Best Small Business Credit Cards for Fair Credit

Less-than-perfect credit may not stop you from getting a great product. There are business credit cards for fair credit available to many small businesses even if you have a blemish or two on your personal credit score.

If you have fair credit, then you may have a tough time getting approved for many business credit cards. Fortunately, some commercial lenders have business credit card products tailored specifically to business owners who are working on building or rebuilding their personal and business credit histories. Here are our top choices for small business credit cards for fair credit.

What Does “Fair” Credit Mean?

Fair credit is defined as having a personal FICO score in the fair range—between 580 and 669. This is different from your business credit scores. This likely means that you have some established credit history, but that you’ve had some problem with making payments on-time, or that you have a large amount of debt. Alternatively, you could have fair credit just because you have a limited credit history.

The Best Small Business Credit Cards for Fair Credit

1. Divvy Credit Builder for Business

The Divvy Credit Builder for Business program allows you to build business credit regardless of your personal credit history and credit score. So you can qualify with fair credit or no credit at all. 

With this program, you pre-fund your account and are then able to use the card to spend up to that amount. And with each purchase and payment, you’re building business credit, as your payments are reported to the Dun & Bradstreet and SBFE business credit bureaus. 

There’s $0 annual fee for this card. All charges made on this charge card are due and payable when you receive your periodic statement.

Divvy Credit Builder for Business

Introducing Divvy Credit Builder—a program designed to give every small business the tools they Learn More

2. Capital One® Spark® Classic for Business

The Capital One® Spark® Classic for Business is an excellent option for business owners who are looking to improve their personal credit. Unlike most business credit card issuers, Capital One reports your card activity to both the commercial and personal credit bureaus. 

This is a good thing because if the credit card company reports your good credit behavior to the business credit bureaus, it will help you build a strong business credit profile. Of course, this also means that if you rack up a high balance or your business can’t make the payments, it could negatively affect your business credit profile and will likely hurt your personal credit score too. 

The card offers unlimited 1% cash back on every purchase you make and doesn’t charge an annual fee. It also doesn’t have any foreign transaction fees, making it a worthy option for business owners who regularly travel abroad. Other features include:

  • Free employee cards
  • Transaction downloads to Quicken, Quickbooks, or Excel
  • Rental car insurance
  • Purchase and extended warranty protection
  • Travel and emergency assistance

If you’re looking to make a big purchase or your cash flow is irregular, an introductory 0% APR promotion can help you get the funds you need and give you time to pay them back interest-free.

*All information about the Capital One® Spark® Classic for Business credit card has been collected independently by Nav. This card is not currently available through Nav. To see what business credit cards are available, please visit the Nav Credit Card Marketplace.

3. Brex Credit Card

The Brex card is available for all types of credit because the card issuer doesn’t run a credit check at all. What’s more, you don’t need to provide a personal guarantee on the account, which is a common requirement for other business credit cards. The card also has no annual or foreign transaction fees.

If you’re not part of the Brex Exclusive program, you’ll only earn 1 point per dollar on everything. That said, you’ll still get access to discounts and credits on various services, including Amazon Web Services, Google Ads, WeWork, and more.

The Brex Card is a charge card, which means you’ll need to pay your balance in full each month. And while there’s no annual fee, you will pay a fee of $5 per card after your first five cards. 

Not just anyone can get the card, though. To qualify, you typically need to have $100,000 in a corporate bank account and be backed by a venture capital firm at the time of your application. Brex also requires that you have at least $50,000 in a corporate bank account at all times.

*All information about the Brex Credit Card credit card has been collected independently by Nav. This card is not currently available through Nav. To see what business credit cards are available, please visit the Nav Credit Card Marketplace.

4. Wells Fargo Business Secured Credit Card

The Wells Fargo Business Secured card is offered by one of the nation’s largest banks, and is one of the only business secured cards that is also a rewards card. To open an account, you must first submit a refundable security deposit of between $500 and $25,000, and the amount of your deposit becomes your credit limit after account opening. After that, this card works just like any other standard, unsecured card, and is great for building credit. And retailers won’t even know that you’re using a secured card. After your first year of avoiding late payments, many secured cardholders find that they can qualify  for an unsecured card.

In fact, it also features a competitive rewards program, with your choice of earning cash back or rewards points. If you choose cash back rewards, then you’ll earn 1.5% back on all of your eligible purchases, with no spending limits. You receive your cash back automatically as a statement credit to your account or to your eligible checking or savings account each quarter (March, June, September and December). And if you choose rewards points, you have a rewards rate of one point for every dollar spent and receive 1,000 bonus points every billing cycle when you spend at least $1,000 on qualifying purchases. Reward points can be redeemed for gift cards, merchandise, airline tickets and more, and you get a 10% points credit when you redeem points online. There’s no annual fee for this card, and no foreign transaction fees. 

*All information about the Wells Fargo Business Secured Credit Card has been collected independently by Nav. This card is not currently available through Nav. To see what business credit cards are available, please visit the Nav Credit Card Marketplace.

5. FNBO Business Edition® Secured Visa® Card

If you have fair credit, this card offers small business owners the chance to enjoy an exceptionally large line of credit to pay your business expenses. You can request your own credit limit between $2,000 and $100,000. And although you have to submit a security deposit equal to 110% of the amount of your credit limit, you also earn interest on it . Be sure to make your monthly payments by the statement due date, and your payment history will be reflected on your credit report, helping you to build excellent credit. This card has a $39 annual fee. 

*All information about the FNBO Business Edition® Secured Visa® Card has been collected independently by Nav. This card is not currently available through Nav. To see what business credit cards are available, please visit the Nav Credit Card Marketplace.

What Credit Score Do You Need to Get a Business Credit Card?

Just as with personal credit cards, you can get a secured business credit card with fair or even poor credit. However, there’s no minimum credit score required and card issuers will look at other personal finance factors beyond your credit score and your credit report from companies like Experian. But if you have fair or poor credit, then you won’t qualify for some of the best business credit cards that have welcome offers and introductory APRs on balance transfers. 

Can You Get A Business Credit Card With No Credit Check?

There are some business credit cards, like BREX that don’t require a personal guarantee or a personal credit check. But you can expect a credit check from most business cards from companies like Chase and American Express that offer sign-up bonuses,  intro APR offers and the most competitive interest rates. 

Ways to Improve Your Credit Score

There are several ways that you can improve your credit score. The most important is to make your payments on-time and to carry very little, if any debt. Next, you can have multiple open accounts in good standing, so long as you can manage them responsibly. It also makes sense to look at your credit reports, to ensure that there’s no fraudulent or inaccurate information. 

Things to Consider Before You Apply for a Business Credit Card with Fair Credit

Before applying for a business credit card with fair credit, you should make sure that you have a good chance of being approved. Check your credit score and see if it’s in the fair range, which is generally considered to be 580 to 669 on the FICO score range. If your credit is at the bottom of that range or below, you may wish to consider one of the secured cards for businesses, which are available even if you have poor credit or even bad credit.

How to Pick the Best Credit Card for Your Business

No business credit card is perfect, and if you only have fair credit, your options are limited anyway. As you compare these and other top business credit cards, it’s important to take several factors into consideration, including:

  • Approval requirements: These cards are targeted to business owners with fair credit, but some of them have additional requirements, such as time in business, annual revenue, or liquid assets. Make sure you know a card issuer’s criteria before you apply to avoid an unnecessary denial.
  • Spending habits: Many small business credit cards for fair credit offer rewards programs, and some of them include bonus rewards on certain spending categories. If your business has a lot of expenses in one or two categories, it may make sense to get a card that will reward you more for those purchases.
  • Preferences: Ultimately, it’s up to you to determine what you want in a business credit card. Whether you want cash-back or travel rewards, a 0% APR promotion, or other features, pick a card that best suits your needs.

Can You Get a Business Credit Card with Bad Credit?

Yes, it is possible to get a business credit card if you have bad credit. However, your options may be limited to secured credit cards, which require a security deposit equal to your credit limit. While this can be inconvenient, using the card can help you build your business credit history to give you more options later on when you’re ready to expand your business.

FAQs

Can you get a business credit card with a 600 credit score?

Yes, this is considered to be Fair credit, and there are several cards that are designed for applicants with this credit profile. 

Can I get a business credit card with a 625 credit score?

Yes, this is also considered to be Fair credit, and there are several cards that are designed for applicants with this credit profile. 

What credit score do you need to get a business credit card?

You can get a secured business credit card with almost any credit score, so long as you can prove your identity and you are not in the process of bankruptcy or foreclosure. 

Can I get a business credit card with a 670 credit score?

Yes, this is considered to be Good  credit, and there are many cards that are designed for applicants with this credit profile. 

The Bottom Line

If you have fair credit, you don’t need to worry about missing out on great rewards and perks. The small business credit cards for fair credit have excellent features you can take advantage of while you improve your credit. 

Once your personal credit is in the good or excellent range, compare your card with other top business credit cards to make sure you’re still getting the most bang for your buck. If not, you can always apply for a new one that better fits your business.