6 Best Business Credit Cards for Fair Credit in 2022

Fair credit cards offer consumers a way to access the same services offered by high-end luxury brands without making hefty monthly payments. This article will cover six of these cards, including three with annual fees and three that come at no cost.

The “credit cards for fair credit instant approval” is a topic that has been on the minds of many business owners. The article will discuss 6 best business credit cards for fair credit in 2022.

Editor’s note: This is a periodic piece containing card information that is updated on a regular basis.

When you have a solid credit score and are looking for a business credit card, think about what you’ll use it for, what spend limit you’ll need, and if you intend to carry a load from month to month. Low fees, payment alerts/reminders, fraud protection, and reporting to the main credit agencies are all features of the best credit cards for fair credit.

The following are the six best business credit cards for those with bad credit:

Do you wish to compare the characteristics of two cards? We’ve made it simple for you to do so. To add cards to your basket, check up to three boxes on this page. You’ll be able to compare the information in a side-by-side comparison this way.

Best Overall Business Credit Card for Fair Credit: Spark® Classic for Business by Capital One®

Spark® Classic for Business by Capital One®

Our editorial team uses industry specialists to generate the scores for Fit Small Business. The kind of credit card (cash back or travel) as well as the card’s rates, fees, rewards, and other benefits like insurance are all taken into account in our grading methodology.

Owners of fair credit businesses (580 to 669)

Apply Now

on Spark® Classic for Business by Capital One®’s secure website.

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APR on a regular basis

269,9% (Variable)

Credit is required.

Average, Reasonable, and Limited

• Every time you swipe, you’ll get 1% cash back.
• Build your company’s credit by using it responsibly.
• Employee cards may be distributed for free.

Pros

• Possibility of obtaining business credit
• Fair credit is all that is required.
• There is no yearly charge.

Cons

• There is There is no preamble. APR of 0%.
• There is no sign-up incentive.
• High APR

• Purchase protection: If your qualifying products are stolen or damaged during the first 90 days of purchase, Capital One will replace, repair, or refund you.
• Extended warranty protection: On qualifying products bought with your business card, you’ll receive an extra year of warranty protection, up to one year beyond the manufacturer’s guarantee.
• Auto rental collision damage waiver: You’re covered for damage due to collision or theft when you rent an eligible car with your Spark® Classic for Business by Capital One® card.

APR on a regular basis

269,9% (Variable)

Credit is required.

Average, Reasonable, and Limited

• Every time you swipe, you’ll get 1% cash back.
• Build your company’s credit by using it responsibly.
• Employee cards may be distributed for free.

Pros

• Possibility of obtaining business credit
• Fair credit is all that is required.
• There is no yearly charge.

Cons

• There is There is no preamble. APR of 0%.
• There is no sign-up incentive.
• High APR

• Purchase protection: If your qualifying products are stolen or damaged during the first 90 days of purchase, Capital One will replace, repair, or refund you.
• Extended warranty protection: On qualifying products bought with your business card, you’ll receive an extra year of warranty protection, up to one year beyond the manufacturer’s guarantee.
• Auto rental collision damage waiver: You’re covered for damage due to collision or theft when you rent an eligible car with your Spark® Classic for Business by Capital One® card.

Why we like it: The Spark® Classic for Business by Capital One® is our top choice for a fair credit business card. If you’re a new business owner and need help building credit, this card can help. Your payment history will be regularly reported to the major credit bureaus, which will be a major factor in growing your score.

With this card, you get an unlimited 1% cash back on all business purchases with no limit to the amount of rewards you can earn. Plus, this card has There is no yearly charge.. It does have a high interest rate of 26.99%, so it’s important to plan your budget so that you can pay the bill in full each billing cycle rather than carrying a balance. It’s our top choice for the best easy approval business credit cards.

The Secured Credit Card from Wells Fargo is the safest way to earn rewards.

Secured Credit Card from Wells Fargo

Our editorial team uses industry specialists to generate the scores for Fit Small Business. The kind of credit card (cash back or travel) as well as the card’s rates, fees, rewards, and other benefits like insurance are all taken into account in our grading methodology.

Owners of businesses with bad credit

Apply Now

On the Safe Website of Wells Fargo

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APR on a regular basis

On purchases, Prime members get an extra 11.90 percent off.

• Option 1: Earn 1.5 percent cash back on every dollar spent.
• Option for Reward Points: Earn 1 point for every $1 spent, plus 1,000 additional points if your firm spends $1,000 or more in a monthly billing period.
• There is no yearly cost for the rewards program.
• A credit line of $500 to $25,000 is available.
• There is no risk of responsibility.

Pros

• With a credit score of less than 580, approval is possible. 
• Fixed-rate cash back or points rewards are your options.

Cons

• A security deposit of at least $500 is required.
• Has a yearly charge

• Purchase Assurance: If an item is damaged or stolen within 90 days of purchase, Wells Fargo will fix, replace, or refund you.
• Design Studio: On your credit card, include a personal picture or a company design.

APR on a regular basis

On purchases, Prime members get an extra 11.90 percent off.

• Option 1: Earn 1.5 percent cash back on every dollar spent.
• Option for Reward Points: Earn 1 point for every $1 spent, plus 1,000 additional points if your firm spends $1,000 or more in a monthly billing period.
• There is no yearly cost for the rewards program.
• A credit line of $500 to $25,000 is available.
• There is no risk of responsibility.

Pros

• With a credit score of less than 580, approval is possible. 
• Fixed-rate cash back or points rewards are your options.

Cons

• A security deposit of at least $500 is required.
• Has a yearly charge

• Purchase Assurance: If an item is damaged or stolen within 90 days of purchase, Wells Fargo will fix, replace, or refund you.
• Design Studio: On your credit card, include a personal picture or a company design.

Why we like it: Few secured business credit cards offer rewards, which is why the Secured Credit Card from Wells Fargo is so valuable. You can select between earning 1.5% cash back or 1 point for every $1 spent on all qualifying business purchases. If you select cash back, you can opt to receive it automatically either as a credit to your account or checking or savings account each quarter―March, June, September, and December.

Keep up to $25,000 in a Wells Fargo business checking or savings account as your refundable deposit and your credit limit—and there’s There is no yearly charge.. This card doesn’t report to either personal or business credit bureaus, but over time, Wells Fargo will review your account to see if you qualify for an unsecured Wells Fargo credit card.

Visa Credit Card, Business Edition® Secured®: Best Secured Card with a High Limit

Secured Visa Card from First National Bank of Omaha for Business

Secured credit lines of up to $100,000 are available.

Apply Now

On the secure website of First National Bank of Omaha

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APR on a regular basis

Variable 20.24 percent

• When you apply, you may request a credit limit between $2,000 and $100,000 (multiples of $50), subject to credit approval.
• Subject to credit approval, a security deposit of 110 percent of your credit limit, between $2,200 and $110,000 (multiples of $50), is required.
• The yearly cost is $39
• Interest might be earned on your security deposit.
• Purchases and balance transfers have a variable APR of 19.99 percent dependent on the Prime Rate.
• With Visa SavingsEdge®, you may get automatic rebates on purchases made at approved retailers.
• You do not need to be a citizen of the United States to apply, but you must have a valid Social Security number or individual taxpayer identification number (ITIN) as well as a valid US address.
• View transactions, pay your account, and view up to seven years of preceding statements all from the comfort of your own home.

Pros

• Accepts credit scores from a broad spectrum of people.
• You have the ability to create your own credit limit.
• Provides easy-to-understand management reports
• Your security deposit account balance will earn 0.05 percent annual percentage yield (APY).

Cons

• An yearly charge is required.
• Charges a charge for international transactions.
• Doesn’t provide any incentives

• Automatic discounts are available on purchases made at participating retailers. Rebates will be credited to your account as statement credits.
• Visa has a no-fault policy. It protects you in the event that your card or account information is used fraudulently.
• Management Reports are available for free. You’ll be able to easily keep track of your expenditures and spending, find tax deductions, prepare tax returns, and forecast costs.

APR on a regular basis

Variable 20.24 percent

• When you apply, you may request a credit limit between $2,000 and $100,000 (multiples of $50), subject to credit approval.
• Subject to credit approval, a security deposit of 110 percent of your credit limit, between $2,200 and $110,000 (multiples of $50), is required.
• The yearly cost is $39
• Interest might be earned on your security deposit.
• Purchases and balance transfers have a variable APR of 19.99 percent dependent on the Prime Rate.
• With Visa SavingsEdge®, you may get automatic rebates on purchases made at approved retailers.
• You do not need to be a citizen of the United States to apply, but you must have a valid Social Security number or individual taxpayer identification number (ITIN) as well as a valid US address.
• View transactions, pay your account, and view up to seven years of preceding statements all from the comfort of your own home.

Pros

• Accepts credit scores from a broad spectrum of people.
• You have the ability to create your own credit limit.
• Provides easy-to-understand management reports
• Your security deposit account balance will earn 0.05 percent annual percentage yield (APY).

Cons

• An yearly charge is required.
• Charges a charge for international transactions.
• Doesn’t provide any incentives

• Automatic discounts are available on purchases made at participating retailers. Rebates will be credited to your account as statement credits.
• Visa has a no-fault policy. It protects you in the event that your card or account information is used fraudulently.
• Management Reports are available for free. You’ll be able to easily keep track of your expenditures and spending, find tax deductions, prepare tax returns, and forecast costs.

Why we like it: The Company Edition® Secured® Visa is a rare card that may help you reach your business objectives if you have a lot of cash on hand and a bad credit history. Subject to credit approval, you may request a credit limit of $2,000 to $100,000. In a First National Bank Savings account, a security deposit of 110 percent of your credit limit is needed.

You pay only a low The yearly cost is $39. Plus, if you maintain a minimum of $2,000 in your savings account, you can Interest might be earned on your security deposit.

The Amazon Store Card is the best option for repeat Amazon purchases.

Visa Signature Card with Amazon Prime Rewards

Amazon Prime membership allows you to earn rewards on Amazon purchases.

Apply Now

On Amazon’s Trusted Site

Compare with

APR on a regular basis

Variable 15.74 percent – 23.74 percent

Credit is required.

Excellent – Excellent

• When your credit card is approved, you’ll get a $70 Amazon.com gift card right away.
• Amazon.com and Whole Foods Market are both offering a 5% discount.
• 2% back at restaurants, petrol stations, and pharmacies
• All purchases will earn you 1% cash back.

Pros

• Ongoing incentives on Amazon and Whole Foods Market purchases are excellent.
• On Amazon.com, you may use your rewards right now.
• Upon acceptance, you will get a free Amazon gift card.

Cons

• An Amazon Prime subscription, which starts at $119, is required.
• There is no 0% APR term.
• Only one Amazon Prime membership may receive top-tier benefits.

• Extended warranty: Extends the time length of the US manufacturer’s warranty for qualified warranties of three years or less by an extra year.
• You’re protected up to $3,000 per passenger if you or a member of your immediate family check or carry-on baggage that is damaged or lost by the carrier.
• Luggage delay insurance: For baggage delays of more than six hours, you may be compensated up to $100 per day for up to three days.
• Purchase protection: If an item bought with the card is damaged or stolen within 120 days of purchase, the issuer will repair, replace, or refund you; coverage is limited to $500 per incident and $50,000 per account per year.

APR on a regular basis

Variable 15.74 percent – 23.74 percent

Credit is required.

Excellent – Excellent

• When your credit card is approved, you’ll get a $70 Amazon.com gift card right away.
• Amazon.com and Whole Foods Market are both offering a 5% discount.
• 2% back at restaurants, petrol stations, and pharmacies
• All purchases will earn you 1% cash back.

Pros

• Ongoing incentives on Amazon and Whole Foods Market purchases are excellent.
• On Amazon.com, you may use your rewards right now.
• Upon acceptance, you will get a free Amazon gift card.

Cons

• An Amazon Prime subscription, which starts at $119, is required.
• There is no 0% APR term.
• Only one Amazon Prime membership may receive top-tier benefits.

• Extended warranty: Extends the time length of the US manufacturer’s warranty for qualified warranties of three years or less by an extra year.
• You’re protected up to $3,000 per passenger if you or a member of your immediate family check or carry-on baggage that is damaged or lost by the carrier.
• Luggage delay insurance: For baggage delays of more than six hours, you may be compensated up to $100 per day for up to three days.
• Purchase protection: If an item bought with the card is damaged or stolen within 120 days of purchase, the issuer will repair, replace, or refund you; coverage is limited to $500 per incident and $50,000 per account per year.

Why we like it: If your small business frequently shops at Amazon, you can benefit from the Amazon Store Card online at Amazon Business, Amazon.com, Amazon Go, and other Amazon-affiliated stores. Enjoy There is no yearly charge. and receive a $60 Amazon gift card―as of January 2022―upon approval. You can also use the card to pay for an Amazon Business Prime membership at $69 per year and receive 5% cash back with every purchase.

At a 0% annual percentage rate (APR), you have two pay-over-time options: equal monthly payments or special financing. Keep in mind that if you choose one of the pay-over-time options, you won’t be eligible for the 5% cash back if you join Amazon Prime.

Payments made on the same day each month:

• On purchases of $150 or more, make six equal monthly payments.
• On purchases of $600 or more, make 12 equal monthly payments.
• On certain purchases of $600 or more, 24 equal monthly installments are available.

Special funding is available:

• On orders of $150 or more, you get a six-month warranty (pay in full at the end of 6 months)
• Purchases of $600 or more are eligible for a 12-month payment plan (pay in full at the end of 12 months)
• Select purchases of $800 or more are eligible for a 24-month payment plan (pay in full at the end of 24 months)

The Best Personal Credit Card for Fair Credit is the Visa® Secured OpenSky® Credit Card.

Visa® Secured OpenSky® Credit Card

Owners of businesses having a credit score of less than 580

Apply Now

on Visa® Secured OpenSky® Credit Card’s secure website.

Compare with

APR on a regular basis

Variable 17.39 percent

Credit is required.

There is There is no credit check..

• There is There is no credit check.. needed to apply—OpenSky® won’t pull your credit so there’s no impact on your credit score.
• You have the ability to create your own credit limit. by making a refundable deposit ranging from $200 to $3,000.
• To help you establish or enhance your credit score, OpenSky® sends your activity to credit bureaus such as Equifax®, Experian®, and TransUnion®.

Pros

• There is There is no credit check.. required
• Aids in the development of credit
• The yearly charge is low.

Cons

• There is no preamble. APR
• No rewards
• A security deposit is required.

• Set up email notifications to remind you to make a payment or when your credit limit is about to be reached.
• Automatic payments: To guarantee that your card is paid on time, you may set up periodic automatic payments.
• All of the features of a Visa® credit card: This card has all of the benefits of a Visa® credit card, such as global acceptance and fraud protection.

APR on a regular basis

Variable 17.39 percent

Credit is required.

There is There is no credit check..

• There is There is no credit check.. needed to apply—OpenSky® won’t pull your credit so there’s no impact on your credit score.
• You have the ability to create your own credit limit. by making a refundable deposit ranging from $200 to $3,000.
• To help you establish or enhance your credit score, OpenSky® sends your activity to credit bureaus such as Equifax®, Experian®, and TransUnion®.

Pros

• There is There is no credit check.. required
• Aids in the development of credit
• The yearly charge is low.

Cons

• There is no preamble. APR
• No rewards
• A security deposit is required.

• Set up email notifications to remind you to make a payment or when your credit limit is about to be reached.
• Automatic payments: To guarantee that your card is paid on time, you may set up periodic automatic payments.
• All of the features of a Visa® credit card: This card has all of the benefits of a Visa® credit card, such as global acceptance and fraud protection.

Why we like it: If you’re repairing your credit, the Visa® Secured OpenSky® Credit Card is a personal credit card you can still use for business purchases, with a The yearly charge is low. of just $35. Remember that it’s important to keep business and personal finances separate, to make it easier to track your expenses and make tax season easier.

You’ll need to supply a refundable cash deposit, which will serve as your credit limit, as with most secured cards. The credit limit for this card is $200 to $3,000, depending on approval.

During the application process, OpenSky will not run a credit check. It does, however, report to the main credit agencies, so if you pay on time, your credit score will improve.

Best Debit Card for Fair Credit: Bento for Business Visa Debit Card

Visa® Debit Card for Business Bento

Managing employee costs without having to pass a credit check

Apply Now

on Visa® Debit Card for Business Bento’s secure website.

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The Total The Total Number of Cards

Unlimited

Cost per month

$29-149 per month

Daily Load Capacity

None

Spending Cap for the Day

$25,000

• Decision made in a flash
• There is There is no credit check.. required
• Card controls and spending reports with a single click

Pros

• The first two cards are completely free.
• Easily manage employee spending
• Purchase safeguards and additional card features

Cons

• If you have more than two cards, you will be charged a lot of money.
• Funds must be deposited.
• Will not assist in the development of business or personal credit.

• Auto rental collision damage waiver: Pay for your full auto rental transaction with this card and obtain collision coverage up to the value of the vehicle for a damaged or stolen rental vehicle.
• Purchase protection: Purchases are insured for damage and theft for up to 90 days, with a maximum of $10,000 per claim and $50,000 per year.

The Total The Total Number of Cards

Unlimited

Cost per month

$29-149 per month

Daily Load Capacity

None

Spending Cap for the Day

$25,000

• Decision made in a flash
• There is There is no credit check.. required
• Card controls and spending reports with a single click

Pros

• The first two cards are completely free.
• Easily manage employee spending
• Purchase safeguards and additional card features

Cons

• If you have more than two cards, you will be charged a lot of money.
• Funds must be deposited.
• Will not assist in the development of business or personal credit.

• Auto rental collision damage waiver: Pay for your full auto rental transaction with this card and obtain collision coverage up to the value of the vehicle for a damaged or stolen rental vehicle.
• Purchase protection: Purchases are insured for damage and theft for up to 90 days, with a maximum of $10,000 per claim and $50,000 per year.

Why we like it: You receive a lot of card management choices with your Bento for Business Visa Debit Card, despite the fact that it’s a debit card. Accounting integration, analytics and reporting, receipt capture, invoice payments, and expenditure controls are all part of the package. Transfer money from any account to your Bento account, then use your Bento card as a debit card to draw money from your Bento account.

Because the application procedure does not involve a credit check, your credit rating is not taken into account when deciding whether or not you will be approved. It’s free for the first 60 days, then $29 for up to 10 cards, $69 for up to 25 cards, and $149 for up to 100 cards every month.

How We Decided on the Best Fair Credit Small Business Credit Cards

We looked at cards that help grow your credit score and have a The yearly charge is low. or There is no yearly charge.. We also looked at interest rates, whether they report to the credit bureaus, rewards, and other perks and benefits.

Conclusion

Once you’ve been accepted, use free online and mobile banking to keep track of your spending and set up alerts and reminders to pay your credit card payment. Your credit score will improve as you make on-time payments on your credit card, and you’ll be eligible for a larger range of cards with better rewards and advantages. Check out our list of the top small business credit cards for a sneak peek.

The “best credit cards for fair credit” is a list of the 6 best business credit cards for people with fair or poor credit. The list includes information about each card, such as interest rates and fees.

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