Best Business Credit Cards for Bad Credit (2022): How to Get a Credit Card When You’re Rebuilding Your Credit

If you’re looking for business credit cards for bad credit, you’re not alone. A lot of business owners have had to rebuild their credit after a

financial setback. It can be tough, but it’s not impossible.

In this blog post, we’ll talk about how to get a business credit card when your credit is less than perfect. We’ll also discuss some of the best business credit cards for bad credit available right now.

So read on to learn more!

1.How good is your credit?

Your credit score is a 3-digit number that reflects your creditworthiness. It’s based on your credit history and the information in your credit report. The higher your score, the lower the risk you pose to lenders.

A good credit score is typically considered to be 680 or higher. Scores below 580 are generally considered to be bad credit.

If you’re not sure where your credit stands, you can check your credit score for free with a service like Credit Karma or Experian.

Once you know your credit score, you’ll have a better idea of which business credit cards for bad credit are right for you.

2. What is a bad credit score for a business credit card?

A bad credit score for a business credit card is typically below 580. If your credit score is below 580, you may have difficulty qualifying for a business credit card. However, there are a number of business credit cards for bad credit available, so don’t give up hope!

3. What are business credit cards for bad credit and why do you need them?

There are a few key reasons why having a business credit card can be beneficial, even if you have bad credit. First, it can help you build up your credit score.

If you use the card responsibly and make your payments on time, you can improve your credit rating over time. This can be helpful if you ever need to apply for a loan or line of credit in the future.

Second, a business credit card can give you access to rewards and perks that can save you money. Many cards offer cash back or points that can be redeemed for travel, merchandise, or other benefits.

And finally, a business credit card can provide peace of mind in the event of an emergency. If you have cash flow issues or need to make a large purchase unexpectedly, having a business credit card can help you get through tough times.

So even if you have bad credit, getting a business credit card can be a good idea.

4. What is a line of credit?

A line of credit is a type of loan that allows business owners to borrow up to a certain amount of money, as needed. It’s similar to a credit card, but the funds are available in one lump sum.

Lines of credit can be helpful for business owners who need quick access to cash or who want the flexibility to  borrow only what they need.

Additionally, business lines of credit often come with lower interest rates than other types of loans, making them a more cost-effective option.

If you think a business line of credit might be right for you, be sure to shop around and compare offers from different lenders. You can also check out our list of the best business lines of credit to get started.

5.What is the difference between a secured card and an unsecured card?

Secured cards are backed by a security deposit, while unsecured cards are not.

When you apply for a secured credit card, you’ll need to provide a security deposit. This deposit will be used as collateral in case you default on your payments.

Unsecured credit cards do not require a security deposit, but they come  with higher interest rates and may have lower credit limits.

If you’re not sure which type of business credit card is right for you, be sure to compare the features and benefits of each before making a decision.

6. How to get a business credit card when your credit is less than perfect.

If you’re thinking about getting a business credit card, but your credit is less than perfect, there are several steps you can take to improve your odds of being approved.

First, be sure to do some research ahead of time and choose a card that matches your specific needs. Consider things like the annual fee, interest rates, rewards programs, and other features.

Additionally, it is critical to have a good repayment history with any existing credit accounts – including any that may appear on your personal credit reports.

And finally, try to build up some extra cash reserves or collateral to put down as security in the event that you aren’t approved right away.

As long as you approach the application process with confidence and follow these tips, you should be able to get a business credit card even with less-than-stellar credit.


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7. The best business credit cards for bad credit available right now

If you’re looking for a business credit card that is designed specifically for those with bad credit, there are a few good options to choose from.

#1.Best secured business credit card for bad credit

Here are a few of the best Secured business credit cards for bad credit:

Union Bank Business Secured Visa Credit Card: Best business secured credit card for low APR

Union Bank Business Secured Visa Credit Card (1)
Union Bank Business Secured Visa Credit Card

Looking for the best business secured credit card with low interest rates and high credit limits? Look no further than the Union Bank Business Secured Visa Credit Card.

With a range of credit limits from $500 to $25,000 depending on your security deposit, this card offers great flexibility for businesses of all sizes.

And with an annual fee of just $30 and interest rates as low as 13.99 percent variable, it’s a great choice for anyone looking to keep their finances in check.

Plus, the Union Bank Business Secured Visa Credit Card also reports your credit activity to consumer credit reporting agencies, helping you build or restore your good credit score over time.

So if you’re looking for a secure way to manage your business finances, look no further than the Union Bank Business Secured Visa Credit Card!

OpenSky Secured Visa Credit Card

OpenSky Secured Visa Credit Card
OpenSky Secured Visa Credit Card

As a business owner with less-than-perfect credit, you may be wondering which secured credit card is right for you.

With its easy application process and generous credit line increase after just 6 months, the OpenSky Secured Visa Credit Card is an excellent choice for those looking to improve their finances without sacrificing convenience or security.

This card features a low APR of just 17.64% variable APR, as well as many other benefits like no annual fee and no foreign transaction fees.

Additionally, it provides peace of mind through comprehensive reporting with all three major credit bureaus, so you can rest assured that your purchases are always being tracked and monitored in a responsible manner.

Whether you’re just starting out in business or looking to rebuild your credit, the OpenSky Secured Visa Credit Card is the perfect tool to help put you on the path toward financial success.

Capital One Platinum Secured Credit Card

Capital One Bank Platinum Visa for Rebuilding Credit
Capital One Bank Platinum Visa for Rebuilding Credit

Capital One Platinum Secured Credit Card is a great way to rebuild credit. It has no annual fee and qualifies with limited/bad credit.

Also, there are no foreign transaction fees. The credit card reports to three major credit bureaus (Experian, TransUnion, and Equifax), so your payment history is reported to all three credit bureaus.

The capital one business credit card for bad credit requires a refundable security deposit starting at $49 to get a $200 initial credit line.

Also, there is $0 Fraud Liability, which means you’re not responsible for unauthorized charges.

Your credit line could also be increased after 6 months of on-time payments. Overall, the Capital One Platinum Secured Credit Card is a great way to rebuild your credit.

First National Bank Business Edition® Secured® Visa Card

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

If you’re looking for a secured business credit card with 0% APR for 12 billing cycles, the First National Bank Business Edition® Secured® Visa Card is a great option.

This card also offers 1.5% cash back on all purchases, making it a great choice for businesses that want to earn rewards on their everyday spending.

Plus, there’s no annual fee, so you can keep more of your hard-earned cash in your pocket. And with credit needed ranging from bad to better, this card is accessible to a wide range of businesses.

So if you’re in the market for a secured business credit card, the First National Bank Business Edition® Secured® Visa Card is a great option to consider.

Secured Sable ONE Credit Card

Secured Sable ONE Credit Card
Secured Sable ONE Credit Card

If you are looking for a secure credit card that is geared towards those with a limited or bad credit history, the Secured Sable ONE Credit Card may be the perfect option.

With a low minimum security deposit of just $10, no annual fees, and a generous 10.49% variable APR on purchases, the Secured Sable ONE Credit Card offers a wide range of benefits for those looking for financial security.

Plus, with your initial credit limit ranging up to $10,000, this card makes it easy to manage your spending and pay off any outstanding balances over time.

Additionally, unlike many other secured cards that require an SSN or US credit history in order to be approved, the Secured Sable ONE Credit Card does not require either of these things from non-US citizens and allows them to build their credit score without restriction.

However, some potential downsides include foreign fees and no rewards bonus options.

Still, if you are ready to prioritize your financial health and responsibility while building up your credit score, then the Secured Sable ONE Credit Card may be right for you!


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#2. Best unsecured business credit cards for bad credit.

Here are some business credit cards that don’t require a deposit:

Credit One Bank Unsecured Platinum Visa

If you are struggling with average credit, the Credit One Bank Unsecured Platinum Visa is a great option. With its generous 1% cash back rewards on eligible gas, grocery purchases and mobile phone service, internet, cable and satellite TV services, this card offers fantastic value for money.

Plus, it has a minimum credit limit of just $300, making it accessible to a wide range of people. Other key features include zero fraud liability, free monthly access to your Experian credit score, and automatic reviews for increased credit line.

However, there are some downsides to consider as well. For example, the annual fee can be high for some users and customer service can sometimes be less than stellar.

Overall though, if you’re looking for a good option to help boost your average credit rating, the Credit One Bank Unsecured Platinum Visa is a solid choice.


 #3. Best Startup Business Credit Cards for Bad Credit

Here are some business credit cards that are best for startup business owners with bad credit:

Sam’s Club Business Mastercard

If you are a startup business owner, then the Sam’s Club Business Mastercard is an excellent choice for you. With a maximum cashback rewards rate of up to 5%, this card lets you earn rewards on all of your business purchases.

It also has a low purchase APR, ranging from 15.65% – 23.65% Variable, and no annual fee, meaning you can save money on fees while maximizing your rewards earnings.

Plus, unlike many other credit cards for startups, the Sam’s Club Business Mastercard does not require good or better credit for approval, making it easier for you to qualify for the card.

Additionally, this card does not charge any foreign transaction fees on international purchases, making it a great option for business owners who travel or do business with partners overseas.

So if you are looking for a high-rewarding credit card to meet the needs of your startup business, look no further than the Sam’s Club Business Mastercard.

SVB Innovators

If you’re an entrepreneur looking for the best business credit card for bad credit, look no further than SVB Innovators. This card offers 2 points for every dollar spent, and the points can be used to build a positive credit on your statement.

Additionally, this card has no annual fees and features an introductory APR of 0%, making it a great option for new businesses looking to save money on interest payments. Whether you’re just starting out or have been in business for years, SVB Innovator is the perfect choice for entrepreneurs with good or bad credit.

So why not apply today and see how SVB Innovators can help your business succeed?

Stripe

If you own a retail or restaurant business, Stripe is the perfect tool for you. With just a simple Stripe account, you can get a Stripe credit card that offers 2% cash back on all your purchases and $150 credit for Google ads.

In addition, the account is free to set up and comes with no annual fee, so you can enjoy all of its benefits without having to worry about additional costs.

And if you are currently using Shopify for your e-commerce needs, Stripe even offers 3 months of free service.

Whether you are trying to streamline your day-to-day operations or looking for an affordable way to grow your business, Stripe has everything you need to succeed.


Read More: guaranteed approval credit card for Bad Credit


#4. Best small business credit card for bad credit

If you have bad credit and are looking for a small business credit card, then below are some of the best options available to you:

Capital One Spark Classic for Business

The Capital One Spark Classic for Business is a good choice for a small business credit card if you have bad credit. This is because there is no minimum credit score required for consideration of approval.

In addition, the card offers a simple rewards program of 1% cash back on every purchase you make. There is no annual fee and the standard balance transfer fee for this card is $0.

However, there are some potential downsides to this card to be aware of.

First, there is no sign-up bonus offered. Second, your personal credit history could be affected by using this card since, transaction is reported to credit bureaus that determine your consumer credit score. Finally, the Cash Advance APR for this card is 27.24%.

Overall, the Capital One Spark Classic for Business is a good option for a small business credit card if you have bad credit.

Wells Fargo Business Secured Credit Card

If you are looking for the best small business credit cards for poor credit, then the Wells Fargo Business Secured Credit Card is an excellent choice.

With 1.5% cash back on every $1 spent, a generous sign-up bonus of 1,000 points when your company spend is $1,000 or more in any monthly billing period, and no annual fee, this card offers many great features for businesses with less-than-perfect credit.

Other perks include zero liability protection, no foreign transaction fees, and chip technology that allows you to make purchases both nationally and internationally with ease.

Additionally, your employee gets cards at no additional cost make it easy to track company spending and help prevent fraud.

While there may be some downsides to this card such as the relatively low credit line of $500-$25,000 across all of your Wells Fargo accounts and the potential for confusion when choosing between cash back or rewards programs.

Overall it is an excellent choice for businesses in need of a secured credit card. Best Secured Personal Credit Card.

Discover it® Secured Credit Card

If you are a small business owner looking for a credit card that will help you earn rewards while minimizing your costs, look no further than the Discover it® Secured Card.

This card offers 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, plus 1% cash back on all other purchases – automatically.

There is no annual fee with this card, and you also have the peace of mind of knowing you can access your free FICO score each month.

What’s more, there is no credit score required to apply, so anyone can qualify. Additionally, the Discover it® Secured Card is accepted nationwide by 99% of businesses that take credit cards.

And if you’re worried about not being able to transition to an unsecured line of credit down the line, don’t be; automatic reviews starting at 7 months will assess whether you are ready for unsecured status and allow you to get your deposit back.

So if you are looking for a secure way to help boost your business earnings through rewards and keep your costs low, look no further than the Discover it® Secured Card.


#5. Best No Personal Guarantee Card For Bad Credit

If you are looking for a business credit card that does not require a personal guarantee, Brex 30 Card for Startups is an excellent choice. Here are all details.

Brex 30 Card

Looking for a card that offers an exceptional experience for startups and well-funded businesses?

Look no further than the Brex 30 Card. This card is designed to give you the freedom and flexibility you need as your business grows and evolves.

With no personal guarantee required and dynamic credit limits that move in tandem with your company’s cash flow, this card is the perfect choice for entrepreneurs who want peace of mind knowing their business is protected.

And with a generous signup bonus, numerous perks and discounts, plus instant virtual card access, the Brex 30 Card has everything you need to take your business to new heights.

So if you’re looking for a truly hassle-free experience that puts you in control of your company’s finances, look no further than the Brex 30 Card.


Alternatives to business credit cards for bad credit

If you are looking for an alternative to business credit cards for bad credit, there are a few options available. Here are the three best alternatives.

  • Online loans: For business owners with less-than-perfect credit, online loans can be a great alternative to business credit cards. There are a number of online lenders that cater to businesses with bad credit, and these loans can offer flexible terms and competitive rates. One thing to keep in mind with online loans is that they typically have shorter repayment terms than business credit cards, so you’ll need to make sure you can afford the monthly payments.
  • SBA loans: If you’re looking for a government-backed loan option, SBA loans are a great choice. These loans are available through the Small Business Administration and can offer competitive rates and terms for business owners with bad credit. One thing to keep in mind with SBA loans is that they typically have stricter requirements than business credit cards, so you’ll need to make sure you can meet the eligibility criteria.
  • Microloans: For business owners in need of a smaller loan option, microloans can be a great alternative. These loans are typically available through community development organizations and can offer competitive rates and terms. One thing to keep in mind with microloans is that they typically have shorter repayment terms than business credit cards, so you’ll need to make sure you can afford the monthly payments.
  • Business cash advances: Another alternative to business credit cards for bad credit is business cash advances. These loans are typically available through online lenders and can offer quick funding for business owners in need of fast cash. One thing to keep in mind with business cash advances is that they typically have high interest rates and fees, so you’ll need to make sure you can afford the monthly payments.
  • Crowdfunding: If you’re looking for a more creative financing option, crowdfunding can be a great alternative to business credit cards for bad credit. With crowdfunding, business owners can raise funds from a group of investors in exchange for equity in their company. One thing to keep in mind with crowdfunding is that it can be a time-consuming process, so you’ll need to make sure you have the time and resources to devote to a successful campaign.

The above are some of the best alternatives to business credit cards for bad credit. While business credit cards can be a great option for business owners with good credit, there are a number of other options available for business owners with bad credit. So if you’re looking for an alternative to business credit cards for bad credit, be sure to consider the above options.


How do you get a credit card with poor credit if you don’t have any?

There are a few ways to get a credit card with poor credit if you don’t have any. Here are the step-by-step instructions:

Know your credit score: The first step is to know your credit score. This will give you an idea of where you stand and what options are available to you.

Check for pre-qualified offers: The next step is to check for pre-qualified offers from credit card issuers. This can be a great way to get a sense of what cards you may be eligible for.

Find the right card for your business: Once you know your credit score and have checked for pre-qualified offers, you can start to look for the right business credit card for your business. There are a number of factors to consider when choosing a business credit card, so be sure to compare features and benefits before you apply.

Apply for the card: Once you’ve found the right business credit card for your business, the next step is to apply for the card. Be sure to fill out the application carefully and provide all of the required information.

Wait for approval: The final step is to wait for approval from the credit card issuer. Once you’ve been approved, you’ll be able to start using your business credit card.

Use your company credit card to its full potential: Once you have your business credit card, be sure to use it to its full potential. This means making timely payments and using the card for business expenses only.

Following these steps will help you get a business credit card with poor credit if you don’t have any. Be sure to compare offers and choose the right card for your business before you apply.

How to Choose a Business Credit Card for Bad Credit.

If you’re looking for a business credit card but have bad credit, it can be difficult to know where to start. There are a number of factors to consider when choosing a business credit card, so be sure to compare features and benefits before you apply.

Here are some of the things to look for when choosing a business credit card for bad credit:

Credit limit: One of the first things to look for is a business credit card with a high credit limit. This will give you more flexibility when it comes to making purchases and can help you build your business credit over time.

Interest rate: Another important factor to consider is the interest rate on the business credit card. Be sure to compare rates from different issuers to find the lowest rate possible.

Rewards: Another thing to look for is a business credit card with rewards. This can be a great way to save money on business expenses, so be sure to compare offers and choose the card that best suits your needs.

Make sure any card you’re considering reports to all three credit bureaus: Be sure to check that any business credit card you’re considering reports to all three credit bureaus. This will help you build your business credit over time and can improve your chances of getting approved for future loans and lines of credit.

Avoid annual fees: Lastly, be sure to avoid business credit cards with annual fees. This can eat into your business profits, so be sure to choose a card that has no annual fee.

The above are some of the things to look for when choosing a business credit card for bad credit. Be sure to compare offers and choose the right card for your business before you apply.

Tips for using business credit cards responsibly

When you get a business credit card, be sure to use it responsibly. This means making timely payments and using the card for business expenses only.

Following these tips will help you get the most out of your business credit card and improve your business credit score over time.

Pay your bill on time: One of the most important things you can do is to pay your business credit card bill on time. This will help you avoid late fees and interest charges, and can also help you improve your business credit score over time.

Keep your balance low: Another thing to keep in mind is to keep your business credit card balance low. This will help you avoid high interest charges and can also help improve your business credit score.

Pay in full each month: If you can, be sure to pay your business credit card balance in full each month. This will help you avoid interest charges and can also help improve your business credit score over time.

Monitor your account: Be sure to monitor your business credit card account regularly. This will help you catch any fraudulent charges and can also help you keep track of your spending.

The above are some tips for using business credit cards responsibly. Be sure to use these tips to get the most out of your business credit card and improve your business credit score over time.

Now, we have come to the end of this blog post. So, lastly, let me remind you of the Pros & Cons of business credit cards for bad credit.

+Pros:

  • Business credit cards can help you build your business credit over time
  • Business credit cards can offer rewards and perks that can save you money on business expenses
  • Business credit cards can help you monitor your spending and catch any fraudulent charges
  • Tax benefits

-Cons:

  • Business credit cards can have high interest rates
  • Business credit cards can have annual fees
  • Business credit cards can have high credit limits which may be difficult to manage
  • Employees may abuse business credit cards if not monitored carefully
  • Can affect personal credit score.

So, these are the Pros & Cons of business credit cards for bad credit. Be sure to weigh these factors before you apply for a business credit card.


Conclusion

Business credit cards for bad credit can be a great way to help you build your business credit over time. Be sure to compare offers and choose the right card for your business before you apply. Use the tips in this blog post to help you use your business credit card responsibly and improve your business credit score over time.

Do you have any business credit cards for bad credit? Let us know in the comments below.


Methodology for Selecting the Best Business Credit Cards for Bad Credit

When it comes to business credit cards for bad credit, there are a lot of factors to consider. Mycreditcardclub.com analyzed dozens of credit cards marketed toward subprime borrowers and came up with the following methodology for selecting the best business credit cards for bad credit.

Factors taken into consideration for each category included the annual fee, any monthly fees, security deposit requirements, annual percentage rate (APR) and other benefits that come with card ownership like rewards and other extras.

By taking all of these factors into account, you can be sure that you’re getting the best possible deal on a business credit card for bad credit.

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