The First National Bank of Omaha Business Edition® Secured Mastercard® Credit Card is a pretty good option for small business owners who have bad credit personally. It has a low annual fee, pays interest on your refundable deposit, and can help you build credit, both personally and for your business, so it’s worth considering.

That said, you won’t earn rewards on purchases made with this card, and you will have to place a pretty hefty security deposit. The amount you put down will be your credit limit, so the FNBO Business Edition Secured Mastercard won’t be much help with financing business expenses either. That’s especially true considering the card’s high APR. 

What I Like About the FNBO Secured Business Credit Card

Available to applicants with bad credit

Most business credit cards require you to have good or excellent credit personally in order to get approved. Many business owners have lower scores, however, so it’s good they have options like the First National Bank of Omaha Business Edition® Secured Mastercard® Credit Card that are a bit easier to get.  
 

Reports to the major credit bureaus monthly

The FNBO secured business credit card reports to all three major consumer credit bureaus, plus Dun & Bradstreet. This gives you the opportunity to add positive information to your personal and business credit reports on a regular basis, which is the recipe for credit score improvement. You just need to pay the bills on time and avoid maxing out the card.  
 

Pays interest on your security deposit

All secured credit cards require you to place a refundable security deposit, which the card’s issuer holds as collateral. Most issuers don’t pay you for the privilege of holding your money, though. The fact that FNBO does pay therefore gives it a bit of an edge in this category. 

What I Don’t Like About the FNBO Secured Business Credit Card

Requires a $2000+ deposit

This is a lot of money to part with, even temporarily. For comparison, secured cards designed for personal use typically require $200 - $300+. 
 

Charges a $39 annual fee

This isn’t egregious, but it is higher than average for a credit card offer right now, according to our research. Plus, a lot of other secured cards don’t charge annual fees. 
 

Doesn’t have rewards

If you want to earn rewards for making purchases, the First National Bank of Omaha Business Edition® Secured Mastercard® Credit Card is not the card for you. You won’t earn cash back, points or miles. 
 

Not good for financing 

If you want a credit card to help you build credit and make small, everyday purchases, this FNBO business card could work well. But if you want to pay off big-ticket purchases over time, you should keep looking. You can’t spend more than you deposit, for one thing. Plus, the APR is far too high to be worth paying. 

If you’re interested in alternatives, check out our editors’ picks for the best business credit cards and the best credit cards for bad credit.