Best secured business cards of December 2023
If you’re a business owner with bad or limited credit, one of our picks for the best secured business credit cards can help improve your credit rating. This is especially a solid option if you’ve previously had difficulty getting approved for a traditional business credit card.
Your secured business credit card will require a refundable deposit that’ll initially serve as your credit line until a bank determines whether or not you’re eligible for an unsecured card. A secured business credit card is also a great way to separate your business and personal expenses while improving your business credit score (which is separate from your personal credit score).
Used responsibly, a secured business credit card could mean better approval chances for business loans and credit lines with favorable terms in the future.
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- 5% Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
- 1.5% Earn unlimited 1.5% cash back on every purchase, everywhere
Why We Chose It
The Capital One Quicksilver Secured Cash Rewards card is a great secured business card with a low security deposit — a minimum of just $200. In addition, cardmembers earn an unlimited 1.5% cash back on all purchases plus 5% back on hotels and car rentals booked through Capital One Travel. You can see if you’re preapproved for the card (with no risk to your credit score), and since the Quicksilver Secured Cash card is a secured credit card, you’re likely to be approved even with bad credit or limited credit history. Cardmembers will also automatically be considered for a higher credit line after six months of on-time payments. You can read the full review of the Capital One Quicksilver Secured Cash Rewards card for more information on this card.
Pros
- Approval is possible with short/bad credit history.
- Unlimited cash back.
- No annual fee.
Cons
- No sign-up bonus.
- Few bonus earning categories.
- No annual or hidden fees, and you can earn unlimited 1.5% cash back on every purchase, every day. See if you're approved in seconds
- Put down a refundable $200 security deposit to get a $200 initial credit line
- Building your credit? Using a card like this responsibly could help
- Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
- You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
- Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
- Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
- Monitor your credit score with CreditWise from Capital One. It's free for everyone
- Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
Why We Chose It
The Capital One Quicksilver Secured Cash Rewards card is a great secured business card with a low security deposit — a minimum of just $200. In addition, cardmembers earn an unlimited 1.5% cash back on all purchases plus 5% back on hotels and car rentals booked through Capital One Travel. You can see if you’re preapproved for the card (with no risk to your credit score), and since the Quicksilver Secured Cash card is a secured credit card, you’re likely to be approved even with bad credit or limited credit history. Cardmembers will also automatically be considered for a higher credit line after six months of on-time payments. You can read the full review of the Capital One Quicksilver Secured Cash Rewards card for more information on this card.
Pros
- Approval is possible with short/bad credit history.
- Unlimited cash back.
- No annual fee.
Cons
- No sign-up bonus.
- Few bonus earning categories.
- No annual or hidden fees, and you can earn unlimited 1.5% cash back on every purchase, every day. See if you're approved in seconds
- Put down a refundable $200 security deposit to get a $200 initial credit line
- Building your credit? Using a card like this responsibly could help
- Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
- You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
- Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
- Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
- Monitor your credit score with CreditWise from Capital One. It's free for everyone
- Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
Pros
- Approval is possible with short/bad credit history.
- Unlimited cash back.
- No annual fee.
Cons
- No sign-up bonus.
- Few bonus earning categories.
- No annual or hidden fees, and you can earn unlimited 1.5% cash back on every purchase, every day. See if you're approved in seconds
- Put down a refundable $200 security deposit to get a $200 initial credit line
- Building your credit? Using a card like this responsibly could help
- Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
- You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
- Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
- Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
- Monitor your credit score with CreditWise from Capital One. It's free for everyone
- Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
Why We Chose It
The OpenSky Secured Visa Credit Card is a great option for business owners who have struggled to get approved for other secured credit cards. It’s a great option for those with financially limiting factors in their life, as it does not require a credit check or even a bank account. The card claims a high approval rate, and cardholders will automatically be considered for an increased credit line after six months. Unfortunately, the card does come with a $35 annual fee. You can read the full review of the OpenSky Secured Visa Credit Card for more information on this card.
Pros
- No credit pull.
- Approval is possible with short/bad credit history.
Cons
- Annual fee.
- No reward earning.
- Limited Time Offer: $51 funding voucher applied for all new accounts. Get a $200 credit line for $149. Click Apply Now to see additional terms and conditions.
- No credit check to apply. Zero credit risk to apply!
- Looking to build or rebuild your credit? 2/3 of cardholders receive a 48+ point improvement after making 3 on-time payments
- Extend your $200 credit line by getting considered for an unsecured credit line increase after 6 months - no additional deposit required!
- Get free monthly access to your FICO score in our mobile application
- Build your credit history across 3 major credit reporting agencies: Experian, Equifax, and Transunion
- Add to your mobile wallet and make purchases using Apple Pay, Samsung Pay and Google Pay
- Fund your card with a low $200 refundable security deposit to get a $200 credit line
- Apply in less than 5 minutes with our mobile first application
- Choose the due date that fits your schedule with flexible payment dates
- Fund your security deposit over 60 days with the option to make partial payments
- Join over 1.2 million cardholders who have used OpenSky to build their credit
Why We Chose It
The OpenSky Secured Visa Credit Card is a great option for business owners who have struggled to get approved for other secured credit cards. It’s a great option for those with financially limiting factors in their life, as it does not require a credit check or even a bank account. The card claims a high approval rate, and cardholders will automatically be considered for an increased credit line after six months. Unfortunately, the card does come with a $35 annual fee. You can read the full review of the OpenSky Secured Visa Credit Card for more information on this card.
Pros
- No credit pull.
- Approval is possible with short/bad credit history.
Cons
- Annual fee.
- No reward earning.
- Limited Time Offer: $51 funding voucher applied for all new accounts. Get a $200 credit line for $149. Click Apply Now to see additional terms and conditions.
- No credit check to apply. Zero credit risk to apply!
- Looking to build or rebuild your credit? 2/3 of cardholders receive a 48+ point improvement after making 3 on-time payments
- Extend your $200 credit line by getting considered for an unsecured credit line increase after 6 months - no additional deposit required!
- Get free monthly access to your FICO score in our mobile application
- Build your credit history across 3 major credit reporting agencies: Experian, Equifax, and Transunion
- Add to your mobile wallet and make purchases using Apple Pay, Samsung Pay and Google Pay
- Fund your card with a low $200 refundable security deposit to get a $200 credit line
- Apply in less than 5 minutes with our mobile first application
- Choose the due date that fits your schedule with flexible payment dates
- Fund your security deposit over 60 days with the option to make partial payments
- Join over 1.2 million cardholders who have used OpenSky to build their credit
Pros
- No credit pull.
- Approval is possible with short/bad credit history.
Cons
- Annual fee.
- No reward earning.
- Limited Time Offer: $51 funding voucher applied for all new accounts. Get a $200 credit line for $149. Click Apply Now to see additional terms and conditions.
- No credit check to apply. Zero credit risk to apply!
- Looking to build or rebuild your credit? 2/3 of cardholders receive a 48+ point improvement after making 3 on-time payments
- Extend your $200 credit line by getting considered for an unsecured credit line increase after 6 months - no additional deposit required!
- Get free monthly access to your FICO score in our mobile application
- Build your credit history across 3 major credit reporting agencies: Experian, Equifax, and Transunion
- Add to your mobile wallet and make purchases using Apple Pay, Samsung Pay and Google Pay
- Fund your card with a low $200 refundable security deposit to get a $200 credit line
- Apply in less than 5 minutes with our mobile first application
- Choose the due date that fits your schedule with flexible payment dates
- Fund your security deposit over 60 days with the option to make partial payments
- Join over 1.2 million cardholders who have used OpenSky to build their credit
Comparing the best secured business cards
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| Credit card | Best for | Intro offer | Earning Rate | Annual Fee | |
| Best for earning rewards |
N/A
|
1.5 - 5% cash-back
1.5 - 5% cash-back
details
|
$0 | ||
| Best for business owners with poor credit history |
Limited Time Offer: $51 funding voucher applied for all new accounts. Get a $200 credit line for $ 149
. |
details
|
$35 |
More details on our best secured business credit cards
Why get a secured business credit card?
Not every business owner is in a financial position to receive an unsecured business credit card or a large business loan. A secured credit card can help build responsible spending habits and increase credit standing.
Secured business credit cards should be treated with the same rules as personal credit cards. You can check out this guide for more tips on using your credit card.
With recurring “good standing” usage, business owners should see a significant increase in their credit score within a year of opening their credit cards. This increase can help business owners upgrade to unsecured business credit cards or qualify for a business loan with more favorable terms. This can include some of TPG’s favorite business cards with hefty welcome bonuses and an array of valuable perks.
How long does it take to build credit with a secured business card?
Using a secured credit business card effectively will help you build your business credit. Typically, this process can take up to a year as you transition to an unsecured business card. Having good business credit history will help your business qualify for better loans and credit lines.