The Absolute Best Fair Credit Business Credit Cards
We looked at a lot of fair credit business credit cards, and did the research for you. So here are our choices.
Per the SBA, company credit card limits are a whopping 10 – 100 times that of personal credit cards!
This demonstrates you can get a lot more cash with small business credit. And it also means you can have personal credit cards at retailers. So you would now have an extra card at the same shops for your company.
And you will not need collateral, cash flow, or financial data in order to get company credit.
Fair Credit Business Credit Cards: Advantages
Benefits can differ. So, make certain to select the perk you like from this variety of fair credit business credit cards and reasonable alternatives.
Fair 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/
Wells Fargo Business Secured Credit Card
For another choice in fair credit business credit cards, take a look at the Wells Fargo Business Secured Credit Card. It charges a $25 yearly fee per 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 establish or rebuild their credit.
Choose if you want to earn 1.5% per dollar in purchases with no limits or get one point for every dollar in purchases. You also earn 1,000 bonus points for every month your company makes $1,000 in purchases on the card.
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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.
Get it here: https://www.wellsfargo.com/biz/business-credit/credit-cards/secured-card/
Credit Builder Company Credit Cards – Make Your Credit Surge!
Build your credit and you will end up no longer needing fair credit business 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 one-of-a-kind 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 better each school year, the card will award the $20 statement credit each year for up to five years.
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Use this card to build personal credit. While this is a personal credit card versus a company card, for new credit users, their FICO scores will be important. And this credit 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 initial 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 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
Reliable Low APR/Balance Transfers Business Credit Cards
Cards for transferring balances are another great alternative to fair credit business credit cards. In particular, you may need to transfer from higher fee and higher APR 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. 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 upon the Prime Rate.
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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. 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 earned 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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Outstanding Business Credit Cards with No Annual Fee
Not paying an annual fee is always helpful. Cards with this feature are a great alternative to fair credit business credit cards.
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). Get 3% cash back at restaurants and on eligible travel purchases. Also, get 2% cash back at Costco and Costco.com. And earn 1% cash back on all other purchases.
Keep in mind: the $0 annual 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
Terrific Cards for Cash Back
Capital One® Quicksilver® Card
Take a 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 which cardholders can earn. Also, the card has a $0 yearly fee.
New cardholders have a 0% APR on purchases and balance transfers for the first fifteen months after opening the account. Then afterwards they have a 14.74 – 24.74% (variable) APR after that.
A cash bonus of $150 is available for those who make a minimum of $500 in purchases in 3 months of account opening.
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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 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 introductory period.
Get it here: https://www.capitalone.com/credit-cards/quicksilver/
The Best Fair Credit Business Credit Cards for You
Your absolute best fair credit business credit cards hinge on your credit history and scores.
Only you can select which features you want and need. So make sure to do your homework. What is excellent for you could be disastrous for somebody else.
And, as always, make sure to establish credit in the recommended order for the best, fastest benefits.
