Starting a new business is exciting. But it can be hard without credit. Do not worry. There are credit cards for new businesses with no credit. These cards can help you build credit. They also help manage your expenses.
Why Get a Credit Card for Your Business?
A business credit card has many benefits. Here are some reasons why you should get one:
- Separate personal and business expenses
- Build business credit
- Track your spending
- Earn rewards and cashback
Now, let us look at some of the best credit cards. These cards are good for new businesses with no credit.
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1. Capital One Spark Classic for Business
Capital One Spark Classic is a great option. It is for new businesses with no credit history. Here are some features:
- No annual fee
- Earn 1% cashback on all purchases
- Easy to qualify with no credit history
This card helps you build credit. It also offers cashback. This can help save money on business expenses.
2. Wells Fargo Business Secured Credit Card
Wells Fargo Business Secured is another good choice. This card is for businesses with no credit. Here are some features:
- Secured credit card with a deposit
- Earn 1.5% cashback on purchases
- No annual fee
A secured credit card means you need a deposit. The deposit is your credit limit. This card helps you build credit over time.
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3. Brex Card for Startups
Brex Card is designed for startups. It does not require a personal guarantee. Here are some features:
- No personal credit check
- Earn rewards on business spending
- No annual fee
This card is good if you do not have a credit history. It also offers rewards for your business spending.
4. American Express Blue Business Cash Card
American Express Blue Business Cash is a good option. It is for new businesses with no credit. Here are some features:
- No annual fee
- Earn 2% cashback on eligible purchases up to $50,000 per year
- 0% introductory APR for 12 months
This card helps you save money with cashback. It also offers an introductory 0% APR. This can help manage expenses in the first year.
5. Discover it Business Card
Discover it Business Card is another good choice. It is for new businesses with no credit. Here are some features:
- No annual fee
- Earn 1.5% cashback on all purchases
- Dollar-for-dollar match of all cashback earned at the end of the first year
This card offers a cashback match. It also has no annual fee. It is a good option for new businesses.
How to Choose the Best Credit Card for Your Business?
Choosing the best credit card can be hard. Here are some tips to help you:
- Look for a card with no annual fee
- Check the rewards and cashback offers
- Consider the credit limit and interest rates
- Read the terms and conditions carefully
These tips can help you find the best card for your business. Now, let us look at how to apply for a business credit card.
How to Apply for a Business Credit Card?
Applying for a business credit card is easy. Follow these steps:
- Choose the right credit card for your business
- Gather your business information (EIN, business name, address)
- Fill out the application form
- Submit the application
Once you submit the application, wait for approval. It usually takes a few days. If approved, you will receive your card in the mail.
Tips for Building Business Credit
Building business credit is important. Here are some tips to help you:
- Pay your bills on time
- Keep your credit card balances low
- Monitor your business credit report
- Use your credit card regularly
These tips can help you build good business credit. Good credit is important for your business growth.
Frequently Asked Questions
What Are The Best Credit Cards For New Businesses?
Some top cards are Chase Ink Business Cash, Capital One Spark, and American Express Blue Business.
Can I Get A Credit Card With No Credit History?
Yes, some cards are designed for new businesses with no credit history.
How Do I Choose A Business Credit Card?
Look for low fees, good rewards, and benefits that fit your business needs.
What Is The Best Card For Cash Back?
Chase Ink Business Cash offers great cash back on office supplies and other purchases.
Conclusion
Getting a credit card for your new business is important. It helps you manage expenses and build credit. There are many good options for new businesses with no credit. Choose the best card that fits your needs. Follow the tips for building business credit. This will help your business grow.
