Running a business may not be an easy task. However, a business credit card can be a useful tool for business owners and entrepreneurs. We understand credit scores play an important factor in credit card approval, so we have rounded up the best business credit cards for subprime credit.
Our picks include business credit cards that can work for the smallest of businesses to even larger ones. From credit card rewards to accounting software, check out what more is offered by these subprime business credit cards.
The Best Subprime Business Credit Cards
Here are our top picks for subprime business credit cards:
A subprime credit score does not get in the way of approval for the Revenued Business Card Visa®, because approval is based on revenue, and not your credit score. Hence why the card has made its way to the top of our list for the best subprime business credit card. Applicants should have a business with at least $10,000 in monthly deposits to be considered for card approval.
It also serves as both a business credit card and a Flex Line combined. In other words, when a credit card is not the best choice for your business purchase, you can instead opt to use the Flex Line and take out cash if needed. The application process is also quick and easy. Best of all you don’t have to wait long to know if you’re approved. You will receive a decision in as little as one hour and then you will gain access to the fund within a day.
Let’s not forget, the Revenued Business Card Visa® is also a rewards credit card so every purchase you make will earn 3% cash back in return. A reward for every purchase. In addition, the card currently has a $500 cash back rewards welcome offer after reaching the required spending amount.
The Divvy Credit Builder is another excellent choice for anyone with subprime credit. The card has made its way onto our list due to its credit-building capabilities. With responsible use of the card, it can build up your business credit and set you up for success. It is essentially a prepaid small business card with the power to build credit by reporting to the major business credit bureaus.
With responsible use of the Divvy Credit Builder, you will have the potential to graduate to an unsecured credit line with Divvy. In addition to its credit-building power, cardholders will also have access to Divvy’s card-plus-software integration to save hours of accounting. The software integrations are 100% free to use and the flexible integrations allow you to continue using the software you may already be using like Quickbooks or Sage. You can choose to auto-sync the card transaction data with your accounting system or use Divvy’s integration.
Other features of this prepaid card include:
- No interest rates or annual fees
- No contract, no obligations
- Unlimited virtual cards for employees
- Divvy mobile app access
- Earn up to 7X Reward Points on purchases
If you’re looking for credit limits and no hidden fees, then look no further than the Ramp Card. It is a business card with a finance automation platform designed to save time and money. The Ramp Card stands out because it provides up to 20X the capital of a standard business credit card.
Like the Revenued Business Card Visa®, there is also no personal credit check, which makes it an ideal business credit card for anyone with subprime credit. In similarity to the Divvy Credit Builder, the card also offers integrated accounting to eliminate hours of busy work, such as chasing receipts or getting approvals.
In addition, the Ramp Visa Card earns unlimited 1.5% cash back on all eligible purchases which are easily redeemable on the Ramp interface. In conjunction with cash back rewards, you will be pleased to know the Ramp Visa Card has no hidden fees. This includes no annual fee, no foreign transaction fee, and no interest on purchases.
The Business Advantage Unlimited Cash Rewards Secured Credit Card is worth the mention as it works for business owners who may not have the best credit. It’s a secured credit card which means it requires a security deposit, in this case, that is a minimum of $1,000. If you already have an existing Bank of America relationship, then you may qualify for the secured credit card.
Although it is a simple secured credit card, it has the potential to earn rewards. The card earns unlimited 1.5% cash back on all purchases. Earn even more cash back if you become eligible for the Bank of America Preferred Rewards for Business account. Rewards are redeemable as statement credits or bank deposits. Like Divvy, with responsible use of this secured business credit card, there is space to graduate to the unsecured version
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