable APR of 24.74 percent, which is about average for a business credit card for fair credit.
Capital One Spark Classic Costs
Financing costs and fees on the Capital One Spark Classic for Business include:
- APR: Ongoing APR is a variable 24.74 percent, which will move with the prime rate; there is no introductory offer on purchases or balance transfers
- Fees: Up to $39 if you pay late; you’ll pay no foreign transaction fee on purchases made outside the U.S.
- Annual fee: None
The typical credit card charges about 17 percent APR, so the interest rate on Spark Classic is fairly high. But when compared with other business credit cards for fair credit, the APR ranks average or better.
Capital One Spark Classic Rewards
Earn 1 percent cash back on all purchases with no cap. One card on our list offers up to 3 percent back on bonus categories, but the card is not available nationally. Capital One Spark Classic does not offer a sign-up bonus nor other introductory rewards, which is not uncommon for business credit cards for fair credit.
Capital One Spark Classic Additional Features
Capital One Spark Classic offers a number of protections against lost or damaged items you purchase with the card. Many, but not all, of the cards on this list offer similar protections. Capital One offers:
- 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 protection: You’ll get additional warranty protection on eligible items that are purchased with your business card, up to one 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 card.
What the Capital One Spark Classic Is Missing
Capital One Spark Classic is designed for cardholders with fair credit, so the 24.74 percent APR is understandably high compared with the average credit card interest rate of about 17 percent. There’s also no introductory interest-free offer on purchases or balance transfers, and the fixed-rate rewards are fairly low. If your credit is good enough to qualify for other small business credit cards, choose one of those over Spark Classic.
Capital One Spark Classic Reviews
In online reviews, users say they are largely satisfied with their Capital One Spark Classic for Business card. Some users complain about low credit limits and missing perks. Cardholders say the card’s best feature is the cash-back rewards.
Where to Apply for the Capital One Spark Classic Card
You can apply for the Capital One Spark Classic for Business online. The application takes minutes and you can get approved instantly. Once approved, the card typically takes seven to ten business days to arrive.
Wells Fargo Business Secured Card: Best Secured Credit Card for Fair Credit
There aren’t many credit card options for small businesses with fair credit. If you can’t qualify for an unsecured business card or you want a guaranteed credit limit of up to $25,000, the Wells Fargo Business Secured Card is a good alternative. You’ll need $500 to $25,000 in cash to put down a security deposit, which unsecured cards don’t require. The variable 17.15 percent APR is quite good when compared with other cards on our list, and you’ll build credit as you use the card.
Wells Fargo Business Secured Card Costs
Financing costs and fees on the Wells Fargo Business Secured Card include:
- Credit line: Deposit $500 to $25,000 in a collateral account, which equals the amount of your credit line
- APR: Ongoing APR is a variable 11.9 percent to 20.74 percent, which moves with the prime rate
- Fees: Up to $39 if you pay late; you’ll pay no foreign transaction fee on purchases made outside the U.S.
- Annual fee: $25 per card (10 cards maximum).
The APR on the Wells Fargo Business Secured Card is far lower than other business credit cards for fair credit on this list, although you’ll need access to capital you don’t need in order to fund your account.
Wells Fargo Business Secured Card Rewards
You can choose to receive rewards from this business secured credit card in one of two ways:
- Cash back: Earn 1.5 percent cash back for every $1 spent on purchases; redemption is automatic as you’ll receive a statement credit or the bank will deposit cash rewards in your eligible checking or savings account once per quarter
- Points: Earn 1 point for every $1 spent on net purchases and 1,000 bonus points when your company spends $1,000 in any monthly billing period; points can be redeemed for gift cards, merchandise or airline tickets
The flat-rate cash-back option will net your business a higher return than the 1 percent cash back the Capital One Spark Classic for Business offers. One other card offers a 3 percent return in some bonus categories.
Wells Fargo Business Secured Card Additional Features
Enjoy purchase protection with the Wells Fargo Business Secured Card. Wells Fargo will replace, repair or reimburse you for eligible items in the event of theft or damage within the first 90 days of purchase. This is similar to the purchase protection offered by the Capital One Spark Classic for Business.
What the Wells Fargo Business Secured Card Is Missing
The Wells Fargo Business Secured Card isn’t an unsecured credit card, which means you’ll need to deposit money to get a credit line. This card isn’t good for businesses that are short on cash. But if you need to build credit, this is a good alternative to a business credit card for fair credit because your on-time payments and utilization will be reported to the credit bureaus.
Wells Fargo Business Secured Card Reviews
User reviews are mixed for the Wells Fargo Business Secured Card. Business owners say their responsible use of this card has allowed them to improve their personal credit score, sometimes by more than 100 points. Others complained that even when they improved their credit scores, the issuer failed to offer them a chance to graduate to an unsecured business credit card.
Where to Apply for the Wells Fargo Business Secured Card
Only business owners with an existing relationship with the bank may apply online for the Wells Fargo Business Secured Card. Otherwise, you’ll need to apply in person at a branch. When considering your application, Wells Fargo will examine your credit experience and payment history, cash flow and existing credit obligations and your current relationship with the bank.
BBVA Compass Business Rewards Credit Card: Another Fair Credit Business Credit Card for the Sunbelt Region
The BBVA Compass Business Rewards Credit Card is the only business credit card for fair credit on our list that offers a 0 percent introductory APR, making it an ideal choice for business owners looking to make a big purchase or free up working capital. The introductory offer is good for the first nine months of card ownership. It also offers a low ongoing APR of 11.24 percent to 25.24 percent. The card is only available in seven southern and western U.S. states.
BBVA Compass Business Rewards Credit Card Costs
Financing costs and fees on the BBVA Compass Business Rewards Credit Card include:
- APR: Ongoing APR is a variable 11.24 percent to 25.24 percent based on your creditworthiness; for one year, enjoy a 0 percent or 3.99 percent introductory APR on balance transfers requested within 90 days of account opening
- Fees: Late fee is $19 if previous balance on the statement showing the fee is less than $100, $39 if the balance is $100 or more, and $49 if the penalty APR of 29.24 percent variable is in effect; pay a 3 percent foreign transaction fee on purchases made outside the U.S.
- Annual fee: None
The bottom end of the interest rate range on BBVA Compass Business Rewards card is well below the average credit card APR. Business owners with fair credit are unlikely to qualify for the lowest rate, but the top end of the range is about average for business credit cards for fair credit. As you improve your credit, you could request an interest rate reduction and continue to use this card.
BBVA Compass Business Rewards Credit Card Rewards
BBVA Compass Business Rewards offers a tiered rewards program:
- Earn one point for every $1 in purchases
- Earn one additional point for every $1 you spend on qualifying gas, office supply, telephone and insurance purchases
- Earn 2x and 3x points in categories you select, like restaurants, travel or home improvement
Points can be redeemed for statement credits, but you must redeem a minimum of 2,500 points. Other cards place fewer or no restrictions on when points can be redeemed.
BBVA Compass Business Rewards Credit Card Additional Features
Like several other cards on this list, the BBVA Compass Business Rewards Credit Card offers protections against theft and damage of items paid for with the card. It also includes a travel benefit not seen elsewhere:
- Purchase protection: BBVA Compass will replace, repair or reimburse you for eligible items in the event of theft or damage within the first 90 days of purchase.
- Travel accident insurance: You’ll receive coverage up to $500,000 for travel accidents when transportation is purchased with your business credit card.
- Auto rental collision damage waiver: You’re covered for damage due to collision or theft when you rent an eligible car with your BBVA Compass Business Rewards card.
What the BBVA Compass Business Rewards Credit Card Is Missing
Unlike the other business credit cards on our list, the BBVA Compass Business Rewards Credit Card is not available nationally. Business owners in just seven states are eligible to apply: Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas.
BBVA Compass Business Rewards Credit Card Reviews
We were unable to find any online user reviews for the BBVA Compass Business Rewards Credit Card, but the bank generally receives fairly mediocre marks, with customers frequently complaining about customer service. The Better Business Bureau gives the bank a B- rating for failing to respond to four complaints. In total, the BBB logged 590 complaints about the bank over the past three years, the majority of which centered around “problems with products and services.”
Where to Apply for the BBVA Compass Business Rewards Credit Card
Small business owners cannot apply for the BBVA Compass Business Rewards Credit Card online. The bank directs potential cardholders to apply at a branch or to call a toll-free phone number.
Bento for Business: Best Free Prepaid Credit Card for Fair Credit
Bento for Business is a prepaid card that requires fewer qualifications than business credit cards, making this an ideal alternative to some business credit cards for fair credit. Bento is a good choice for businesses that don’t need many cards, as the issuer offers the first two for free. If you need more than two cards, you’ll pay a monthly fee of $29 or more, which could prove more expensive than other alternatives.
Bento for Business Costs
Bento for Business charges just one fee: its monthly fee. Bento offers tiered pricing on this fee:
- First two business prepaid cards: Free
- 3 – 10 cards: $29 per month
- 11 – 25 cards: $69 per month
- Unlimited cards: $149 per month
Bento will waive the monthly fee if your business spends $20,000 or more per month. Unlike other prepaid cards, Bento does not charge transaction, new card issuance, setup, or load fees.
Bento for Business Rewards
Like most prepaid business cards, Bento for Business offers no rewards. If you need two or fewer cards, though, you’ll incur no costs. As a prepaid card, there is no APR and no annual fee.
Bento for Business Additional Features
Bento for Business has no minimum or maximum balance requirements, although you can load a maximum of $25,000 to the account daily via ACH or wire transfer from your bank account. Each card has a $25,000 daily spending limit. Because this is a prepaid debit card, there is no credit check, so if your credit is fair or worse, you won’t need to worry about your score being a barrier to approval.
What the Bento for Business Is Missing
Bento for Business isn’t an unsecured credit card, and so you can only spend up to the amount you have loaded on the card. The card also doesn’t report activity to the credit bureaus, so using Bento won’t help you move your credit from fair to good. And, unlike other business credit cards for fair credit, Bento doesn’t offer any rewards for your spending.
Bento for Business Reviews
Bento for Business users wrote in online reviews that they liked how easy managing multiple Bento cards was and that the prepaid card offered their business a good way to monitor business expenses. Some users were disappointed in how long it took to process fund transfers. Check out our Bento for Business Reviews page to learn more or provide a review yourself.
Where to Apply for the Bento for Business Card
You can apply online for Bento for Business and receive instant approval. The account will take two to three days to fund, and you’ll receive your first card within seven to ten business days.
Capital One QuicksilverOne Cash Rewards Credit Card: Alternative Personal Credit Card Option for Fair Credit
If you don’t like the available options for the best business credit card for fair credit, applying for a personal credit card may be a good alternative. We like the Capital One QuicksilverOne Cash Rewards Credit Card because it offers a solid fixed-rate return on all purchases. The annual fee is $39, which is higher than other options on our list. You’ll pay a variable APR of 24.99 percent, which is about average for a credit card for fair credit.
Capital One QuicksilverOne Costs
Financing costs and fees on the Capital One QuicksilverOne Cash Rewards Credit Card are:
- APR: Ongoing APR is a variable 26.49 percent and will adjust with the prime rate
- Fees: Up to $38 if you pay late; you’ll pay no foreign transaction fee on purchases made outside the U.S.
- Annual fee: $39
The APR for the Capital One QuicksilverOne Cash Rewards Credit Card is high for a personal credit card, but it’s on par with what the APR you’ll find on many business credit cards for fair credit. This card charges the highest annual fee of any card on our list.
Capital One QuicksilverOne Rewards
Earn an unlimited 1.5 percent cash back on every purchase. Redeem cash back in the form of a statement credit or a check. You can also set up an automatic redemption that allows you to receive your cash back at a set time each calendar year or when you reach a specific amount of rewards earned, like $50 or $200.
Capital One QuicksilverOne Additional Features
The Capital One QuicksilverOne Cash Rewards Credit Card includes several benefits protecting against theft and damage like other cards on our list offer, but it’s missing one common benefit: purchase protection. You’ll receive:
- Extended protection: You’ll get additional warranty protection on eligible items that are purchased with your business card, up to one 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 QuicksilverOne card.
What Capital One QuicksilverOne Card Is Missing
Most personal credit cards that offer cash back rewards of 2 percent or less don’t charge an annual fee. You’ll need to calculate whether you’ll spend enough with this card to justify the $39 annual fee or if a card that offers smaller rewards, like the Capital One Spark Classic (1 percent), and no annual fee is a better fit.
Capital One QuicksilverOne Reviews
Online reviews of the Capital One QuicksilverOne Cash Rewards Credit Card show that users generally cast the card in a favorable light. They applaud the rewards rate and the issuer’s customer service. Some complain about not being able to get a higher credit line. Capital One says cardholders can get access to a higher limit after making their first five monthly payments on time.
Where to Apply for the Capital One QuicksilverOne Card
You can apply for the Capital One QuicksilverOne Cash Rewards Credit Card online. The application takes minutes and you can get approved instantly. Once approved, the card typically takes seven to ten business days to arrive.
Bottom Line
Know your credit score before applying for a credit card. If your score is less than 670, you may be a good candidate for a small business credit card for fair credit. Rewards will be less lucrative on this type of card, and your fees will likely be higher. But this doesn’t have to be your go-to card forever. Use the card responsibly to improve your credit and gain access to better cards.
We think the Capital One Spark Classic for Business is the best small business credit card for fair credit because it charges no annual fee, requires no deposit, and returns a modest 1 percent of your spending in rewards.
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