Find business credit cards with easy approval
Not all small business credit cards require you to have a perfect credit score to get easily approved.
You can get easy approval on most business credit cards if you have an excellent credit score. The problem comes for those who don’t have a credit history or who’ve had credit difficulties in the past and now want to rebuild their score.
Many credit card providers will outright deny applicants with poor credit – if you find yourself in this boat, there are a few solutions.
Although you aren’t guaranteed approval, these options may be your best bet:
- Get a prepaid business credit card.
- Apply for an unsecured credit card marketed toward those with bad credit.
- If a provider offers a secured business credit card, this can be a viable solution.
- Having good personal credit can help, as the provider will weight it in when assessing your application.
- Research other avenues of funding such as business loans, lines of credit and start-up funding options.
Each of these types of credit comes with its own perks and downsides, but since your options may be limited due to your credit history, these cards can help you manage your business finances and potentially build your credit score until you can qualify for a better card.
If you have a poor credit score, you’ll likely have to choose between the following options:
- Get an unsecured card for low credit borrowers. Look for a business credit card that is tailored toward those with poor or no credit. You’ll likely end up with a low credit limit and an APR on the higher end, but you may be able to earn rewards and reap the benefits of complimentary insurance and more.
- Using your personal credit score. If you have a good personal credit score, you may be able to use yourself as a guarantor for your business card. While this can help you get approved for a better business card, you put your personal credit and finances at risk with this approach.
- Get a secured credit card. If your credit score isn’t perfect, your best option for easy business card approval is to ask a provider if they offer a secured business card. Your deposit acts as your credit line, which gives you full control over your maximum purchasing limit. Most secured cards can help you build your credit, which in turn allows you to upgrade to an unsecured card down the road.
- Get a prepaid business card. If you don’t want to be the personal guarantor for your business or you don’t want your card activity to reflect on your personal credit, opt for a prepaid card. You can fund your card whenever you need to, however you won’t build your business credit with a prepaid card.
- Look into other forms of funding. If interest rates and fees are too high or you can’t find a card you’re eligible for, you can look into other types of business funding such as a line of credit, a business loan or startup grants.
The following business credit cards accept applicants with fair to excellent credit. Compare each card to see if you meet the eligibility requirements before applying.
The easiest business credit cards to get tend to fall into three categories: prepaid cards, secured cards and unsecured cards tailored toward those with low credit. Within these categories, you can choose the credit card that’s right for your business needs by comparing the APRs, annual fees, rewards, complimentary extras and more. While a prepaid card can help you manage business expenses, it won’t impact your credit score whatsoever.
If you’re still not sure which credit card fits your needs, compare more business credit cards here until you find the right one.
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