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In 2022, the credit card industry will be in disarray. According to recent reports, more than 40% of Americans have some form of bad credit due to economic hardship and other factors. It’s predicted that 95% percent of consumers will rely on a business credit card by then.
The “startup business credit cards with no credit check” is the 5 best business credit cards for people who have bad credit. The cards are available to individuals with a FICO score of 500 or less.
Editor’s note: This is a periodic piece containing card information that is updated on a regular basis.
When you’re trying to restore your credit, the greatest credit card is one that has a simple approval procedure and will ultimately help you qualify for an unsecured card. Some even have perks that are identical to those offered by unsecured business cards. You may set up account activity notifications, payment reminders, and alerts to check who pulls your credit in case of fraud using online and mobile banking. These cards may help you build your credit score and provide you access to a larger selection of business credit cards, as well as loans and lines of credit, if you use them regularly and pay on time.
The following are the top five business credit cards for those with weak credit:
Do you want to compare the attributes of two cards? We’ve made it simple for you to do so! To add up to three cards to your basket, just check them off 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 Bad 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.
Compare with
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 a great card that you can use without keeping track of spending categories to earn rewards. You get 1% cash back on all business purchases with no cap on the number of rewards you can earn. Plus, rewards will never expire, and there’s There is no yearly charge..
If you have fair or bad credit (580-669), this card may help you improve your credit score by allowing you to make regular on-time payments, which will be recorded to the main credit agencies. Because there is no introductory rate on this card, be sure you pay the debt every billing cycle because the annual percentage rate (APR) is 26.99 percent. It’s the only unsecured card on the list, but it’s also one of our top credit cards for small companies.
The Best Business Secured Card for Earning Rewards is the Wells Fargo Business Secured Card.
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
Compare with
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.
We like it because: To get a secured credit card, you’ll need to make a cash deposit, which is normally equal to your credit limit. Before you apply for the Wells Fargo Business Secured Card, you’ll need a Wells Fargo business checking or savings account. You may opt to receive 1.5 percent cash back on all qualified purchases or 1 point for every $1 spent with this card. When you choose points, you’ll get an extra 1,000 points per billing cycle if you spend at least $1,000.
This card has the lowest interest rate on this list at 15.15% APR, and there’s There is no yearly charge.. It doesn’t report to the major credit bureaus, but over time Wells Fargo will review your account periodically to see if you qualify for an unsecured Wells Fargo credit card. It’s one of our picks for best instant approval business credit cards.
The Discover It® Secured Card is the best personal credit card for rewards at gas stations.
Owners of small businesses who want assistance in repairing their personal credit
Apply Now
Discover’s Protected Website
Compare with
APR on a regular basis
Variable 24.49 percent
- There is no yearly charge., earn cash back, and build your credit with responsible use.
- This is a genuine credit card. The three main credit bureaus can help you establish a credit history. Debit and prepaid cards, in general, can’t help you create a credit history.
- After you’ve been authorized, you’ll need to provide a refundable security deposit ranging from $200 to $2,500 to establish your credit line. When submitting your deposit, you must provide your bank details.
- At eight months, we’ll do an automatic review to see whether we can convert you to an unsecured line of credit and refund your deposit.
- Every quarter, get 2% cash back at gas stations and restaurants on up to $1,000 in total purchases. Additionally, receive an unlimited 1% cash back on all other purchases.
- Get 100% United States-based customer service & get your free Credit Scorecard with your FICO® Credit Score
- At the conclusion of your first year, we automatically match all of the cash back you’ve earned.
- When you sign up for Discover, it will monitor hundreds of hazardous websites and send you free Social Security number notifications.
Pros
- Earns cash back prizes on a regular basis.
- There is no yearly charge.
- Accounts are reviewed automatically every month.
Cons
- A refundable security deposit is needed.
- There is no 0% APR term.
- APR continues to be high.
- FICO® Credit Score: Get FICO® credit ratings and monitoring for free.
- Get a free Experian credit report and dark web monitoring with Discover® Identity Alerts.
- Freeze it®: Stop account activity in the case of suspected card activity or if your card is lost or stolen to protect your account.
APR on a regular basis
Variable 24.49 percent
- There is no yearly charge., earn cash back, and build your credit with responsible use.
- This is a genuine credit card. The three main credit bureaus can help you establish a credit history. Debit and prepaid cards, in general, can’t help you create a credit history.
- After you’ve been authorized, you’ll need to provide a refundable security deposit ranging from $200 to $2,500 to establish your credit line. When submitting your deposit, you must provide your bank details.
- At eight months, we’ll do an automatic review to see whether we can convert you to an unsecured line of credit and refund your deposit.
- Every quarter, get 2% cash back at gas stations and restaurants on up to $1,000 in total purchases. Additionally, receive an unlimited 1% cash back on all other purchases.
- Get 100% United States-based customer service & get your free Credit Scorecard with your FICO® Credit Score
- At the conclusion of your first year, we automatically match all of the cash back you’ve earned.
- When you sign up for Discover, it will monitor hundreds of hazardous websites and send you free Social Security number notifications.
Pros
- Earns cash back prizes on a regular basis.
- There is no yearly charge.
- Accounts are reviewed automatically every month.
Cons
- A refundable security deposit is needed.
- There is no 0% APR term.
- APR continues to be high.
- FICO® Credit Score: Get FICO® credit ratings and monitoring for free.
- Get a free Experian credit report and dark web monitoring with Discover® Identity Alerts.
- Freeze it®: Stop account activity in the case of suspected card activity or if your card is lost or stolen to protect your account.
Why we like it: If you travel often, the Discover It® Secured Card may be the perfect card for you since it offers 2% cash back on gas station and restaurant purchases up to $1,000 every quarter, as well as 1% on all other qualifying transactions. Your cash back incentives never expire, and you can use them to pay for anything on Amazon.com or with PayPal. Although this is a personal credit card, Discover submits credit history to the main credit agencies and initiates automatic card evaluations after eight months to determine whether you qualify for an unsecured card.
There’s There is no yearly charge., and at the end of your first year of card ownership, you get an unlimited dollar match of all the cash back you earned automatically with Cashback Max.
Visa® Secured OpenSky® Credit Card: The Best No-Credit-Check Personal 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.
- By putting a refundable deposit ranging from $200 to $3,000, you may determine your own credit limit.
- 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
- There are no incentives.
- 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.
- By putting a refundable deposit ranging from $200 to $3,000, you may determine your own credit limit.
- 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
- There are no incentives.
- 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: The Visa® Secured OpenSky® Credit Card is a personal credit card you can use for any business purchase to help rebuild your personal credit. OpenSky® won’t do a credit check for approval, and it reports to the major credit bureaus. So, as you continue to use the card and make on-time payments, you can grow your credit score and repair your credit history. This card charges an annual fee of $35, and there are There are no incentives..
Most secured cards need you to have a bank account to begin, but OpenSky® makes it simple if you don’t have or qualify for one. Instead, you may make a deposit using a money order to get the application started.
Bento for Business Visa Debit Card: Best Debit Card with Quick Approval
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.
Compare with
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: The Visa® Debit Card for Business Bento isn’t a credit card, and it doesn’t require a credit check for approval. Since it’s a debit card, it doesn’t charge any interest. There are no setup fees, domestic transaction fees, or decline or overdraft fees.
Acceptance may take as little as five minutes, making this one among our top picks for the finest cards for quick approval. If you’re a company owner with numerous workers, one of the nicest benefits of this card is that each person may have their own card. On each card, you may set the spending limit and spend category, alter these settings on the mobile app, and freeze a card if it is lost or stolen. Bento is free for the first 60 days, after which it costs $29 per month for up to 10 cards, with extra monthly fees if you require more.
Using a Business Credit Card to Improve Your Credit
Using a company credit card to improve your credit is a fantastic idea. To enhance your credit score, keep the following suggestions in mind:
- Credit card companies will provide you with free credit reports as well as free credit monitoring. Examine your credit report on a regular basis for any errors or anomalies.
- Maintain a low credit use rate: You don’t have to fully abandon credit cards. Instead, set aside a modest portion of your monthly budget for things like petrol or food. A credit card that hasn’t been used in a long time may be closed by the credit card provider, and you’ll have to reapply for it.
- Make sure you pay all of your bills on time: One of the quickest methods to increase your credit score is to pay your bills on time, whether they’re credit card, utility, phone, or internet bills.
- Limit the number of credit applications you submit: Keep in mind that any goods you apply for that need a credit check, such as vehicle loans or insurance, will demand a credit check. Your credit score might be lowered if you make too many hard credit queries.
How We Decided on the Best Bad Credit Business Credit Cards
The finest business credit cards for poor credit are simple and easy to use, enabling you to concentrate on improving your credit score. We examined fast financing, an easy approval procedure, interest rates, and how the card helps you improve your credit score while choosing the top cards.
Conclusion
When picking which card to buy, keep in mind that not all of cards work the same way. Because the payment is pulled from the account that the card is connected to, you’ll want to have money accessible at all times whether you’re using a protected card or a debit card. When you’re ready to apply for a broader range of business credit cards, our list of the finest small business credit cards has the greatest options.
The “easiest business credit card to get” is the best option for people with bad credit. It has no annual fees, and it’s easy to use.
Frequently Asked Questions
Can you still get a business credit card with bad credit?
A: This is a difficult question to answer. There are many different types of credit cards, and it would be best if you spoke with one of our card experts so that they can help you find the right option for your situation.
What business credit card can I get with a 500 credit score?
A: If youre looking to get a business credit card, the best option with your score would be to apply for an unsecured card. One that is not co-branded can range from 500-1000 depending on what company makes it and where you are applying.
Can I use my EIN to get a credit card?
A: Unfortunately, this is a scam.
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