Best Business Credit Cards For Fair Credit Of August 2024 (2024)

The best business credit cards for fair credit were chosen based on welcome bonuses, fees, rewards and other perks. Keep in mind, what may be best for some consumers might not be right for you. Conduct informed research before deciding which cards will best help you achieve your financial goals.

To learn more about our rating and review methodology and editorial process, check out our guide on How Forbes Advisor Rates Credit Cards.

Business credit cards work much like personal credit cards. The main distinction is you’ll use the card exclusively for business purchases. That keeps your business expenses separate and makes it easier to budget how much cash flow you’ll typically need.

Here’s how business credit cards work:

• Put business purchases on your business credit card.
• When your billing cycle closes, review the statement with your balance and minimum amount due.
• Take advantage of the grace period to maximize your cash flow if needed.
• Pay the balance in full to avoid interest charges on your account.
• The amount of your payment gets added back to your available credit limit.
  Some credit cards allow you to choose a statement closing date that works best for your business.

After you decide you need a credit card for your business, your next steps are to:

• Assess your personal and business credit to determine which cards you may qualify for.
• Determine if you want a charge card or a credit card.
• Gather your information, including your Social Security number for sole proprietors or Employer Identification number for other business types, projected income and monthly spending amounts.
• Apply—answer the application questions to the best of your ability.
• Wait to receive your new business credit card or try again at a later time.

If you’re denied, you still have options. You can continue to build your business credit or ask for reconsideration.

You’ll want to have an established business that spends on legitimate business needs before applying for any business credit card. You don’t need a million-dollar business to qualify. In fact, freelance work or side hustles like tutoring, coaching, writing or other activities can be enough.

Having a deposit account, such as a business checking account, could give you a boost toward approval if your bank issues the business credit card you want. Banks like to nurture relationships with their customers.

If you have fair credit and want a credit card for your business, the Capital One® Spark® Classic for Business* is likely to be your best unsecured bet. You can also consider secured business cards, or you may be able to find a local or regional bank with options not available nationwide.

If you have fair credit, work to improve your credit score so you can choose among a wider range of cards. Many strong business credit cards exist, and you’ll be more likely to find a better fit (or find one at all) if your credit is good or better.

Honestly evaluating where you are on your credit journey is the jumping off point for choosing the best business credit card for your business.

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