Top 10 Business Credit Cards for Bad Credit (2024)

Discover how to pick the right business credit cards for bad credit: assess your needs, compare features, and use responsibly.

I was both thrilled and scared when I first chose to launch my own company. Having worked in the business sector for years, I knew I possessed the knowledge and will needed to achieve. One major obstacle, though, came from my poor credit history. Starting a business presents many difficulties, and obtaining finance with poor credit looked nearly unattainable.

I recall seated at my kitchen table surrounded by turned-down loan applications. Those rejections nearly destroyed my ambition to be an entrepreneur; they did not only make me depressed. I did not give up though. Rather, I began searching for financial instruments supporting my new company and enabling me to strengthen my credit.

Following much investigation and consulting with financial advisers, I discovered that poor credit does not have to prohibit you from realizing your business aspirations. Business credit cards designed for those like me who must rehabilitate their credit exist. These cards were a start toward great financial health, not only a lifesaver.

Having personally gone through this, I have developed a list of the best 10 credit business credit cards for bad credit. This blog provides the knowledge required to make wise decisions and locate the financial backing to expand your company. These choices can make a major difference whether your business is small-scale or seeking to grow.

Let us start now.

What Are Business Credit Cards for Bad Credit?

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I was fascinated but also dubious when I first learned about business credit cards meant for those with bad credit.

These specialty cards actually provide a distinct combination of tools meant especially to enable people like me to get back on track.

One of the main advantages I discovered with these cards is that they often report to important credit agencies, which over time helps me either build or rebuild my credit score via regular use and timely payments.

Many of these cards also have very smaller credit limits, which motivates smart spending and helps me stay away from building unaffordable debt.

Access to basic business tools and benefits—such as rewards programs and cost tracking—which can help to smooth up and improve daily business operations—also benefits me.

With proper use, a business credit card for bad credit can turn into a necessary first step toward improved financial situations and company success.

Why Might You Want a Business Credit Card with Bad Credit?

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Friends and colleagues were rather skeptical of my first proposal to obtain a company credit card despite a bad credit record.

But I soon saw that these credit cards provide a lot of advantages for business owners trying to restore their financial situation.

It’s about building the foundation for future financial stability and growth as much as it is about getting money for pressing needs.

Top 10 Business Credit Cards for Bad Credit

The variety of choices presented overwhelmed me when looking at the best business credit cards for bad credit.

Finding which card would provide the greatest terms, features, and benefits for someone in my circumstances was challenging.

Following thorough research and consulting financial professionals, I created a list of the top 10 business credit cards that would be quite helpful for business owners trying to raise their credit ratings.

I found these credit cards to help with your decision-making:

1. Spark Classic for Business Capital One

Because of its simple approval process and useful features, business owners with low credit often choose the Capital One Spark Classic.

  • Annual Fee: $0.
  • Rewards: 1% cashback on every transaction.
  • APR: Variable between 26.99% and so.
  • Benefits: Accessible for those with acceptable credit, simple rewards program, no annual charge.
  • Cons: High APR; possible need for more credit usage.

Checkout the Card

2. BBVA Secured Visa Business Credit Card

For those trying to rehabilitate their credit while controlling company spending, BBVA provides a secured business credit card.

  • Annual Fee: $40.
  • Minimum Deposit Requirement: $500.
  • APR: Variable at about 15.49%.
  • Benefits: Lower APR and credit building via sensible use.
  • Cons: Yearly fee and a security deposit needed.

Checkout the Card

3. Wells Fargo Business Owner Credit Card

Wells Fargo offers a secured business card choice with variable credit limits dependent on your deposit.

  • Annual Fee Per Cardholder: $25.
  • Deposit Range: $500 to $25,000.
  • APR: Variable at roughly 17.15%.
  • Benefits: Flexible credit limit, rewards program, reporting to corporate credit bureaus.
  • Cons: Yearly charge per cardholder, security deposit needed.

Checkout the Card

4. Bank of America Corporate Edge Unlimited Cash Rewards Secured Card

Designed for business owners who must establish or rebuild their credit, this card provides cashback benefits on every purchase.

  • Annual Fee: $0.
  • Minimum Deposit Required: $1,000.
  • Rewards: 1-5% cashback on all transactions.
  • APR: Variable of roughly 24.24%.
  • Benefits: Reports to important credit bureaus, cashback benefits, no annual charge.
  • Cons: Calls for a more sizable security deposit.

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5. Brex Card for Startups

Focusing on company income rather than personal credit history, Brex presents a creative solution to business credit.

  • Annual Fee: $0.
  • Credit Limit: Driven by company income.
  • Rewards: Points in several categories—travel, food, software, etc.
  • Benefits: High rewards rate, low fees, no personal guarantee needed.
  • Cons: Available to tech startups and businesses with significant funding, requires connecting to a corporate bank account.

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6. Office Depot OfficeMax Business Credit Card

Even with weak credit, companies who often buy office supplies could find this store-specific card to be a good fit.

  • Annual Fee: $0.
  • Rewards: Discounts on purchases, special finance offerings.
  • APR: Variable at roughly 27.24%.
  • Benefits: For regular Office Depot/Office Max customers, no annual fee.
  • Cons: Limited to Office Depot and OfficeMax purchases; high APR.

Checkout the Card

7. Divvy Smart Credit Card for Company Use

With no personal credit needed, Divvy provides a business card that helps control spending and develop credit.

  • Annual Fee: $0.
  • Credit Limit: Inspired by company financial data.
  • Rewards: Cashback with every transaction.
  • Benefits: Strong tools for controlling expenses; no personal guarantee.
  • Cons: Approval can be strict and calls for connecting to a company bank account.

Checkout the Card

8. First National Bank Business Edition® Secured® Visa Card

With a customizable credit limit dependent on your security deposit, this secured card helps companies establish or rebuild credit.

  • Annual Fee: $39.
  • Deposit Range: $2,000 to $100,000.
  • APR: Variable at roughly 20.24%.
  • Benefits: High credit limit possibility and commercial credit bureau reporting.
  • Cons: Annual fee and a sizable security deposit needed.

Checkout the Card

9. PEX Prepaid Business Card

For companies trying to cut expenses without affecting credit, PEX provides a prepaid card option.

  • Annual Fee: $75 yearly following the first year.
  • Credit Check: Not necessary.
  • Features: Real-time transaction tracking, cost control instruments.
  • Benefits: Strong expense control without credit checks.
  • Cons: Yearly cost; no advantages for credit building.

Checkout the Card

10. CitiBusiness® / AAdvantage® Platinum Select® Mastercard®

Although it requires an assessment of corporate finances, this card provides travel incentives for companies that fly regularly.

  • Annual Fee: $99; waived for the first 12 months.
  • Rewards: Miles on American Airlines purchases, other business-related spending.
  • APR: Variable between 18.24% and 27.24%.
  • Benefits: First checked bag free on American Airlines flights, travel benefits.
  • Cons: High APR range; yearly charge beyond first year.

Checkout the Card

How to Select the Appropriate Business Credit Card for Bad Credit

Though it can be difficult, selecting the appropriate business credit card for someone with poor credit doesn’t have to be.

Having been in that boat, I discovered what to look for and what to avoid by means of meticulous research and a small amount of trial and error.

As I did, I will walk you through several important factors that can guide your choice.

1. Evaluating Your Needs

Choose a credit card keeping in mind the particular requirements of your company. Your choice should be influenced by your planned spending, the kinds of purchases you will make, and if you want cash back or travel incentives.

2. Characteristics Against Advantages

Go over thoroughly the characteristics and advantages of every card. Examine elements including:

  • Reward Programs: Select a card fit for your expenditure pattern.
  • Annual Fees: Calculate whether the advantages exceed any related expenses annually.
  • Interest Rates: Consider the APR particularly if you intend to carry a debt.
  • Credit Limit: Analyze whether the credit limit is adequate for the operations of your company.

3. Considering Eligibility Conditions

Every card calls for distinct eligibility criteria. While some might not examine personal credit at all, others could call for a security deposit. Make sure you satisfy the requirements before applying to minimize needless credit searches.

Boosting Your Credit Score Using Business Credit Cards

Using business credit cards to raise your credit score changed both my business and me.

I soon discovered when I initially started how much a solid credit score affects not only my purchasing power but also my capacity to draw greater financial prospects.

Gradually, my credit score improved significantly by carefully selecting the appropriate credit cards and controlling them.

1. Applying Responsibly

  • Timely Payments: Always pay your bills on time to prevent late penalties and damage to your credit score.
  • Credit Utilization Ratio: Keep your credit use ratio less than thirty percent. Pay off your bill in whole every month, if at all possible.
  • Regular Monitoring: Look over your credit report for any mistakes or fraudulent activity early on.

2. Maximizing the Benefits from Rewards

Utilize any rewards programs to maximize the advantages of your credit card. Whether it’s discounts, travel miles, or cash back, properly utilizing these benefits can benefit your company.

3. Building a Strong Credit Profile

Responsible use of your company credit card will help to improve your credit record, so enabling future eligibility for better financing arrangements. This can open doors for greater lines of credit, loans, and other financial instruments critical for business growth.

Final Thoughts

Reflecting on this guidance, I can see that picking the correct business credit card, especially with bad credit, includes analyzing a multitude of criteria. It’s crucial to analyze the specific demands of my business, compare the features and benefits of available cards, and be mindful of eligibility requirements. Additionally, adopting prudent credit card usage can assist in enhancing my credit score over time, providing up prospects for better financial goods in the future. Using the current reward systems and keeping a good credit record will help me to control my spending while I aim for the expansion of my company.

Frequently Asked Questions (FAQs)

1) Can you get a business credit card with a 500 credit score?

With a credit score of 500, a business credit card is indeed doable. There are reasonable options include secured corporate credit cards or those based on company income instead of personal credit.

2) Can I get a company credit card with bad credit?

Yes. Many banks provide business credit cards meant especially for people with weak credit. These cards can assist in credit profile rebuilding and budget management of costs.

3) Can I get business credit with bad personal credit?

Yes. Certain lenders and business credit cards concentrate more on the financial situation of your company than on your personal credit record. Cards like the Brex Card for Startups weigh business revenue and cash flow among other things.

4) What is the easiest business card to get?

Generally speaking, secured business credit cards—like the Wells Fargo Business Secured Credit Card—are easy to get since they are meant for people with weak or no credit history and need for a security deposit.

5) Can you get a business credit card immediately?

Business credit card approval could go differently. Some companies give virtual cards and quick approval so you may start utilizing the credit line right away. Others could need several days to review your application.

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