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Blue Business Card
With the Blue Business Cash Card, after spending $5,000 on qualifying purchases within the first six months, you’ll receive a $250 statement credit. This card is designed to boost your business expenses while offering a nice incentive early on.
Business Unlimited
The Chase Ink Business Unlimited card is perfect for entrepreneurs looking to simplify their finances. It offers straightforward rewards and focuses on helping you grow your business without the complexities of typical rewards programs or gift cards.
Open Sky Credit Card
OpenSky Secured Visa Credit Card is suitable for business owners building their credit, especially those with less-than-ideal credit history. It helps establish or rebuild credit while offering manageable credit limits.
Wells Fargo Secured
The Wells Fargo Business Secured Card is a great choice for new businesses. It provides an easy way to build credit with a credit limit of up to $25,000 and no annual fee, helping small businesses establish a financial foundation.
First Progress Mastercard
The First Progress Mastercard is a versatile credit card offering many features. Plus, it starts with a low variable introductory APR from just $29, making it accessible for many new business owners.
Embarking on a new business venture can be thrilling, filled with the promise of growth and success. There are countless ideas to explore, which makes this an exciting period for entrepreneurs. However, the key to turning your vision into reality lies in securing sufficient startup capital. Many small businesses face closures each year—about one in twelve—mainly due to cash flow problems, especially when founded by individuals with no established credit history. Recognizing this challenge, numerous leading banks provide special business credit card options tailored for startups and entrepreneurs in similar situations. These cards often feature quick approval processes, low interest rates, and sometimes no annual fees, making them an attractive option for new business owners eager to establish credit and manage cash flow effectively. Let’s delve into some of the top options available today.
What Are the Top Startup Business Credit Cards for Those with No Credit?
The following list highlights some of the best startup business credit cards available in the market for individuals with little to no credit history.
1. American Express Blue Business Cash™ Card.
Ideal for quick approval decisions, often within 30 seconds or less.
Expert’s Advice
Blue Business Card is a great overall choice for startups without established credit. In a time when obtaining business credit can be difficult, this card provides a viable option to begin building your credit profile for future financing opportunities.
Best For
Overall
Annual Fees
$0
Promotion
When it comes to earning cashback rewards, the Blue Business Cash Card from American Express is a top choice. If you spend $5,000 on qualifying purchases within the first six months of opening your account, you’ll receive a $250 statement credit. Additionally, spending at least $10,000 in your first year will earn you another $250. This card is ideal for startups and small businesses seeking a straightforward, no-annual-fee credit card during its first year. After that, the annual percentage rate ranges from 13.24% to 19.24%, depending on your credit history and other factors at the time of application. The card provides greater spending flexibility, allowing your credit limit to adjust based on your payment history and overall usage, making it suitable for companies that need to make larger purchases beyond a fixed credit limit.
Features include coverage for property damage or theft of a rental car in designated areas, travel benefits like coverage for trip cancellations, interruptions, baggage delays, and more. Connecting with effective business accounting software such as QuickBooks is simple, enabling you to monitor and manage your expenses online, generate reports, and stay within your budget.
2. Chase Ink Business Unlimited.
Best suited for small business owners looking for a card with no annual fees, the Chase Ink Business Unlimited is designed to support both the early growth stages and expanding operations. This card offers a simple rewards structure with no annual fee, allowing you to maximize your benefits without added costs. The company has noted that this card can help businesses scale efficiently by providing consistent rewards and flexible spending options.
Expert’s Advice: Business Unlimited is beneficial whether you’re just starting out or looking to grow, thanks to its straightforward rewards program and lack of annual fees. It enables you to use the card freely without constantly worrying about maximizing earnings. The card also features a circular progress indicator to visually track your rewards progress, making it easier to stay motivated and informed about your spending and benefits.
Suitable For entrepreneurs seeking simple rewards programs that support business growth without extraneous features. This card is straightforward and easy to use for everyday business expenses.
No Annual Fees
Annual Fees are entirely waived, meaning you can focus on growing your business without worrying about extra costs.
$0
Promotion opportunities include exclusive offers like the Business Unlimited Card, which can provide additional rewards and benefits tailored for your business needs.
The Chase Ink Business Unlimited is perfect for small business owners who want a straightforward rewards card that emphasizes growth over complex reward structures or gift cards that don’t significantly benefit their bottom line.
The card has no annual fee and offers a flat 1.5 percent cashback on all eligible purchases. Plus, if you spend $7,500 within the first three months of account opening, you’ll earn a $750 cashback bonus, making it an attractive option for new businesses looking to maximize early spending.
Because it features no category restrictions, this card is easy to manage and ideal for general business expenses. However, if your business spends heavily in certain categories like travel or office supplies, this might not be the best fit since it lacks targeted rewards in specific areas.
Features include: employee cards at no extra cost that allow setting individual spending limits, helping you control expenses and earn rewards faster. Purchase protection and fraud security help safeguard your transactions, and with no annual fee, you can keep more profits in your business. The early sign-up bonus of up to $750 cashback makes it especially appealing for startups.
3. OpenSky® Secured Visa® Credit Card
Best for those who want a simple application process without a credit check.
The OpenSky® Secured Visa® Credit Card is an excellent choice for individuals with poor or rebuilding credit, including startup business owners. It’s designed to give a straightforward application process, often without requiring a credit check, making it accessible for those with less-than-ideal credit histories. This card helps you rebuild your credit while providing a reliable credit option for your business needs.
Expert Advice: The OpenSky Credit Card is especially suitable for entrepreneurs starting with bad credit or working to repair their credit scores. It offers an accessible way to establish or rebuild your credit profile, serving as a valuable tool for new business owners to get their financial footing solid.
The card features include no credit check during approval, making the application simple; it’s accessible even for those with poor credit. This flexibility makes it a practical choice for startups or individuals seeking to improve their credit standing.
Best For
No Credit Check
Annual Fees
$35
Promotion
OpenSky Secured Visa Credit Card is an excellent choice for business owners looking to build their credit history. This card stands out because it allows applicants with poor credit to apply, making it accessible for those with low credit scores. OpenSky believes everyone should have the opportunity to succeed in their business, which is why your credit line depends on a refundable deposit you make, starting at around $200. With an annual fee of only $35, this card provides a cost-effective way to improve your credit profile.
The card offers several beneficial features: you can establish credit quickly by opening an account with the deposit you contribute, and your credit score can improve through timely payments that demonstrate responsibility. Many clients who started with no credit score have managed to build a record within just six months, showing how this card can help boost your creditworthiness efficiently.
Wells Fargo’s secured business card is another great option for entrepreneurs aiming to give their company a head start. It provides a credit line without any annual fee, making it an economical way to kick off your business’s credit history. This card is particularly suitable for new businesses that need to establish a solid financial foundation and build credit responsibly.
Startups
Annual Fees
$25
Promotion
The Wells Fargo Business Secured Card helps startups get a quick credit boost by providing a line of credit up to $25,000. It offers protection against unauthorized charges with zero liability, giving you peace of mind. This card has no annual fee and also waives foreign transaction fees, making it an excellent choice for traveling entrepreneurs. Even new businesses or those with past credit issues are likely to qualify, making this a versatile option for small business owners, regardless of their credit history.
Features:
- Manage your expenses easily with online spending reports that help you track your account activity.
- Choose between earning cash back or rewards points based on what benefits your business most.
- Stay protected from fraud with zero liability coverage for unauthorized charges.
- You can add up to 10 employee cards at no extra cost, each with customizable spending limits.
5. First Progress Platinum Prestige Mastercard® Secured Credit Card
Best suited for those seeking a secured credit card with a refundable deposit.
Expert’s Advice
I recommend considering the First Progress Mastercard if you’re looking for a card with a very low annual percentage rate for your business purchases. It’s particularly beneficial if you have no or limited credit history.
Best For
Refundable Deposit
Cost
$29
Yearly Savings
Yes — Save $398 annually
Special Offer
The First Progress Mastercard offers a comprehensive suite of features. It begins with an affordable initial fee of $29 and includes a variable introductory APR that starts at a low rate, making it an attractive option for many users.
The First Progress Platinum Prestige Mastercard® Secured Credit Card is ideal for those seeking more control and convenience. It does not require a minimum credit score because your credit limit is secured by a refundable deposit. This card can function as a fully operational account with a revolving credit line. To ensure smooth monthly payments, you’ll need a bank account to handle your transactions, preventing additional fees from third-party payment providers.
The application process for the Capital One® Spark® Classic for Business takes roughly 10 minutes, and you’ll typically receive a response within 30 seconds. This card is a great choice because it carries no annual fee and does not require excellent credit for approval. There is no credit check involved, which makes it accessible for many entrepreneurs. Responsible usage of this card can help you build and improve your business credit score.
Features include earning cashback rewards without an expiration date, setting up AutoPay to automate your payments, receiving detailed expenditure reports to simplify budgeting and tax preparation, and having an account manager to assist with payments and resolve issues. These benefits make it a practical tool for managing business expenses effectively.
The Brex Corporate Card tailored for startups is best suited for businesses that need to keep meticulous track of their spending. This card offers streamlined expense management, helping new companies stay organized and control their cash flow efficiently.
A Brex corporate card offers the best tools for managing expenses, higher credit limits, and detailed reporting features. It also provides a rewards program that surpasses many new business credit cards. With the ability to earn extra points on all types of spending, you’re equipped to handle unexpected business expenses easily. You can earn more points when using the card for rideshare services, dining out, business software solutions, and other common expenses. This card allows you to issue unlimited cards to your team members and set tailored spending limits for each individual, giving you better oversight of your company’s expenses.
Features of the Brex Corporate Card for Startups include Mastercard’s Zero Liability Protection, which safeguards against fraudulent transactions and other security risks. This setup ensures your personal credit stays separate from your business finances, removing personal liability concerns. The card can be used at popular services like Uber, Lyft, Seamless, and Grubhub, helping you maximize your spending power. Additionally, you have the option to trade your earned points for cryptocurrencies like Ethereum (ETH) and Bitcoin (BTC), allowing you to diversify your investment portfolio.
What Are Startup Business Credit Cards with No Credit?
These are specially designed small business credit cards tailored for entrepreneurs with little or no credit history. The top options in this category often include cashback rewards, global travel insurance, gas discounts, and other benefits that are especially beneficial for on-the-go business owners. While lacking credit used to be a significant obstacle, many lenders are now willing to give chances to new entrepreneurs. If you have no credit, applying for these types of cards is an effective way to enhance your business’s financial credibility. There are also credit cards available for those with poor credit, which might be worth considering if your score is low.
Features to Consider When Choosing a Startup Business Credit Card
The following points will help you evaluate different options to find the best card for your business needs:
1. Annual Fee
Most startup business credit cards with no credit or limited credit have a small annual fee, with some providers waiving it entirely for the first year. Banks often waive this fee initially to attract new customers, giving you a chance to test the card’s benefits. It’s essential to understand the costs involved once the first year ends and to decide whether keeping the card aligns with your business expenses and growth plans.
2. Rewards Programs
Different industries benefit from different types of rewards. Some cards offer cashback on purchases, while others provide points that can be redeemed for travel or other perks. Review what bonus points or cashback offers come with each card and consider how those benefits match your spending habits. If your business travels frequently, cards with travel privileges are advantageous. Conversely, if your expenses involve software, web development, or technology services, reward points could provide greater value.
3. Minimum Credit Requirements
Getting approved for a startup business card can be challenging if your credit score is low or nonexistent. However, some companies accept applications without the standard high credit score requirement (usually above 670). Knowing the minimum credit score needed helps narrow your options to those that are realistically accessible.
4. Welcome Bonus or Sign-Up Incentive
Many cards entice new customers with points, cashback, or travel miles after your initial purchases. Taking advantage of these bonuses can help offset initial costs, especially if the card has no annual fee in the first year. A generous bonus might even cover the expenses of your first business trip or initial purchases.
5. Additional Cards for Employees
If your team size is growing, obtaining extra credit cards for employees can be beneficial. Some startup credit cards include options for issuing supplementary cards, helping you manage and monitor team expenses efficiently.A limited number of additional cards are often available, with some options allowing you to request 1-5 free cards for employees or contractors who frequently travel for your business. This feature is very useful because all their purchases will count towards your overall spending, helping you earn rewards more quickly.
Look into what security features come with this account, especially if you’re starting with no or bad credit. Typically, each card should provide some level of fraud protection and support for online shopping. Some companies go beyond by setting up multi-factor authentication or allowing certain purchases with pre-approved requests, adding extra layers of security.
Interest rates on startup business credit cards can vary, often being higher than standard rates because of the increased risk involved when issuing credit to someone without a strong credit history. It’s advisable to look for cards with low credit limits so you can control your expenses and prevent unnecessary spending. This approach helps keep debt manageable and minimizes additional fees and interest in the long run.
Some startup cards may have no preset spending limit, which can be advantageous if you expect to make larger or unpredictable purchases. However, if your expenses are mostly small, having a fixed limit can help prevent overspending on unnecessary items. If tight spending control isn’t needed, avoid cards with preset limits to maximize potential rewards in the first year.
Many startup cards also offer extra perks that are especially helpful for entrepreneurs and frequent travelers. These might include discounts at airports or restaurants, or no foreign transaction fees when using your card abroad—saving you money on international purchases. If you travel regularly, investigate how many points or cashback rewards are available for those expenses, as this can significantly benefit your business finances.
It’s vital to research the reputation of the issuing company too. Since many new companies may not have an extensive credit history, taking time to review their financial stability and customer feedback is wise. Look for reviews from other businesses that have used their cards to get a sense of the company’s reliability and service quality.
In most cases, you won’t be allowed to apply for additional accounts if you already have one, but some issuers might pre-approve your application based on your income and spending habits. Knowing what’s possible beforehand helps if you plan to open multiple accounts across different industries, making the process smoother.
Separating your personal finances from your business is crucial. Your personal credit score should remain unaffected by business card activity and vice versa. Ideally, activities on your business credit accounts won’t impact your personal report. Be cautious if opening or closing accounts at the same issuer, as it could trigger hard inquiries that harm your credit scores. Always use personal cards for non-business transactions and business cards for expenses like supplies or software purchases. Some cards also offer warranties on products bought through them, so follow the proper procedures when claiming those benefits.
Before applying for a business credit card with no credit, keep in mind that you’ll need to build your credit over time. Paying your bills on time each cycle is essential. Some banks offer fixed introductory APR rates, while others have variable rates—so understanding what you’re signing up for is important. Certain issuers require a personal guarantee, which means pledging your personal assets if your business can’t pay. These unsecured cards have pros and cons, so weigh these carefully.
Be aware that credit card companies often report your activity to credit bureaus, which can affect your personal or business credit scores. Many cards that don’t require a credit check only need your social security number to apply, making the process quick and straightforward, with approval chances high if you meet basic requirements.
In summary, the strongest startup business credit cards for those with no credit are designed to help you quickly expand your financial options and establish credit for your business. They’re ideal for entrepreneurs needing to cover expenses or individuals aiming to build their first credit line for future growth. Always research reviews and ask about fees and terms before committing, and consider trying a trial period if available to test the card’s suitability.
Some top options include:
– Chase Ink Business Unlimited: Ideal for small businesses seeking no annual fee.
– American Express Blue Business Cash: Fast approval—decisions often in 30 seconds.
– OpenSky Secured Visa: Simple application process without a credit check.
– Wells Fargo Business Secured Card: Good for jump-starting your business.
– First Progress Platinum Mastercard Secured: Refundable deposit required.
– Capital One Spark Classic: Secure online payment options.
– Brex Corporate Card for Startups: Excellent for expense management.
If your application is denied, don’t get discouraged—consider the other options listed. Each card offers different benefits, so choose the one that best aligns with your needs. What do you think? Which card would be the best for building your business credit? Share your thoughts in the comments below.
Further resources on StepThroughThePortal.com highlight that opening a business credit file can be one of the most beneficial steps for managing your finances and building credit. For detailed guidance, check out the article on how to establish a business credit profile.
This concludes the overview of startup business credit cards with no credit.