4 Ways to Get Business Credit Cards With No Credit

Applying for a company credit card is obviously a priority to practically every entrepreneur. Many entrepreneurs, particularly small company owners are always keen to have business credit cards, which may be vital in making business payments. However, an issue occurs if you do not have a safe credit history since it makes the entire procedure complicated and even impossible. This challenge is significantly amplified if you are seeking an unsecured business credit card. 

Again, having little income or resources, as well as having a firm that is not yet established might add further pressure to the situation. Nevertheless, company owners who are seeking business credit cards with no credit might investigate several techniques to allow them to achieve business credit cards with almost no credit at all. Here are some proven approaches and answers for acquiring business credit cards with no credit.

Get a Secured Business Credit Card

This is undoubtedly one credit card alternative that a company owner might examine. A secured company credit card does not require any prior credit history. As a company owner, a secured business credit card may be issued to you as long as you furnish the requisite deposit, which serves as security or collateral to your business credit card. The issuing bank might be forced to utilize the deposit if you fail to pay your monthly payment or any other financial obligation. 

Generally, it is simple to apply for secured business credit cards with no credit. However, in the case that you are struggling to fulfill eligibility limitations that may be set by certain issuing banks, you have the alternative of applying for a business credit card that does not need credit checks. While these secured company credit cards may need you to put down significant security deposits, they provide the same perks just as any unsecured business credit card.

Using a Credit Partner

Partnering with someone with a solid credit history is another method to acquiring a company credit card without credit. For instance, cooperating with a company partner with solid credit might enhance your chances of getting a business credit card. All your business partner needs to do is to apply for a company credit card and add you as an authorized user. This is not only a viable technique of simplifying the company' expenditures but also a big way of enhancing your personal credit score.

Get Your Business’ Payments on Various Credit Records

To create suitable eligibility for receiving a business credit card, you might consider having all your company’ payments recorded by any major credit bureau such as TransUnion, Equifax, and Experian. For example, if your firm is located on a leased business property, you might consider urging your Landlord to sign up for a program such as RentTrack. This will guarantee that whenever you make rent payments it reports to the credit agencies, so making it feasible for you to qualify for a business credit card.

Apply for a Single Business Credit Card

Even while this may not contribute directly towards securing a company credit card, it is worth mentioning that applying for numerous business credit cards when you have no established credit might work against you. This is because your firm has not proved that it can manage even a single business credit card. Therefore, consider applying for a single company credit card until that time when you have an established credit record. Also, bear in mind that paying your company' invoices and financial responsibilities on time and without failure is vital for applying for a business credit card either with credit or no credit.

To this reason, company owners should recognize that acquiring a business credit card without any credit is certainly a tough experience. However, resorting to secured business credit cards, collaborating with a qualified individual, registering company payments with credit agencies, as well as going to credit-builder loans might quintessentially assist them to achieve business credit cards with no credit.