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Best Secured Business Credit Cards for 2024

Review Updated
Brittney Myers
Author: Brittney Myers
Brittney Myers
Brittney Myers
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Brittney started her writing career in the world of science, putting her physics degree to good use. Her journey into finance started with building her personal credit, but soon grew into a borderline obsession with credit cards and travel rewards. For the last 7 years, she has enjoyed the ability to share her expertise with readers, as well as the opportunity to interview companies and individuals making an impact on our financial lives. She wholly believe most problems can be solved with the right research -- and a good spreadsheet -- and she specializes in translating complex financial topics into actionable advice to help educate and empower readers.

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Eric McWhinnie
Fact Checked: Eric McWhinnie
Eric McWhinnie
Eric McWhinnie

Eric McWhinnie has been writing and editing digital content since 2010. He specializes in personal finance and investing. He also holds a bachelor’s degree in Finance.

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These days, building a business essentially requires access to reliable credit cards. Keeping your business expenses separate and being able to purchase supplies when you need them are vital parts of good business. But business credit cards often require you to have good credit. The best secured business credit cards provide a way to build business credit and make purchases without worrying about your poor personal credit.

Unfortunately, the options for secured business cards are limited. Our list of the best secured business credit cards also includes a few useful alternatives that are general consumer cards, some of which don't require a security deposit. Check out our guide to learn more.

  • Our team of experts reviewed over 260 credit cards
  • We evaluate all credit cards across the same 4 key criteria: value, welcome experience, fees, and perks
  • Our credit card ratings are never influenced by our advertising partners
  • If we wouldn't recommend an offer to a close family member, we won't recommend it to you

Motley Fool Money's best secured business credit cards
Show The List [+] Hide The List [-]

Ratings Methodology

Brex Card

Great for: Building business credit without a personal guarantee

Read Review
Brex Card
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Credit Score: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Read Review
Credit Score Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Good/Excellent (670-850)

Intro APR

Purchases: N/A

Balance Transfers: N/A

Regular APR

N/A

Rewards Circle with letter I in it. 8x points on rideshare, 5x points on Brex travel, 4x points on restaurants, 3x points on recurring software, 1x points on other purchases

1x -8x points

Annual Fee

N/A

Welcome Offer

N/A

  • This card is great for small business owners who have limited credit history but have reliable capital. Read Full Review

    • No personal guarantee
    • Purchase rewards
    • Build business credit
    • No card fees
    • Brex Cash account required
    • Must be paid daily
    • No sole proprietors

    • No annual fees
    • No personal guarantee required
    • Flexible card limits based on your company’s cash flow
    • Generous rewards for Brex Exclusive users
    • No foreign transaction fees

Wells Fargo Business Secured Credit Card

Great for: Secured business card with cash back rewards

Wells Fargo Business Secured Credit Card
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Credit Score: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: New/Rebuilding Under(579)
Credit Score Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

New/Rebuilding Under(579)

Intro APR

Purchases: N/A

Balance Transfers: N/A

Regular APR

15.15%, Variable

Rewards Circle with letter I in it. Earn 1.5% cash back on qualifying purchases or earn 1 point on every $1 spent and receive 1,000 bonus points every billing cycle when you spend at least $1,000 on qualifying purchases.

1.5% cash back or 1 point per dollar spent

Annual Fee

None

Welcome Offer

N/A

    • Purchase rewards
    • No annual fee
    • No foreign transaction fees
    • Good credit not required
    • Potential upgrade to unsecured card
    • Must have Wells Fargo account
    • Deposit required
    • Cash Back option: Earn 1.5% cash back on qualifying purchases
    • Reward Points option: Earn 1 point on every $1 spent and receive 1,000 bonus points every billing cycle when you spend at least $1,000 on qualifying purchases
    • $500 to $25,000 credit line
    • Zero Liability protection
    • No annual fee

OpenSky® Secured Visa® Credit Card

Great for: Building personal credit with no credit check required

Read Review
OpenSky® Secured Visa® Credit Card
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Credit Score: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: New/Rebuilding Under(579)
Read Review
Credit Score Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

New/Rebuilding Under(579)

Intro APR

Purchases: N/A

Balance Transfers: N/A

Regular APR

25.64%, variable

Rewards

N/A

Annual Fee

$35

Welcome Offer

N/A

  • A good option for new to credit applicants. The fact that there's no credit check could justify the annual fee for some cardholders Read Full Review

    • No credit check
    • Flexible credit limit
    • Reports payments to all three credit bureaus
    • Annual fee
    • No rewards
    • Minimum deposit amount
    • No credit check is great for building credit
    • $35 annual fee
    • $200 minimum security deposit

What is a secured business credit card?

The difference between a secured business credit card and an unsecured business card is the deposit. A traditional secured credit card requires a cash deposit to open the account. That deposit secures the account in case you default (stop paying).

TIP

How large will your credit line be?

With secured cards, the size of your deposit will usually dictate your available credit line. If you put down a $500 deposit, you will receive a $500 credit line.

Your deposit is entirely refundable if you close your account in good standing. In other words, the card issuer will refund your full deposit if you never default and pay your entire balance before you close your account.

Other than the deposit, secured cards operate just like unsecured cards. You can use them to make purchases anywhere the network is accepted. You'll also need to pay your balance off by your due date like any other card.

Who needs a secured business credit card?

Secured credit cards are designed for people who need to build credit. Most business credit cards rely on a personal guarantee. This means you're personally responsible for paying the card balance even if your business fails.

That personal guarantee means credit card issuers will check your personal credit when you apply for a business card. If you have poor personal credit, you may be rejected for a business credit card.

The deposit requirement of a secured card gives the card issuer, well, security. It offers them a way to recover their money if you default on the card account. As a result, the best secured credit cards are often much easier to qualify for than unsecured cards.

How to find the best secured business credit card

There are very limited options for finding the best secured business card. In fact, we only know of one major bank that offers a secured business card: the Wells Fargo Business Secured Credit Card.

The Wells Fargo Business Secured Credit Card is a solid option for business owners with poor or limited credit. It has a wide deposit range, which means you can potentially have a large credit limit.

Responsible use of your Wells Fargo Business Secured Credit Card can help you build business credit. This includes making at least your minimum payment before the due date every month. You should also keep your balances low and avoid maxing out your card.

READ MORE: How to Apply for a Credit Card (and Get Approved)

Alternatives to secured business credit cards

Since the field of secured business cards is quite small, you may want to consider alternatives. Your exact options will depend on your personal credit and, in some cases, your business credit.

Corporate credit cards

Many small business credit cards will check your personal credit as part of the application process. But a corporate credit card won't involve your personal credit at all.

The Brex Card on our list is a corporate card. For new or low-revenue companies, the card will connect to your Brex Cash account and be paid daily.

TIP

Not for all businesses

Since they don't involve your personal credit, corporate credit cards aren't for all business types. Only companies that qualify as distinct business entities are able to get a corporate card.

Eligible business structures may include:

  • LLCs
  • LLPs
  • S-corps
  • C-corps

If you are a sole proprietor or regular consumer, you can't get a corporate card. Some corporate cards may also have annual revenue minimums that are quite high.

Secured consumer credit cards

If your business won't qualify for a corporate card, the next best alternative is a secured consumer card. We put several on our list for just this reason. Secured cards are the best credit cards for bad credit.

Secured credit cards for consumers have similar requirements to secured business credit cards. You'll need to make a deposit to open and maintain the account. Consumer cards will typically have lower minimum and maximum deposit limits than business cards. This also means you'll have less credit available to use.

Using your secured card responsibly over time can build or rebuild your credit. The most important step is making all of your payments on time every month. You should also aim to maintain a low utilization rate (how much of your available credit you use).

READ MORE: What Is a Credit Utilization Ratio?

Business loans

Depending on your circumstances, you may qualify for a business loan. Many business credit cards will check your personal credit. With certain business loans, your business's credit may be more important.

Since sole proprietors don't typically have separate business credit, lenders will likely check their personal credit. However, if you have an LLC or corporation and strong business credit, you may qualify.

Consumer loans

If all else fails, you can try taking out a personal loan to cover important business expenses. There are all kinds of personal loans and lenders out there.

A standard personal loan will come in amounts ranging from $500 up to $10,000 or more. How much you can get will likely depend on your personal credit history. Your credit will also factor into the interest rate you receive. Loans for bad credit tend to have high interest rates.

READ MORE: Best Personal Loans for Bad Credit

If you qualify for a personal loan, you can often receive funds in a few days. You'll get a lump sum deposited into your bank account that you can use for whatever you need. Personal loans are repaid via fixed monthly payments. The size of your payments and duration of your loan terms will be set during the application process.

Credit-builder loans are a good option for anyone whose main goal is to boost their credit scores. These loans aren't ideal for obtaining funds needed to make purchases.

READ MORE: What Is a Credit-Builder Loan and How Do I Get One?

The Picks
Card Rating Great For
Graphic of Brex Card
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Great For:

Building business credit without a personal guarantee
Wells Fargo Business Secured Credit Card
Graphic of Wells Fargo Business Secured Credit Card
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Great For:

Secured business card with cash back rewards
Graphic of OpenSky® Secured Visa® Credit Card
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Great For:

Building personal credit with no credit check required

FAQs

  • Wells Fargo is the only major national bank we know of that offers a secured business credit card. You may find small regional banks or credit unions with other options.

    Alternatively, you can explore other types of financing. This may include:

    • Corporate credit cards
    • Secured consumer credit cards
    • Business loans
    • Personal loans

  • Secured business cards can be useful tools, but they do have potential drawbacks.

    Pros:

    • Available to business owners with poor or limited credit
    • Make purchases anywhere the network is accepted
    • Build business credit with responsible use

    Cons:

    • A cash deposit is required
    • Your credit line is limited to your deposit
    • Only eligible business structures can build business credit

  • Secured business credit cards can definitely be worth it when used responsibly. They're especially useful if you want to start building business credit but don't qualify for an unsecured business card.