Best Pick For...
- Up to 10 cards for you & employees
- Your choice of a cash back rewards program or a point rewards program
- More Bonus Points: When you shop online or in person at the Earn More Mall.
- Card Design Studio: Design your own card.
- No annual fee
Secured business cards are rare; Wells Fargo might be the only big name you recognize here, offering up the Wells Fargo® Business Secured Credit Card.
It’s a pretty good offer, all around:
- You can choose a flat-rate rewards program that works for your business.
- The maximum credit line is quite high.
- You may be upgraded to an unsecured card, if you show responsible credit behavior.
- There are no annual or foreign transaction fees.
You have to provide a security deposit to fund the credit limit — $500 to $25,000 — and your credit limit will be based on your deposit.
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- Earn More Mall: Earn extra points and find discounts at select merchants (point rewards only).
- Zero Fraud Liability: You’re covered against fraud and unauthorized activity
- No foreign transaction fee
- Annual fee: $0
- Security deposit: $500–$25,000
- Earn 3X points per dollar at office supply stores
- Earn 2X points per dollar at gas stations and restaurants
- Earn 1X point per dollar spent on all other eligible purchases
- Must have a Secured Credit Card Savings account and deposit a minimum of $500
- Free employee cards
- Annual fee waived for the first year, then $40 annually
First off, a big limitation: The BBVA Compass Business Secured Visa Credit Card is only available in Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas.
If you’re eligible, you’ll also have to work with a credit limit that’s smaller than your security deposit. This card requires a minimum deposit of $500 in a savings account, and your available credit will be 90% of your deposit. So if you deposit $5,000, you’ll get a $4,500 credit limit.
But if you can manage that, and the low annual fee after the first year, you’ll get access to a decent reward program.
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- Visa Savings Edge: Get discounts at qualifying merchants.
- Shopping and travel protections: Purchase Security, Extended Warranty Protection, Auto Rental Collision Damage Waiver, Travel Accident Insurance, Travel and Emergency Assistance
- Zero Fraud Liability: You won’t be held responsible for unauthorized purchases; contact the issuer immediately if you suspect fraud.
- Free employee cards
- Annual fee: $40, $0 first year
- Security deposit: $500 minimum (credit limit is 90% of security deposit)
- Request your own credit line between $2,000 and $100,000 (subject to credit approval)
- Provide a security deposit of 110% of your requested limit
- Visa SavingsEdge® gives you automatic rebates for purchases at qualified merchants
- Earn interest on your security deposit
- $39 annual fee
Need a lot of spending power? The Business Edition® Secured Visa® Card gives you a potential credit line up to $100,000, although you’ll need to offer up a security deposit of 110% of the credit line you want.
So, if you want that full $100,000 credit line, for example, you’ll need to deposit $110,000. A deposit of $10,000 will give you a limit of $9,090. But, the maximum amount you can deposit is subject to credit approval, so you may not be able to deposit as much as you want.
Unlike most secured cards, however, your security deposit will actually earn interest. It probably won’t be much, but if you make a big deposit it could be a nice treat whenever you close the card and get your deposit back.
There’s not much else to the Business Edition Secured Visa, other than some business and protection benefits. But you can use it to build up your credit scores, and eventually you’ll qualify for more rewarding business credit cards.
- Cell Phone Protection: Pay your cell phone bill with the card to receive coverage against damage and theft, with a $50 deductible.
- Visa Savings Edge: Get discounts at qualifying merchants.
- Business management features: Management reports to track expenses, monitor spending, and prepare tax filings
- Annual fee: $39
- Security deposit: $2,200–$110,000, subject to credit approval (security deposit is 110% of credit line)
What’s the Best Secured Business Credit Card?
There currently aren’t many major issuers that offer secured business cards, but our favorites are:
- Wells Fargo® Business Secured Credit Card
- BBVA Compass Business Secured Visa Credit Card
- Business Edition® Secured Visa® Card
What Banks Offer Secured Business Credit Cards?
There aren’t many secured business cards out there. Our top card picks come from:
- Wells Fargo
- BBVA USA
- First National Bank of Omaha
But, you can also use personal secured credit cards for business expenses, if necessary. See the best secured credit cards right here.
Is a Secured Business Credit Card Right for You?
Many business credit cards require a personal guarantee or personal credit check. This may happen even when you use your company’s EIN on the application instead of your Social Security number. Your business has to build its own credit, separate from your personal credit, to be able to get a credit card on its own.
If you have fair or bad personal credit, you may not be able to get approved for an unsecured business credit card. With poor credit, a secured business credit card might be your only option (check out our top business credit cards for bad credit).
Banks design business credit cards to provide business owners with a credit line. A secured card requires a security deposit when you’re approved. Usually, the credit limit is equal to the amount of the deposit. This deposit reduces a financial institution’s risk when lending to people with limited or bad credit history.
Secured cards don’t usually come with the best rates and rewards, but provide a starting point for getting an unsecured credit card.
As long as you use the card responsibly you should be able to qualify for unsecured business cards with better rewards and perks in the future. Some banks will convert your account to an unsecured card once you’ve developed a record of responsible use, which typically includes consistent on-time payments and properly managed balance. Depending on whether you’ve built credit for your business, you may even be able to get a card without a personal guarantee. Many unsecured business credit cards earn rewards points, miles, or cash back for business spending. You can multiply these business rewards by adding employee cards.
Insider tip
Confused about how business cards work? Take a few minutes to learn more about how business credit cards differ from regular cards.
Do Secured Business Cards Build Business Credit?
The way business credit cards report to the major credit bureaus can be tricky. Reporting varies depending on the issuer, and building business credit is a bit different than building personal credit.
To see a complete listing, take a look at our table showing how issuers report business card activity to the credit bureaus, including business credit bureaus.
For example, Chase business cards report positive activity to several business credit bureaus, including Dun & Bradstreet and Equifax Business, but not the regular consumer credit bureaus. But negative activity will be reported to the consumer credit bureaus as well.
Personal credit reports are different from business credit reports. If you have a business card, your business may have a credit report at one or more business credit bureaus. But not all business credit cards report to business credit bureaus.
To find out if a business credit card reports to business credit bureaus, see our table (linked above) or ask the issuer before you apply.
Many business credit cards only report negative items on your personal credit reports. Regular account activity may not show up on your personal credit reports. In those cases, the card will not help you build personal credit. If you miss a payment on your business card, though, that negative item will likely show up on your personal credit reports.
Insider tip
Building your business credit scores is a different process than building personal credit. It’s not as simple or straightforward. Learn more about building credit for your business with this guide.
