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Getting a business credit card is a straightforward process — provided you know which card you want and whether you’re likely to qualify for it. Figuring that out is your first step.
Next, you’ll identify your needs and choose the best business credit card for you. After that, applying takes just a few minutes. Here's how to do it.
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Approval for small-business cards is based largely on your personal credit score. Most cards require good or excellent credit — typically a personal FICO score of 670 or higher.
If your credit score falls into the fair or bad range (a FICO score of 669 or below), consider a secured business credit card, which can help you build your business credit. And try to build your personal credit to increase the options available to you in the future.
Getting a business credit card for a startup or new business follows largely the same process as getting one for an established company. While you’ll have to provide information about your business, credit card issuers generally don’t make approval decisions based on revenue or time in business.
If you have bad personal credit but strong business financials, you may be a good candidate for a corporate card like Ramp or BILL Divvy. Those cards base approval on your business’s finances, not your personal credit score.
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NerdWallet rating 4.8/5.0 | NerdWallet rating 5.0/5.0 | NerdWallet rating 4.4/5.0 |
Annual fee $0 | Annual fee $150 | Annual fee $0 |
Regular APR 18.49%-24.49% Variable APR | Regular APR N/A | Regular APR 18.49%-26.49% Variable APR |
Intro APR 0% intro APR on Purchases for 12 months | Intro APR N/A | Intro APR 0% intro APR on purchases for 12 months from the date of account opening |
Recommended credit score 690-850good - excellent | Recommended credit score 720-850excellent | Recommended credit score 690-850good - excellent |
at Chase | at Capital One | at American Express |
Narrow your options to the type of small-business card that best fits your business needs. Then, compare features, perks, rates, fees and reward options to choose the best card for your small business.
If your credit score is in the “bad” or “fair” ranges: There aren’t many business credit cards available to entrepreneurs whose credit scores fall below the “good” range (a FICO score of 670-731). You may want to start by taking out a secured card to help build your peronsal credit, then applying for a business credit card down the road once you have more options.
If you need to finance a large purchase or consolidate existing debt: Consider a business card with a 0% introductory APR on new purchases and balance transfers. A card that offers ongoing rewards along with an intro APR period is a better long-term bet than one with just a 0% offer.
For instance, the
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
offers 0% intro APR for 12 billing cycles on purchases, and then the ongoing APR of 19.24%-28.24% Variable APR
. Cardholders also have the opportunity to score a sign-up bonus: Earn $750 in cash back. Just spend $6000 on the Account Owner's card in the first 180 days of opening your account.
If you want a simple, versatile card: Cash back business credit cards are among the most versatile because your rewards can typically be redeemed as a statement credit or deposited into a connected bank account. Flat-rate cards earn the same rewards rate for all purchases and are a good bet if you don’t spend heavily in one specific category. For example, the
Wells Fargo Signify Business Cash℠ Card
offers 2
% cash back on all purchases with no annual fee. If you want to maximize rewards in the areas you spend most: Cash back business cards with bonus categories deliver great value when they align with your spending habits. The
Ink Business Cash® Credit Card
is a good example: Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year, Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year, Earn 1% cash back on all other card purchases with no limit to the amount you can earn
.If you spend a lot of time on the road (or in the air) for business travel: A business travel card that earns extra points on travel-related expenses can offer added value via traveler-friendly perks like lounge access and airline credits. Similar to cash back cards, you’ll find travel cards either offer flat-rate rewards or tiered rewards with certain categories earning a higher rate.
For instance, the
U.S. Bank Business Altitude™ Connect World Elite Mastercard®
offers bonus categories: Earn 5X points on prepaid hotels and car rentals booked directly in the Rewards Center. Earn 4X points on travel, gas and EV charging stations on the first $150,000 in combined annual spend. Earn 2X points on dining, takeout, restaurant delivery and cell service providers. Earn 1X points on all other eligible spend.
There's also a solid welcome offer and no annual fee for the first year ($95
after that).Applying for a small-business card is relatively straightforward. You’ll provide much of the same information as you would for a personal credit card, along with additional details about your business (industry, revenue, etc.).
- Business name, address and phone number.
- Annual revenue, number of employees and years in business.
- Type of business, industry and legal structure.
- Estimated monthly spending.
- Employer identification number (EIN) if you have one.
You’ll also need to provide personal information, including:
- Name, date of birth and Social Security number.
- Home address, phone number and email address.
- Personal credit score.
Frequently Asked Questions
Any business owner can apply for a business credit card; that includes sole proprietors, freelancers, gig workers and independent contractors.
Having a dedicated credit card for your small business makes it easy to separate business and personal expenses, identify tax deductions and build your business credit history.
While there are bad credit business cards, you typically need a personal FICO score of 690 or higher to be approved for a business credit card — though some business cards set an even higher bar. The Capital One Spark Cash Plus requires excellent credit (a 720+ FICO score), as does the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card.
Secured business credit cards, on the other hand, typically don’t have a minimum credit score requirement. And you can qualify for a corporate credit card without a personal credit check, though these have other requirements, including minimum revenue and annual spend.
