The Business Advantage Unlimited Cash Rewards Secured credit card offers significant value for small business owners who need to build credit. This card earns unlimited 1.5% cash back on all purchases and comes with a $0 annual fee.
How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.Best for cashback rewards from a major bank with potential card upgrade
Minimum deposit: $1,000
Credit limit: $10,000
The Bank of America Business Advantage Unlimited Cash Rewards Secured credit card is our pick for the best secured business credit card for several reasons. For starters, it’s the only card on our list from a major bank, and it has no annual fee. Small business owners with thin or poor credit can earn unlimited 1.5% cash back on all purchases while building credit.
In addition, cardholders may be invited to upgrade to an unsecured version of this business credit card after several months of responsible use. Qualified cardholders who can upgrade to the Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card can earn up to 2.62% cash back on all purchases if they also participate in the Bank of America Preferred Rewards® banking program.
Earn cash back with no personal guarantee requirement
Minimum deposit: N/A — must link financial accounts for review and show proof of $50,000 in cash reserves
Credit limit: Determined by Ramp and credit issuer
The no-annual-fee Ramp Visa Corporate Card is generally best for businesses with low or limited U.S. credit history who want a business credit card with no personal guarantee. This is a charge card, which means cardholders must pay their balance in full each month. This card also offers up to 20X the credit limit of other secured business credit cards, depending on your company’s creditworthiness.
The Ramp Visa Corporate Card comes with a full expense management system that tracks and uploads bill payments, company expenses, and other transactions across multiple corporate cards into a single software platform that integrates with your corporate financial accounts for easier accounting and reporting.
Cardholders will not be personally held liable for any debt incurred on the Ramp Visa Corporate Card. However, many businesses will not be eligible for the card, since qualifying applicants must be able to show a minimum of $50,000 in a business bank account.
How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.Intro APR offer
Get a 0% introductory APR for 6 billing cycles on purchases, followed by a 16.20%-27.75% APR
Minimum deposit: 110% percent of your approved credit limit
Credit limit: $1,000 to $25,000, based on customer request (requires 110% security deposit)
The no-annual-fee Valley Visa® Secured Business Credit Card is best for cardholders who want to avoid high-interest debt. New cardholders can take advantage of a 0% introductory APR for 6 billing cycles on purchases and 0% introductory APR for 6 billing cycles on balance transfers (followed by a 16.20%-27.75% APR). Zero-interest periods are rare among secured business credit cards, but very helpful for business owners looking to pay off large company purchases over time.
This card also offers unlimited 1% cash back on all purchases, as well as one of the higher credit limits available on a secured business credit card. However, cardholders must put up a security deposit of 110% of the requested credit line, up to $25,000.
How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.Best personal secured card for sole proprietors
Minimum deposit: Not publicly disclosed, was previously listed as $500 (as of May 2023)
Credit limit: Not publicly disclosed, was previously listed as a range of $500 to $25,000 (as of May 2023)
The First Tech Platinum Secured Mastercard® is a no-annual-fee card with a low APR and a high credit limit. Some small business owners, including sole proprietors, may find it convenient to use a personal credit card for business. However, make sure you use it exclusively for business expenses, and keep in mind that you won’t be able to build business credit with this card.
This card stands out because it doesn’t charge any fees for foreign transactions, balance transfers and cash advances. While many cards do not charge foreign transaction fees, cards without balance transfer or cash advance fees are few and far between. If you’re carrying a high-interest balance on another credit card, taking advantage of the no-fee balance transfer benefit can save you hundreds of dollars in transaction fees and future interest.
You can also earn rewards points on every purchase — 1 point per $1 on every purchase, redeemable for travel, merchandise, gift cards and more.
| Credit Cards | Our Ratings | Rewards Rate | Regular APR | Recommended Credit Credit scores ranges may vary. Your individual chance at approval may vary due to factors such as creditors using a particular variation at their discretion | |
|---|---|---|---|---|---|
|
Business Advantage Unlimited Cash Rewards Secured credit card*
Review Coming Soon
|
Overall winner
|
Unlimited 1.5% cash back on all purchases | 28.49% variable | See website for details* | Review Coming Soon |
|
Ramp Visa Corporate Card*
Learn More
on Celtic Bank's secure site |
No personal guarantee
|
1.5% cash back on all card spend | N/A | N/A |
Learn More
on Celtic Bank's secure site |
|
Valley Visa® Secured Business Credit Card*
Learn More
on Valley Bank's secure site |
0% intro APR
|
unlimited 1% cash back | 16.20%-27.75% | N/A |
Learn More
on Valley Bank's secure site |
|
First Tech Platinum Secured Mastercard®*
Learn More
on First Tech's secure site |
Best secured personal credit card for small business owners
|
1 point per $1 on every purchase | 14.25%-18.00% | N/A |
Learn More
on First Tech's secure site |
Secured credit cards can offer financial access for business owners with low or minimal credit. These cards require a security deposit, typically 100% or 110% of the desired credit limit, which the issuer holds as security for nonpayment.
Secured cards are more common in the consumer credit card world, where people use them to build or rebuild credit. But several small business secured credit cards allow business owners with fair or poor credit scores manage cash flow while building up their credit.
The best secured credit cards for business come with additional benefits such as cash back rewards, zero-interest introductory periods or no foreign transaction fees.
Secured business credit cards are relatively rare. Most major card issuers don’t offer secured business credit cards, although many do offer personal secured credit cards, which can sometimes work for sole proprietors. In general, if you want a small business credit card from a major issuer, you’ll need to build up your credit history until you qualify for an unsecured credit card.
Bank of America is an outlier, as a major issuer with a secured business credit card. It’s also our top pick for a secured business card for most businesses.
| Financial institution | Secured business credit card |
|---|---|
| Bank of America | Bank of America® Business Advantage Unlimited Cash Rewards Secured credit card |
| First National Bank of Omaha (FNBO) | FNBO Business Edition® Secured Mastercard® Credit Card |
| Ramp | Ramp Visa Corporate Card |
| Valley | Valley Visa® Secured Business Credit Card |
| Nav | Nav Secured Card (launching fall 2024) |
If you’re ready to apply for a secured business credit card, here’s what you’ll need to do:
A secured business credit card can be a great financial tool for business owners who do not qualify for products that require good to excellent credit. These cards typically require a cash deposit for security. In many cases, the amount you deposit with the card issuer becomes your credit limit on the card.
The Ramp Visa Corporate Card and Nav Secured Card report to Dun and Bradstreet.
The Ramp Visa Corporate Card reports to all three business credit bureaus.
Yes, responsibly using a secured business credit card can help business owners build business credit over time.
For this guide, LendingTree reviewed credit cards for small business owners that require a security deposit. To compile this list, we compared factors like annual fees and transaction fees, rewards for spending, potential credit limits and the ability to upgrade to better credit products in future.
Learn more about Lendingtree’s methodology and credit card rating system.
The information related to the Business Advantage Unlimited Cash Rewards Secured credit card, Ramp Visa Corporate Card, Valley Visa® Secured Business Credit Card, First Tech Platinum Secured Mastercard® and Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.
