I registered my business as a corporation. It has been inactive for years, and has not generated any profit. I need a business card because the company will be active in the fall. Can I apply for a business prepaid credit card line of credit? That will require a deposit but will function like a regular credit card, like a secure business credit card.
Thanks for the question. We actually have a really great article for you! Based on your situation, you should definitely consider a Secured Business Credit Card. It functions just how you outline above – you make a deposit and your credit line is secured by that collateral. You can expand your credit later by making additional deposits or eventually get more credit once you’ve demonstrated your ability to make regular payments. Be sure to check out our guide to the Best Secured Business Credit Card providers to see which provider might be best for you: https://fitsmallbusiness.com/best-secured-business-credit-card/
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