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Get the Best First Credit Card to Build Credit

Published By Janet Gershen-Siegel at September 7th, 2020

Get the Best First Credit Card to Build Credit

The Very Best First Credit Card to Build Credit for a Business

first credit card to build credit Credit Suite2 - Get the Best First Credit Card to Build Credit

Looking for a first credit card to build credit for your business? 

Fortunately, there are choices out there. But a lot of them will hinge upon your personal credit scores. Good FICO scores will help you get a good first credit card to build credit for any company. But don’t worry – we also have some choices for when your personal credit is less than stellar.

We investigated a lot of company credit cards for you. So, here are our selections for the best first credit card to build credit for a business.

Per the SBA, company credit card limits are a massive 10 – 100 times that of personal credit cards!

This reveals you can get a lot more funding with corporate credit cards. And it likewise shows you can have personal credit cards at stores. So, you would now have an additional card at the very same stores for your small business.

And you will not need collateral, cash flow, or financials to get business credit.

Benefits

Benefits can and do differ. So, make sure to pick the benefit you would like from this choice of alternatives. There are a lot of ways to start building credit with business credit cards. So, open your mind and consider the myriad of possibilities.

First Credit Card to Build Credit for Fair to Poor Credit, Not Calling for a Personal Guarantee

Brex Card for Startups

Take a look at the Brex Card for Startups. It has no yearly fee.

You will not need to provide your Social Security number to apply. And you will not need to provide a personal guarantee. They will take your EIN.

But keep in mind, they do not accept every industry.

Also, there are some industries they will not work with, as well as others where they will want added paperwork. For a list, go here: https://brex.com/legal/prohibited_activities/.

To determine creditworthiness, Brex will check a business’s cash balance, spending patterns, and investors.

You can get 7x points on rideshare. And get 4x on Brex Travel. Also, you can get triple points on restaurants. And you can get double points on recurring software payments. Get 1x points on everything else.

So, you can have bad credit scores (even a 300 FICO) to qualify. Amazing!

Find it here: https://brex.com/lp/startups-higher-limits/

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Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

First Credit Card to Build Credit for Fair Credit

Capital One® Spark® Classic for Business

Have a look at the Capital One® Spark® Classic for Business. It has no yearly fee. There is no introductory APR offer. The regular APR is a variable 24.49%. You can earn unlimited 1% cash back on every purchase for your business, without any minimum to redeem.

While this card is within reach if you have fair credit, beware of the APR. Yet if you can pay on schedule, and in full, then it can be a good deal.

Find it here: https://www.capitalone.com/small-business/credit-cards/spark-classic/

First Credit Card to Build Credit with No Annual Fee

No Annual Fee/Flat Rate Cash Back

Ink Business Unlimited℠ Credit Card

Have a look at the Ink Business Unlimited℠ Credit Card. Beyond no annual fee, get an introductory 0% APR for the first 12 months. But after that, the APR is a variable 14.74 – 20.74%.

You can earn unlimited 1.5% Cash Back rewards on every purchase made for your company. And get $500 bonus cash back after spending $3,000 in the first three months from account opening. You can redeem your rewards for cash back, gift cards, travel and more via Chase Ultimate Rewards®. You will need exceptional credit to qualify for this card.

Find it here: https://creditcards.chase.com/business-credit-cards/ink/unlimited

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Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

First Credit Card to Build Credit with a 0% Introductory APR – Pay Zero!

Blue Business® Plus Credit Card from American Express

Check out the Blue Business® Plus Credit Card from American Express. It has no annual fee. There is a 0% introductory APR for the initial one year. But afterwards, the APR is a variable 14.74 – 20.74%.

Get double Membership Rewards® points on everyday business purchases like office supplies or client suppers for the initial $50,000 spent per year. Then get 1 point per dollar afterwards.

So, you will need good to excellent credit scores to qualify.

Find it here: https://creditcard.americanexpress.com/d/bluebusinessplus-credit-card/

First Credit Card to Build Credit for Cash Back

Flat-Rate Rewards and No Yearly Cost

Discover it® Business Card

Take a look at the Discover it® Business Card. It has no annual fee. There is an introductory APR of 0% on purchases for one year. But then the regular APR is a variable 14.49 – 22.49%.

You can get unlimited 1.5% cash back on all purchases, with no category restrictions or bonuses. They double the 1.5% Cashback Match™ at the end of the first year. There is no minimum spend requirement.

You can download transactions| quickly to Quicken, QuickBooks, and Excel. Keep in mind: you will need great to excellent credit scores to get approval for this card. So you can get it here: https://www.discover.com/credit-cards/business/

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Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

First Credit Card to Build Credit with Flexible Financing

The Plum Card® from American Express

Have a look at the Plum Card® from American Express. It has an initial yearly fee of $0 for the first year. After that, pay $250 each year.

Get a 1.5% early pay discount cash back bonus when you pay within 10 days. You can take up to 60 days to pay without interest when you pay the minimum due by the payment due date.

So, you will need good to superb credit to qualify.

Find it here: https://creditcard.americanexpress.com/d/the-plum-card-business-charge-card/ 

The Very Best First Credit Card to Build Credit for Your Business

Your outright ideal first credit card to build credit for your business will depend upon your credit history and scores.

Only you can pick which features you want and need. So, always make sure to do your research. Because what is outstanding for you could be devastating for another person.

And, as always, make sure to establish credit in the advised order for the best, quickest benefits.

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