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Advisor
Credit Cards
Best Business Credit Cards For Bad Credit

Advertiser Disclosure Updated: Apr 24, 2024, 2:22pm

Best Business Credit Cards For Bad Credit Of May 2024

Dylan PearlDeputy Editor

Over a decade of editorial experience across a number of publications and more than 60 countries visited have given Dylan Pearl a wealth of travel knowledge, and the tools to effectively communicate that knowledge to others. Dylan has made it his mission to see as much of the world as possible, and strives to give everyone the tools to get out and do the same with simple, actionable information.

Dylan Pearl

Dylan PearlDeputy Editor

Deputy Editor

Clint ProctorLead Editor, Credit Cards & Travel Rewards

Clint Proctor is a lead editor with the credit cards and travel rewards team at Forbes Advisor. He has five years of experience in personal finance journalism and has contributed to a variety of leading national publishers including Business Insider and MyFICO. Clint has redeemed millions of credit card points and miles to book budget-friendly travel and is passionate about helping others do the same.

Reviewed

Clint Proctor

Clint ProctorLead Editor, Credit Cards & Travel Rewards

Lead Editor, Credit Cards & Travel Rewards

Reviewed

Updated: Apr 24, 2024, 2:22pm

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.

Poor credit can make qualifying for most business credit cards—or any credit cards, for that matter—difficult. There are options for businesses without great credit, but most require a deposit, so be prepared to opt for a secured card.

If you’re convinced you need a business credit card, but your credit isn’t getting you the kinds of offers you want, there are options. Secured cards can get you started building or repairing your credit, and some even earn rewards. Others may offer upgrades to unsecured versions for good credit behavior.

Show Summary

Best Business Credit Cards For Bad Credit

Bank of America® Business Advantage Unlimited Cash Rewards Secured credit card *: Best for Business Travel Benefits
Business Edition® Secured Mastercard® Credit Card: Best for Large Credit Limits

Top Business Cards

Best Business Credit Cards For Bad Credit

Best for Business Travel Benefits

Bank of America® Business Advantage Unlimited Cash Rewards Secured credit card *

1.5% Reward Rate

Earn 1.5% cash back on every purchase

Welcome Bonus

N/A

Annual Fee

Regular APR

28.49% variable APR

Credit Score

Bad/Poor (0 - 649)

Editor's Take

This card is unique in that it’s available to business owners with less-than-stellar credit (in exchange for a security deposit), earns 1.5% cash back on all purchases and charges no annual fee.

Pros & Cons

No annual fee
Solid rewards for a secured card
Potential to graduate to an unsecured version

Deposit required
Foreign transaction fee: 3% of the U.S. dollar amount of each transaction
Balance transfer fee: 4% of each transaction

Card Details

Earn unlimited 1.5% cash back on all purchases
Rewards have no annual cap and don’t expire
Open your account with a security deposit (minimum $1,000). Upon approval your credit line will be equal to your deposit account
No annual fee

Best for Large Credit Limits

Business Edition® Secured Mastercard® Credit Card *

No Rewards

The Business Edition® Secured Visa® Credit Card does not offer rewards on purchases.

Welcome Bonus

N/A

Annual Fee

$39

Regular APR

25.99% variable

Credit Score

Bad/Poor (0 - 649)

Editor's Take

If you want a secured card for your business spending, this is one of the few options around. You’ll also earn interest on your security deposit.

Pros & Cons

Maximum $10,000 credit limit (requires a corresponding deposit)
Earn interest on security deposit
Build business credit

$39 annual fee
No option to graduate to an unsecured version of the card

Card Details

Request your credit limit between $2,000 and $10,000 (multiples of $100), when you apply. Subject to credit approval and a security deposit
$39 annual fee
Earn interest on your security deposit
Free management reporting and cash flow management tools
TurboTax and QuickBooks discounts

Summary of the Best Business Credit Cards for Bad Credit

Credit Card

Bank of America® Business Advantage Unlimited Cash Rewards Secured credit card

Business Edition® Secured Mastercard® Credit Card

Credit Card

Best For

Credit Score

Annual Fee

Welcome Bonus

Bank of America® Business Advantage Unlimited Cash Rewards Secured credit card

Best for Business Travel Benefits

Bad/Poor

N/A

Business Edition® Secured Mastercard® Credit Card

Best for Large Credit Limits

Bad/Poor

$39

N/A

Best Business Credit Cards for Bad Credit

The Bank of America® Business Advantage Unlimited Cash Rewards Secured credit card* offers rewards, has a $0 annual fee and a few modest travel benefits and purchase protections.

Rewards: Earn 1.5% cash back on all purchases.

Annual fee: $0

Other benefits and drawbacks: As a secured card, it requires a $1,000 minimum security deposit. The Bank of America® Business Advantage Unlimited Cash Rewards Secured credit card* offers a few convenience benefits including automatic payments and the ability to download transactions right into Quickbooks, which is nice, but nothing earth shattering.

The card’s travel benefits are where it takes you the extra mile: $100,000 in travel accident insurance, auto rental collision damage waiver, emergency ticket replacement, lost-luggage assistance and legal and medical referrals when away from home. Purchase and extended warranty protections and a $0 fraud liability are also included, a perk not so common to secured cards.

The Business Edition® Secured Mastercard® Credit Card* is another secured card for small businesses with some unique quirks. The card lets you choose your own credit limit subject to approval, up to an eye popping $100,000. As a secured card, it requires a deposit, but unlike most other secured cards, you can earn interest on said deposit. The card does not have much in the way of additional perks, but does have zero liability protection.

Rewards: This card does not earn rewards.

Annual fee: $39

Other benefits and drawbacks: The card allows you to request your own credit limit between $2,000 and $100,000, when you apply, subject to credit approval. However, your security deposit is 110% of the amount of your credit limit, meaning you have to give slightly more as a deposit than will be available to you as a credit limit.

Methodology

Forbes Advisor evaluated multiple credit cards to find and rank the best business cards for bad credit. For each credit card, we considered information that potential cardholders would use in their decision-making process, including:

Earnings rates
Business benefits
Ability to upgrade to an unsecured card
Welcome bonus
Introductory APR
Fees
Consumer benefits

Forbes Advisor rates cards both as stand-alone products (the card rating on the review) and compared to others in a specific use case (the card rating you see on a specific “Best” list). The rating for each card changes on different “Best” lists according to how a person looking for a card in that category may value certain card features.

For instance, a card that might be considered mediocre on a list of rewards cards could be the top card on a list of rewards cards with no annual fee. That’s because the card might offer limited features compared to other rewards cards, but after we remove cards that charge an annual fee, it’s the best card that remains.

Forbes Advisor uses data from multiple government agencies to determine how much a typical cardholder might spend. We use the same numbers for cards in the same category to make sure we are comparing cards the same way. The bonus categories for spending included with each card are factored into our determination of how many rewards a cardholder could expect to earn if they use the card as a consumer normally would.

Other Cards To Consider

There are numerous business credit cards that offer benefits that far outpace the cards on this list. However, those cards usually come with more stringent approval requirements. If you think you can qualify for a non-secured business card, that is likely going to net you better returns, assuming you can meet the increased financial obligations that come along.

Check out our list of best business cards and best cards for new businesses for more details.

How To Pick a Business Credit Card for Bad Credit

Finding the best business credit card for your business needs can be overwhelming. Before applying, carefully consider your options. Here are some things to consider:

Annual fees: Some secured or bad credit business credit cards charge an annual fee, so we suggest first looking at secured cards that don’t charge any fees. Upfront fees eat away at initial credit limits by reducing deposits and impact the power of rewards.
With secured cards, check minimum and maximum deposit amounts: Have the cash to make the deposit. Ensure the spending you charge to a secured card won’t surpass 30% of the total amount you plan to deposit if you only have the one card. The goal is to avoid high credit utilization and the resulting negative impact on your credit score. Verify that the maximum deposit amount won’t become a limiting factor on spending, even if you plan to exceed the recommended 30% credit utilization.
Make sure any card you’re considering reports to all three credit bureaus: The real value of a secured credit card is the opportunity to build credit, so make sure your card reports your credit activity to the three credit bureaus. Both cards on this list report your payments and balances to the credit bureaus.
Check for fees. Read the fine print. Make sure to check for fees hidden in the fine print. Some secured credit cards charge an application fee and an annual fee and many charge a monthly maintenance fee. The cards on this list are free of hidden fees which is a big part of why we rated them highly.
Rebuild your personal credit first: It often makes more sense to work on improving personal credit before applying for a business credit card. More (and better) personal secured card options exist for building credit. Consider the best business credit cards after building your credit so you can earn better rewards and score better perks.

Best Business Credit Cards 2024

Find the best business card for you & identify which factors matter for your business

Learn More

How To Get a Business Credit Card With Bad Credit

The process for getting a business card with bad credit is the same as applying for any other card. Once you find the card that you want, you can reach out to the issuer either online, over the phone or in person. You will need to provide some personal information such as your address, Social Security number and proof of income. If you are applying for a secured card, you’ll need to provide an upfront deposit as well.

Many of the best business credit cards require more in the way of credit scores. It may be worth your while to take some time to repair your credit before applying for a card. This may take extra time, but will be to your benefit in the long run if you can qualify for a card that offers more and better meets your needs.

Read more: How To Improve Your Credit Score

Frequently Asked Questions

Do business credit cards check personal credit?

Yes. Issuers will likely check your personal credit when you apply for a business card, especially if you have little or no credit history. This is a way for the issuer to determine your creditworthiness, so you’ll want to ensure that your personal credit is healthy before applying for any card.

What is the best business credit card for bad credit?

Admittedly, there are few options in this category. Carefully evaluate your options, spending habits and needs before choosing a business credit card.

Do I need to use my SSN to apply for a business credit card?

Not necessarily, but probably. A few card issuers do not require a business owner to provide a SSN, but many do because they require a personal guarantee against the line of credit provided. Businesses with sufficient assets, income or credit may be able to avoid the owner’s provision of a SSN.

Can I get a corporate credit card with bad credit?

Yes. While business cards require a personal credit check in most cases, corporate cards generally do not require a personal guarantee and usually do not run a personal credit check. So, if your company can demonstrate solid revenue and/or good business credit, you stand a good chance of approval even if your personal credit is subpar.

Next Up in Credit Cards

*The information for the following card(s) has been collected independently by Forbes Advisor: Bank of America® Business Advantage Unlimited Cash Rewards Secured credit card, Business Edition® Secured Mastercard® Credit Card. The card details on this page have not been reviewed or provided by the card issuer.

Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. Past performance is not indicative of future results.

Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.

Dylan Pearl

Deputy Editor

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