Last updated on September 5th, 2023
Establishing and maintaining good credit is crucial for businesses to access capital, manage cash flow, and build financial credibility. However, businesses with no credit history or poor credit face challenges when seeking credit card products. Fortunately, quality options are available that are specifically designed to cater to these businesses. Here are the easiest business credit cards to get if you have bad or limited credit history:
At a Glance
 First Bank Business Edition® Secured Mastercard® |
 Revenued Business Card Visa® |
 Ramp Card |
 Capital One® Spark® Classic for Business |
Why Should Companies Build Credit?
Before jumping in, let’s quickly cover why it is important for businesses to build credit. Establishing strong credit allows you to obtain the capital your company needs to expand, purchase inventory, pay for travel, and conserve your available cash to cover your business costs. Here are a few more reasons why you should prioritize building business credit for your brand:
| Keep personal and company finances separate | Track business expenses | Take advantage of business-centric perks not available with personal cards |
| Access more spending power | Establish and build up business credit | Provide employees with a way to pay for business expenses |
Secured Business Cards
Secured business cards are an excellent starting point for businesses with no credit or bad credit. These cards require a security deposit that acts as collateral against the credit line. Here’s what you need to know about this unique type of business credit card:
| Understanding Secured Business Cards | |||
|---|---|---|---|
| How to use secured business cards | Secured business cards function similarly to traditional credit cards, but they require an upfront deposit. The deposit amount typically determines the credit limit. For example, if you deposit $1,000, your credit limit will likely be $1,000. | ||
| How to build credit | By responsibly using a secured business card, you can begin building a positive credit history. Regularly making on-time payments and keeping credit utilization low are key factors in improving your credit score. Once your business credit score grows you will be able to apply for more lucrative business rewards cards. | ||
| How to move up to better offers | After demonstrating responsible credit behavior for a certain period, some card issuers may offer the chance to upgrade to an unsecured credit card. This means you’ll receive your deposit back and transition to a card with a higher credit limit. You will also receive your deposit back when you close your secured credit card account and pay off any remaining balances. | ||
Before applying for a secured business card, always make sure to consider all aspects of the card in question, including the minimum deposit required, the annual fee, APR, and rewards (if applicable). If you plan to provide your employees with their own cards, ensure the bank provides employee cards at no additional cost.
First Bank Business Edition® Secured Mastercard®
First Bank Business Edition® Secured Mastercard®
First Bank Business Edition® Secured Mastercard®
- 27.99% variable based on the Prime Rate Regular Purchase APR
- 27.99% variable based on the Prime Rate Balance Transfer APR
- 28.99% variable based on the Prime Rate Cash Advance APR
At a Glance
The First Bank Business Edition® Secured Mastercard® offers companies the chance to build credit and advance to more lucrative rewards cards. From Missouri-based First Bank, the card features scalable credit, a fixed-rate APR, and a $39 annual fee.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Build credit with on-time payments
- Reward yourself with interest earned on your security deposit
- $39 annual fee
- Regular Purchase APR: 27.99% variable based on the Prime Rate
- Balance Transfer APR: 27.99% variable based on the Prime Rate
- Balance Transfer Transaction Fee: Either $10 or 5% of the amount of each transfer, whichever is greater
- Cash Advance APR: 28.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $15 or 5% of the amount of each cash advance, whichever is greater
- Annual Fee: $39
- Foreign Transaction Fee: 3% of each transaction in U.S. dollars
- Return Payment Penalty Fee: $35
- Over Limit Penalty Fee: $39
- Minimum Deposit Required: $2,200
- You’re a business owner with little to no credit history
- You would like a suite of online account management tools
- You can afford the steep security deposit requirements
There aren’t many secured business cards on the market anymore, but the First Bank Business Edition® Secured Mastercard® is a good example of this type. The card requires a security deposit of at least $2,200 to open an account but provides a solid platform for building credit and moving on to more impressive offerings down the line. First Bank offers other business card products, meaning you may qualify for the bank’s 1.5% cash back business card with timely payments and good credit habits.
One nice feature of the Business Edition® Secured Mastercard® is that your security deposit earns interest, like a business savings account. That isn’t the same as cash back rewards, but it is still a great feature that can add an additional layer of appeal as your business credit grows.
Corporate Cards
Corporate credit cards are typically designed for established businesses, but options are available for businesses with no credit or bad credit. What separates corporate cards and business credit cards is the liability for the debt on the card.
With small business credit cards, the business owner is personally responsible for any debt accrued with card use – including debt on additional employee cards. Small business credit cards also directly affect the business owner’s credit. If small business credit cards are used irresponsibly, it will harm the business owner’s credit score.
In contrast, with a corporate credit card, debt or financial liability does not fall on the business owner. Instead, debt responsibility or liability rests on the business itself. For this reason, eligibility for corporate credit cards is much stricter for approval.
Revenued Business Card Visa®
Revenued Business Card Visa®
Revenued Business Card Visa®
- See Terms* Regular Purchase APR
At a Glance
The Revenued Business Card Visa® combines the benefits of a business card with a Flex Line of capital. This combination means there are no hard credit checks to apply, with Flex Lines available in as little as 24 hours, with no hidden fees or annual fees.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Receive $500 in cash back after spending $5,000 on your card in the first 3 months
- Earn 3% cash back on every purchase
- Apply and get a funding decision in as little as an hour
- No monthly or annual fees while you use your card or Flex Line
- Approvals are based on revenue, not your credit score
- No fees or hard credit checks to apply
- Regular Purchase APR: See Terms*
- Foreign Transaction Fee: See Terms
- You have a business with at least $10,000 or more in monthly deposits
- You don’t want to use your personal cards for their business
- You want to earn rewards on your business spending
- You don’t want to pay any annual fees or draw fees
The Revenued Business Card Visa® is a business card and Flex Line combination. Revenued’s revolutionary small business scoring system looks beyond personal credit. Instead, it looks at revenue to offer companies much more than their current personal credit card or business card would. Revenued believes all businesses should have access to capital, no matter their credit score.
Applying for Revenued is simple. Revenued doesn’t perform a hard pull on an applicant’s personal credit score, instead basing Flex Line limits on revenue – and not FICO score alone. Once you apply, you’ll receive a funding decision in as little as an hour and have access to your funds within 24 hours. There’s even a dedicated Account Manager to help you make the most of being a Revenued cardholder.
But Revenued is more than just a line of credit. The card also provides lucrative rewards, including a decent welcome offer. New accounts can receive $500 in cash back after spending $5,000 on the card in the first three months, and the card earns an unlimited 3% cash back on all purchases.
Ramp Card
Ramp Card
Ramp Card
- See Terms Regular Purchase APR
At a Glance
The Ramp Card is a corporate charge card that provides businesses far more than just purchasing power and cash back rewards. Companies enjoy access to up to 20X more capital, extended payment terms, and unparalleled software integrations to streamline finances – all for no annual fee.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Earn unlimited 1.5% cash back on every purchase
- No fees – including foreign transaction, setup, or replacement fees
- Use to shop at any retailer worldwide that accepts Visa cards
- Add virtual cards to your Apple Wallet or Google Pay
- Block or restrict spending to a specific vendor – for either a specific card or your entire company
- Regular Purchase APR: See Terms
- You struggle with expense reports, reimbursements, and receipts
- You want a charge card without interest rates or fees
- You want a corporate card that offers enforceable employee spending limits
- You plan to issue multiple employee cards
- You have at least $75,000 in your primary business bank account
- You spend at least $10,000 per month on your cards
Ramp is another funding option for businesses looking to boost their credit. The Ramp Card provides businesses with access to up to 20X more capital, extended payment terms, and unparalleled software integrations to streamline finances – all for no annual fee. In fact, Ramp does away with fees, meaning you won’t see an annual fee or foreign transaction fees, and there’s no interest on purchases. Because Ramp is a charge card, companies must repay the full balance monthly.
The Ramp Card also provides quality cash back rewards, with cardholders earning a flat rate of 1.5% back on all purchases. Even better, Ramp also offers complimentary employee cards, so it’s even easier to spend – and earn rewards – no matter where your business takes you. Rewards are easily redeemable for statement credits through the Ramp interface: simply log in and request a statement credit.
Is the Ramp Card or Revenued Card right for your business? Here is a quick comparison of the two:
| Ramp vs. Revenued: Head to Head | |
|---|---|
|
Ramp Visa Card |
 Revenued Business Card Visa® |
| Use to shop at any retailer worldwide that accepts Visa cards | Receive $500 in cash back after spending $5,000 on your card in the first 3 months |
| Earn unlimited 1.5% cash back on every purchase | Earn 3% cash back on every purchase |
| Add virtual cards to your Apple Wallet or Google Pay | Approvals are based on revenue, not your credit score |
| Block or restrict spending to a specific vendor – for either a specific card or your entire company | No monthly or annual fees while you use your card or Flex Line |
| No fees – including foreign transaction, setup, or replacement fees | No fees or hard credit checks to apply |
Traditional, Unsecured Business Cards
Finding a good business credit card with limited credit is tricky, but options are available. These cards are geared towards companies with bad credit to average credit and offer a straightforward platform to manage your business credit.
Capital One® Spark® Classic for Business
Capital One® Spark® Classic for Business
Capital One® Spark® Classic for Business
- 30.49% variable based on the Prime Rate Regular Purchase APR
- 30.49% variable based on the Prime Rate Balance Transfer APR
- 30.49% variable based on the Prime Rate Cash Advance APR
At a Glance
With 1% cash back for every purchase and no annual fee, the Spark® Classic from Capital One® credit card is a straightforward option that businesses can use to start building their credit. Free employee cards and numerous account management options are also beneficial features of the Spark® Classic from Capital One® for those with average credit that get approved.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Earn unlimited 1% cash back for your business on every purchase, everywhere, no limits or category restrictions
- $0 Fraud Liability if your card is lost or stolen, and get real-time alerts of fraud attempts via text, email, or phone
- Free employee cards, which also earn unlimited 1% cash back on all purchases
- No annual fee
- No foreign transaction fees
- Regular Purchase APR: 30.49% variable based on the Prime Rate
- Balance Transfer APR: 30.49% variable based on the Prime Rate
- Cash Advance APR: 30.49% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 3% of the amount of each cash advance, whichever is greater
- Penalty APR: 34.4% variable based on the Prime Rate
- Late Payment Penalty Fee: Up to $39
- You want to earn 1% cash back on all purchases, every day, without having to worry about complicated categories
- You have average credit and want to boost your rating by displaying responsible spending habits
- You do not want to pay annual fees or foreign transaction fees
The Spark® Classic from Capital One® is a straightforward option that businesses can use to start building credit. This no annual fee business card earns unlimited 1% cash back for your business on every purchase, complimentary employee cards, and Visa® Business benefits, such as an auto rental collision damage waiver or travel and emergency assistance services.
Capital One has a great selection of business credit cards under the Spark brand, meaning the Classic version is a great way to build credit and graduate to more lucrative options from the bank, including the Capital One® Spark® Cash Select for Business, which offers unlimited 1.5% cash back on all purchases – also with no annual fee.
Business Debit Cards
Prepaid debit cards can be an excellent tool for managing business expenses, providing convenient access to funds, and controlling spending. Debit cards also require no credit check or cash flow guarantees to open, making them a great idea for companies with limited credit history. When selecting a prepaid debit card for your business, it’s important to consider several factors to ensure it aligns with your specific needs.
Netspend® Small Business Prepaid Mastercard
Netspend® Small Business Prepaid Mastercard
Netspend® Small Business Prepaid Mastercard
At a Glance
The Netspend® Small Business Prepaid Mastercard is a versatile prepaid card designed to give companies better control of their finances and accept mobile and online payments through the optional ProPay® account.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Accept Card Payments With ProPay®
- Earn rebates with Mastercard Easy Savings®
- Easily manage employee spending
- Separate business expenses from personal expenses
- No minimum balance
- Annual Fee: $119.40 ($9.95 per month)
- Foreign Transaction Fee: 3.5% of the transaction amount in U.S. dollars
- You own or operate a small business looking for a convenient way to manage electronic payments
- You want to keep your business and personal expenses organized
- You want to earn rebates with Mastercard Easy Savings® on business expenses
The Netspend® Small Business Prepaid Mastercard is a solid choice for companies looking for a simple prepaid card to manage their accounts. The card helps small companies separate personal and business expenses through a dedicated account. You can even set up subaccounts to give your employees spending power while also allowing your account managers to monitor and control subaccount spending.
The Netspend® Small Business Prepaid Mastercard lets cardholders take their business anywhere. Netspend® offers the option of ProPay®, which accepts payments through their website. You can add a dedicated “Buy It Now” button to your site and let ProPay® directly deposit all funds straight into your prepaid account.
Other Business Card Options
Here are a few more business card options for companies with limited or no credit history:
 BILL Divvy Corporate Card |
 Business Advantage Unlimited Cash Rewards Secured Credit Card |
 GM Business Card™ |
Tips for Building Business Credit
Building credit for a business is different from building credit as an individual. Here’s a quick guide to building credit for your company.
First things first. To build business credit, you need first to establish a clear separation between personal and business finances. Create a separate legal entity for your business, such as a corporation or limited liability company (LLC). This separation shields personal assets from business liabilities, ensuring that credit activity is tied solely to the business.
Once you’ve created a company to separate your business and personal expenses, you can apply for an Employer Identification Number (EIN). An EIN is a unique identifier the IRS provides to identify your business for tax purposes.
Once you have your EIN and have set up a separate business deposit account, you can begin to build credit by establishing trade lines. Contact vendors and suppliers who are willing to extend credit to your business. Start by requesting credit terms with local businesses or suppliers you regularly interact with. Building a positive payment history with these trade accounts is critical in establishing initial credit references for your business.
And once you do all that, you can start applying for business credit cards and further establishing a positive credit history. Here are a few helpful tricks for maintaining those good credit habits for small businesses:
| Steps for Building Business Credit | |
|---|---|
| ① Don’t treat business credit like free money | Credit cards can seem like free money to spend, especially when those purchases aren’t automatically deducted from your company’s bank account immediately. Because credit cards can seem like “invisible money”, you should always treat credit lines as you would you own physical funds. Only spend what you can afford to pay off either right away, or easily with a strict payment plan. |
| ② Make more than just the minimum payment | Making the minimum monthly payment due on your credit card can seem like a good idea, but it can result in quickly accumulating significant credit card balances. Always try to pay off the full balance owed every month. |
| ③ Work with partners that report to credit bureaus | Building credit requires working with partners who report credit and financial details to the major reporting bureaus. Some lenders, including SmartBiz and Fundbox, do not report to credit agencies and won’t build your business credit. |
| ④ Monitor your credit reports | Businesses have credit reports just like consumers. Business credit reports in the United States are typically generated by Dun & Bradstreet, Experian, and Equifax. |
| ⑤ Keep your information current | When you monitor your business credit, always make sure to check if your company’s information is up to date. Check to ensure contact information is accurate, there are no unknown trade lines, or other incorrect information. |
