Trying to get a business credit card with poor credit can be a major hurdle for your small business. But if you only have good credit with Experian, it’s possible.
We’ve compiled a list of a few business credit cards that pull Experian only.
Business Credit Cards That Pull Experian Only
Chase Ink Business Preferred Card
Do you operate a business where you or your employees do a lot of traveling? A travel-focused rewards card can be a useful addition. One excellent choice is the Chase Ink Business Preferred card.
It’s important to state upfront that the fees for this card are a little high. You will have to pay a $95 annual fee. This business credit card also comes with a variable APR of anywhere from 20.24% to 26.24%.
But what does it offer? The Chase Ink Business Preferred business credit card offers:
- 90,000 bonus points after you’ve spent at least $8,000 in the first three months.
- 3x rewards points on the following spending categories: travel, shipping, advertising, cable, internet, and phone services.
- Travel perks like auto rental coverage and trip cancellation/interruption insurance.
- No foreign transaction fees. This ensures you can use the business credit card while traveling without worrying about dealing with more expenses.
- Regular credit limit reviews, giving you one of the best credit cards for helping you fund your business over time with a gradually increasing credit line and improved cash flow.
If you prefer business credit cards with high rewards potential, consider the Chase Ink Business Preferred business credit card.
American Express Business Gold Card
The point of getting a business credit card isn’t just to boost business credit; you want to fund your business too. The American Express Business Gold Card helps you make the most of your new credit solution.
The fees for this business credit card are much higher than the previous card. You will have to pay an annual fee of $375 for this card if you apply. However, the variable APR is comparable. You can expect to see anywhere from 18.49% to 27.49%.
They do offer 0% APR for the first six months.
Speaking of rewards, this business credit card has a lot more to offer. You will receive:
- 4x points on your two top eligible spending categories. This allows you to earn more for things you actually buy, not spending categories that may not be relevant to you.
- 3x points on flights and prepaid hotels.
- 1x points on every other eligible purchase.
- A $240 flexible business credit for purchases made at vendors like Office Supply Stores, FedEx, and Grubhub.
- A $155 Walmart+ credit for monthly membership.
- Additional perks with your new credit card like travel insurance, cell phone protection, and more.
The American Express Business Gold Card will cost you a bit more. However, what you get in exchange could make it the right business credit card for you.
Bank of America Platinum Plus Mastercard Business Card
Are you not a fan of the fees that accompany some of these cards? Consider the Bank of America Platinum Plus Mastercard Business Card.
The Bank of America Platinum Plus Mastercard Business Card has no annual fee. It also offers 0% variable APR for the first seven billing cycles. After that, variable APR will range from 15.49% to 26.49%.
This business credit card doesn’t offer as many perks and features. It’s a simpler card. With the Bank of America Platinum Plus Mastercard Business Card, you receive:
- A $300 online statement credit if you spend at least $3,000 in the first 90 days.
- Free employee cards with seamless management.
- The Mastercard Easy Saving® Program. Rather than a traditional rewards system, you get automatic rebates when you spend money at eligible locations. This may be more desirable for those wanting a small business credit card.
- Free Dun & Bradstreet business credit score for free if you’re signed up for Business Advantage 360.
You can gain a more comprehensive overview of where you can save here.
What Should You Do If Your Credit Score Is High With Only One Bureau?
A good credit score with one consumer credit bureau can be cause for concern. If one score is thriving while the others are suffering, this can be due to any number of issues.
What you want to do is order your free credit report. Look for any discrepancies in your credit history that might be leading to lower scores with other consumer credit bureaus.
This may appear as late payments that weren’t late, open accounts that should be reported as closed, and incorrect credit utilization data.
Keep an eye out for new accounts you don’t recognize. Your credit may be impacted by activities related to identity theft. However, this is a worst-case scenario.
Not all vendors report to all of the bureaus as well; a higher score for one bureau could mean that one of your accounts only reports to one bureau.
If your credit scores vary because of scoring methodologies, not much can be done aside from working on your credit until those scores reflect your efforts. Your other scores will grow to match your Experian credit report with time.
Why You Should Consider Using Business Credit
Credit solutions like business credit cards will rely on your personal credit health. However, you don’t absolutely need perfect personal credit to begin your business credit journey.
Using business credit instead of your personal credit score is an option.
You won’t have perfect business credit when you first start out. However, you can apply for EIN-only solutions like charge cards and fleet cards. They accept bad credit and won’t demand an extensive payment history.
These will ask for your EIN and consider other factors like business revenue, time in business, and current or anticipated funding.
This will help you build business credit without involving your personal credit.
How to Build Business Credit for More Opportunities
Building business credit begins with accessing opportunities that are available to you. Namely, you’ll focus on applying for business tradelines and vendor tradelines.
You might also look into which credit cards help establish business credit for support with funding.
As you demonstrate your ability to pay on time (or early) as well as effectively manage your debt and your business, your business credit scores will rise.
As they do, you’ll then be able to tap into better funding opportunities.
But how do you get started? There are solutions you can tap into when you’re learning how to build business credit for better, faster results.
Build Business Credit Quickly and Easily With Credit Suite
Credit Suite is designed for small business owners like you.
Our Fundability System offers you the comprehensive support you need to see real results. The Fundability System assists you by:
- Providing you with step-by-step guidance on what you need to improve fundability and build your credit score with each business credit bureau.
- Matching you with lending opportunities you’re best-suited for, tapping into our extensive database of vendors, lenders, and other credit providers.
- Helping you scale faster so that you can reach your small business’s true potential.
- And more!
Get started with Credit Suite today to start building your business credit and improving your funding possibilities.
