What are the best credit cards for a small business with no credit?
Most business credit cards require good or excellent credit for approval. That means small business owners with no credit who are in search of the best deal should consider general-consumer cards, too. Doing so will not increase your personal liability; it will simply expand your selection of offers to choose from and thus help you minimize the cost of credit building. Keep that in mind as you consider our editors’ picks.
2017’s Best Business Credit Cards For No Credit
The credit-building process is the same whether you’re a small business owner or a normal consumer. You need to fill your personal credit reports with positive information to build a track record of financial responsibility. You can find tips and tricks for how to do so in our guide on building credit
. You can also track your progress and get grades for each component of your credit score on WalletHub
What is the purpose of a business credit card?
The purpose of a business credit card depends on the company using it. Business credit cards are best known for lucrative rewards in popular business spending categories as well as for helpful expense-tracking tools. Some entrepreneurs also use credit cards to finance company expenses, but it’s better to use a personal credit card than a business credit card for that. Thanks to an imbalance in user protections, credit card companies can jack up the rates on existing business credit card balances at any time, whereas a personal account must be at least 60 days delinquent. Plus, using a personal credit card for business will not increase your liability, as even business credit card users are personally liable for unpaid balances.