If you're thinking of applying for a business secured credit card, there are a few things you should keep in mind. You will need to transfer the amount from the business account. The money is not to be used on the credit card until it is paid off.
Wells Fargo Business Secured Credit Card
The Wells Fargo Business Secured Credit Card can be a good choice if you are looking for a business credit card. There is no annual fee and there are no foreign transaction fees. Like other business credit card, you can have automatic payments or overdraft coverage. You have many options when it comes to features and rewards.
This card is a great way to establish a credit history for the company. It does not use a FICO score and does not report to the personal credit bureaus, but reports to the Small Business Financial Exchange. Additionally, the account allows you to open it with a $500 cash deposit. You also have access to a $500 credit limit. A good credit record can help you increase your credit limit.
One of the many benefits this business credit card has is the ease-of-use online account management. Cardholders have multiple accounts that can be managed from one location with the Wells Fargo Business Secured Credit Card. Due to the high interest rate, you should use it for purchases only, not balance payments.
Wells Fargo Business Secured Visa Credit Card
There are many benefits to this credit card for business owners. First, there are no foreign transaction fees or annual fees. The card also offers a variety of benefits including autopay and online account administration, overdraft protection and fraud monitoring. There are other perks, such as $0 fraud liability.
The card's purchase assurance guarantee means that, if you purchase something and it breaks within the first six months, Wells Fargo will repair or replace it free of charge. You should also remember that Wells Fargo will periodically review your account, credit history, and payment history. You will need to consider your payment history, credit score, and payment history before you can be approved for an unsecured small business credit card.
You should also look out for the rewards program on a business credit card. This card offers rewards, though the rewards are not as great as other cards. One point can be earned for every dollar spent by applicants with good or excellent credit. A card that offers cash back or points is best for those with a smaller credit profile.
Wells Fargo Secured Visa Credit Card
You might consider the Wells Fargo Secured Visa Credit Card if you are looking for a card that does not require a high score. This card offers good rates and a low annual fee. This card is not a reward card. However, it does offer a 0% intro interest rate balance transfer offer for the first 12 months. It also offers auto rental collision damage insurance and reports to multiple credit bureaus. It doesn't offer any cash back or rewards programs. However, it does charge a balance transfer fee of 5% and a foreign transaction fee of 3%.
The company regularly reviews accounts and checks recent credit history. The company also offers "Secured Business Cards", which is an interesting feature. This credit card allows the upload of an image that represents your business. You can upload a logo, a photo of your storefront or even a product line. Once uploaded, the image can be displayed on the card.