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Best Credit Cards For Business Owners & Entrepreneurs With No Credit History in 2021

    Jason Vissers
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Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
credit cards no credit

The primary way people can build up their credit scores and establish a healthy credit history is to make monthly credit card payments on time. Naturally, this begs the question: How do you build up your credit when you don’t have a credit card in the first place?

Thankfully, several credit cards on the market can help those with no credit history cover daily expenses while building their credit scores. The typical no-credit credit card requires a security deposit, after which you’ll be extended a credit line equal to that of your deposit. Unfortunately, unsecured no-credit credit cards are hard to come by for those with no credit, though they do exist, as you’ll see.

Let’s take a deep dive into the world of credit cards for those without credit.

Learn More About Our Top Picks

CompanyBest ForNext StepsBest For
Brex Card

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  • Annual Fee: None
  • Rewards: Up to 8 points per $1 spent
  • Required Credit: No required credit
  • Annual Fee: None
  • Rewards: Up to 8 points per $1 spent
  • Required Credit: No required credit

Apply Now

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OpenSky Secured Visa Card

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  • Annual Fee: $35
  • Rewards: None
  • Required Credit: No required credit
  • Annual Fee: $35
  • Rewards: None
  • Required Credit: No required credit

Visit Site

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Discover it Secured

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  • Annual Fee: $0
  • Rewards: 2% cash back at gas stations & restaurants
  • Required Credit: No credit score requirement
  • Annual Fee: $0
  • Rewards: 2% cash back at gas stations & restaurants
  • Required Credit: No credit score requirement

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BBVA Secured Visa Card

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  • Annual Fee: $0 the first year ($40 each subsequent year)
  • Rewards: 3x points at office supply stores & 2x points at gas stations & restaurants
  • Required Credit: No required credit
  • Annual Fee: $0 the first year ($40 each subsequent year)
  • Rewards: 3x points at office supply stores & 2x points at gas stations & restaurants
  • Required Credit: No required credit

Visit Site

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Spark Classic from Capital One

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  • Annual Fee: $0
  • Rewards: 1% cash back on all purchases
  • Required Credit: Average credit (you may be able to qualify with no credit history)
  • Annual Fee: $0
  • Rewards: 1% cash back on all purchases
  • Required Credit: Average credit (you may be able to qualify with no credit history)

Visit Site

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Other Featured Options:

Read more below to learn why we chose these options.

1. Brex Card: Best For Startups

Brex Card



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Brex Card



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Annual Fee:


$0

 

Purchase APR:


N/A (this is a charge card)

Fintech outfit Brex has set out to disrupt the traditional credit card underwriting model with its startup-friendly unsecured business credit card. To qualify for the Brex Card, you do not need any credit history whatsoever, as Brex does not check your credit score. Instead, the company takes into account factors, such as your cash balance, your spending patterns, and your investors. As such, while the card requires no credit history, it is oriented toward the needs of startups (especially tech startups) with high growth potential. Mom-and-pop retail shops are not the target audience here.

Another great feature for startups: The Brex Card does not require a personal guarantee, so you won’t be held personally liable for any business debt. Combine this with a potentially lucrative rewards scheme shaped around common startup expenses, and you have a very attractive startup business credit card indeed. Just remember that the Brex Card is a charge card, so you can’t carry a balance from month to month.

Pros

  • No credit check
  • No personal guarantee
  • 8X points on rideshare purchases when you make automatic daily payments

Cons

  • Only for businesses with high growth potential and lots of cash in the bank

Get Started with Brex Card

Read our in-depth review

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2. OpenSky Secured Visa Credit Card: Best For No Credit Check

OpenSky Secured Visa Card



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Annual Fee:


 

Purchase APR:


When you apply for the OpenSky Secured Visa, you do not undergo a credit check, making this card ideal for businesses with no credit history. As this is a secured card, you’ll have to make a security deposit of at least $200 ($3,000 maximum) to establish your credit line.

Though there are no rewards to earn and no bonus offers, the card does help you establish a credit history by reporting your spending to the big three credit bureaus. Unfortunately, the card sports a $35 annual fee and a 3% foreign transaction fee, and you can’t upgrade to an unsecured credit card. However, the card’s APR comes in under 20%, which beats the APRs of many credit cards pitched to people with no credit or poor credit.

Pros

  • No credit check
  • Reports to the big three credit bureaus
  • It doesn’t require a bank account

Cons

  • $35 annual fee
  • A security deposit of at least $200 is required

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3. Discover it Secured: Best Secured Credit Builder Card

Discover it Secured



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Discover it Secured



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Annual Fee:


$0

 

Purchase APR:


24.49% (variable)

The Discover it Secured card is a traditional credit-building card in that it requires a security deposit. Your deposit, which must be between $200 and $2500, will become your credit limit. And like most cards operating in this space, the card reports to the three major credit bureaus.

The Discover it Secured card offers an impressive level of rewards for a card of this type. You’ll earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter and 1% cash back on all other purchases. What’s more, at the end of your first year, Discover will match all the cash back you’ve earned by that point. The card also carries no annual fee, and after eight months, you may be able to upgrade to an unsecured card.

Pros

  • No annual fee
  • Good cash back program for a card of this type
  • Reports to the big three credit bureaus

Cons

  • A security deposit of at least $200 is required

Read our in-depth review

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4. BBVA Secured Visa Business Credit Card: Best For Business Card Perks

BBVA Secured Visa Card



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Annual Fee:


 

Purchase APR:


One of the few secured business credit cards currently being offered, the BBVA Secured Visa Business Credit Card is a good card to use if you want traditional business card perks (such as free employee cards) in a secured card with no credit score requirements. However, the card carries significant drawbacks as well.

For one thing, you’ll need an account with a BBVA bank to get the card, and you’ll need to make at least a $500 deposit into your savings account to secure the card. For another thing, you can’t apply for the card online — you must do so in person at a BBVA location. Finally, BBVA branches exist only in Alabama, Florida, Texas, Arizona, Colorado, California, and New Mexico. If you don’t live in one of these states, you can’t get the card. But if you do, and you don’t mind the high deposit requirement, you may want to consider the BBVA Secured Visa business card.

Pros

  • No annual fee the first year ($40/year thereafter)
  • Free employee cards
  • Earn 3x points at office supply stores

Cons

  • Only available in Alabama, Florida, Texas, Arizona, Colorado, California, and New Mexico
  • Must apply in person at a BBVA location
  • A high deposit (at least $500) is required

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5. Spark Classic from Capital One: Best For Instant Approval

Spark Classic from Capital One



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Spark Classic from Capital One



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Annual Fee:


$0

 

Purchase APR:


24.49% (variable)

The Spark Classic from Capital One is a business credit card for rebuilding credit. As such, the card comes with business perks, such as free cards for your employees and instant approval. This card also helps you build your business credit score (the card reports to the business credit bureaus, not the personal ones). However, while you may be able to get approved for the card with no credit history, you’ll have a better chance of approval if you have at least some credit history. Additionally, this care is unsecured — no deposit required.

One of the few no-fee cards available for business owners that require only average personal credit, the card offers a modest cash back rate of 1% for all your purchases. It also features no annual fee and no foreign transaction fee. The card’s high APR (currently 26.99% variable) means that you should try to avoid carrying a significant balance from month to month.

Pros

  • No annual fee or foreign transaction fee
  • Cash back offered
  • Reports to the business credit bureaus

Cons

  • May not be able to get the card with no credit
  • High APR

Read our in-depth review

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6. Secured Mastercard from Capital One: Best For No Annual Fees

Secured Mastercard® from Capital One®



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Secured Mastercard® from Capital One®



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Annual Fee:


$0

 

Purchase APR:


26.74% (variable)

The Secured Mastercard from Capital One offers an unusual benefit for a secured credit card: You may be able to get a credit limit higher than the amount of your security deposit. If you’re approved, you’ll get an initial $200 credit limit, but your required security deposit will be either $49, $99, or $200, depending on Capital One’s assessment of your creditworthiness. You can also get access to a higher credit line after making your first five monthly payments on time.

While the card has no annual fee and no foreign transaction fee, you won’t earn any rewards for your spending. The card’s APR (currently at 24.99% variable) is also rather high, so you won’t want to carry a monthly balance if you can avoid it.

Pros

  • No annual fee or foreign transaction fees
  • You may get a credit limit higher than your deposit amount (though this is less likely if you have no credit history)

Cons

  • No rewards for your spending
  • High APR

Read our in-depth review

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7. Credit One Bank Platinum Visa for Rebuilding Credit: Best For No Deposit

Credit One Platinum Visa For Rebuilding Credit



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Credit One Platinum Visa For Rebuilding Credit



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Annual Fee:


$0 - $95 for the first yea; $0 to $99 thereafter

 

Purchase APR:


19.49% - 25.49% (variable)

The Credit One Bank Platinum Visa for Rebuilding Credit (note that the issuer is Credit One, not Capital One) is a credit option for borrowers with bad/limited credit who can’t or won’t pay a security deposit. However, you might not want to make this card your first choice due to the fees involved.

If you are approved to get this card, you’ll have to pay a $75 annual fee immediately, thus reducing your credit line from $300 to $225 right off the bat. Unfortunately, after the first year, your annual fee rises to $99/year. The company also reserves the right to divide your annual fee by 12 and charge you monthly.

The card also offers 1% cash back on eligible gas and groceries plus mobile phone, internet, cable, and satellite TV services.

Pros

  • No security deposit required
  • Reports to the big three credit bureaus
  • 1% cash back on select spending categories

Cons

  • $75 fee charged immediately, $99 annual fee thereafter
  • Your initial credit line is just $300 ($225 after subtracting your initial $75 fee)

Read our in-depth review

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8. Citi Secured Mastercard: Best For Upgrading To An Unsecured Card Later

Citi Secured Mastercard



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Annual Fee:


 

Purchase APR:


The Citi Secured Mastercard is another secured credit card — one meant for people with no credit or limited credit history. The card requires a security deposit of between $200-$2,500, which will be the basis for your credit limit. Citi will report your credit activity to the major consumer credit bureaus.

There’s no annual fee, but the APR (currently 22.49% variable) is relatively high, and there are no rewards to accumulate or bonus offers to earn.

Pros

  • No annual fee
  • Reports to the big three credit bureaus

Cons

  • No spending rewards
  • Fairly high APR

Jump back to comparison chart

How To Get A Credit Card With No Credit History

Let’s discuss what you’ll need to do to get a credit card and start establishing some credit history.

Know What You’ll Need To Provide When You Apply

Many entrepreneurs and startup owners may be seeking a credit card for the very first time. If this is you, here’s what you’ll need to provide when you apply for a credit card:

  • Your legal name
  • Your birth date
  • Your address
  • Your Social Security number (your Individual Taxpayer Identification Number (ITIN) or Employer Identification Number (EIN) may suffice if you don’t have a Social Security number
  • Your annual income

Find A Co-Signer

If you have no credit history whatsoever, you’ll find it easier to get a credit card if you can find someone with a solid credit history — perhaps a parent or guardian — to co-sign your credit card application.

However, this comes with major drawbacks: Your co-signer will have access to your finances and spending decisions, and if you don’t use your credit card wisely, it’s not just your credit score on the line. Miss a payment, and your co-signer’s credit will be negatively impacted as well.

Seek A Secured Credit Card

Though you can find credit cards for people with no/bad credit that do not require a security deposit, these cards are few and far between. Your best bet for being approved is to apply for a secured credit card.

Because these credit cards are secured by your initial deposit, the bank does not take on any risk by approving you for one of these credit cards. Additionally, many issuers of secured credit cards will let you upgrade to an unsecured credit card after you’ve used your card responsibly over a certain period of time.

See If You Pre-Qualify For A Credit Card

Several of the big credit card issuers have pre-qualification tools on their websites that can tell you which of their credit cards you may qualify for based on the personal information you enter. Using these pre-qualification tools will not affect your credit score.

Unfortunately, pre-qualifying for a credit card doesn’t guarantee that you’ll be approved. It’s also possible that applying for the credit cards you pre-qualify for will negatively impact your credit, so be selective when determining which credit cards to apply for.

No Credit History Credit Cards: FAQs

Can I get a business credit card with no credit?

Yes, it is possible to get a business credit card with no credit. Two such business credit cards are the Brex Card and the BBVA Secured Visa Business Credit Card. However, the BBVA card is only available in Alabama, Florida, Texas, Arizona, Colorado, California, and New Mexico. Additionally, there are many different no-credit personal credit cards you can get if you’re willing to use a personal credit card for business use.

Do issuers check personal credit to get a business credit card?

Business credit card issuers will often run a check on your personal credit score as well as your business credit score when you apply. However, not all business credit card issuers will do this. For example, Brex does not check your personal credit when you apply.

Can I use my EIN instead of my SSN to apply for a credit card?

Though you can use your EIN to apply for most business credit cards, you’ll still have to provide your SSN as well with most card issuers. One exception is the Brex Card, which requires you to submit your EIN but not your SSN.

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

If you live in Alabama, Florida, Texas, Arizona, Colorado, California, or New Mexico, the BBVA Secured Visa Business Credit Card is the easiest business credit card to get approved for. For everyone else, the Capital One Spark Classic card is relatively easy to qualify for, though you will likely need at least fair or average credit to get approved.

A Summary Of Your Best Options

  1. Brex Card:
    • Annual Fee: None
    • Rewards: Up to 8 points per $1 spent
    • Required Credit: No required credit
  2. OpenSky Secured Visa Card:
    • Annual Fee: $35
    • Rewards: None
    • Required Credit: No required credit
  3. Discover it Secured:
    • Annual Fee: $0
    • Rewards: 2% cash back at gas stations & restaurants
    • Required Credit: No credit score requirement
  4. BBVA Secured Visa Card:
    • Annual Fee: $0 the first year ($40 each subsequent year)
    • Rewards: 3x points at office supply stores & 2x points at gas stations & restaurants
    • Required Credit: No required credit
  5. Spark Classic from Capital One:
    • Annual Fee: $0
    • Rewards: 1% cash back on all purchases
    • Required Credit: Average credit (you may be able to qualify with no credit history)
  6. Secured Mastercard® from Capital One®:
    • Annual Fee: $0
    • Rewards: None
    • Required Credit: No required credit
  7. Credit One Platinum Visa For Rebuilding Credit:
    • Annual Fee: $75 due immediately, $99 annual fee thereafter
    • Rewards: 1% cash back on gas, groceries, mobile phone, internet, cable, and satellite TV services
    • Required Credit: No required credit
  8. Citi Secured Mastercard:
    • Annual Fee: $0
    • Rewards: None
    • Required Credit: No required credit
Jason Vissers

Jason Vissers

Expert Analyst & Reviewer at Merchant Maverick
Jason Vissers has been researching, analyzing, and writing about small business software and finance since 2015. His financial expertise has been cited in numerous publications, including The Ladders. Jason graduated with a Political Science degree from San Diego State University in 2001.
Jason Vissers
View Jason Vissers's professional experience on LinkedIn.
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Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.

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