Personal and small business cards issued by U.S. Bank are currently not available on CNBC Select and links have been redirected to our credit card marketplace where you can review offers from other issuers like American Express or Chase. You can also check out our list of best credit cards for alternative options.
If you’re a new business owner who needs financing, you may have already realized that getting a new line of credit is easier said than done. You may not be able to qualify for some of the fancy business credit cards with flashy perks (yet), but you can work up to those by starting with a credit card that’s easier to get approved for and makes more sense for a new business owner.
CNBC Select reviewed dozens of options to determine which credit cards were best for new businesses (See our methodology for more information.)
Best business credit cards for new businesses
Best for an average credit score
The Capital One Spark 1% Classic is a good fit for business owners who want to build their credit because it’s available if you have fair credit and there’s no annual fee.
- No annual fee
- Good for building credit history because it only requires a fair credit score
- Low rewards rate and no bonus spending categories
- High APR
Who’s this for? The Capital One Spark 1% Classic considers fair or average credit scores or better, making it ideal for those with less-than-ideal credit.
Standout benefits: This card offers unlimited 1% cash back on all purchases, so you’ll earn rewards on all of your business spending. Considering the comparatively low credit score needed to qualify for this card, that’s a nice perk.
Best for a secured card offer
Valley Visa® Secured Business Credit Card
Information about the Valley Visa® Secured Business Credit Card has been collected independently by CNBC Select and has not been reviewed or provided by the issuer of the card prior to publication.
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Rewards
Unlimited 1% cash back on all purchases
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Welcome bonus
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Annual fee
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Intro APR
0% on purchases and balance transfers for first six billing cycles, variable APR thereafter
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Regular APR
16.20% to 27.75% variable APR
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Balance transfer fee
4% of the amount of each balance transfer or $5, whichever is greater
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Foreign transaction fee
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Credit needed
Pros
- No annual fee
- 0% intro APR offer on purchases and balance transfers
- Unlimited cash back on all purchases
Cons
- No welcome bonus
- High upfront deposit required
Who’s this for? The Valley Visa® Secured Business Credit Card is another solid option if you’re just starting out and need to build your business credit. It’s a secured credit card, which means your credit limit more or less matches the deposit you make on the card. In this case, you need to deposit 110% of your credit limit (up to $25,000). So if you want a $10,000 credit limit, you’ll make a $11,000 deposit.
Standout benefits: The card also offers a six-month introductory APR offer and provides an unlimited 1% cash back on all purchases.
Best for cash back
The Ink Business Cash® Credit Card is a no-annual-fee cash-back business card that’s especially rewarding at office supply stores and gas stations.
- Valuable welcome bonus
- Intro APR for purchases
- No annual fee
- Bonus spending categories have annual limits
- Has a foreign transaction fee
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select’s editorial staff.
- Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening
- Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
- With Zero Liability you won’t be held responsible for unauthorized charges made with your card or account information.
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- 0% introductory APR for 12 months on purchases
- Member FDIC
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
Foreign transaction fee
3% of each transaction in U.S. dollars
Who’s this for? The Ink Business Cash® Credit Card offers an attractive cash-back welcome bonus offer for new cardholders: you’ll earn $350 in cash back when you spend $3,000 in the first three months from account opening. You can also earn an additional $400 if you spend $6,000 in the first six months after account opening.
Standout benefits: The card offers a competitive cash-back program that allows you to earn 5% cash back on the first $25,000 in combined spending for internet, cable, office supplies and phone service for your business each account anniversary year.
Best for balance transfers
- Generous Intro APR offer for purchases
- No rewards
- No welcome bonus
Information about personal and small business credit cards issued by U.S. Bank has been collected independently by CNBC Select and has not been reviewed or provided by the issuer prior to publication.
Who’s this for? If you’re looking to save money on interest by making a balance transfer, the U.S. Bank Business Platinum Card has a competitive introductory offer. Even if you don’t need to make a balance transfer, you can still capitalize on this by using the card to pay for any large business expenses you have coming up (and paying it all off before the introductory period ends and interest kicks in).
Standout benefits: The card does come with a balance transfer fee of 3% of the amount being transferred ($5 minimum), which is low compared to other balance-transfer cards.
More on our picks for best business credit cards for new businesses
Capital One Spark 1% Classic
The Capital One Spark 1% Classic is a solid card for businesses that are just getting started since the low credit requirements may allow for easier approval. Once you get the card and practice good credit habits, like paying off your bill on time and in full each month, you’ll build your credit score and will be able to upgrade to a card with more perks.
Rewards
- 5% back on hotels and rental cars you book through the Capital One Travel site
- 1% back on all other purchases
Welcome bonus
None
Annual fee
$0
Notable perks
This card doesn’t charge foreign transaction fees. You can also request employee cards for free.
Valley Visa® Secured Business Credit Card
This is a secured card that also gives you an intro APR period on purchases, so you can save on interest charges upon first opening the card. If you have a big business purchase to make, it’s most advantageous to do it during your intro offer so you can make interest-free payments until the balance is paid off. Just keep in mind that your credit limit is determined by your deposit — so if you can’t make a big cash deposit, then you won’t be able to charge an expensive purchase to the card.
Rewards
- 1% cash back on all purchases
Welcome bonus
None
Annual fee
$0
Notable perks
This card has an introductory APR period and comes with a balance transfer fee of 4% of the amount you transfer with a $5 minimum.
Ink Business Cash® Credit Card
Cash back from the Ink Business Cash® Credit Card can be used to offset the cost of your credit card bill or to be redeemed for gift cards and travel. If you’re redeeming cash back for travel, it should be done through Chase Ultimate Rewards®.
Rewards
- 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year (then 1%)
- 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year (then 1%)
- 1% cash back on all other purchases
Welcome bonus
Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening
Annual fee
$0
Notable perks
This card has an intro APR period on purchases, a 3% foreign transaction fee and a balance transfer fee of $5 or 5% of the transfer amount, whichever is greater.
U.S. Bank Business Platinum
The U.S. Bank Business Platinum card is a fairly bare-bones credit option, but it can help get your business out of a tricky spot thanks to its strong balance transfer offer. Another plus? It doesn’t come with an annual fee.
Rewards
None
Welcome bonus
None
Annual fee
$0
Notable perks
The intro balance transfer fee is 3% of the amount of each transfer ($5 minimum) but the transfer needs to be made within 60 days of account opening to capitalize on the low fee. Otherwise, it increases to 5% of each transfer ($5 minimum) after those 60 days.
FAQs
Can I use my EIN to get a business credit card?
Many business credit card applications actually require you to apply with your Employer Identification Number (EIN) so it’s a good idea to make sure you have this before you submit any applications for a business credit card.
What is the easiest business credit card to get?
The easiest business credit card to get will have relatively low credit score requirements (perhaps even fair or average credit at a minimum) and no annual fee. Cards without a ton of perks and frills are also sometimes easier to get compared to ones with a welcome bonus and a ton of special rewards. Secured business credit cards are also a solid option for people who are just starting out.
What is the minimum credit score for a business credit card?
Most credit card issuers typically look for a FICO score of 670 or better (in other words, credit scores in the “good” range or better). However, some issuers may also accept fair credit (580–669). Generally, though, the higher your credit score the more likely you are to receive a lower interest rate on your credit card.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of small business and credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best business credit cards.
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Our methodology
To determine the best business credit cards for new businesses, CNBC Select analyzed several business credit card options.
We compared each card on a range of features, including credit score requirements, secured card offers, rewards (e.g., cash back, points and miles), annual fees, welcome bonuses, introductory and standard APR and balance transfer fees and foreign transaction fees.
We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.
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Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
