If you're a millennial entrepreneur with a not-so-perfect credit score, finding the best business credit card can be a challenge. In this Flik Eco guide, we'll help you discover the top business credit cards for a 650 credit score, empowering you to take control and start building your financial future while managing your business expenses effectively. Say goodbye to endless web searches and hello to a simple breakdown of your best options. Ready? Let's dive in!
Best Business Credit Cards For 650 Credit Score Table of Contents
Understanding Your 650 Credit Score
Having a 650 credit score places you in the fair credit range and, while not perfect, it's not a bad starting point. It's important to take steps toward improving your credit score to qualify for better financial products and terms in the future. But for now, let's focus on finding the right business credit card for your current circumstances.
Best Business Credit Cards for a 650 Credit Score
Capital One® Spark® Classic for Business
- No annual fee
- 1% cashback on all purchases
- Free employee cards
- Auto rental collision damage waiver
- Purchase and fraud protection
- Designed for business owners with average credit
Wells Fargo Business Secured Credit Card
- $25 annual fee per card
- 1.5% cashback on all purchases or rewards points option
- Security deposit from $500 to $25,000
- Zero liability protection for unauthorized transactions
- Free online access to your FICO credit score
BBVA Compass Business Secured Visa® Credit Card
- $40 annual fee, waived the first year
- 1 Compass Point per $1 spent on qualifying purchases
- Security deposit equal to 110% of your desired credit limit
- Free access to BBVA Business Net Cash account management
- Visa benefits, including fraud protection and auto rental insurance
Blue Business® Plus Credit Card from American Express
- No annual fee (terms apply)
- 2X Membership Rewards® points on up to $50,000 in eligible purchases per year
- 1X Membership Rewards® points on other purchases
- 0% introductory APR on purchases for 12 months
- Additional employee cards at no extra cost
Each of these cards has its own set of pros and cons, but they all cater to business owners looking for a credit card while having a fair credit score. It's critical to compare your options and choose the card that best aligns with your business needs and spending habits.
Best Business Credit Cards For 650 Credit Score Example:
Jane is a young entrepreneur who runs an online store selling handmade jewelry. She has a credit score of 650 and is looking for a business credit card to help manage her expenses and earn rewards.
After reviewing the options listed above, Jane decides to apply for the Capital One® Spark® Classic for Business. This card offers 1% cashback on all purchases, which suits her business needs, and also comes with no annual fee. Additionally, the auto rental collision damage waiver is beneficial for when Jane needs to rent a car on business trips.
We hope you found this Flik Eco guide helpful in discovering the best business credit cards for a 650 credit score. Remember to always use your credit card responsibly, strive to improve your credit score over time, and soon you'll unlock even more advantageous financial products and offers.
Feel free to share this article with your fellow entrepreneurs and don't hesitate to explore Flik Eco's other guides for more tips on personal finance and investing. Together, let's build a brighter financial future!
