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Secured Business Credit Cards

As a small business owner with damaged credit, one of the biggest struggles you’ll face is finding a credit card with a big enough credit line for company expenses. A secured business credit card solves that problem, allowing business owners to set their own spending limits by placing a refundable security deposit that doubles as their credit line.

The security deposit is important because it protects issuers from the possibility of default and thereby allows you to qualify for most secured business credit cards regardless of your credit history or how much disposable income you have. Secured cards thus provide…show more

    Primor® Secured Visa Gold Credit Card


    primor secured gold credit card
    • Secured Credit Card Min Deposit of $200
    • One-Time Fees None
    • Regular Rate 9.99%
    • Annual Fee $49
    • Monthly Fee None
    • Minimum Credit Bad

    Primor® Secured Visa Classic Credit Card


    primor credit card
    • Secured Credit Card Min Deposit of $200
    • One-Time Fees None
    • Regular Rate 13.99%
    • Annual Fee $39
    • Monthly Fee None
    • Minimum Credit Bad

    Open SkySM Secured Visa® Credit Card


    open sky credit card
    • Secured Credit Card Min Deposit of $200
    • One-Time Fees None
    • Regular Rate 17.5% (V)
    • Annual Fee $29
    • Monthly Fee None
    • Minimum Credit Bad
    • Rewards Details
    • Additional Info
    • Build Your Credit, with monthly updates to all 3 credit bureaus.
    • Control Your Finances, start with a security deposit and credit line as low as $200.
    • Extra Credit When You Need It, increase your credit line up to $5000.
    • Avoid paying interest, no interest charged on new purchases if the balance is paid in full by the due date each month.
    • Easy funding options, with 4 ways to fund and NO checking account needed.
    • After your Account is open for one year or more Capital Bank will charge you a Credit Limit Increase Fee of $25.00 each time you add Deposit Funds and increase the Credit Limit and a Credit Limit Decrease Request Fee of $25.00 each time you request a reduction in your Credit Limit.
    • Apply in less than 5 minutes.
    • See All Reviews & Details About The Open SkySM Secured Visa® Credit Card

    First Progress Platinum Select MasterCard® Secured Credit Card


    first progress secured credit card
    • Secured Credit Card Min Deposit of $300
    • One-Time Fees None
    • Regular Rate 14.99% (V)
    • Annual Fee $39
    • Monthly Fee None
    • Minimum Credit Bad
    • Rewards Details
    • Additional Info
    • Full-feature Platinum MasterCard secured credit card.
    • No credit history or minimum credit score required for approval.
    • Monthly reporting to all 3 major credit bureaus to help build credit.
    • Set your own credit limit, which is secured by your deposit of $300 - $2,000.
    • Deposit held at FDIC-insured bank.
    • 24/7 access to your account online.
    • The First Progress Platinum MasterCard Secured Card requires no credit history or minimum credit score for approval, but the refundable security deposit must be provided before a card can be issued. The new CARD Act regulations also require all credit card issuers to verify the identity of every applicant before approval. We can usually complete this identity verification using fast, automated methods, but it is sometimes necessary for us to contact an applicant in order to verify his or her identity. Applicants will receive their cards more quickly if they respond promptly to our call or letter relating to this verification process. Virtually every applicant who successfully provides the refundable security deposit and passes the identity verification step will be approved for the card. If you have applied for the card and have a question or want to check the status of your application, please call First Progress toll-free at (888) 403-4783.
    • Receive your card more quickly with new Expedited Processing option.
    • See All Reviews & Details About The First Progress Platinum Select MasterCard® Secured Credit Card

    First Progress Platinum Prestige MasterCard® Secured Credit Card


    first progress mastercard secured credit card
    • Secured Credit Card Min Deposit of $300
    • One-Time Fees None
    • Regular Rate 11.99% (V)
    • Annual Fee $44
    • Monthly Fee None
    • Minimum Credit Bad
    • Rewards Details
    • Additional Info
    • No credit history or minimum credit score required for approval.
    • Monthly reporting to all 3 major credit bureaus to help build credit.
    • Deposit held at FDIC-insured bank.
    • Set your own credit limit, which is secured by your deposit of $300 - $2,000.
    • The First Progress Platinum MasterCard Secured Card requires no credit history or minimum credit score for approval, but the refundable security deposit must be provided before a card can be issued. The new CARD Act regulations also require all credit card issuers to verify the identity of every applicant before approval. We can usually complete this identity verification using fast, automated methods, but it is sometimes necessary for us to contact an applicant in order to verify his or her identity. Applicants will receive their cards more quickly if they respond promptly to our call or letter relating to this verification process. Virtually every applicant who successfully provides the refundable security deposit and passes the identity verification step will be approved for the card. If you have applied for the card and have a question or want to check the status of your application, please call First Progress toll-free at (888) 403-4783.
    • Receive your card more quickly with new Expedited Processing option.
    • See All Reviews & Details About The First Progress Platinum Prestige MasterCard® Secured Credit Card

    Wells Fargo® Business Secured Credit Card


    wells fargo business secured card
    • Secured Credit Card Min Deposit of $500
    • One-Time Fees N/A
    • Regular Rate 13.15% (V)
    • Annual Fee $25
    • Monthly Fee None
    • Minimum Credit Bad
    • Rewards Details
    • Additional Info
    • You provide $500 to $25,000 to fund your business secured credit card. Your credit line will directly reflect the amount of your deposit.
    • Enroll in the Wells Fargo Business Card Rewards® program and earn rewards for every dollar you and your employees spend. A $50 annual fee covers all cards assigned to the business. The fee is waived for the first year for new Wells Fargo Business Secured Credit Card customers.
    • Zero Liability.
    • Overdraft Protection: Cover insufficient funds in your Wells Fargo business checking account with funds from your Wells Fargo Business Secured Credit Card by linking the two.
    • MasterRental® Insurance Coverage: Get full-value primary loss coverage (up to $50,000) and secondary personal effects coverage for rental vehicles.
    • Track and organize spending with a Business Spending Report. Monitor spending patterns, categorize card transactions, and set monthly goals.
    • See All Reviews & Details About The Wells Fargo® Business Secured Credit Card

    BBVA Compass Business Secured Credit Card


    bbva compass business secured credit card
    • Secured Credit Card Min Deposit of $500
    • One-Time Fees None
    • Regular Rate 16.24% (V)
    • Annual Fee None 1st yr, $40 after
    • Monthly Fee None
    • Minimum Credit Bad
    • Rewards Details
    • Earn 1 CompassPoint for every $1 you spend on qualifying purchases.
    • Redemption options – Redeem for cash back, account credits, gift cards, exciting travel options and name brand merchandise.
    • Save up to 30% on a variety of products and services from QuickBooks.
    • Shop with your enrolled Visa business credit card at participating merchants and save up to 15%.
    • Earn double and triple CompassPoints® in the categories you spend the most in. Choose from categories such as: office supplies, utilities, groceries, gas, travel and healthcare.
    • Additional Info
    • $0 Fraud Liability – If your business credit card is ever lost or stolen, you won’t be responsible for unauthorized charges.
    • Free Online account access allows you to review purchases, track employee spending and check balances.
    • The option of giving cards to key employees and setting individual limits helps you better manage spending.
    • Auto Rental Collision Damage Waiver Program – If you rent a car with your business credit card, you’ll be covered with collision, damage, and loss insurance.
    • Travel and Emergency Assistance – When you’re traveling for business, you can count on a wide range of Visa emergency services including ticket replacement, legal or medical referrals, and more—24 hours a day, 365 days a year.
    • Online account services – Manage employee business expenses with online tools that will help control, monitor and track card spending trends.
    • Secured by Your Savings – Before applying for the Business Secured Credit Card, you must open a Secured Credit Card Savings Account. The minimum opening deposit is $500. You can make deposits at any time in $100 increments.
    • See All Reviews & Details About The BBVA Compass Business Secured Credit Card
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    Community Discussion

    Ask a question or help others find the best credit card by sharing some tips.

     
    Oct 22, 2014
    By:
    I think a secured business credit card can help business owners improve their credit scores. It helps you build credit. I’ve tried the Wells Fargo Business Secure Credit Card. The minimum deposit is $500 which isn’t too bad for a business card.
    May 20, 2014
    By:
    Is it possible? Yes, if you have lots of money, but if you had lots of money your score probably wouldn’t be bad enough to need a secured card. Business secured cards are far less kind with their terms than personal secured cards. This makes it harder to improve your credit score because you will have to pay amounts you possibly can’t afford. In my experience the annual fee is usually 4-6 times as much for business cards than personal cards. The card companies can offer such high fees and rates because there is very little competition in the secured business card market.
    May 6, 2014
    By:
    When I first started my business my credit score was less than perfect. I got a secured credit card and it helped me with my credit score. As my business made more profit, I paid more on the card and got a higher limit. After a few months of using the card, and repaying it, my credit score went up several points.
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