SVB Innovators Card Review 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.
Nancy Fernandez is a Credit Card and Insurance Expert at Fit Small Business, specializing in business credit cards and business insurance.
This article is part of a larger series on Best Small Business Credit Cards.
Silicon Valley Bank, one of the largest providers of funding and support for startup companies, was shut down by regulators on March 10 and entered FDIC receivership. A recent attempt to raise venture capital funding failed, and it was turned over to FDIC receivership. Insured deposits will be available through the new bank created by the FDIC, Deposit Insurance National Bank of Santa Clara, starting March 13.
SVB Innovators Card is a business charge card issued by the Silicon Valley Bank. It isn’t a regular credit card and has no annual percentage rate (APR) because your balance is due in full each month. It’s a great option for business owners wanting to earn fixed-rate rewards on eligible purchases without paying annual fees and those with SVB business checking accounts or savings accounts.
If you wish to compare one card over another, select a maximum of three cards on this page and click Add to compare to view the details in a side-by-side comparison.
SVB Innovators Card
BEST FOR:
Those who do not want a personal guarantee
Intro APR
N/A
Regular APR
N/A
Annual Fee
None
Credit Needed
Excellent
- Unlimited 2x points per dollar on every purchase, with no caps or spending category restrictions
Pros
- Doesn’t charge annual and foreign transaction fees
- No personal liability is required
Cons
- Doesn’t offer 0% introductory APR
- Requires excellent credit
- Needs to pay the balance in full each month
- Doesn’t have sign-up bonus
- No personal liability: You don’t need to be personally liable for your business’s credit card debts because this business charge card doesn’t require a personal guarantee, meaning that SVB won’t go after your personal assets in case you fail to pay off your balance.
- Travel and expense (T&E): You can save time with T&E tools like in-app receipt capture and real-time updates for seamless reporting.
- Expense app integration: You can integrate your accounting with Xero, QuickBooks, Intacct, and NetSuite.
Intro APR
N/A
Regular APR
N/A
Annual Fee
None
Credit Needed
Excellent
- Unlimited 2x points per dollar on every purchase, with no caps or spending category restrictions
Pros
- Doesn’t charge annual and foreign transaction fees
- No personal liability is required
Cons
- Doesn’t offer 0% introductory APR
- Requires excellent credit
- Needs to pay the balance in full each month
- Doesn’t have sign-up bonus
- No personal liability: You don’t need to be personally liable for your business’s credit card debts because this business charge card doesn’t require a personal guarantee, meaning that SVB won’t go after your personal assets in case you fail to pay off your balance.
- Travel and expense (T&E): You can save time with T&E tools like in-app receipt capture and real-time updates for seamless reporting.
- Expense app integration: You can integrate your accounting with Xero, QuickBooks, Intacct, and NetSuite.
How We Evaluate Pay-in-full Business Credit Cards
When grading pay-in-full business credit cards like the SVB Innovators Card, we evaluate the annual fee first. Then, we look at the card’s rewards, additional features, penalties, and other fees.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Annual Fee | 30 | 30 |
Ongoing Rewards | 20 | 20 |
Introductory Rewards | 0 | 20 |
Penalties | 10 | 15 |
Other Fees | 8 | 10 |
Additional Features | 2 | 5 |
Total Score | 70 | 100 |
Who the SVB Innovators Card Is Best For
- Those who can pay in full every month: With this card, your balance is due in full every month. It’s designed for startups needing flexible credit lines that scale with their business’s growth.
- Those who don’t want to provide a personal guarantee: You can have your business expenses protected from personal liability because this charge card doesn’t require a personal guarantee. It’s the leading business card with no personal guarantee.
- Those who want to earn fixed-rate rewards: You’ll earn unlimited 2x points per dollar spent on all purchases, regardless of spending categories.
- Those with existing SVB business savings or checking accounts: If you have existing business savings or checking accounts with SVB, then getting this card will enable you to manage all of your financials within one bank.
See our recommended alternatives below if this card doesn’t fit your business needs.
SVB Innovators Card Fees
APRs
There are no annual percentage rates (APR) for SVB Innovators Card, given that it requires cardholders to pay balances in full each month. Note that charge cards aren’t allowed to carry a balance from one billing period to the next and that if you fail to pay either the balance or a portion of it, the late payment fee will apply.
Fees
- Annual: None
- Balance transfer: N/A
- Foreign transaction: None
- Cash advance: 3% of the amount of each cash advance, but not less than $3 or more than $50
- Late payment: $32 or 2.5% of the charges that have been billed on the periodic statement and that remain unpaid for one or more billing cycles, whichever is greater
- Return payment: $29
- Information services: None
Your due date will be based on what’s indicated in your Statement, subject to any reasonable cut-off hour SVB will set.
SVB Innovators Card Rewards
- Unlimited 2x points per dollar on every purchase, with no caps or spending category restrictions
Earned rewards points can be redeemed as a statement credit to your account. Refer to the latest SVB Rewards Program Terms for more information.
How To Make Payments on the SVB Innovators Card
- Online: You can set up automatic payments, allowing the issuer to debit your designated deposit account automatically for the balance due on or before the due date. Also, you can pay off your balances via online banking.
- SVB Mobile App: You can pay off your balances through the SVB iOS and Android mobile apps.
SVB Innovators Card Features
- No personal liability: This business charge card doesn’t require a personal guarantee, meaning that SVB won’t go after your personal assets in case you fail to pay off your balance.
- Travel and expense (T&E): You can save time with T&E tools, like in-app receipt capture and real-time updates for seamless reporting.
- Expense app integration: You can integrate with accounting platforms Xero, QuickBooks, Sage Intacct, and NetSuite.
SVB Innovators Card Alternatives
Capital One® Spark® Classic for Business
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
29.74% (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
29.74% (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.
- Capital One® Spark® Classic for Business is a great alternative for those needing to help build and strengthen their credit
- Is ideal for those who have average to fair business credit
- Doesn’t offer a 0% introductory APR
- Lets you earn unlimited 5% cash back on hotels and rentals booked through Capital One Travel and unlimited 1% cash back on all purchases
- Is our leading business credit card for fair credit and one of our top business credit cards for startups
Bento for Business Visa® Debit Card
- Bento for Business Visa® Debit Card is an excellent prepaid card for those who don’t have size and revenue requirements
- Is free for the first 60 days after your application is approved; after, a monthly subscription shall be charged depending on the number of cards you need for your business
- Doesn’t charge setup, card load, interest charges, card issuance, domestic or international transactions, decline or overdraft, and cancelation fees
- Lacks rewards
- Is our top-recommended business prepaid card, and one of our best business cards without personal guarantee and business cards for fair credit
Emburse Spend Card
- Emburse Spend Card is a viable option for those wanting a business prepaid card that offers rewards
- Offers unlimited 1% cash back on all purchases
- Doesn’t charge fees for adding virtual and physical cards and domestic transactions
- Lets you deposit to a maximum of $100,000
- Is one of our top business prepaid cards
See our guide on the leading small business credit cards for additional options.
Bottom Line
If you’re a business owner looking for a card that doesn’t require a personal guarantee, the SVB Innovators Card may be suitable. Since this is a charge card, you will need to pay your full balance every month. Note that other types of cards can help you control your business spending and will help improve your business credit.
