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Best Secured Business Credit Cards
WalletHub makes it easy to find the best business secured credit card for you.
Secured business credit cards give business owners the convenience of charging company expenses to a credit card and the opportunity to improve their credit score, which is key to qualifying for a large business loan or line of credit in the future.… show more… show more Â
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Best Secured Business Credit Cards
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OpenSky® Secured Visa® Credit Card OpenSky® Secured Visa® Credit Card

- Reasonable $35 annual fee
- $200 minimum deposit
- 3% foreign transaction fee
- No credit check to apply and find out instantly if you are approved.
- OpenSky gives everyone an opportunity to improve their credit with an 85% average approval rate for the past 5 years
- Get considered for a credit line increase after 6 months, with no additional deposit required
- You could be eligible for the OpenSky Gold Unsecured Card after as few as 6 months
- Reports to all 3 major credit bureaus monthly, unlike a prepaid or debit card
- Nearly half of OpenSky cardholders who make on-time payments improve their FICO score 30+ points in the first 3 months
- Your refundable* deposit, as low as $200, becomes your OpenSky Visa credit limit
- Easy application, apply in less than 5 minutes right from your mobile device
- Offer flexible payment due dates which allow you to choose any available due date that fits your payment schedule
- * View the cardholder agreement
- See More Details & Reviews About TheOpenSky® Secured Visa® Credit Card
First Progress Platinum Prestige Mastercard® Secured Credit Card First Progress Platinum Prestige Mastercard® Secured Credit Card

- Low regular APR
- Qualify with limited or no credit history
- Membership fees
- No rewards
- No rewards bonus
- Foreign fee
- Receive Your Card More Quickly with New Expedited Processing Option
- No Credit History or Minimum Credit Score Required for Approval
- Quick and Complete Online Application; No credit inquiry required!
- Includes Free Real-Time Access to Your Credit Score and Ongoing Credit Monitoring powered by Experian
- Full-Feature Platinum Mastercard® Secured Credit Card; Try our new Mobile App for Android users!
- Good for Car Rental, Hotels; Anywhere Credit Cards Are Accepted!
- Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History
- Credit Line Secured by Your Fully-Refundable Deposit of $200 -- $2,000 Submitted with Application
- Just Pay Off Your Balance and Receive Your Deposit Back at Any Time
- 24/7 Online Access to Your Account
- Nationwide program; available in all 50 US states *See Card Terms.
- Get a fresh start! A discharged bankruptcy still in your credit bureau file will not cause you to be declined.
- See More Details & Reviews About TheFirst Progress Platinum Prestige Mastercard® Secured Credit Card
First Progress Platinum Select Mastercard® Secured Credit Card First Progress Platinum Select Mastercard® Secured Credit Card

- Qualify with limited or no credit history
- Membership fees
- No rewards
- No rewards bonus
- Foreign fee
- Receive Your Card More Quickly with New Expedited Processing Option
- No Credit History or Minimum Credit Score Required for Approval
- Quick and Complete Online Application; No credit inquiry required!
- Includes Free Real-Time Access to Your Credit Score and Ongoing Credit Monitoring powered by Experian
- Full-Feature Platinum Mastercard® Secured Credit Card; Try our new Mobile App for Android users!
- Good for Car Rental, Hotels; Anywhere Credit Cards Are Accepted!
- Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History
- Credit Line Secured by Your Fully-Refundable Deposit of $200 -- $2,000 Submitted with Application
- Just Pay Off Your Balance and Receive Your Deposit Back at Any Time
- 24/7 Online Access to Your Account
- Nationwide program; available in all 50 US states *See Card Terms.
- Get a fresh start! A discharged bankruptcy still in your credit bureau file will not cause you to be declined.
- See More Details & Reviews About TheFirst Progress Platinum Select Mastercard® Secured Credit Card
Wells Fargo Business Secured Credit Card Wells Fargo Business Secured Credit Card

- Earn 1.5% cash back for every $1 spent on net purchases. Enrollment in the cash back rewards program is required.
- Collect your cash back automatically as a credit to your account or to your eligible checking or savings account each quarter.
- No membership fees
- No foreign fee
- Qualify with bad credit
- No rewards bonus
- Requires security deposit
- $500 to $25,000 credit line based on the amount you deposit. Up to 10 cards can be issued with no additional fee.
- The Bank may hold collateral for up to 30 days following account closure in order to cover transactions that may be posted to the credit card account after it is closed.
- Your account will periodically be reviewed for an opportunity to upgrade to an unsecured business credit card.
- Manage spending, payments, and transfers online with Wells Fargo Business Online®.
- Manage your expenses using the Business Spending Report.
- Keep your business protected with Zero Liability Program, Rapid Alerts, Fraud monitoring and Purchase Assurance®.
- See More Details & Reviews About TheWells Fargo Business Secured Credit Card
Business Advantage Unlimited Cash Rewards Secured credit card Business Advantage Unlimited Cash Rewards Secured credit card

- Earn unlimited 1.5% cash back on all purchases, everywhere, every time.
- No annual cap and cash rewards don't expire.
- Choose how to redeem your cash rewards – as a deposit into your Bank of America checking or savings account, as a card statement credit or as a check mailed to you.
- No membership fees
- Qualify with bad credit
- No rewards bonus
- Balance transfer fee
- High Regular APR
- Foreign fee
- Open your account with a security deposit (minimum $1,000). Upon approval your credit line will be equal to your deposit account.
- Your account will periodically be review and if your overall credit history improves, you could transition to an unsecured card. Not all customers will qualify.
- Travel benefits your business needs including $100,000 in travel accident insurance. Additional services include auto rental insurance, emergency ticket replacement, lost-luggage assistance and legal and medical referrals when you’re away from home.
- See More Details & Reviews About TheBusiness Advantage Unlimited Cash Rewards Secured credit card
First National Bank of Omaha Business Edition® Secured® Visa Card First National Bank of Omaha Business Edition® Secured® Visa Card

- Qualify with bad credit
- Membership fees
- No rewards
- No rewards bonus
- Balance transfer fee
- Request your own credit limit between $2,000 and $100,000 (multiples of $50), when you apply, subject to credit approval.
- Security deposit is 110% of the amount of your credit limit, between $2,200 and $110,000 (multiples of $50), subject to credit approval.
- Earn interest on your security deposit.
- Automatic Discounts with Visa SavingsEdge®.
- Track expenses, monitor spending, spot tax deductions, prepare tax filings and forecast expenses with ease.
- See More Details & Reviews About TheFirst National Bank of Omaha Business Edition® Secured® Visa Card
Best Business Secured Credit Cards of 2022
Wells Fargo Business Secured Credit Card
The best secured business credit card is the Wells Fargo Business Secured Credit Card because it has a $0 annual fee, no monthly fees, and good rewards. Wells Fargo Business Secured cardholders earn 1.5% cash back on all purchases made with the card.
OpenSky® Secured Visa® Credit Card
The OpenSky® Secured Visa® Credit Card is one of the best secured credit cards for business because there is no credit check for new applicants and the annual fee is just $35. Even entrepreneurs with a recent bankruptcy on their credit report can get approved, for example, and then build the credit needed to qualify for a good credit card branded for business use.
First Progress Platinum Prestige Mastercard® Secured Credit Card
The best low APR secured credit card for business is the First Progress Platinum Prestige Mastercard® Secured Credit Card because its regular interest rate is just 10.24% (V). That can be helpful for business owners who happen to carry a balance from month to month at some point in the future, but secured credit cards in general are not the best for financing. Your spending limit equals the amount of your deposit, after all, so you’re essentially paying interest to use your own money. Most secured cards do charge much higher rates than First Progress Platinum Prestige, though.
Using a personal credit card for business never increases your individual liability, and that’s especially true when you can’t spend more than your security deposit. That’s important to understand because very few secured business credit cards are available to new applicants. As a result, if inexpensive credit improvement is your top priority, you should definitely consider secured cards branded for personal use along with business-branded cards.
Our editors compared both kinds of offers to identify the best secured credit cards for small business owners of all types. You can find a recap of their selections listed by main feature below.
Best Secured Credit Cards for Business Comparison
Credit Card | Best For | Annual Fee | Minimum Deposit |
OpenSky® Secured Visa® Credit Card | Recent Bankruptcy | $35 | $200 |
First Progress Platinum Prestige Mastercard® Secured Credit Card | Low Interest | $49 | $200 |
Wells Fargo Business Secured Credit Card | No Annual Fee | $0 | $500 |
Your goal in finding a secured business credit card, other than minimizing refundable fees, should be to graduate to a higher credit tier and a better offer as quickly as possible. To do that, you must use your card responsibly – by making on-time payments and keeping your credit utilization low – and keep tabs on your credit score.
Methodology for Selecting the Best Secured Credit Cards for Business
To identify the best secured credit cards for business, WalletHub’s editors compare all of the secured cards in our database of more than 1,500 credit card offers. We consider secured cards branded for business use as well as those intended for consumers, given that using a general-consumer card will not increase a small business owner’s personal liability. In addition, considering secured credit cards for businesses and consumers alike dramatically increases a small business owner’s card selection. This ultimately helps applicants find the best card for their needs and maximize their savings as they improve their credit standing.
In particular, the best secured credit cards for business use have low annual fees, good rewards and monthly credit-bureau reporting. We prioritize such features when comparing offers and selecting the best options for different types of applicants.
About the author
John Kiernan has covered the credit card industry for more than 10 years as a writer and editor for WalletHub. His work has been featured by major media outlets such as The Washington Post and The New York Times and has been cited by industry regulators such as the Consumer Financial Protection Bureau. Read Full Author Bio
Secured Business Credit Cards FAQ
Comparing can be tough. But you’ve got the knowledgeable WalletHub community on your side. We encourage everyone to share their knowledge while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not the financial institution’s responsibility to ensure all posts and questions are answered.show more
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Doctoral Student – Finance, University of Texas at San Antonio - Carlos Alvarez College of Business
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MBA, CPM, Clinical Professor of Finance, Knauss School of Business, University of San Diego
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Professional Instructor of Entrepreneurship, Director Entrepreneurship Program, Director, Entrepreneurship Center for Engagement, Department of General Business and Finance, Sam Houston State University
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Ph.D., Equity In Action Presidential Postdoctoral Fellow, School of Management & Marketing, Kean University
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Professor & Harbert Eminent Scholar, Harbert College of Business at Auburn University
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Ph.D., Professor (Emeritus) of Finance and Distinguished University Professor, Widener University
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† Approval Odds are WalletHub estimates intended to gauge your likelihood of approval for a particular product. Approval Odds are based on WalletHub data and are not provided or endorsed by the lender. Approval Odds are not meant to imply or guarantee that you will be approved by the lender or that credit will be extended. WalletHub may share your information with third-parties in order to show personalized offers, as well as enable you to interact more easily with pre-fill forms or applications. You can opt-out of sharing your personal info here.
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