Top startup business credit cards with no credit

Panna Kemenes

19.12.22 (updated more than 1 year ago)

7 minute read

According to the Small Business Administration (SBA), 67% of small US businesses have at least one business credit card.¹

Business credit card issuers can use your personal credit score to determine your eligibility. So start-ups can get them - though with reduced rewards compared to credit cards based on business credit score.

In this article, we’re looking at the best startup business credit cards with no credit.

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Best startup business credit cards with no credit

Depending on the reward system you want, as well as your personal credit score, different providers will suit you better.

For example, the Brex Credit Card allows you to build a credit score almost from scratch, but limits your spending ability.

The following two options are best for businesses looking to build or rebuild credit history.

Brex Credit Card for startups and enterprises

The Brex credit card offers you the chance to build your business credit history while protecting your personal information.

Credit limits are determined by your business’ financial information and there is no personal guarantee needed.² This means that if your company fails, only your business assets are at risk - not your personal ones.

On top of this, there are many rewards and points on offer, as well as no annual fees.

Brex uses your Employer Identification Number (EIN), rather than Social Security Number (SSN), making sole proprietors, consumers and unregistered businesses ineligible. Your business must be based in the US to be eligible.²

The Brex card is more of a charge card than a credit card. This means that outstanding balances can’t be carried into the next month. Repayments must be made daily or monthly.²

Daily repayments can limit your spending ability, as your credit limit is capped at 100% of your Brex Cash account’s balance.²

Monthly repayments can be difficult to qualify for. You’ll need a minimum of $50,000 USD in your US bank account if you have investors, or $1,000,000 USD if you’re self-funded.³

On top of this, your credit limit is dynamic and varies with your business’ cash flow. This means that if your cash flow decreases, so does your credit limit.

✅ Pros	❌ Cons
No personal guarantee required, meaning your personal credit score is unaffected Your personal information is protected as your credit limit is determined by your company’s financial information² No annual fees or interest² Ability to build a business credit history² 10-20x higher credit limits compared to traditional corporate credit cards (for monthly paid cards)² Earn points and rewards with multipliers² Earn special rewards if your company is in the life sciences or tech categories² Integrations with Quickbooks, Xero and other third party software² Use your card in 100+ countries worldwide⁴ Issue unlimited employee cards and track expenses² Brex card grows with your business - ability to upgrade your card for higher credit limits and increased rewards⁵	For monthly paid cards, minimum balance of $50,000 USD in US bank account required for companies with investors; $1,000,000 USD in US bank account required for self-funded companies³ No revolving balance, as it is a charge card, meaning debt must be repaid either daily or monthly depending on your subscription plan Daily paid cards are limited to 100% of the amount in your company’s account balance, limiting your ability for large purchases² Intro APR not available

✅ Pros

❌ Cons

No personal guarantee required, meaning your personal credit score is unaffected
Your personal information is protected as your credit limit is determined by your company’s financial information²
No annual fees or interest²
Ability to build a business credit history²
10-20x higher credit limits compared to traditional corporate credit cards (for monthly paid cards)²
Earn points and rewards with multipliers²
Earn special rewards if your company is in the life sciences or tech categories²
Integrations with Quickbooks, Xero and other third party software²
Use your card in 100+ countries worldwide⁴
Issue unlimited employee cards and track expenses²
Brex card grows with your business - ability to upgrade your card for higher credit limits and increased rewards⁵

For monthly paid cards, minimum balance of $50,000 USD in US bank account required for companies with investors; $1,000,000 USD in US bank account required for self-funded companies³
No revolving balance, as it is a charge card, meaning debt must be repaid either daily or monthly depending on your subscription plan
Daily paid cards are limited to 100% of the amount in your company’s account balance, limiting your ability for large purchases²
Intro APR not available

First National Bank Business Edition® Secured Mastercard® Credit Card

The First National Bank Business Edition Mastercard is a secured credit card. Secured cards help you build or rebuild your credit history. This makes it a great credit card for startup businesses with no credit.

With this card, you can request your own credit limit between $2,000-$100,000 USD, subject to First National Bank’s approval.⁶

You’ll benefit from Mastercard savings such as automatic rebates and up to $20 USD on TurboTax federal products. You can also earn interest on your security deposit.⁶

But, you’ll have to pay an annual fee of $39 USD.⁷

Additionally, there’s a variable APR of 23.24% on balance transfers and purchases, as well as 28.24% on cash advances.⁷

The card offers little in the way of rewards. And if you’re engaged in international business, the 3% foreign transaction fee could hurt in the long run.⁷

✅ Pros	❌ Cons
Request your own custom credit limit between $2,000-$100,000 USD (in $50 multiples), subject to approval⁶ Contactless card⁶ 30% discount on Quickbooks subscription for 12 months⁶ Earn interest on your security deposit⁶ With automatic rebates, you can save on purchases at over 40,000 participating Mastercard Easy Savings locations⁶ Zero liability policy means you won’t be held responsible for fraudulent charges⁶ Free cash flow management and reporting software available⁶ Ability to build business credit history⁶ Up to $20 in savings on TurboTax federal products⁶	Annual fee of $39 USD⁷ Variable 23.24% APR balance transfers and purchases (determined by Prime Rate)⁷ No reward scheme 3% Foreign Transaction fee⁷

✅ Pros

❌ Cons

Request your own custom credit limit between $2,000-$100,000 USD (in $50 multiples), subject to approval⁶
Contactless card⁶
30% discount on Quickbooks subscription for 12 months⁶
Earn interest on your security deposit⁶
With automatic rebates, you can save on purchases at over 40,000 participating Mastercard Easy Savings locations⁶
Zero liability policy means you won’t be held responsible for fraudulent charges⁶
Free cash flow management and reporting software available⁶
Ability to build business credit history⁶
Up to $20 in savings on TurboTax federal products⁶

Annual fee of $39 USD⁷
Variable 23.24% APR balance transfers and purchases (determined by Prime Rate)⁷
No reward scheme
3% Foreign Transaction fee⁷

Best startup business credit cards based on personal credit

These credit cards will be suitable for businesses looking to open a business credit card based on personal credit. They won’t be an option for startups with no or low personal credit score.

These options offer slightly higher rewards however. The Chase Ink Card, for example, offers $900 USD bonus cash back after spending $6,000 on purchases within first three months of opening account.

Let’s take a look at the best startup business credit cards.

Capital One® Spark® Classic for Business

The Capital One Spark Classic for Business credit card is a good choice if you want to benefit from travel related rewards.

It comes with 1% cashback on eligible purchases, in addition to 5% back on hotels and rental cars when booked through Capital One Travel.¹⁷ You’ll have access to other travel benefits, such as transferable air miles and zero foreign transactions fees, making it ideal for international business. ¹⁸

But, there’s no intro APR. On top of this, the purchase and balance transfer APR rate is high, standing at 28.49%, varying with the Prime Rate.¹⁷

You’ll need a fair credit score in order to be eligible for an account.¹⁷

✅ Pros	❌ Cons
1% cashback on eligible purchases. 5% cashback on hotels and rental cars booked via Capital One Travel¹⁷ No annual fee¹⁷ Build your credit history¹⁷ Ability to assign an account manager and set up automatic payments¹⁷ Ability to select your own monthly due date to suit your business’ needs¹⁷ Free additional cards for employees with spending limits, which generate extra rewards¹⁷ Extended warranty available on eligible purchases¹⁷ Fraud and security alert system¹⁷ No foreign transaction fees¹⁸ Access to Capital One Travel for competitive rates on travel¹⁸ Integrations with Quickbooks, Xero and other software¹⁸ Rewards without expiration dates¹⁷ Zero fraud liability if your card is stolen or lost, and an immediate cash advance and replacement card¹⁷	No intro APR 28.49% APR varying with Prime Rate for purchase and balance transfers¹⁷

✅ Pros

❌ Cons

1% cashback on eligible purchases. 5% cashback on hotels and rental cars booked via Capital One Travel¹⁷
No annual fee¹⁷
Build your credit history¹⁷
Ability to assign an account manager and set up automatic payments¹⁷
Ability to select your own monthly due date to suit your business’ needs¹⁷
Free additional cards for employees with spending limits, which generate extra rewards¹⁷
Extended warranty available on eligible purchases¹⁷
Fraud and security alert system¹⁷
No foreign transaction fees¹⁸
Access to Capital One Travel for competitive rates on travel¹⁸
Integrations with Quickbooks, Xero and other software¹⁸
Rewards without expiration dates¹⁷
Zero fraud liability if your card is stolen or lost, and an immediate cash advance and replacement card¹⁷

No intro APR
28.49% APR varying with Prime Rate for purchase and balance transfers¹⁷

Chase Ink Business Unlimited® Credit Card

The Chase Ink Business Unlimited credit card offers small business owners a generous sign-up offer and a flat rate of 1.5% cash back on purchases.⁸ Similarly, 12 month intro APR and no annual fees also help to keep costs low.⁸ ⁹

However, this card doesn’t offer many benefits for specific business categories. On top of this, the 3% foreign transaction fee could hurt your business if international transactions are frequent.⁹

You’ll need a good to excellent credit score (670-850) to apply for a credit card.¹⁰

✅ Pros	❌ Cons
No annual fee⁹ $900 USD bonus cash back after spending $6,000 on purchases within first three months of opening account⁸ Earn 1.5% unlimited cash back on every purchase⁸ 0% intro APR for the first 12 months after opening an account. Changing to 16.99%–22.99% variable APR after⁸ Free additional cards for employees, with spending limits and increased potential to earn rewards⁸ Fraud and Purchase Protection, as well as personalized account alerts⁸ Redeem rewards for gift cards, travel, cash back and morevia Chase Ultimate Rewards⁸	No exclusive rewards for specific business categories 3% Foreign Transaction fee⁹ Good to excellent credit score required¹⁰

✅ Pros

❌ Cons

No annual fee⁹
$900 USD bonus cash back after spending $6,000 on purchases within first three months of opening account⁸
Earn 1.5% unlimited cash back on every purchase⁸
0% intro APR for the first 12 months after opening an account. Changing to 16.99%–22.99% variable APR after⁸
Free additional cards for employees, with spending limits and increased potential to earn rewards⁸
Fraud and Purchase Protection, as well as personalized account alerts⁸
Redeem rewards for gift cards, travel, cash back and morevia Chase Ultimate Rewards⁸

No exclusive rewards for specific business categories
3% Foreign Transaction fee⁹
Good to excellent credit score required¹⁰

American Express Blue Business Cash™ Card

The American Express Blue Business Cash Card comes with no annual fee and gives you 2% cashback.¹² ¹³

The card offers an initial $250 USD statement credit, as well as 0% intro APR for the first 12 months. Extra features such as Rental Car Insurance, Extended Warranties and Purchase Protection make it an attractive option.¹³

You can also spend above your credit limit when necessary, keeping you flexible. However, 2% cashback is capped at $50,000 USD in the calendar year, decreasing to 1% after this.¹³

On top of this, limited travel specific rewards and a 2.7% foreign transaction fee make this card unattractive if you’re on the move a lot.¹³

A good to excellent credit score is needed to apply for an American Express Blue Business Cash Card.¹⁴

✅ Pros	❌ Cons
After spending $3,000 USD in purchases, earn a $250 USD statement credit¹³ No annual fee¹² Intro APR of 0% for the first 12 months. Increases to a variable rate of 16.99-24.99%, determined by your creditworthiness¹³ Earn 2% cashback on everyday eligible purchases up to $50,000 USD per year. Decreases to 1% after that. Automatically credited to your statement.¹³ Use your American Express card at 99% of the places that accept credit cards in the US¹³ Ability to spend beyond your credit limit with Expanded Buying Power¹³ Give power to a trusted account manager¹³ Travel benefits such as Global Assist Hotline and Rental Car Loss and Damage Insurance available for card holders (dependent on terms and conditions)¹³ 90 day Purchase Protection on eligible purchases (up to $1,000 USD per occurrence and $50,000 USD total in the calendar year)¹³ Quickbooks integration available¹³ Extended Warranty on eligible purchases (products with warranties of 5 years or less)¹³	Rewards have caps¹³ Good to excellent credit score required 2.7% foreign transaction fee¹²

✅ Pros

❌ Cons

After spending $3,000 USD in purchases, earn a $250 USD statement credit¹³
No annual fee¹²
Intro APR of 0% for the first 12 months. Increases to a variable rate of 16.99-24.99%, determined by your creditworthiness¹³
Earn 2% cashback on everyday eligible purchases up to $50,000 USD per year. Decreases to 1% after that. Automatically credited to your statement.¹³
Use your American Express card at 99% of the places that accept credit cards in the US¹³
Ability to spend beyond your credit limit with Expanded Buying Power¹³
Give power to a trusted account manager¹³
Travel benefits such as Global Assist Hotline and Rental Car Loss and Damage Insurance available for card holders (dependent on terms and conditions)¹³
90 day Purchase Protection on eligible purchases (up to $1,000 USD per occurrence and $50,000 USD total in the calendar year)¹³
Quickbooks integration available¹³
Extended Warranty on eligible purchases (products with warranties of 5 years or less)¹³

Rewards have caps¹³
Good to excellent credit score required
2.7% foreign transaction fee¹²

Alternative options for business cards with no credit

While the average APR for consumer credit cards is 14.52%, business cards charge a higher average interest rate of 19.71%.¹ And if you have a low credit score, then qualifying for lower interest rates is difficult.

If you need a business account but aren’t able to qualify for a business credit card, or don’t want to risk damaging your personal credit score, then business debit cards could be an option for you.

The Wise Business debit card - for sole traders and single member LLCs only - is a good option in this case. With Wise, you can open a business account without harming your personal credit during the hard checks involved in opening a business credit card.

Discover Wise Business
Easy to set up, easy to use

Something most business credit cards have in common is the foreign transaction fees. This is also something to consider if you deal with overseas suppliers or customers.

Wise Business helps save money by always using the mid-market rate, and no hidden fees. It also comes with a host of business tools, such as QuickBooks integration, to make life easier for your business.

🔍 Read next:
How do I open a Wise account for my business? Best no PG business credit card options

Sources:

All sources checked December 19, 2022.

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