How can I apply for the Bank of America Secured credit card as a business? This question is about the BankAmericard® Secured Credit Card

How can I apply for the Bank of America Secured credit card as a business?

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This question is about the BankAmericard® Secured Credit Card

Damian Barrow, Member

@damian_barrow • 09/28/20 This answer was first published on 09/28/20. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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You cannot apply for the Bank of America Secured credit card as a business. You can, however use this card for business expenses.

The Credit Card Act of 2009 clearly differentiates general consumers from businesses. While many issuers will extend some consumer protections to small businesses as a courtesy, that doesn't mean you can apply for a consumer credit card as a business.

Here are a few suggestions for secured business credit cards:

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Does Bank of America have a secured business credit card?

Yes, Bank of America does have a secured business card, the Business Advantage Unlimited Cash Rewards Secured credit card. This card gives you 1.5% cash back on purchases and has a $0 annual fee.

The Business Advantage Unlimited Cash Rewards Secured Card requires a security deposit of at least $1000. You can get approved for this card even with bad credit.

Alternatives to a Bank of America Secured Business Credit Card… read full answer

It's worth noting that you have more options if you’re willing to consider general-purpose secured credit cards. For example, you could use the BankAmericard® Secured Credit Card for business expenses.

Ultimately, if you're not loyal to Bank of America, you can check out our editors’ latest picks for the best secured business cards on the market to weigh your options.

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