7 Best Startup Business Credit Cards With No Credit
If you own a startup business and are looking for some of the best business credit cards for startups with no credit, we have got your back. It is possible for startups with no credit to open a business credit card on the basis of the founder’s personal credit. Most card issuing companies prefer personal credit over business credit scores. There are so many perks of having business cards like cash-back rewards, travelling, a long intro APR period, or anything that suits the company’s needs. Those business owners who lack personal credit can go for a secure card to increase their credit score. After that, they can apply for business credit cards for startups and new businesses.
So, we have selected some of the best no-credit business cards for startups based on rewards and low annual fees. Some cards can help you build credit scores.
1: Wells Fargo Business Secured Credit Card:
If your business falls in the category of limited or poor credit, then you can consider this card. You don’t have to pay any annual fee and earn 1.5% cash back on all purchases. There are so many pros of this card such as reward points (1 point per dollar spent), no extra cost for up to 10 employee cards, and no need for foreign transaction fees. These cards have a credit line of $500- $25,000. The business owner can choose from cash back or rewards options. The card is based on chip technology and zero liability protection. There is no welcome bonus offered on this card. Overall, it is one of the top-recommended business credit cards for the owners having no or limited credit.
2: Chase Ink Business Unlimited®:
It is a suitable credit card for startups and new businesses having no credit history. The card offers a fixed cashback rate of 1.5% on all purchases and no annual fees. You can get a welcome bonus of $750 after spending $7,500 within the first three months. Business owners can get an interest-free financing experience for a year of card membership. They can get several rewards like cash back, gift cards, merchandise, or travel. Please note that the new business owners with good personal credit but no business credit history should apply for this card. It is the best pick for startup business credit cards with no credit.
3: Capital One® Spark® Classic for Business:
It is a suitable choice for business owners with fair and limited credit. It is known as a fair credit business credit card because it offers a fixed 1% cash back on all purchases in all spending categories. Its regular APR is a bit high, around 27%. So, ensure payment of your balance every billing cycle. You should responsibly handle this card as your payment history is reported to the major business credit bureaus. If you use it carefully, it can help you build your business credit. Another advantage is that employee cards are issued for free.
4: Brex Card:
If your business belongs to the industries like e-commerce, life sciences, and tech, Brex card can be suitable for you. You can get great reward offers after purchasing conference tickets, lab materials, or software subscriptions. Apply for this card easily online and get a virtual card within 5 minutes and the physical card is delivered by mail. There is no need for foreign transaction fees and personal liability deposits. But you should know that this card requires a Brex Cash account. The Brex business card is of two types:
- Paid Daily – It can be used as a debit card and the amount is paid from your Brex Cash account.
- Paid Monthly – It acts like a charge card where you have to pay your full balance every month.
Overall the Brex Card is a good option for business cards without a personal guarantee.
5: American Express Blue Business Cash:
Among the business credit cards for startups and new businesses, this card is the best for easy cash-back rewards. You can earn up to 2% of cash back on all purchases up to $50,000 per year and 1% cash back automatically credits to your statement. Moreover, no interest is applied to the purchases for a year after opening the account. The American Express Blue Business Cash card offers expanded buying power. It means you can spend beyond your credit limit. The amount beyond the credit limit is not unlimited and it depends on your credit score, payment history, and other factors. There is no annual fee and zero intro APR, but they charge foreign transaction fees. The best thing is that the card is ready to use instantly after approval.
6: American Express Blue Business® Plus:
With no annual fee and 0%, introductory APR is best for points-based rewards. You can earn 2X Membership Rewards points on business purchases of $50,000 in a year and 1 point per dollar afterwards. If you spend $3,000 in eligible purchases within the first three months, you can earn 15,000 reward points. These reward points can be used for gift cards, flights, hotels, merchandise, or online stores through PayPal. The card also provides the Expanded Buying Power to new businesses but it’s not unlimited.
7: Chase Ink Business Preferred® :
In the list of startup business credit cards with no credit, Ink Business Preferred Credit Card is the best for getting lucrative credit limits based on your personal credit. You can get a good introductory bonus and travel rewards at a lower annual rate of $95. You can earn reward points that can be redeemed for travel, gift cards, cash back, and more. These points won’t expire till your account is open. The card offers zero personal liability, cellphone protection, and trip cancellation insurance.
You should consider all the pros and cons and then decide on a suitable credit card for your startup with no credit. Compare all the options carefully according to your requirements, whether it is building credit or earning rewards.
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