Chase does not offer secured business credit cards, but other credit card companies do. For example, the Wells Fargo Business Secured credit card has a low annual fee of $0 with a minimum deposit of $500. And the BBVA Compass Business Secured credit card actually waives its $40 annual fee for the first year you have the card (the minimum deposit is $500).
That said, you don’t necessarily need a business credit card to use for your business. There’s no law against using a regular, personal credit card for business expenses. And there are lots more options for personal secured credit cards than there are for secured business credit cards, so you might find a better deal.
If you get a secured personal card instead of a secured business card, you’ll generally have a lower annual fee and lower minimum deposits. For example, if you get the Capital One Secured Mastercard, there is a chance your card could be partially secured – meaning you’ll only need to deposit a fraction of the credit line up-front.
There are no Chase secured business credit cards available right now. There’s actually never been a secured business credit card from Chase. Chase offers unsecured business credit cards for people with good credit or better.
Best cash back rewards: Discover it® Secured card has a $0 annual fee and 1 - 2% cash back on purchases: 2% cash back on up to $1,000 spent at restaurants and gas stations each quarter (1% everywhere else). And Discover matches your first year’s rewards. Requires a $200 deposit.
So, even though you’re not able to get a Chase secured credit card, you still have plenty of options. And they’ll all help you start building your credit, plus save some money. Once you get your credit score to “good”, you can start thinking about applying for a Chase credit card.
The best Chase business credit card is the Ink Business Preferred® Credit Card because it offers a bonus of 100,000 points for spending $15,000 in the first 3 months. Ink Business Preferred also gives 3 points / $1 spent on travel and select business purchases, plus 1 point / $1 on everything else. Preferred provides free employee cards, too. And it has a $0 foreign transaction fee. The annual fee is $95.… read full answer
The Chase Ink Business Cash card offers the best ongoing cash back bonuses of any Chase business credit card. It has a $750 bonus for spending $7,500 in the first 3 months. And it gives 5% cash back on the first $25,000 spent per year at office supply stores and on internet/cable/phone services. Plus, it offers 2% back on the first $25,000 spent per year at gas stations and restaurants, along with 1% on everything else. There’s a $0 annual fee.
But if you want to earn rewards at a flat rate, Ink Business Unlimited comes out on top. It offers unlimited 1.5% cash back on all purchases. And it has a $0 annual fee.
A good credit card to consider for a new LLC is the Capital One Spark Classic for Business, as it offers a range of business benefits such as year-end summaries, employee cards at no extra cost and experienced small business customer service.
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