Business credit cards can offer some important benefits for a new or growing business. Not only do you have the convenience of being able to charge expenses, but you can also earn rewards by building up your credit score.
When applying for a business credit card, your personal and business credit score, credit age, income and personal income may be subject to scrutiny. Some cards may be easier to get approved than others, although of course it will be more difficult if you have a lower credit score or haven’t been in business that long.
If you’re interested in using a credit card to fund your entrepreneurial endeavors, it’s helpful to know which business credit cards have the fewest approval hurdles.
The easiest business credit cards to get
The simplest business credit card is ultimately the one you can qualify for based on your credit score, income, and any other factors the card issuer considers. With that in mind, here are some of the best options to consider when applying for business credit cards.
American Express Blue Business Bank Card: Best for Simplicity
Why did we choose this: American Express Blue Business Cash™ Card Designed for small business owners who want cash back on purchases without paying an annual fee. This card offers a 2 percent cash back on qualifying purchases up to $50,000 within a calendar year, followed by a 1 percent cash back.
Getting approved for the Amex Blue Business Cash Card can be easy if you have good or excellent credit. You don’t have to be a big spender, although the more you take, the more money you can earn back. And Amex claims you can apply and get a decision in as little as 30 seconds.
pros
- No annual fee
- Zero percent initial annual interest rate on new purchases for 12 months (14.74 to 22.74 percent may vary thereafter)
- $250 credit statement after spending $3,000 within three months
- Buy over your credit limit with enhanced purchasing power
Minuses
- The 2% cashback is capped at $50,000 on purchases per year.
- Best suited for small businesses
Who should apply: Small businesses that spend no more than $50,000 per year will receive a flat 2% cashback on this card. Also, if you are still at the beginning of your business and busy building your business, you might appreciate the simplicity of the map.
Who should missA: Business owners who know their business is spending more than their spending limit year after year may not like this card very much.
Capital One Spark 1% Classic: Best for Equitable Credit
Why did we choose this: Capital One Spark 1% Classic* is designed for business owners who are trying to rebuild credit. This card offers unlimited cashback of 1% on every purchase and 5% on hotels and car rentals booked through Capital One Travel, with no change in bonus categories or reward levels to worry about.
There is no annual fee or foreign transaction fees. The card also comes with some handy perks like free employee cards, car rental insurance, and year-end summaries.
pros
- No balance transfer fee
- Increase credit by getting cashback
- Designed for business owners with a fair credit history
- Get an approval decision in seconds
Minuses
- 12.99% variable annual interest rate
Who should apply: Even if your personal credit score is not the best, you can qualify for Capital One Spark 1% Classic as it is for those with a fair credit history. If you’re looking for a business card with no annual fees that offers some rewards while you’re focused on rebuilding your credit, whether it’s your personal or business account, this card is a good choice.
Who should missA: Business card holders with a score above 670 (good credit score or higher) can easily get approved for cards with higher rewards.
Brex 30 Map: Best for Startups
Why did we choose thisA: The Brex 30 card is primarily intended for corporations, limited liability companies (LLCs) and limited liability partnerships (LLCs). Instead of basing your approval on your personal credit score, Brex evaluates your application and possible credit limit based on your company’s cash flow, spending habits and credit history. The Brex card also does not require a personal guarantee. Applying for a card will not affect your personal credit score, whether you are approved or not.
You can choose from two card options: Brex card with daily payment or Brex card with monthly payment. Both versions offer rewards, although you’ll get a slightly better reward ratio with the daily version. On the other hand, a monthly payment card can offer credit limits that are 10 to 20 times higher than traditional corporate cards.
pros
- 7x more points for trips, 3x more points for restaurants, 2x more points for software (monthly card)
- Unlimited employee cards with customizable limits
- No annual fee
- Track and manage your spending with the Brex app
Minuses
- Not worth it for a small business
- The card fluctuates depending on the cash flow for the daily payment card
Who should apply: The Brex 30 card with its rewards and business tools is good for startup owners. If you spend a lot on travel, travel, meals and software and would like to make it easier to manage your expenses, you should apply.
Who should missA: Small business owners or businesses that don’t have a lot of cash flow should avoid this card.
Wells Fargo Business Secure Credit Card: The Best Option for New Businesses
Why did we choose this: The Wells Fargo Secured Business Credit Card* is designed for businesses with little to no credit history or those seeking to overcome past credit problems. You should be aware that this card is a secured credit card, so you must pay off your balances at the end of each billing cycle.
The card requires a deposit of between $500 and $25,000, which will also determine your credit limit. In terms of rewards, you can choose between earning 1.5% cashback on qualifying purchases or 1X points plus 1,000 bonus points for each billing cycle when you charge at least $1,000.
pros
- No annual fees or commissions for foreign transactions
- Credit limit up to $25,000
- Up to 10 employee cards
- For the points version, you get 10 percent credit if you use it online.
Minuses
- You must have a Wells Fargo checking or savings account to apply.
Who should applyA: Cardholders who own a brand new business with little or no credit history should consider applying for this card. If you are still developing or working on building healthy credit habits, you should also apply.
Who should missA: Those with a good or excellent credit history do not need to apply for a secured card. And if you are already using the services of another issuer, you will not be able to qualify for this card.
How can I speed up business card approval?
The best way to speed up business credit card approval is to work on improving your credit score. The better your credit history, the easier it will be to get approved for both business and personal credit cards. A longer time in business or a higher annual income can also help you get approved for a loan faster.
However, it can take some time for your credit score to improve, so you may need to consider other methods to speed up business credit card approval. With a secured credit card, offering a larger deposit can help your application be processed and approved faster. With unsecured business credit cards, prequalification can help.
For example, if you receive an offer in the mail, it could be a sign that the credit card company thinks you’re a good candidate for a business credit card. You will need to complete a full application to see if you are approved, but pre-qualification or pre-approval can be a positive sign.
You can also ask for a review if you were denied a business credit card. Reconsideration simply means contacting your credit card company to reconsider your application. If you can make a strong enough case as to why your application should be approved, the credit card company may agree to provide you with a business credit card.
bottom line
Building a positive business credit history can make it easier to get approved for credit cards, loans, and lines of credit. If you’re trying to build or rebuild a business loan, applying for a business credit card with easy approval is a good place to start. Using your card responsibly—in terms of paying on time and keeping your balance low—can help you improve your business’s credit scores over time.
*All information regarding the Capital One Spark 1% Classic Card and Wells Fargo Business Secured Credit Card has been independently collected by CreditCards.com and has not been verified or approved by the issuer.
Editorial disclaimer
The editorial content on this page is based solely on the objective judgment of our contributors and is not based on advertising. It was not provided or ordered by credit card issuers. However, we may receive compensation when you click on links to our partners’ products.
