No, there is no secured business credit card from American Express. Amex doesn’t offer secured consumer credit cards either. In fact, the easiest American Express credit cards to get require at least good credit for approval.
Amex is not the end of the road for those who want a secured business credit card, however. The Wells Fargo Business Secured card is one of the best options. It gives 1.5% cash back for every $1 spent, and it charges a $0 annual fee. The minimum deposit is $500, and whatever amount you deposit becomes your credit limit. It’s also one of the only secured business cards that reports to the business credit bureau Dun & Bradstreet. That can help if you’re trying to build your business’s credit history, though business credit reports aren’t as influential as personal reports.
Secured business credit cards are an option for business owners with bad credit or limited credit history. But business owners don’t need to get a secured business credit card for company expenses. You’ll find lots more secured credit card offers for individuals than businesses. Personal secured credit cards also generally come with lower minimum deposits than secured business cards, and the best ones have no annual fee.
The best secured consumer credit card out right now is the Discover it Secured card because it has no annual fee and gives 1 - 2% Cash Back on purchases. And all the cash back you earn in the first year will be doubled. Considering many secured credit cards don’t even offer rewards, it’s a nice cherry on top.
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