While unsecured business credit cards may be easier to obtain if you have outstanding credit, it is much harder to get one if credit scores aren't great. Secured business credit cards, however, require a deposit. This means banks are more likely than others to give credit to those with poor credit. These cards are excellent for building credit history in your business. You can also use the deposit to repay the balance.
Capital One Spark Classic Business Credit Card
Capital One Spark Classic for Business credit can be a good choice if you are looking for a brand new business credit. This credit card can be used by people with good credit or limited business credit. This credit card is a great way for you to build your business credit and be eligible for business credit cards later.
This credit card does not have an annual fee. It also comes with a variety of perks such as a 0% initial APR for the first 9 months. It also offers recurring transactions and rewards, and no foreign transaction fees. The Spark Classic business credit card is popular. Unlike some of its competitors, the Capital One Spark credit card has a lax qualification standard, and is available to business owners with spotty or fair credit.
Capital One Spark Classic for Business offers another benefit: a 1% cash reward for all purchases. It also offers free employee cards. For people with bad credit or poor credit, it may not be the right business credit card. Unsecured business credit cards may be more suitable for people looking to improve their personal credit.
Discover is a secured credit card for businesses
If you run a small business, you may be wondering if Discover offers a secured business credit card. The truth is that Discover doesn't offer a secured business card, but a personal one called the Discover it Secured credit card can help you build your personal credit. It is lower in APR and has an annual fee that is lower than an unsecured business credit card. Plus, it can be used for business expenses.
The secured business credit cards are not available to people with poor or no credit but can be a great way for you to build your credit. You can also prove to potential lenders that you are a trustworthy business owner by using it. You can also track your business' spending with it.
You can also build your credit with a Discover card. It reports to three major credit agencies and has basic security measures. For example, Discover will help you monitor your credit report for unauthorized activity, and will send alerts when it sees anything that looks suspicious. There is no risk of being charged for something that you did not authorize. You can set up free alerts to your social security numbers, which could help you avoid an unauthorised charge.
Capital One Spark Classic is subject to a security guarantee
A secured business credit card, like the Capital One Spark Classic for Business, is a credit card that requires a security deposit. This card is a great option for small business owners with less-than-perfect credit. This type of card can be purchased online. Once approved, the card can be used to make purchases.
Spark Classic requires a $200 minimum security deposit. Higher credit lines are available for larger deposits. Your credit card approval is granted within weeks. This card is an excellent option for small business owners who have less than perfect credit. You can build your credit while still earning rewards. The card provides 1% cash back on purchases. Your rewards do not expire.