Can You Get Business Credit Cards With Bad Personal Credit? We Show You How!
Is it possible to get business credit cards with bad personal credit? You better believe it is!
We looked at a lot of business credit cards with bad personal credit, and did the research for you. So, here are our favorites.
Per the SBA, small business credit card limits are 10 ؘ– 100 times that of personal cards!
This shows you can get a lot more money with small business credit. And it also means you can have personal credit cards at stores. So, you would now have an extra card at the same retail stores for your company.
And you will not need collateral, cash flow, or financials to get small business credit.
Business Credit Cards With Bad Personal Credit: Benefits
Benefits can vary. So, make certain to select the perk you would prefer from this variety of alternatives.
Business Credit Cards With Bad Personal Credit
Capital One® Spark® Classic for Business
For fair credit, we like the Capital One Spark Classic for Business. It has no annual fee. There are cash-back rewards. The card gets 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 REMEMBER: the ongoing APR is 24.74% variable APR. And the penalty APR is even higher, 31.15%. Also, there is no sign-up bonus.
Credit Builder Company Credit Cards
Discover it® Student Cash Back
Be sure to check out the Discover it® Student Cash Back card. It has no annual fee. The credit 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 distinct feature is that it provides an incentive for students to maintain good grades with a $20 statement credit. If students earn a GPA of 3.0 or higher each school year, the card will award the $20 statement credit every year for up to five years.
Use this credit card to build personal credit. While this is a personal credit card versus a business card, for new credit users, their FICO scores will be important. And this card provides an excellent way to raise FICO while also getting rewards.
You can earn 5% cash back at different places each quarter such as grocery stores, gas stations, restaurants or Amazon.com up to the quarterly maximum. After that, this credit 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 although 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.
Secured Credit Cards
Wells Fargo Business Secured Credit Card
Have a look at the Wells Fargo Business Secured Credit Card. It charges a $25 yearly 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 designed to help cardholders develop or rebuild their credit.
Pick this card if you wish to get 1.5% per dollar in purchases with no limits or earn 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.
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 card for balance transfers.
Low APR/Balance Transfers Business Credit Cards With Bad Personal Credit
Discover it® Cash Back
Look at the Discover it® Cash Back card. There is a 10.99% introductory APR for six months from date of first transfer. So, this is for transfers under this offer which post to your account by January 10, 2019.
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.
You can get 5% cash back at different places every quarter. So, these are establishments like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs. But this is up to the quarterly maximum each time you activate. Also, automatically get unlimited 1% cash back on all other purchases.
You will earn an unlimited dollar-for-dollar match of all the cash back you have gotten at the end of your first year, automatically.
0% APR Small Business Credit Cards With Bad Personal Credit
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 initial 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 earn unlimited points and points never expire.
There is a 25,000-point sign-up bonus when you spend $1,000 within the first 60 days of opening up the account. Cardholders get travel accident insurance, and lost luggage reimbursement.
They likewise get trip cancellation coverage, trip delay reimbursement and other advantages.
There is no introductory rate for balance transfers. Also, bonus categories are limited.
JetBlue Plus Card
Check out the JetBlue Plus Card for yet another offer of a 0% introductory APR.
Get six points/dollar on JetBlue purchases, two points/dollar at restaurants and grocery stores. And get one point/dollar on all other purchases.
Spend $1,000 in the initial 90 days and pay the yearly fee, and get 40,000 bonus points. New cardholders receive a 12 month, 0% introductory APR on balance transfers made in forty-five days of account opening.
After that, 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 yearly fee for this card.
Get it here: https://cards.barclaycardus.com/cards/jetblue-card/
Business Credit Cards With Bad Personal Credit with No Annual Fee
Costco Anywhere Visa® Business Card by Citi
This card earns cash back with every purchase. Earn 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.
Keep in mind: 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 offered with this card.
Business Credit Cards With Bad Personal Credit for Cash Back
Capital One® Quicksilver® Card
Look at the Capital One® Quicksilver® Card. It offers flat-rate rewards of 1.5% on all purchases. There are no limits to the amount of cash back rewards that cardholders can earn. Also, the card has a $0 annual fee.
New cardholders have a 0% APR on purchases and balance transfers for the first fifteen months after opening the account. And after that they have a 14.74 – 24.74% (variable) APR after that.
A cash bonus of $150 is on offer for those who make at least $500 in purchases in 3 months of account opening.
Also, cash back rewards do not expire for the life of the account. And there is no limit to how much you can earn.
This credit card also offers travel accident insurance. And you get an auto rental collision damage waiver. There are no foreign transaction fees. And there is extended warranty coverage.
Downsides are the flat reward rate, not allowing for any more than that. And the higher APR after the intro period.
Get it here: https://www.capitalone.com/credit-cards/quicksilver/
Small Business Credit Cards With Bad Personal Credit for Travel Points
IHG ® Rewards Club Premier Credit Card
Check out the IHG ® Rewards Club Premier Credit Card. it earns hotel rewards worldwide. For each dollar spent at participating IHG hotels, get 10 points. Earn two points per dollar spent at gas stations, grocery stores and restaurants.
And all, other purchases earn one point. New cardholders can get an 80,000-point sign-up bonus when they spend $2,000 in the first three months of account opening.
This card provides a free one-night hotel stay each year. Plus, there is a wide array of benefits like travel and purchase coverage and an upgrade to Platinum Elite status with the IHG Rewards Club. The club offers complimentary room upgrades when available and guaranteed room availability.
The biggest issue is that the card does not offer a zero percent APR introductory rate. And the standard APR is 17.99 – 24.99% variable. Also, the yearly fee is $89.
The Perfect Business Credit Cards With Bad Personal Credit for You
Your absolute best business credit cards with bad personal credit will always hinge on your credit history and scores.
Only you can choose which features you want and need. So, make sure to do your homework. What is excellent for you could be catastrophic for another person.
And, as always, make certain to establish credit in the recommended order for the best, fastest benefits.