4 Credit Cards Options for New Businesses with No Credit History

When you’re the new kid on the block, it’s difficult to know where to turn for funding for your business.

When all you’ve got is a little business history and a lot of plans, it might be difficult to find lenders who are willing to extend a business loan to you.

What’s a new business to do?

Luckily, even if you don’t have any business credit history under your belt, your personal credit history can help you access one of the very best financing options out there for new businesses—a business credit card.

Here’s what you need to know to navigate your choices for credit cards for new businesses with no credit history.

TL;DR: Finding the Best Credit Card for Your New Business with No Credit History

Don’t have time to read the entire article?

Here’s the short version of finding a great credit card for your new business with no credit history:

First and foremost, you’re in the right place.

Credit cards are one of the very best funding options for new businesses because they rely pretty much entirely on the business owner’s personal credit. Plus, they come with amazing perks that could be just the jumpstart your new business needs.

• For the longest 0% intro APR period on the market at 15 months of 0% interest on monthly balances, get The Blue Business Plus.
• For the most generous welcome bonus on the market at 80,000 rewards points, consider the Chase Ink Business Preferred.
• For stellar flat-rate sustained reward at an unlimited 2% cash back on every dollar you spend, look into the Capital One Spark Cash for Business.
• And, finally, if your personal credit is less-than-stellar, The Capital One Spark Classic for Business could be the best bet for your new business credit card.

What to Know About Business Credit Cards

First thing’s first, it’s crucial to understand a few things about business credit cards before we dive into answering the question of the best credit cards for new business with no credit history.

One of the most crucial things to understand about business credit cards?

Credit card issuers will look to your personal credit score to determine whether or not you qualify for a business credit card.

The way they see it, you, as the business owner, will oversee all of the spending done on the business credit card account, so the main qualification they’ll look to is how trustworthy you are as a borrower. And the main metric for that is—you guessed it—your personal credit score.

Though this fact might be frustrating for some well-established business owners whose personal credit scores are less-than-stellar, it’s great news for new business owners. As long as your personal credit score falls somewhere over 550, then you’re more than likely on your way to getting an unsecured credit card for your business along with some pretty lucrative perks.

What Makes Business Credit Cards Ideal for New Businesses

What exactly are some of these lucrative perks?

Well, there are more than a few for you to choose from. And the best news?

They’re all extremely helpful for new businesses that need a financial jump start. Let’s take a look at the top four perks that business credit cards can offer your new business:

1. 0% Intro APR Periods

One of the most new-business-friendly perks that a business credit card can offer is a 0% intro APR period.

What is that, exactly?

Well, it’s pretty much exactly what it sounds like—a period of time after you open your account in which your credit card balances will carry no interest at all.

As long as you make your minimum monthly payments on time, you’ll be able to carry a balance from month-to-month during your intro APR period without accumulating a single cent of interest.

Setting things up before the cash starts rolling in has never been easier than it is with a 0% intro APR period.

2. Welcome Bonuses

Another credit card feature that seems like it was tailored specifically for new businesses is the welcome bonus. When a card comes with a welcome bonus, you’ll get a lump sum of cash back or rewards points if you reach a certain spending threshold within a certain amount of time.

When you’re setting everything up for your new business, you’ll not only need a lump sum influx of returns from your credit card, you’ll also likely be spending more than enough to meet the bonus’s spending threshold.

3. Sustained Rewards

Business credit cards for new business with no credit aren’t all just one-off perks, though.

Most all business credit cards come with a long-term rewards program. Whether you receive flat-rate or tiered, cash back or rewards points, you’re almost certainly seeing a return for your business spending when you do it on a business credit card.

4. Funding for Fair Credit

Last but certainly not least, business credit cards for new businesses with no credit can also provide you with business funding even if you’re working with fair personal credit.

Not to mention, you might even be able to access a rewards program with your business credit card, even if you’re a new business owner with fair credit.

No Business Credit? No Problem: Your Top 4 Credit Cards for New Businesses with No Credit History

Now that we’ve gone over the general perks that a credit card for new business can come with, let’s take a look at all of the best business credit cards that actually boast these perks.

Here are the top credit card perks for new businesses put into practice:

For the Longest 0% Intro APR: The Blue Business Plus

If you want to optimize the 0% intro APR period on your credit card for new business, then you should consider the Blue Business Plus from American Express.

This business credit card grants new business a whopping 15 months of no-interest balances, so long as they make their minimum payments on time.

Along with that lengthy 0% intro APR period, the Blue Business Plus offers the following perks:

• 2x rewards points for the first $50,000 you spend every year
• 1x rewards points for all of your spending beyond that cap
• No annual fee

Even better?

American Express will report all of your activity on the Blue Business Plus to business credit bureaus, which means that your responsible spending will help you build your business’s credit history.

All in all, the Blue Business Plus is the very best business credit cards for new businesses with no credit history that need to carry a credit card balance and build business credit.

For the Most Generous Welcome Bonus: The Ink Preferred

If you think a one-off welcome bonus will be the most beneficial perk for your new business, then you should definitely look into the Chase Ink Business Preferred.

This business credit card comes with one of the—if not the–most generous welcome bonuses available on the market.

If you spend $5,000 during your first three months with the card, then you’ll receive a welcome bonus of 80,000 rewards points. If you redeem these points through Chase Ultimate Rewards, then your welcome bonus will be worth a staggering $1,000.

Beyond this welcome bonus, The Ink Preferred comes with the following perks:

• 3x points on the first $150,000 you spend annually within the following categories:
  • Travel
  • Shipping purchases
  • Advertising purchases made with search engines and social media sites
  • Internet, cable, and phone services
• 1x rewards after that spending threshold
• No foreign transaction fees
• Additional employee cards at no cost

One notable downside to opting for the Ink Preferred is that it comes with an annual fee of $95. However, when this fee is stacked up against your signing bonus, it seems like no more than small change.

For Flat-Rate Cash Back Rewards: The Spark Cash

If you want your new business credit card to prioritize a simple, long-term rewards program, then you should look into the Capital One Spark Cash for Business. This credit card for new businesses with no credit history offers a flat-rate, unlimited 2% cash back for every single dollar you spend on your business with the card.

Not to mention, this card comes with a welcome bonus of $500 once you spend $4,500 during your first three months with the card. However, be sure to note that this card comes with a $95 annual fee, though Capital One will waive your annual fee for your first year with the Spark Cash.

While this card’s signing bonus might pale in comparison to the Ink Preferred’s signing bonus, the Spark Cash’s simple, unlimited rewards could really add up and ultimately compensate for the difference.

For Fair Credit: The Spark Classic

Finally, if you’re looking for a source of funding for your new business, but your personal credit leans more on the average side, then the Capital One Spark Classic for Business is your best bet.

Because its minimum personal credit score rounds in at 550, the Spark Classic is one of, if not the most, accessible unsecured business credit card on the market. Most other options available to business owners with personal credit scores below 620 are secured credit cards, which means they require a security deposit for their credit limit.

But that’s not the only reason the Spark Classic stands out. It also offers cash back rewards to business owners with average personal credit—you’ll get an unlimited 1% cash back for every dollar you spend with the Spark Classic.

The best news of all?

The Spark Classic doesn’t come with an annual fee, so these perks are available to new business for free.

The Bottom Line for Credit Cards for New Businesses with No Credit History

So, what’s the bottom line for all of this information on credit cards for new businesses with no credit history?

All in all, you’re in a good spot for getting a business credit card.

Though you might have a hard time securing a traditional business loan with little business history, a business credit card could be just the solution you’re looking for.

Not to mention, many business credit cards offer perks that can jumpstart a new business into financial success.

With all of these perks available even to new business owners, what’s to stop you?

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