Getting a business credit card with bad credit may be challenging but it’s not impossible. There are several business credit cards for bad credit you may qualify for.
Getting a credit card can make it easier to charge things you need to keep your business running, with the option to pay them off over time. You might even be able to earn some valuable rewards in the process.
But what if you have bad credit or no credit at all?
The good news: You’re not shut out of getting approved for a business credit card. But you may need to spend some time researching credit card options to find one you can qualify for.
To make that easier, we’ve rounded up some of the best business credit cards for bad credit to consider now.
Capital One Spark Classic for Business – Best for average creditThe Capital One Spark Classic for Business is designed for people who have fair credit scores and want to work their way up to the good or excellent credit score range. This card allows you to build credit while earning unlimited 1% cash back on purchases. There are no rewards tiers or rotating bonus categories to worry about and rewards don’t expire as long as your account is open and in good standing. In addition to unlimited cash back rewards, you’ll pay no annual fee and you can take advantage of helpful features, such as year-end summaries and downloadable purchase records.
Wells Fargo Business Secured – Best for bad or no credit
The Wells Fargo Business Secured Card offers credit lines ranging from $500 up to $25,000 for business owners with limited or poor credit history. Once your account is approved, you can use your card to earn your choice of 1.5% cash back on eligible purchases or 1 point per $1 spent, with no annual fee. If you opt for points, you can earn 1,000 bonus points per billing cycle when you make $1,000 in purchases.
Since this is a secured credit card, you’ll need to offer a cash deposit to open an account. This deposit may be refundable, however, if you’re able to qualify for an unsecured Wells Fargo credit card through responsible use. You’ll need a Wells Fargo business checking or savings account to apply for this card. That’s because Wells Fargo uses funds from your account for your card’s security deposit.
First National Bank of Omaha Business Edition Secured – Best for rewards
The First National Bank of Omaha Business Edition Secured Visa Card lets you prequalify without impacting your credit score, which could make it a good choice if you have bad or no credit history at all. You can request your own credit limit with this card, which can range from $2,000 to $100,000. You’ll need to pay a security deposit equal to 110% of your credit limit once you’re approved. So, for example, if your credit limit is $2,000 your deposit would be $2,200. You can earn interest on your security deposit, however, which can help to offset the card’s $39 annual fee.
Other credit cards to consider for your business if you have bad credit
In addition to the business cards for bad credit we’ve included, you may consider these personal credit card options. These are all secured cards, which means you’ll need to pay a deposit to open them if you’re approved.
|Card name||Rewards rate||Best for|
|Secured Mastercard From Capital One||N/A||Business owners who need to rebuild credit history and prefer using a card that charges no annual fee.|
|Discover it® Secured Credit Card||Business owners who want to earn cash back rewards while building positive credit history.|
|OpenSky Secured Visa||N/A||Business owners who are interested in applying for a credit card without a credit check.|
|Self Credit Builder Account + Secured Visa||N/A||Business owners who want to open a secured credit card and pay their deposit over time.|
Should you get a business credit card for bad credit?
Opening a business credit card for bad credit could make sense for a few reasons. First, you might consider it if you want to keep business and personal spending separate.
While you could use a personal credit card to fund your business, that can get tricky when it comes to deducting expenses. If all of your personal and business spending is combined on the same card, that could complicate tax filing. So having two cards, one business and one personal, can solve that problem.
It could also benefit you to have a separate business credit card if you’re interested in earning rewards on purchases.
Business credit cards can reward you for the things you spend money on the most for your business while personal cards reward you for everyday spending. If you’d like to earn cash back, miles or points on things like office supply store runs, business travel or dinners out with clients, a business credit card could be the better fit.
When weighing a business credit card for bad credit, read the fine print. Know what you’ll pay for the APR and fees as well as what rewards or benefits you’ll get. And consider how you can redeem any rewards you might be able to earn. That can help you decide if opening a business credit card is the right move and if so, which one to choose based on your spending habits.
Bad credit doesn’t have to prevent you from opening a business credit card account. The business credit cards we’ve included here are designed to offer the best combination of features and benefits, even if you have a poor credit score. Remember when used responsibly, a business credit card could help you improve your score over time. That can make it easier to qualify for premium business cards which may offer better rewards or perks.
*All information about the Capital One Spark Classic for Business and the Wells Fargo Business Secured Credit Card has been collected independently CreditCards.com and has not been reviewed or approved by the issuer.