Starting a new business can be an exciting journey, but obtaining financing and building credit can be a challenge, especially if you have no credit history. Fortunately, there are credit card options available that are specifically designed for startup businesses with no credit.
These startup business credit cards offer a unique opportunity to establish and build credit without a prior credit history. They not only provide the financial safety net needed to launch a business but also offer benefits such as rewards programs and low or no annual fees.
Whether you’re a solopreneur or have venture backing, there is a startup business credit card that can meet your needs. Below are some of the best options to consider:
Key Takeaways:
- Startup business credit cards with no credit provide opportunities to build credit history for new businesses.
- These cards offer benefits like rewards programs and low or no annual fees.
- Top options include the Ink Business Unlimited® Credit Card, Capital One Spark Miles for Business, and the Brex Card.
- Consider factors such as rewards rates, annual fees, and credit limits when choosing a startup business credit card.
- These credit cards can help establish a business credit profile and manage expenses effectively.
Ink Business Unlimited® Credit Card
The Ink Business Unlimited® Credit Card is an excellent choice for startup businesses looking for a credit card option with no credit history required. Offering a range of benefits and rewards, this card can help new businesses establish their financial foundation and earn valuable cash back.
No Annual Fee and Cash Back Rewards Rate
This credit card has no annual fee, making it a cost-effective choice for startups. In addition, the Ink Business Unlimited® Credit Card offers a competitive 1.5% cash back rewards rate on all eligible purchases. This means that for every dollar spent, businesses can earn rewards that can be reinvested back into the company.
Bonus Cash Back and No Reward Caps
New cardholders have the opportunity to earn a generous $900 bonus cash back. To qualify for this bonus, businesses must spend $6,000 within the first three months of card membership. This bonus can provide a significant financial boost and help startups cover essential expenses.
Furthermore, the Ink Business Unlimited® Credit Card does not impose reward caps, allowing businesses to continue earning cash back on their spending without limitations.
Flexible Redemption Options and Employee Card Benefits
When it comes to redeeming rewards, the Ink Business Unlimited® Credit Card provides flexibility. Cardholders can choose to redeem their cash back for a variety of options, including cash back itself, gift cards, travel bookings, and more. This versatility allows businesses to use their rewards in a way that aligns with their specific needs and goals.
Business owners can also maximize their rewards and earn cash back faster by adding employee cards at no additional cost. This feature can be particularly advantageous for startups that have multiple employees making business-related purchases.
| BENEFITS | DETAILS |
|---|---|
| No Annual Fee | No annual fee for the Ink Business Unlimited® Credit Card. |
| Cash Back Rewards | Earn a 1.5% cash back rewards rate on all eligible purchases. |
| Bonus Cash Back | New cardholders can earn $900 bonus cash back after spending $6,000 in the first 3 months. |
| No Reward Caps | There are no reward caps, allowing unlimited cash back earnings. |
| Flexible Redemption Options | Redeem rewards for cash back, gift cards, travel, and more. |
| Employee Card Benefits | Add employee cards at no additional cost for faster rewards accumulation. |
Capital One Spark Miles for Business
The Capital One Spark Miles for Business card is a great option for small businesses looking to establish credit without a credit history. With its attractive rewards program and travel benefits, this card offers excellent value for business owners.
The Capital One Spark Miles for Business card provides a 2x-5x rewards rate on purchases, allowing cardholders to earn significant miles with every dollar spent. Additionally, new cardholders can enjoy a one-time bonus of 50,000 miles, providing a substantial boost to their rewards balance.
One of the standout features of this card is the opportunity to earn 2x miles per dollar on all purchases and 5x miles on hotels and rental cars booked through Capital One Travel. This allows small business owners to maximize their rewards potential, especially if travel is a significant part of their business.
The earned miles can be transferred to over 15 travel loyalty programs, providing flexibility and a wide range of redemption options. Whether it’s booking flights, hotel stays, or other travel-related purchases, the rewards earned with the Capital One Spark Miles for Business card can enhance the business travel experience.
It’s worth noting that the annual fee for the Capital One Spark Miles for Business card is $0 during the first year, making it an appealing choice for businesses looking to maximize their rewards without incurring hefty upfront costs. After the introductory period, the annual fee is $95, which can still be worthwhile considering the potential rewards and benefits offered by the card.
With its attractive rewards program, travel benefits, and flexible redemption options, the Capital One Spark Miles for Business card is an excellent choice for small businesses with no credit history. Whether you’re seeking to earn miles for future travel or simply looking to establish credit, this card can help you achieve your goals and provide value for your business.
Ink Business Preferred® Credit Card
The Ink Business Preferred® Credit Card is an excellent choice for startups with venture backing and no credit history. It offers a New cardholder bonus offer of 100,000 Points after spending $8,000 in the first 3 months, providing a valuable boost to business finances. The card is designed to cater to the unique needs of startups, providing a solid foundation to build credit and establish a business credit profile.
Key features of the Ink Business Preferred® Credit Card include:
- 3x points per $1 on travel and select business categories
- 1x points per $1 on all other purchases
- Flexible redemption options through Chase Ultimate Rewards, including cash back, gift cards, travel, and more
- An annual fee of $95
With its generous rewards program and opportunities for redemption, the Ink Business Preferred® Credit Card helps startups maximize their spending and get the most value out of their credit card. Whether it’s earning points on travel expenses or everyday business purchases, the card offers flexibility and benefits that align with the needs of startups.
Brex Card
Brex Card is an excellent choice for startups looking for a business credit card with no credit check or security deposit requirements. It offers a seamless application process, making it accessible for entrepreneurs without an established credit history. With a Brex Card, startups can gain access to the funds they need to fuel their growth and manage day-to-day expenses.
One of the standout features of the Brex Card is its generous rewards program. Cardholders can earn 7x points on rideshare services, 4x points on Brex Travel, 3x points on restaurant purchases, and 2x points on software subscriptions. These industry-leading multipliers allow startups to maximize their rewards and receive valuable benefits that can contribute to their bottom line.
The Brex Card also offers a competitive new cardholder bonus of 10,000 Points after spending $3,000 in the first 3 months. This bonus can provide startups with an immediate boost as they navigate their early stages of growth.
In addition to its rewards program, the Brex Card provides credit limits that are 10-20 times higher than traditional small business corporate cards. This higher credit limit can provide startups with the financial flexibility they need to invest in their operations and scale their business.
Moreover, the Brex Card is designed with the needs of startup founders in mind. It offers a miles transfer program to 7 major airlines and their loyalty programs, allowing startups to utilize their rewards for travel-related expenses. The card also has no foreign transaction fees, making it a convenient option for startups with international operations.
Overall, the Brex Card is an exceptional choice for startups seeking a business credit card with no credit check and impressive rewards. Its generous credit limits, industry-leading multipliers, and valuable new cardholder bonus make it a standout option for entrepreneurs looking to establish and grow their businesses.
| Rewards | Bonus Offer | Credit Limit | Additional Benefits |
|---|---|---|---|
| 7x on rideshare | 10,000 Points after spending $3,000 in the first 3 months | 10-20x higher than traditional small business corporate cards | Miles transfer program to 7 major airlines and their loyalty programs |
| 4x on Brex Travel | – | – | No foreign transaction fees |
| 3x on restaurants | – | – | – |
| 2x on software subscriptions | – | – | – |
Capital One Spark Classic for Business
The Capital One Spark Classic for Business is a good option for startups with limited or no credit history. This credit card is specifically designed for small business owners who have a limited credit history but still want the benefits of a business credit card.
One of the key features of the Capital One Spark Classic is its 1% cash back rewards rate on all purchases. This means that for every dollar spent, you will earn 1% cash back, helping you save money on your business expenses. The cash back rewards can be used to reinvest in your business or offset costs.
Additionally, the Capital One Spark Classic for Business has no annual fee, which is a great advantage for startups on a tight budget. With no annual fee, you can enjoy the benefits of a business credit card without any additional costs.
One of the main benefits of the Capital One Spark Classic is its ability to help build credit history. By using this credit card responsibly and making timely payments, you can establish a positive credit history for your startup. This is crucial for future financing opportunities and establishing credibility with lenders and suppliers.
The table below provides a comparison of the Capital One Spark Classic for Business with other startup credit cards:
| Credit Card | Cash Back Rewards | Annual Fee | Credit History Requirements |
|---|---|---|---|
| Capital One Spark Classic for Business | 1% cash back on all purchases | No annual fee | Limited or no credit history |
| Ink Business Unlimited® Credit Card | 1.5% cash back on all purchases | No annual fee | Limited credit history |
| Capital One Spark Miles for Business | 2x-5x miles on purchases | $0 intro for first year, then $95 annual fee | No credit history |
The Capital One Spark Classic for Business provides average rewards for a cash back credit card, making it a suitable choice for startups looking to establish credit history and earn cash back on their business expenses.
OpenSky® Secured Visa® Credit Card
The OpenSky® Secured Visa® Credit Card is a secured credit card that is specifically designed for individuals with limited or no credit history. This card provides an opportunity to build or rebuild credit by making on-time payments and maintaining a good credit utilization ratio.
One of the key requirements for this card is a refundable security deposit of at least $200. By securing the card with a deposit, the issuer can offer credit to individuals who may not qualify for traditional credit cards due to their limited or no credit history.
With the OpenSky® Secured Visa® Credit Card, cardholders have the chance to demonstrate responsible credit behavior and establish a positive credit history which can be beneficial for future financial endeavors. However, it’s important to note that making on-time payments is crucial for building credit and avoiding any negative impact on credit scores.
Unlike many other credit cards, the OpenSky® Secured Visa® Credit Card does not require a credit check when applying. This means that individuals who may have had difficulty securing credit in the past due to a lack of credit history or poor credit scores can still have access to this card.
The OpenSky® Secured Visa® Credit Card comes with an annual fee of $35, ensuring affordable access to credit-building opportunities. This fee may be outweighed by the long-term benefits of establishing a positive credit history.
Benefits of the OpenSky® Secured Visa® Credit Card
Here are some key benefits of the OpenSky® Secured Visa® Credit Card:
- Access to credit without a credit check
- Opportunity to build or rebuild credit
- Requires a refundable security deposit
- Annual fee of $35
By responsibly using the OpenSky® Secured Visa® Credit Card, individuals with limited or no credit history can establish and strengthen their credit profiles, opening doors to better financial opportunities in the future.
| Card Details | |
|---|---|
| Card Name | OpenSky® Secured Visa® Credit Card |
| Credit Check | No |
| Security Deposit | $200 minimum |
| Annual Fee | $35 |
| Benefits | Build or rebuild credit |
First Progress Platinum Prestige Mastercard® Secured Credit Card
The First Progress Platinum Prestige Mastercard® Secured Credit Card is an excellent choice for individuals with limited or no credit history who are looking for a secured credit card. This card offers a range of benefits and features that can help individuals build their credit and establish a positive credit history.
To get started with the First Progress Platinum Prestige Mastercard® Secured Credit Card, applicants are required to provide a refundable security deposit. This deposit acts as collateral and determines the initial credit limit. The card has an annual fee of $49, which helps to cover the costs associated with maintaining and monitoring the account.
One of the key advantages of the First Progress Platinum Prestige Mastercard® Secured Credit Card is that it reports account information to all three major credit bureaus. This means that responsible credit card usage and on-time payments can help individuals build their credit history and improve their credit scores over time. By consistently demonstrating creditworthiness, individuals may become eligible for other credit options in the future.
Additionally, the First Progress Platinum Prestige Mastercard® Secured Credit Card offers high approval odds, making it an accessible option for individuals with limited credit or bad credit. This provides an opportunity for those who are just starting to build their credit or are in the process of rebuilding it to access credit and begin the journey towards financial stability and growth.
The First Progress Platinum Prestige Mastercard® Secured Credit Card offers individuals an opportunity to establish and improve their credit score, providing a solid foundation for future financial endeavors. With responsible credit card usage, individuals can build credit history, increase credit limits, and unlock a wider range of financial opportunities.
Whether you’re a new entrepreneur starting your own business or an individual looking to establish credit, the First Progress Platinum Prestige Mastercard® Secured Credit Card can be a valuable tool on your journey to financial success.
BILL Divvy Corporate Card
The BILL Divvy Corporate Card is a corporate card designed for businesses seeking a convenient financial solution without the need for a personal credit check. This card offers a seamless application process and comes with no annual fee, making it a cost-effective choice for companies of all sizes.
Also read : Maximize Savings with Staples Business Advantage
One of the key features of the BILL Divvy Corporate Card is its card-level spending controls. These controls allow businesses to set individual spending limits for each employee, ensuring greater control over expenses and reducing the risk of overspending.
With a rewards structure that offers 1x-7x points, the BILL Divvy Corporate Card allows businesses to earn points on every eligible purchase. This rewards program is especially advantageous for companies in the hospitality industry, as it offers higher earning rates for expenses at restaurants and hotels.
It is important to note that the balance on the BILL Divvy Corporate Card must be paid in full at the end of each billing cycle. This ensures that businesses maintain a healthy credit profile and avoid unnecessary interest charges.
Conclusion
Choosing the best startup business credit card with no credit is a crucial step for entrepreneurs looking to secure business finances and build credit. The options mentioned in this article offer a range of rewards, benefits, and features tailored to different startup needs. When making a decision, it is important to carefully consider factors such as annual fees, rewards rates, and credit limit requirements.
Startups and new businesses can leverage these credit cards to establish a credit profile and effectively manage their business expenses. By using these cards responsibly and making timely payments, entrepreneurs can not only build their credit history but also take advantage of benefits such as cash back rewards and travel perks.
Whether it’s the Ink Business Unlimited® Credit Card, Capital One Spark Miles for Business, Ink Business Preferred® Credit Card, Brex Card, or any other option, each brings its own unique advantages and benefits. By exploring these options, entrepreneurs can find the best startup business credit card that aligns with their needs and goals.
FAQ
Q: What are the best startup business credit cards with no credit?
A: Some of the best business credit cards for startups with no credit include Bank of America® Business Advantage, Chime Credit Builder Visa®, and Bento for Business Visa® Debit Card.
Q: Can I get a business credit card without a personal credit check?
A: Yes, some business credit cards with no personal credit check or personal guarantee are available, especially secured business credit cards.
Q: How can I build my business credit with a credit card?
A: You can build your business credit by using a business credit card responsibly, making on-time payments, and maintaining a low credit utilization ratio.
Q: What is a secured business credit card?
A: A secured business credit card requires a security deposit as collateral, and the credit limit is typically equal to the amount of the deposit.
Q: What is the difference between a personal credit card and a business credit card?
A: A personal credit card is linked to an individual’s personal credit score and requires a personal guarantee, while a business credit card is based on the credit score of the business and may not require a personal guarantee.
Q: Do business credit cards with no credit check require a personal credit check?
A: Some business credit cards with no credit check require a personal credit check or personal guarantee, while others, such as secured cards, may not require a personal credit check.
Q: Can a small business get a credit card without a personal credit check?
A: Small businesses can apply for secured business credit cards without a personal credit check, as these cards are secured by a cash deposit or collateral.
Q: Do business credit cards with no personal guarantee exist?
A: Yes, business credit cards with no personal guarantee do exist, especially secured business credit cards that are backed by a security deposit.
Q: Can a startup obtain a business credit card without a personal credit history?
A: Startups can apply for secured business credit cards without a personal credit history, as these cards are based on the business’s creditworthiness and may not require a personal credit check.
Q: What are the benefits of using a business credit card for startups with no credit?
A: Using a business credit card can help build the business’s credit history, separate personal and business expenses, and potentially earn rewards or cash back on business purchases.
