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Business Credit Cards

Having a good business credit score is one of the most essential aspects to building a successful business. Keeping on top of your business credit score can improve your chances of getting a business credit card.

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Best Business Credit Cards to Build Credit

UPDATED: OCTOBER 12, 2021

If you’re a new startup founder or small business owner, building your business credit score from scratch can be a challenge. You’re likely aware that having a good business credit score is the stepping stone for growing and expanding your business, and that banks and other credit lending institutions rely on this score as an indicator of your creditworthiness before deciding whether to extend you a business loan or line of credit.

So how do you get started?

One of the easiest and fastest ways for a business to build its credit score is by using a business credit card (not a personal credit card!). Using a credit card for everyday business expenses and making timely payments over time will help you build a strong credit history. However, for businesses starting anew or those with poor credit scores after some years in business, it can seem tricky to qualify for business credit cards with its myriad of financial requirements.

Remember that you need to build business credit with a small business credit card. You won't apply for a small business credit card with your personal credit score, as card issuers typically ask for your business's information and require that your business credit card only be used for business expenses. That's also something to keep in mind if you're planning on doling out employee cards: make sure those cardholders don't use the credit card for any personal expenses.

Not to worry — all it takes is finding the right business credit card that is suited to your business needs and current credit score.

If you are a new business owner, or your business has a poor or average credit score, here are seven business credit cards for you to consider.


Capital One® Spark® Classic for Business Credit Card

Ideally, the best business credit cards give its users additional lines of credit, low fees, discounts and rewards. For businesses with an average credit rating that don’t quite qualify for the top of the line credit cards, the Capital One® Spark® Classic for Business is a great option.

The Capital One business credit card is designed with simplicity in mind and is one of the easiest credit cards to get if you have less than stellar poor or fair credit. The biggest drawback of this business credit card is its high yearly annual percentage rate (APR) of 26.99% (variable). Despite this, the card has some pretty cool perks.


Pros of the Capital One® Spark® Classic for Business

Here's all the good stuff about this business credit card.

  • No introductory APR
  • Unlimited 1% cash back rewards on purchases
  • Can be applied by those with average credit score
  • Free employee cards with spending limits
  • No charges for balance transfer

Cons of the Capital One® Spark® Classic for Business

Here are the not so great things about this credit card.

  • High yearly variable APR of 26.99% with a late penalty, 29.4% variable APR

Brex Business Credit Card

This card offers many incentives that are hard to find under one business credit card. The Brex business card (paid monthly) caters especially to startups, and doesn’t require you to guarantee the debt on the card. For the purposes of this article, we’re going to talk about the card that’s paid monthly.

Instead of approval hinging on your business credit score, its measure of creditworthiness depends on your cash balance, spending habits and investors. It also reports to credit bureaus, making it a potential great fit for new businesses with no credit.


Pros of the Brex Business Credit Card

Here's all the good stuff about this business credit card.

  • Reports to business credit reporting agencies
  • Able to track spending expenditure of multiple cards with automated expense tracking
  • Great introductory rewards points, such as 5x points on Brex travel and 3x points for recurring software expenses
  • Quick approval process with no personal credit checks required.
  • Able to issue card to employees virtually
  • Higher limits than most of the cards in the market
  • No personal guarantee

Cons of the Brex Business Credit Card

Here are the not so great things about this credit card.

  • Minimum balance of $50,000 bank account required to be approved
  • On the monthly card, you are required to pay bills every 30 days since it’s a charge card

Wells Fargo Business Secured Credit Card

This is a secured credit card for business owners who are able to afford a larger security deposit. The Wells Fargo Business Secured Credit Card will also help to build your business’s credit over a period of time which can help you qualify for an unsecured credit card in the future. If you are not able to get unsecured business credit, this card could work well for you.


Pros of the Wells Fargo Business Secured Credit Card

Here's all the good stuff about this business credit card.

  • No foreign transaction fees
  • No annual fee
  • Low APR rates (variable 13.24% - 19.24%)
  • Great rewards program
  • Monitor employee spending and business expenditures
  • Grace period of up to 25 days on purchases

Cons of the Wells Fargo Business Secured Credit Card

Here are the not so great things about this credit card.

  • Limited to 10 employee cards
  • Must have or open a Wells Fargo business checking or savings account prior to applying
  • Requires cash deposit ($500 to $25,000)

Chase® Ink Business Unlimited® Card

If rewards and cash back programs are a top priority for you, the Chase® Ink Business Unlimited® will likely be the business credit card of your choice. The best part about this card is its generous $750 sign-up bonus if you spend $7,500 in the first three months after account opening (as of the last update of this article). Since Chase reports your account activity to business credit bureaus, this card sets the perfect base for you to build your business credit history. This card also opens the portal to Chase Ultimate Rewards, which can compound your travel rewards, get you bonus points, give you access to credit card offers, and more.


Pros of the Chase® Ink Business Unlimited® Card

Here's all the good stuff about this business credit card.

  • Unlimited fixed rate 1.5% cash back rewards on all business purchases
  • No annual fee
  • No intro APR for up to 12 months
  • Allows you to transfer rewards and points to other Chase Ink business credit cards

Cons of the Chase® Ink Business Unlimited® Card

Here are the not so great things about this credit card.

  • 5% balance transfer fee
  • APR will be charged on balance transfer

Blue Business Cash™ Card from American Express

This card could be another suitable option for businesses with no credit history that are looking for an appropriate business card to start their businesses. The main selling point of the Blue Business Cash™ Card from American Express  is that it allows you to spend higher than your credit limit. The card’s Expanded Buying Power feature adjusts with your use of the card, your payment history, credit record, and other factors.

Though Expanded Buying Power is a nice perk, do keep in mind that high credit usage could lower your credit score. It’s also important to ensure your payment is made on or before it is due in order to build and maintain good credit.


Pros of the Blue Business Cash™ Card from AmEx

Here's all the good stuff about this business credit card.

  • 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%, applied automatically to your statement
  • 0% APR for first 12 months
  • Ability to spend above credit limit
  • Extended warranty by up to one year

Cons of the Blue Business Cash™ Card from AmEx

Here are the not so great things about this credit card.

  • 2% cash back on annual spending for only up to $50,000

Divvy Card

Divvy is not just a business credit card—it’s an innovative card-plus-software solution to help your small business with expense reporting and budgeting. What that means is that your Divvy card automatically syncs with Divvy’s expense management software. Their software platform is free to use, as they make money off the transaction fees paid by the merchant when you use your Divvy Visa. If your business is made up of a small team or you’re running it solo, this may be a great choice to easily organize your business finance and planning.

On top of a physical Divvy card, each user can access virtual credit cards on their mobile device. The virtual card feature helps you control how much you spend and stay within your budget limits.

Pros of the Divvy Card

Here's all the good stuff about this business credit card.

  • Free - no annual, monthly, initiation, or hidden fees
  • Expense reporting and smart budgeting tool
  • Builds your credit history by reporting to the Small Business Financial Exchange (SBFE) (which means it reports to all major credit bureaus)
  • Rewards based on frequency of payments
  • Weekly payments earn you the most rewards at 7x on restaurants, 5x on hotels, 2x on recurring software subscriptions, and 1.5x on everything else
  • Rotating special offers through its corporate partners such as Google Ads, Amazon Web Services and Bamboo HR
  • Does not require personal guarantee

Cons of the Divvy Card

Here are the not so great things about this credit card.

  • Lack of clear eligibility information for those interested
  • Interest rate fees not stated on the website

Ramp Corporate Card

Ramp is another fintech two-in-one solution with its Ramp corporate card and spend management platform. This card is designed to help your business spend less by delivering deep insights into your company spending habits and areas for cost-cutting measures.


Pros of the Ramp Corporate Card

Here's all the good stuff about this business credit card.

  • No personal guarantee required for company founders
  • Expense management platform and cost insights
  • No APR since its a charge card
  • 10x-20x higher limits
  • 1.5% unlimited cash back on purchases
  • Unlimited number of employee cards and instant virtual card issuance
  • Slack integration (fancy!)

Cons of the Ramp Corporate Card

Here are the not so great things about this credit card.

  • Sole proprietors are not eligible
  • Business integrations at additional cost
  • Difficult to finance large purchases with 30-day payment term

Summary

Overall, there are many great credit card options available in the market for startups and small business owners. The key is to look into multiple aspects of what the card has to offer to see if it can help you maximize rewards and meet your goals. This way you get a credit card tailored to your business needs while building a strong credit score. Once you choose the ideal card for your business, take care of your credit score by keeping your credit utilization down, maintaining good payment habits, and spending within your financial means.

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