Table Of Contents
- What Is A Secured Card For A Startup?
- Top Startup Business Credit Cards With No Credit
- 1. Brex Card
- 2. OpenSky Secured Visa Card
- 3. Discover It Secured
- 4. Revenued Business Card
- 5. Spark Classic From Capital One
- 6. Platinum Secured From Capital One
- 7. Credit One Platinum Visa For Rebuilding Credit
- 8. Citi Secured Mastercard
- 9. Bank Of America Business Advantage Unlimited Cash Rewards Secured Credit Card
- Final Thoughts
The Best Startup Business Credit Cards With No Credit In 2023
It is possible for startups to get a business credit card, even if the startup does not have any credit history. The bank or the financial institution that is offering the credit card is now considering the personal credit history of the business owner. If you are looking for startup business credit cards with no credit, read on through to the end of the article.
In this article, you will learn about various credit card options that are available for startups that do not have any credit history. We will list nine different credit cards that startups can use to make business-related investments. With respect to each option, we will share with you the name of the institution, the annual fee for the card, the rewards rate, and the business owner?s eligibility to get the card.
What Is A Secured Card For A Startup?
According to Nerdwallet.com,
?Business owners with no personal credit can use a secured card to build their credit score before upgrading to a startup business credit card with better rewards. Secured cards require an upfront deposit, which determines your credit limit, and some are available with no credit check. A secured personal card will help build your personal credit score, but not your business score.?
With the help of a secured card for your startup, you will get the chance to build credit. Apart from that, as a startup, you will also be able to avail yourself of various perks for your business, like cashback rewards, travel perks, APR period, and more.
Top Startup Business Credit Cards With No Credit
The following are some of the top startup business cards with no credit that you will need to watch for in 2023:
1. Brex Card
| Bank/ Financial Institution Name | Brex |
| Annual Fee | $0 |
| Rewards Rate | Up to 8 points with every spending of $1 |
| Eligibility | Must be able to meet a number of business metrics |
To avail of this card, you will not have to face credit checks and need not keep any personal guarantee. Furthermore, you will be able to make 8x points on common business expenses once you make daily automatic repayments.
2. OpenSky Secured Visa Card
| Bank/ Financial Institution Name | OpenSky |
| Annual Fee | $35 |
| Rewards Rate | None |
| Eligibility | Meet to have a monthly income greater than monthly expenses |
MerchantMaverick.com adds here –
?This credit card helps you establish a credit history by reporting your spending to the big three credit bureaus. Unfortunately, the card sports a $35 annual fee and a 3% foreign transaction fee, and though you may be able to upgrade to an unsecured card after six months.?
This card also has one of the best APRs of about 22%.
3. Discover It Secured
| Bank/ Financial Institution Name | Discover |
| Annual Fee | $0 |
| Rewards Rate | 2% cash back at gas stations and restaurants on every usage |
| Eligibility | No particular business/income requirements were disclosed |
There are no annual fees, and you will also get a good cashback program. It also reports to the top three credit bureaus.
4. Revenued Business Card
| Bank/ Financial Institution Name | Revenued |
| Annual Fee | $0 |
| Rewards Rate | 3% cash back on every purchase |
| Eligibility | Must have a business of at least 6+ months and maintain a positive account balance throughout have a monthly revenue of $10K+ |
You will not have to make any personal guarantee here and will also not face any credit checks. Furthermore, there are also no annual fees.
5. Spark Classic From Capital One
| Bank/ Financial Institution Name | Capital One |
| Annual Fee | $0 |
| Rewards Rate | 1% cash back on every purchase |
| Eligibility | Average credit is recommended. However, you may be able to qualify even if you have no credit history. |
There are no annual fees and foreign transaction fees. It also reports to the top three credit bureaus.
6. Platinum Secured From Capital One
| Bank/ Financial Institution Name | Capital One |
| Annual Fee | $0 |
| Rewards Rate | None |
| Eligibility | No particular business/income requirements were disclosed |
In this case, as well, there are no annual fees. Apart from that, you will also get a credit limit higher than your deposit amount.
7. Credit One Platinum Visa For Rebuilding Credit
| Bank/ Financial Institution Name | Credit One |
| Annual Fee | $75 due immediately$99 annual fee thereafter |
| Rewards Rate | 1% cash back on gas1% cash back on groceries1% cash back on mobile phone1% cash back on the internet1% cash back on cable1% cash back on satellite TV services |
| Eligibility | No particular business/income requirements were disclosed |
You will not have to make any security deposit here, and you will also get 1% cashback on spending categories.
8. Citi Secured Mastercard
| Bank/ Financial Institution Name | Citi® |
| Annual Fee | $0 |
| Rewards Rate | None |
| Eligibility | There must be no history of bankruptcy in the last 2 years |
There are no annual fees, and you will also get a good cashback program. It also reports to the top three credit bureaus.
9. Bank Of America Business Advantage Unlimited Cash Rewards Secured Credit Card
| Bank/ Financial Institution Name | Bank of America® |
| Annual Fee | $0 |
| Rewards Rate | 1.5% cash back on every purchase |
| Eligibility | There must be no history of bankruptcy in the last 2 years |
With this card, you will get a variety of benefits. Some of them include travel insurance benefits, including up to $100,000 in travel accident coverage, lost luggage assistance, emergency ticket replacement, auto rental insurance, and more.
Final Thoughts
Hope this article was helpful for you to get an idea of the best startup business credit cards with no credit. If you want to get a credit card for your business, consider choosing from among the options mentioned above based on what your business needs at the moment. However, realistically speaking, for startups with no credit, the options are limited.
The options that are given above are great places to start if you are the owner of a startup and are seeking your first credit card. Choosing one of these options will let you build your credit. Do you have any more suggestions regarding credit cards for startups with no credit? Share your options with us in the comments section below.
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