Secure Business Credit Card

A secured business credit card is a financing option available to small business owners with personal credit scores below 580.

Secure business credit card. Alerts notify you about available credit and account activity. They can help owners improve both their personal and business credit scores through the responsible use of a line of credit. Unlike a prepaid card a secured card is an actual credit card that reports to the three major credit bureaus providing the opportunity to build your credit with responsible use. The wells fargo business secured credit card is ideal for business owners looking to build business credit and earn rewards.

It offers 1 5 cash back on all purchases charges an annual fee of just 25 and requires a security deposit of at least 500. Showcase your business with the card design studio service. Keep your business protected. Used wisely the secured credit card is a gateway to your future.

One option to help you build your business credit is a secured business credit card using secured business credit cards responsibly and paying your bills on time can help improve your business credit scores and potentially open up more funding options down the line. Let your credit score soar. It s also the only business specific secured card available nationwide. Getting a business loan or a business credit card can be tough if you don t have great business credit scores.

After starting a new business i signed up for a wells fargo business secured credit card in order to get things rolling again. And build your credit score as you go by making sure to handle your card finances wisely. You ll be fully reimbursed for unauthorized purchases that are made with your business secured credit card and reported promptly. You can make deposits at any time in 100 increments.

The minimum opening deposit is 500. However i was told after a year of good standing with the card i would be graduated to a unsecured line of credit. Your secured credit card can serve as a stepping stone to bigger things like unsecured cards car loans or even a mortgage. Prepaid cards are more like debit cards and cannot help you build your credit because they do not report to the major credit bureaus.

A secured credit card can help establish strengthen and even rebuild your credit. Apply for the bankamericard secured credit card and enjoy access to your fico score updated monthly for free within your mobile banking app or in online banking. Your available credit will be 90 of your savings account balance.