How to Get a Business Credit Card with Bad Credit

A business credit card is very important for those people that operate a business. You will a business credit card to run your business. But if you already have bad credit, you do not have too panicky. It is still very much possible to get a business credit card with bad credit. Bad credit cannot stop you from getting a business credit card.

How to Get a Business Credit Card with Bad Credit

Though it seems impossible, it is true. You should also know that it is not very easy to acquire a business credit card with bad credit. Having bad credit does not mean that you cannot get a business card. To get a business credit card, you will need to spend sometime surveying credit card options to find a good one.

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Why you should Get a Business Credit Card with a Bad Credit

Getting a business credit card with bad credit may seem like a bad idea, but it is not. There are some reasons why you will be needing a business card.

  • If you want to keep your business and your personal spending separate, you will need a business credit card. You can use your personal card to fund your business, but it can become complicated when you need to subtract your expenses.
  • Tax filing can become complicated when you use your personal card to run your business. So, it is advisable you get a business card.
  • If you are interested in running rewards on purchases, it is best you get a business card.
  • Also, if you are interested in earning cash back, miles, or points on things like office supply store runs, dinners out with customers, or business travel, then you should get a business credit card.

So, having two cards, which are a personal credit card, and a business credit card is the best.

Business Credit Cards you can Get with a Bad Credit

There is a diverse business credit cards that you can apply for with bad credit. Here are a few of them.

  • Capital One Spark Classic for Business.
  • Wells Cargo Business Secured.
  • Union Bank Business Secured Visa Credit Card.
  • OpenSky Scores Visa Credit Card.
  • First National Bank of Omaha Business Edition Secured Visa Card.

Here are the business credit cards you can get with bad credit.

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Get a Business Credit Card with Bad Credit

To get a business credit card with bad credit, you will need to apply for a credit card.  And you are most likely to get a credit card online, except you get a credit card offer in the mail. And when you apply, you will need the following data.

  • SSN – Your Social Security Number.
  • Employer Identification Number or Taxpayer Identification Number.

Your business information such as

  • Address.
  • phone number.
  • Name.
  • Legal structure.
  • Industry.
  • Years in business.
  • The number of employees.
  • Revenue.
  • Monthly estimated spending.

If you get rejected after applying for a credit card, you should reach out to the card issuer, he or she might have a reconsideration division that will review your application. This will help check if there are other factors that will help you qualify for a business credit card.

How to Choose a Business Credit Card for a Bad Credit

When trying to get a business card with bad credit, you need to look out for some things. Your choices will be limited because of your bad credit, so you will have to search for a credit card that will permit you to create a payment history. So, when choosing a business credit card;

  • You have to choose a card whose deposit you can afford.
  • Search for a card with low or no annual fees.
  • Ensure that the card’s reward program fits your spending.
  • Choose a card that offers the best individual features that fit your business needs.
  • You have to be certain that the card reports to the three credit bureaus.
  • Check for minimum and maximum deposit amounts with secured cards. You have to ensure that the maximum deposit money will not be a limiting factor in your spending.

When you follow these steps, you will be able to successfully choose a good business credit card.

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