BEST OF

Best Secured Business Credit Cards of February 2023

Jan 24, 2023

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For entrepreneurs with bad credit, a secured business credit card is a good steppingstone to a more traditional small-business credit card. Secured cards require a cash security deposit, which usually dictates the size of the credit line.

Many secured business card issuers report payment history to business credit bureaus, so responsible usage will strengthen your business credit rather than your personal credit.

Consider a personal secured card if you're trying to improve your personal credit score. You need a personal FICO score 690 or higher to qualify for most business credit cards.

All of our selections for the best secured business cards are chosen by our editorial team, which independently evaluates and rates cards based on fees, rewards rates and redemption options, among numerous other factors.

Note: Some of our selections can be applied for through NerdWallet, and some cannot. Below, you’ll find application links for the credit cards from our partners that are available through NerdWallet, followed by the full list of our picks.

NerdWallet's Best Secured Business Credit Cards of February 2023

Best Secured Business Credit Cards

Our pick for

Secured credit card to improve business credit

Annual fee

$39

Intro APR

N/A

Regular APR

23.99% Variable

Recommended Credit Score

Pros

  • Qualify with limited / bad credit

Cons

  • Has annual fee

  • No rewards

  • High APR

  • Request your own credit limit between $2,000 and $100,000 (multiples of $50), when you apply, subject to credit approval.

  • Earn interest on your security deposit.

  • Variable 23.99% APR on purchases and balance transfers based on the Prime Rate.

Read full review

Our pick for

Secured credit card to improve personal credit

Apply now

on Capital One's website

Capital One Quicksilver Secured Cash Rewards Credit Card

4.9

NerdWallet rating 
Apply now

on Capital One's website

Annual fee

$0

Intro APR

N/A

Regular APR

29.74% Variable APR

Recommended Credit Score

Pros

  • Qualify with limited/bad credit

  • Reports to the three major credit bureaus

  • Earns rewards

  • No minimum redemption amount

  • Rewards don't expire

  • No annual fee

Cons

  • High APR

  • No new cardholder bonus offer

  • No bonus categories

  • No annual or hidden fees, and you can earn unlimited 1.5% cash back on every purchase, every day. See if you're approved in seconds

  • Put down a refundable $200 security deposit to get a $200 initial credit line

  • Building your credit? Using a card like this responsibly could help

  • Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges

  • You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time

  • Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed

  • Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply

  • Monitor your credit score with CreditWise from Capital One. It's free for everyone

  • Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024

Read full review
Apply now

on Discover's website, or call 800-347-0264

Discover it® Secured Credit Card

5.0

NerdWallet rating 
Apply now

on Discover's website, or call 800-347-0264

Annual fee

$0

Intro APR

10.99% intro APR on Balance Transfers for 6 months

Regular APR

27.24% Variable APR

Recommended Credit Score

Pros

  • No annual fee

  • Reports to the three major credit bureaus

  • Qualify with limited/bad credit

  • Earns rewards

  • New cardholder bonus offer

Cons

  • Requires minimum deposit

  • High APR

  • No credit score required to apply.

  • No Annual Fee, earn cash back, and build your credit history.

  • Establish your credit line by providing a refundable security deposit of at least $200. That means a $200 deposit for a $200 credit line. Or a $500 deposit for a $500 credit line. Bank information must be provided when submitting your deposit, and the security deposit equals your credit limit.

  • Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.

  • Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.

  • Discover helps remove your personal information from select people-search websites. Activate by mobile app for free.

  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.

  • Click "Apply Now" to see terms and conditions.

  • View Rates & Fees
Read full review

Our pick for

Business card with no personal credit check

Apply now

on Ramp's website

Ramp Card

4.1

NerdWallet rating 
Apply now

on Ramp's website

Annual fee

$0

Intro APR

N/A

Regular APR

N/A

Recommended Credit Score

Pros

  • No annual fee or foreign transaction fees.

  • Simple, straightforward rewards.

  • No personal guarantee or credit check.

  • Direct integrations with popular tools and card-level spending controls and alerts.

Cons

  • Balance must be paid in full each month.

  • Not available to sole proprietors or unincorporated businesses.

  • Earn unlimited 1.5% cash back on all purchases.

  • No personal guarantee or personal credit check required.

  • 30-day charge card running on the Visa network. Payment in full automatically debited from connected business bank account on the same day each month.

  • Must spend more than $10,000 per month on corporate cards currently.

  • Must have at least $75,000 in a U.S. business bank account to qualify.

  • Ramp card is only available to corporations, LLCs and limited partnerships. Individuals, sole proprietors and unregistered businesses are not eligible.

  • Direct integrations to streamline accounting, collaboration and expense reporting.

Read full review

Our pick for

Businesses with strong financials (no personal credit check)

Apply now

on Brex's website

Brex Card

3.2

NerdWallet rating 
Apply now

on Brex's website

Annual fee

$0

Intro APR

N/A

Regular APR

N/A

Recommended Credit Score

Pros

  • No annual fee

  • New cardholder bonus offer

  • Qualify with limited/bad credit

  • Bonus categories

  • No foreign transaction fees

  • No personal guarantee

Cons

  • Complicated rewards

  • No Intro APR

  • No revolving balances

  • Get 10,000 points when you spend $3,000 on a Brex Card within your first 3 months.

  • No personal guarantee needed – Brex does not ask for a personal credit check or security deposit during the application.

  • Credit limits 10-20x higher than traditional small business corporate cards.

  • Minimum bank balance of $50,000 from professional investors may be required to qualify for Brex.

  • Exclusive signup offers from the best products and tools for your business (e.g. AWS, Google Ads, WeWork, Salesforce) worth up to $150,000 in value.

  • Earn points on every dollar spent with industry-leading multipliers: 7x on rideshare, 4x on Brex Travel, 3x on restaurants, 2x on software subscriptions and 1x on all other transactions.

  • Earn 3x Brex Rewards points on all eligible Apple purchases through the link or your Brex dashboard.

  • Miles transfer program to 7 airlines (including Singapore Airlines, Qantas, Air France, and more) and their loyalty programs, giving Brex customers access to book travel across all of the major global airline alliances - Star Alliance, Oneworld, and SkyTeam.

  • 30-day charge card running on the Mastercard network. Enjoy global acceptance with no foreign transaction fees.

  • Build business credit: Brex partners with Dun & Bradstreet and Experian to report your on-time payments.

  • Make employee expenses seamless - automated receipt-capture and expense matching and reconciliation via text, email, and mobile app. Instantly add new users and set spending limits.

  • Contactless pay with Apple Pay, Google Pay, and Samsung Pay.

  • Simplify reconciliation with built-in integrations with QuickBooks, Xero, NetSuite, and more.

Read full review

FULL LIST OF EDITORIAL PICKS: BEST SECURED BUSINESS CREDIT CARDS AND MORE

Not every card on this list is a secured business credit card, but different options may make sense depending on whether your business or personal credit is thin or poor. Click the card name to read our review. Before applying, confirm details on the issuer’s website.

Secured business credit cards to build business credit

First National Bank Business Edition® Secured Mastercard® Credit Card

Our pick for: Secured credit card to improve business credit

The First National Bank Business Edition® Secured Mastercard® Credit Card reports card activity to Dun & Bradstreet, one of the three main business credit bureaus, so on-time payments will help build your business credit score. This secured card does require a credit check (personal credit) and security deposit (between $2,200 and $110,000 in multiples of $50) which dictates your credit limit. This card charges a $39 annual fee.

Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® Secured credit card

Our pick for: Cash back rewards

The Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® Secured credit card earns 1.5% cash back on all purchases, with no cap or expiration date on the rewards you earn. The card has a minimum security deposit of $1,000, which is equal to your credit limit and subject to credit approval. Bank of America will periodically review your secured card and may upgrade you to an unsecured card if and when you qualify. This card has no annual fee.

Business credit cards for thin or poor credit

Our pick for: Applicants with fair or average credit

Although the Capital One® Spark® Classic for Business isn't actually a secured card and comes with a high APR, this card is available to business operators with fair or "average" credit, who typically don't have a lot of options in business credit cards. That’s a plus, especially with a $0 annual fee.

Our pick for: Business card with no credit check

The Ramp Card's main selling point: It does not require a credit check or personal guarantee. You just need strong revenue and a healthy bank balance. The corporate charge card also offers unlimited cash-back rewards and card-level spending controls with no annual fee. Learn more and apply.

Our pick for: Businesses with strong financials (no personal credit check)

If you’re struggling to find business funding because of a low personal credit score, consider Brex. The issuer determines an applicant's creditworthiness by evaluating the company's cash balance, spending patterns and investors rather than the business owner's personal credit score. Learn more and apply.

Secured credit cards to help personal credit

Our pick for: Simplicity

The Capital One Quicksilver Secured Cash Rewards Credit Card offers an impressive combination of features for those with poor credit. A deposit is required, but in exchange you get a $0-annual-fee card that reports to all three credit bureaus; an automatic credit limit review after six months; and a possible upgrade path to an unsecured Capital One card. Oh, and 5% back on hotels and rental cars booked through Capital One Travel, plus 1.5% back on all other purchases, which equals what you'd find on many unsecured cards. Learn more and apply.

Our pick for: Business owners who want to graduate to an unsecured credit card.

This personal secured credit card offers a generous cash-back program, and responsible habits will automatically trigger an evaluation from Discover after seven months of holding the card. Note that your original deposit, or security, must be paid through a bank account. Learn more and apply.

How to use a secured business credit card effectively

Here are a few ways to make the most of a secured business credit card:

  1. Use the card once in a while, making one or two small purchases every month.

  2. Pay your balance in full every month before the due date. That way, you won't be charged interest. Interest rates on secured cards are generally higher than on unsecured cards.

  3. Watch your credit score. When it has improved, see if your issuer can upgrade you to an unsecured card.

How fast can a secured business credit card build credit?

Typically, it takes a year of using a secured credit card to change your credit score enough to qualify for an unsecured card. Sometimes, you can simply move your secured line to an unsecured line, which can be better for your credit score because it doesn't require opening a new account. However, if you do end up opening a new account to get an unsecured line, there are still a lot of benefits: lower interest rates and fees, better rewards and proof that you have good credit.

Alternatives to secured business credit cards

If you have a credit score of 630 or above, you may want to skip applying for a secured business credit card and opt for something with more options or lower interest rates and fees. See our roundup for business credit cards for fair or average credit.

You can also consider the following options:

Business debit cards

Debit cards aren’t credit cards, as spending is tied to the cash balance in a linked business checking account. But business debit cards typically don’t require a credit check and may make sense for business owners who want to use plastic to better keep track of their transactions or their employees’ spending.

Nonbusiness credit cards

You don’t necessarily need a business credit card for business finances. If you’re a sole proprietor with bad or thin credit, you could get a separate personal secured credit card. These cards may help your personal credit — a must for future financing — but they’ll lack features like employee cards and often come with lower limits than business credit cards. Just be sure to keep your business and personal spending separate.

If you’re unsure whether you’ll pass a credit check, some business credit card issuers will let you pre-qualify. This process tells you whether you’ll likely be approved without affecting your personal credit score. It can also make sense to get a free credit score before applying. That way, you can find cards you may be eligible for and reduce the risk of failing a credit check.

Bad-credit business loans

If you want to grow your business credit but don't have ideal personal credit, a secured business credit card isn't your only option. Bad credit business loans are available from online lenders, and successfully repaying this financing may help establish your business credit score. These loans may come with high interest rates, though, so make sure you'll be able to afford the payments before you borrow.

Last updated on January 24, 2023

Methodology

NerdWallet's Credit Cards team selects the best credit cards for small business based on overall consumer value, as evidenced by star ratings, as well as their suitability for specific kinds of small-business operators. Factors in our evaluation include annual and other fees, rewards rates, the earning structure (for example, flat-rate rewards versus bonus categories), redemption options, bonus offers for new cardholders, introductory and ongoing APRs, and other noteworthy features such as special financing arrangements, free cards for employees or tools for managing business expenses. Learn more about how we rate business credit cards.