Sometimes people feel like they’re caught in a cycle they can’t fix. You need a credit card to start building credit history, but it’s hard to qualify for a credit card if you have no credit. So, how do you get a credit card if you don’t have credit? There are credit cards designed to help businesses build and expand their credit.
We’ve reviewed a number of business credit cards and financing and loan offers from our partners in an effort to give you a variety of different options to choose what’s right for your business.
Secured business credit cards
Wells Fargo Business Secured Credit Card
A secured credit card is a great way for businesses with low or no credit to start building credit. This card has a credit line ranging from $500 to $25,000.
It will require a security deposit but functions like a regular credit card, including a rewards program.
BBVA Secured Visa Credit Card
Another option for a business to build or rebuild its credit. This card waives its yearly fee of $40 for the first year and requires a minimum deposit of $500, which can be increased in increments of $100. You can get free cards for your employees and participate in a variety of rewards programs.
First National Business Edition Secured Visa
When you apply for the First National Business Edition Secured Visa, you can request your credit limit between $2000 and $100,000 and you’ll need a security deposit of 110% of that amount. There’s a $39 yearly fee and you’ll get rebates via Visa SavingsEdge credited to your account when you shop at participating merchants (gas, travel, electronics, etc.)
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