The Absolute Best Bad Credit Business Credit Cards
Need bad credit business credit cards but don’t know where to turn? We’ve got you covered.
We researched a ton of bad credit business credit cards for you. So, here are our choices.
Per the SBA, business credit card limits are a whopping 10 – 100 times that of consumer cards!
This shows you can get a lot more cash with business credit. And it also means you can have personal credit cards at retailers. So, you would now have an added card at the same retailers for your business.
And you will not need collateral, cash flow, or financials to get company credit.
Bad Credit Business Credit Cards: Benefits
Perks can differ. So, make certain to choose the benefit you would prefer from this variety of options.
Bad Credit Business Credit Cards
Capital One® Spark® Classic for Business
For fair credit, we like the Capital One Spark Classic for Business. It has no yearly fee. There are cash-back rewards. The card earns an unlimited 1% cash back on all purchases. There is an annual fee of $0.
With this card, you will get benefits including an auto rental collision damage waiver, and purchase security. And you also get extended warranty coverage. And you get travel and emergency assistance services.
But BEAR IN MIND: the ongoing APR is 24.74% variable APR. And the penalty APR is even higher, 31.15%. Also, there is no sign-up bonus.
Get it here: https://www.capitalone.com/small-business/credit-cards/spark-classic/
Credit Builder Bad Credit Business Credit Cards
Discover it® Student Cash Back
Make sure to look at the Discover it® Student Cash Back card. It has no annual fee. The card also offers a six-month introductory period of 0% APR on purchases. And there is an APR of 14.99 – 23.99% variable on all purchases after that period.
One one-of-a-kind feature is that it provides an incentive for students to maintain good grades with a $20 statement credit. If scholars earn a GPA of 3.0 or better each school year, the card will award the $20 statement credit each year for up to five years.
Details
Use this card to build personal credit. While this is a personal credit card versus a business credit card, for new credit users, their FICO scores will be important. And this card provides an outstanding way to raise FICO while also getting rewards.
You can get 5% cash back at different places each quarter like grocery stores, gas stations, restaurants or Amazon.com up to the quarterly maximum. After that, this card offers unlimited 1% cash back on all purchases.
In the first year, all cash back rewards are matched 100%.
Downsides include a cash advance fee of either $10 or 5% of the amount of each cash advance, whichever is more. And even though they waive the first late payment fee, a fee of up to $37 applies on all other late payments. There is also a returned payment fee of up to $37.
Get it here: https://www.discover.com/credit-cards/cash-back/it-card.html
Low APR/Balance Transfers Bad Credit Business Credit Cards
Discover it® Cash Back
Check out the Discover it® Cash Back card. There is a 10.99% introductory APR for six months from date of first transfer.
After the introductory APR expires, your APR will be 14.99% to 23.99%. So, this is based on your creditworthiness. Your APR will vary with the market, which is based on the Prime Rate.
Details
You can get 5% cash back at different places each quarter. So, these are places like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs. But this is up to the quarterly maximum each time you activate. Plus, automatically get unlimited 1% cash back on all other purchases.
You will get an unlimited dollar-for-dollar match of all the cash back you have gotten at the end of your first year, automatically.
Get it here: https://www.discover.com/credit-cards/cash-back/it-card.html
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Secured Bad Credit Business Credit Cards
Wells Fargo Business Secured Credit Card
Have a look at the Wells Fargo Business Secured Credit Card. It charges a $25 annual fee per credit card (up to 10 employee cards). It also requires a minimum security deposit of $500 (up to $25,000) and it is meant to help cardholders establish or rebuild their credit.
Choose this credit card if you want to get 1.5% per dollar in purchases with no limits or get one point for every dollar in purchases. You also get 1,000 bonus points for every month your company makes $1,000 in purchases on the card.
Details
Also, you get free FICO scores every month. There are no foreign transaction fees. It is possible to upgrade to unsecured credit. Your account is regularly reviewed. And you may become eligible for an upgrade to an unsecured card with responsible use over time. Approval is not guaranteed and depends on factors including how you manage this and your other accounts.
APR is the current prime rate plus 11.90%. There is no introductory APR period and no sign-up bonus. This is not a credit card for balance transfers.
Get it here: https://www.wellsfargo.com/biz/business-credit/credit-cards/secured-card/
Bad Credit Business Credit Cards with 0% APR
Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card
The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card has no annual fee and comes with a 0% introductory APR on purchases for the first nine months. Afterwards, the card has a 13.24 – 23.24% variable APR.
Earn 3 points/dollar spent when you book travel through the Bank of America Travel Center and one and a half points/dollar on all other purchases. You can get unlimited points and points will never expire.
Details
There is a 25,000-point sign-up bonus when you spend $1,000 in the initial 60 days of starting the account. Cardholders get travel accident insurance, and lost luggage reimbursement.
They also get trip cancellation coverage, trip delay reimbursement and other benefits.
There is no introductory rate for balance transfers. Also, bonus categories are limited.
Get it here: https://www.bankofamerica.com/smallbusiness/credit-cards/products/travel-rewards-business-credit-card/
JetBlue Plus Card
Consider the JetBlue Plus Card for yet another offer of a 0% introductory APR.
Get six points/dollar on JetBlue purchases, two points/dollar at eateries and grocery stores. And get one point/dollar on all other purchases.
Details
Spend $1,000 in the first 90 days and pay the annual fee. So, then you can earn 40,000 bonus points. New cardholders receive a 12 month, 0% introductory APR on balance transfers made within forty-five days of account opening.
Afterwards, the variable APR on purchases and balance transfers is 17.99%, 21.99% or 26.99%, based on creditworthiness. Benefits include a free first checked bag and 50% savings on in-flight purchases.
There is a $99 annual fee for this card.
Get it here: https://cards.barclaycardus.com/cards/jetblue-card/
Bad Credit Business Credit Cards with No Annual Fee
Costco Anywhere Visa® Business Card by Citi
This credit card earns cash back with every purchase. Get 4% cash back on the first $7,000 spent on eligible gas purchases annually (1% after that). Earn 3% cash back at restaurants and on eligible travel purchases. Also, earn 2% cash back at Costco and Costco.com. And earn 1% cash back on all other purchases.
So note: the $0 yearly fee is only for Costco members. And an active Costco membership is required. Cardholders will get access to damage and theft purchase protection, extended warranty coverage and travel accident insurance.
Also, there is no sign-up bonus available with this card.
Get it here: https://www.citi.com/credit-cards/credit-card-details/citi.action?ID=Citi-costco-anywhere-visa-business-credit-card
Bad Credit Business Credit Cards for Cash Back
SimplyCash Plus Business Credit Card from American Express
Check out the SimplyCash Plus Business Credit Card from American Express. There is a $0 yearly fee. And there is a 0% APR on purchases So this is for the first fifteen months an account is open.
But when the introductory period expires, the APR for purchases is 14.24 to 21.24%. So, this is variable and based on creditworthiness.
Details
This credit card has various benefits. These include purchase protection, car rental loss and damage insurance. And they also include a baggage insurance plan, extended warranty coverage and a global assist hotline.
Also, get 5% cash back at US office supply stores and on wireless telephone services. So, these must be bought from American providers. But this applies to the initial $50,000 of yearly spending. Then, you get 1% cash back.
You also get 3% cash back on spending category of your choice. So, this is from eight distinct categories. They include airfare, gas, advertising and computer purchases. But it applies to the first $50,000 of yearly spending. Then, you get 1% cash back.
Cash-back bonuses are automatically credited to the customer’s billing statement.
Note: you cannot use this credit card for balance transfers. There is a foreign transaction fee of 2.7%. The card charges up to $38 in late fees. And the returned check fee is also $38. The penalty APR is 29.99%.
And, it kicks in if you have two or more late payments within 12 months. It can also apply if you fail to make the minimum payment on time or have a returned payment.
Get it here: https://www.americanexpress.com/us/small-business/credit-cards/simply-cash-plus-business-credit-card/44279
The Best Bad Credit Business Credit Cards for You
Your outright best business credit cards hinge on your credit history and scores.
Only you can pick which features you want and need. So, be sure to do your homework. What is excellent for you could be disastrous for somebody else.
And, as always, make sure to build credit in the recommended order for the best, speediest benefits.
