3 Best Secured Business Credit Cards of 2022

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You don’t need great credit to get these business credit cards―but they can help you improve your credit profile.

Business.org’s pick
Wells Fargo Business Secured Credit Card
2.7 out of 5 stars
2.7
$0.00 annual fee for first year ($0.00 after)
  • Icon Pros  Dark
    Available in 36 states
  • Icon Pros  Dark
    Low purchase APR
  • Icon Pros  Dark
    Secured with collateral
Business.org’s pick
Business Edition® Secured® Visa Card
1.9 out of 5 stars
1.9
$39.00 annual fee for first year ($39.00 after)
  • Icon Pros  Dark
    Available in 7 states
  • Icon Pros  Dark
    High maximum credit limit
  • Icon Pros  Dark
    Secured with collateral
Business.org’s pick
Spark 1% Classic
2.3 out of 5 stars
2.3
$0.00 annual fee for first year ($0.00 after)
  • Icon Pros  Dark
    Available in all states
  • Icon Pros  Dark
    No collateral requirement
  • Icon Pros  Dark
    Unsecured
Business.org’s pick
Bank of America® Customized Cash Rewards Secured Credit Card
2.8 out of 5 stars
2.8
$0.00 annual fee for first year ($0.00 after)
  • Icon Pros  Dark
    Available in all states
  • Icon Pros  Dark
    Personal credit card
  • Icon Pros  Dark
    Secured with collateral
Business.org’s pick
Discover It® Secured Credit Card
2.6 out of 5 stars
2.6
$0.00 annual fee for first year ($0.00 after)
  • Icon Pros  Dark
    Available in all states
  • Icon Pros  Dark
    Personal credit card
  • Icon Pros  Dark
    Secured with collateral

Data as of 1/10/22. Offers and availability may vary by location and are subject to change.
Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities

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To get your typical unsecured business credit card, you need to have a solid business credit history. But what if your business hasn’t built a long credit history yet, or if it has a spotty credit report?

That’s where secured business credit cards come in handy. They work like unsecured cards, with a credit limit you can borrow against and the ability to improve your credit score. But since they require collateral, secured credit cards are easier to qualify for.

There aren’t too many secured business cards out there, but we’ve rounded up the best ones to help you find the best card for your business. The Wells Fargo Business Secured Credit Card offers the best balance of APR and rewards for most businesses, but let’s look at all your options.

Compare the best secured business credit cards

Credit card
First-year/ongoing annual fee
Purchase APR
Collateral type
Get a card
$0.00/$0.00Prime + 11.9%Collateral account
$39.00/$39.0020.24%Security deposit
$0.00/$0.0026.99%N/A

Data as of 1/10/22. Offers and availability may vary by location and are subject to change.

Getting a secured business credit card

Applying for a secured business credit card works a lot like applying for an unsecured business credit card. Either way, you’ll submit an application to your card issuer of choice. Your application will include information about yourself and your business, and the credit card company will probably run a credit check before approving you.

The biggest difference? Collateral. Before you can use your secured credit card, you’ll have to offer up collateral in the form of a cash deposit (usually into a specific bank account).

In most cases, your credit limit will be directly tied to how much money you deposit as collateral. For example, your credit limit might be 90% of your collateral deposit. As you can see, that means that secured credit cards don’t work so well for big cash advances or extra working capital. Because really, you’re only borrowing money you already had on hand.

Instead, secured credit cards are designed to help you build credit by developing a good credit history―even if you’re starting with bad credit or no credit. Your credit card activity will get reported to credit bureaus, which then affects your credit score and overall credit profile.

So as you use your card for business expenses and then repay your balance on time, you’ll start to see improved business credit. Before you know it, you’ll be able to qualify for the best business credit cards―which will be unsecured business credit cards that don’t require collateral.

Wells Fargo Business Secured Credit Card: Best overall unsecured business credit card

Wells Fargo
Wells Fargo Business Secured Credit Card
2.7 out of 5 stars
2.7
$0.00 annual fee
  • Check
    No annual fee ever
  • Check
    Mastercard card
  • Check
    1.5% cash back or 1x points
  • Check
    $25,000 maximum credit limit

Data as of 1/10/22. Offers and availability may vary by location and are subject to change.

Most businesses that need a secured business credit card will do best with the Wells Fargo Business Secured Credit Card.

To be totally honest, that’s largely because this secured Mastercard is available all across the nation―or at least in the 36 states that offer Wells Fargo business banking. (For comparison, the other secured cards on this list are available in just seven states each.) That means that, based on geography alone, the Wells Fargo Business Secured Credit Card will work best for most businesses.

But it’s not just availability that makes this a good secured credit card. Wells Fargo doesn’t charge any annual fee on its secured card, it gives you 10 free employee cards, and it has the lowest APR (annual percentage rate) of the credit cards on this list. In other words, it’s an affordable credit card option.

And as an added bonus, your Wells Fargo Business Secured Credit Card will reward you for your usage―and not just by improving your business credit. You can choose from cash back rewards (a decent 1.5%) or reward points (an acceptable 1 point for $1). Either way, it’s a flat rate, so don’t expect to reap the huge rewards you might get from a better unsecured credit card. But hey, some rewards are better than none.

The biggest downside? The credit limit for the Wells Fargo Business Secured Credit Card maxes out at $25,000. That may feel a little low for some businesses.

Overall, though, the Wells Fargo Business Secured Credit Card has plenty of pros―from availability to affordability to rewards―that make it our favorite secured business credit card.

Pros
Pro Bullet Low purchase APR
Pro Bullet Cash back or points reward options
Pro Bullet Extensive app market
Cons
Con Bullet Low maximum credit limit
Con Bullet Temporary unavailability

Business Edition® Secured® Visa Card: Highest credit limit

Business Edition® Secured® Visa Card
Business Edition® Secured® Visa Card
1.9 out of 5 stars
1.9
$39.00 annual fee
  • Check
    Annual fee cannot be waived
  • Check
    Visa card
  • X
    No reward program
  • Check
    $100,000 maximum credit limit

Data as of 1/10/22. Offers and availability may vary by location and are subject to change.

Need a higher credit limit to cover all the business expenses you plan to pay with your secured business card? The Business Edition® Secured® Visa Card has the highest credit limit you can get.

As we noted above, your credit limit on any secured card will be proportional to how much collateral you deposit. But the Business Edition® Secured® Visa Card lets you deposit more than other secured cards. In fact, you can give yourself a credit limit of up to $100,000―four times the credit limit on Wells Fargo’s secured card―so long as you have the cash. And as an added perk, you’ll even earn interest on your security deposit.   

As with the BBVA secured card, though, the Business Edition® Secured® Visa Card has super limited availability. The card issuer, First National Bank of Omaha, operates in just seven states (Colorado, Illinois, Iowa, Kansas, Nebraska, South Dakota, and Texas). Another bummer? This card has an unwaivable annual fee and no rewards program (unless you count the interest on your deposit).

So the Business Edition® Secured® Visa Card isn’t for everyone. But if you want a higher credit line and you’ve got the cash to get it, the Business Edition® Secured® Visa Card may still be a good option.

Strengths
Pro Bullet Very high maximum credit limit
Pro Bullet Interest accrual on security deposit
Weaknesses
Con Bullet Unwaivable annual fee
Con Bullet No credit card rewards
Con Bullet Availability in just 7 states

Spark 1% Classic: Best unsecured alternative

Capital One
Spark Classic from Capital One
2.3 out of 5 stars
2.3
$0.00 annual fee
  • Check
    No annual fee ever
  • Check
    Capital One card
  • Check
    1% cash back
  • Check
    $50,000 maximum credit limit

Data as of 1/10/22. Offers and availability may vary by location and are subject to change.

Okay, so the Spark 1% Classic card from Capital One isn’t actually a secured credit card. But this unsecured card has much lower credit requirements than other unsecured business cards do, so it’s easier to qualify for. And, of course, as you use it wisely, you’ll build business credit. That makes the Spark 1% Classic a good alternative to secured credit cards if you don’t want to put up cash as collateral.

The Spark 1% Classic doesn’t have an annual fee, but it does have the highest APR of any card on this list. So if you repay your card balance in full each cycle, this card shouldn’t cost you anything. But if you don’t? Watch out for that high interest rate.

As for rewards, the Spark 1% Classic earns cash back at a flat rate of 1%. That’s nothing to write home about (the Wells Fargo secured card earns more), but it does allow you to get something back for your spending. 

Put simply, the Spark 1% Classic may not be the best unsecured business card out there―but if you’re looking for an accessible alternative to secured cards, it still offers a decent option.

Strengths
Pro Bullet No collateral required
Pro Bullet Moderate credit requirements
Pro Bullet No annual fee
Weaknesses
Con Bullet High purchase APR
Con Bullet Low maximum cash back amount

Honorable mentions

If you don’t mind going with a personal credit card, we’ve got a couple honorable mentions worth looking at.

Compare best personal credit card alternatives

Credit card
First-year/ongoing annual fee
Purchase APR
Collateral type
Get a card
$0.00/$0.0023.99%Security deposit
$0.00/$0.0022.99%Security deposit

Data as of 1/10/22. Offers and availability may vary by location and are subject to change.

Bank of America® Customized Cash Rewards Secured Credit Card: Best secured personal credit card

Bank of America
Bank of America® Customized Cash Rewards Secured Credit Card
$0.00 annual fee
  • Check
    No annual fee ever
  • Check
    Visa card
  • Check
    1–3% cash back
  • Check
    $4,900 maximum credit limit

Data as of 1/10/22. Offers and availability may vary by location and are subject to change.

If your business can get by with a secured personal credit card, the Bank of America® Customized Cash Rewards Secured Credit Card is your best bet.

It has a pretty robust rewards program for a secured card, with up to 3% cash back in some categories and 1% cash back on everything.

Unfortunately, the maximum credit limit on a Bank of America® Customized Cash Rewards Secured Credit Card is just under $5,000―way, way lower than you’d get with a business credit card.

So while we can’t widely recommend the Bank of America® Customized Cash Rewards Secured Credit Card as a secured card for business owners, it might work if you can’t get a business card yet.

Discover It® Secured Credit Card: Best for cash back matching

Discover It® Secured Credit Card
Discover It® Secured Credit Card
$0.00 annual fee
  • Check
    No annual fee ever
  • Check
    Discover card
  • Check
    1–2% cash back
  • Check
    $2,500 maximum credit limit

Data as of 1/10/22. Offers and availability may vary by location and are subject to change.

The Discover it® Secured Credit Card offers another personal credit card option.

This card earns cash back, with at least 1% rewards on all your purchases and 2% on gas and restaurant purchases (up to $1,000 per quarter). Plus, Discover will regularly review your account to see if you qualify for a higher credit limit.

Even if you do, though, you’ll max out at $2,500―lower than even the Bank of America® Customized Cash Rewards Secured Credit Card.

That means that the Discover it® Secured Credit Card should only be a stepping stone toward better credit (and a better secured card) for your business.

The takeaway

While businesses with poor credit or no credit history may struggle to get approved for secured business cards, unsecured credit cards provide a more accessible alternative. Thanks to a cash deposit that serves as collateral, unsecured cards make it easier to get approved for credit and start improving your credit score.

For most businesses, the Wells Fargo Business Secured Credit Card offers the best secured card option, due to its widespread availability, low fees, and decent reward program.

Businesses that prefer points rewards may get more value from the BBVA Secured Visa Business Credit Card, while businesses that need a higher credit limit will prefer the Business Edition® Secured® Visa Card. And if you’re open to an unsecured credit option, Spark 1% Classic from Capital One offers many of the same benefits as a secured card.

Regardless of which unsecured small-business credit card you go with, responsible credit card usage should help you improve your credit score. So whether you’re starting off with poor credit or no credit, we hope you enjoy the benefits of an improved credit profile.

Getting your first business credit card? Learn more about how to apply for a business credit card.

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Secured business credit card FAQ

What is the best secured business credit card for building credit fast?

For building business credit, we recommend Wells Fargo Business Secured Credit Card.

Wells Fargo reports business credit card usage to the Small Business Financial Exchange, which means your credit card activity should show up on your business credit report. And as long as you use it responsibly, that in turn should boost your business credit score.

What is the best credit card for small-business owners?

For most business owners, we think that Chase’s Ink Business Cash Credit Card is the best credit card. It has great cash back rewards, no annual fee, and plenty of other perks. For more information, you can see our rankings of the best small-business credit cards.

What is the easiest business credit card to get approved for?

Any secured business credit card, like the Wells Fargo Business Secured Credit Card, should be relatively easy to get. Because these cards get secured with collateral (cash in a bank account), they don’t have the high credit requirements that unsecured credit cards do.

Methodology

After researching more than 30 business credit cards, we found two unsecured cards and one secured card that have low credit requirements and the ability to build credit. We compared availability, rewards, fees, and APR to determine our scoring and rankings for these cards. Due to the limited number of secured business cards, we also analyzed and included a couple personal credit card options.

Disclaimer

At Business.org, our research is meant to offer general product and service recommendations. We don't guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services.

Business.org has partnered with CardRatings for our coverage of credit card products. Business.org and CardRatings may receive a commission from card issuers.

Chloe Goodshore
Written by
Chloe Goodshore
Chloe covers business financing and loans for Business.org. She has worked with many small businesses over the past 10 years, from video game stores to law firms. Those years watching frustrated business owners try to sift through their many options gave her a passion for breaking down complex business topics. She wants to help business owners spend less time agonizing over their businesses so they can spend more time running them.
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