What's the best credit card for construction businesses?

The best home improvement credit card is the Wells Fargo Active Cash® Card because it offers an introductory APR of 0% for 15 months from account opening on purchases and gives unlimited 2% cash rewards on purchases. Wells Fargo Active Cash also offers $200 cash rewards after spending $1,000 in the first 3 months. By using this card for home improvements, you’ll have over a year to pay back a costly project and will recoup some of the expense through rewards.... read full answer

Best Home Improvement Credit Card

If you’re looking to buy everything in one place, the best home improvement store credit cards are the Lowe's Store Card (5% discount on every purchase at Lowe’s) and the Home Depot® Credit Card ( 0% deferred interest for 6 - 24 months).

If you choose to go with a store-branded home improvement credit card, beware of deferred interest. While it might let you go a long time without paying interest, it’s dangerous. You only owe no interest if you pay in full by the end of the 0% APR period. If you don’t pay in full, you owe all the interest you would have been charged during the intro period if the regular APR had been in place.

You need a credit score of at least 640 for a Home Depot® Credit Card. This means you should have fair credit or higher for approval. That’s the case for both the Home Depot® Credit Card and the Home Depot® Business Credit Card. Both Home Depot credit cards are store cards, meaning they can be used only at Home Depot. Their 640+ credit score requirement is consistent with that of other ... read full answerstore credit cards.

However, your credit score is only one of the factors considered when you apply. The issuer will also consider your income, employment status, payment history, and debt level, among other factors.

Here are the Home Depot® Credit Card approval requirements:

• Credit score requirement: A credit score of 640+ (fair credit).
• Age requirement: Must be at least 18 years old. If you’re under 21 years old, you must have proof of independent income or a co-signer.
• Residency requirement: You must be a U.S resident. Address must be a physical location in one of the 50 U.S. states or Washington D.C. Note that P.O. box addresses will not be accepted.
• Basic application info: Includes full name, address, phone number, Social Security number, and birthdate.
• Financial info: Includes monthly rent or mortgage payment, residence status (own/rent), and total annual net income (annual income after taxes).

If you get approved for the Home Depot® Credit Card, you will receive a credit limit of at least $300. For the Home Depot® Business Credit Card, your credit line will be at least $500.

Keep in mind that the credit score needed for a Home Depot® Credit Card could also get you a number of good credit cards that can be used anywhere. For example, the Capital One QuicksilverOne Cash Rewards Credit Card offers 1.5% cash back on all purchases. However, it comes with a $39 annual fee. For business owners, Capital One Spark Classic for Business gives 1% cash back on all purchases and has a $0 annual fee.

The easiest business credit card to get is the Business Advantage Unlimited Cash Rewards Secured credit card because it accepts applicants with bad credit. This card also rewards cardholders with 1.5% cash back on all purchases and has a $0 annual fee. A minimum security deposit of $1000 is required, though.

In general, the easiest credit cards for a business to get require ... read full answerbad-to-fair credit for approval. It’s also worth noting that while you must have a business to get most of these cards, your personal credit history matters a lot more than your company’s credit standing.

Easy Approval Credit Cards for Business

As you can see, there are a few easy approval business credit cards available, so you shouldn’t let limited or damaged credit prevent you from getting the card your business needs. Also, remember that if you pay your bills on time and keep your credit utilization ratio low, your credit should steadily improve over time.