You’re about to apply for a business credit card online, and your finger hovers over the “submit” button for the application. You may hesitate for a moment, wondering whether you’ll be approved, and how that application will affect your credit scores.
This fear of impacting their credit may even lead some small business owners to search for “soft pull” credit card applications. They want to apply without any impact to their credit scores.
Don’t let those worries stop you from getting the business credit card your business needs.
We’ll explain which are the easiest credit cards to get with minimal impact to your credit scores.
Quick List of Our Top Picks for the Easiest Business Credit Cards to Get That Offer a Soft Pull
Most small business credit cards will require a hard credit check, also known as a hard credit pull, before the application will be approved. Here are two cards that do not.
Nav Prime Card
The Nav Prime Card* does not check personal credit. In addition, Nav Prime Card transactions are reported as a monthly tradeline, turning everyday transactions into opportunities that can build business credit with regular use.
In addition, Nav Prime gives you cash flow insights, detailed credit reports, multiple tradelines, and tools that may improve your financial health so you can access the best financing options for your business when you need it. The Nav Prime card is available exclusively to Nav Prime members.
The Nav Prime Card is not available in CA, NV, ND, SD.
The application process for the is fast and simple and will have no impact on your personal credit score. As with most small business credit cards, a personal guarantee is required. To qualify, you must:
- Be an active director of the company or majority shareholder of 25%+ ownership.
- Be based in the US (you and the business)
- Have annual business revenue of at least $30,000.
This cash back rewards credit card offers . And there is a welcome offer
The is popular for its best in class expenses management features. The credit check is a soft pull, and will not impact your credit scores. It is available to sole proprietors as well as businesses operating under other structures such as a corporation or LLC.
If offers rewards: .
Note that business owners who apply are more likely to be approved if they have at least two years in business, OR at least $50,000 in a business bank account, OR $500,000 or more in annual revenue, OR a credit score of at least 680.
What Is a Soft Pull?
When you apply credit, many lenders check credit by purchasing a credit report and/or credit score from one of the major consumer credit bureaus or business credit bureaus.
When talking about credit checks, a “soft pull,” also known as a “soft inquiry,” refers to a type of credit check that does not affect your credit scores. This is in contrast to a hard inquiry, which can affect your credit scores.
Soft pulls are common and happen more often than most people realize. For instance, when you check your own credit score, receive a pre-approved credit offer in the mail, or when your card issuer reviews your credit report to determine whether you are eligible for a credit line increase, a soft pull is typically involved.
Sometimes a soft credit pull will be followed by a hard credit pull. The first credit check will be for preapproval, to give you an idea of whether you’re likely to qualify. If you decide to apply for the card there will be a regular hard inquiry.
How Too Many Hard Pulls Affect Credit
The impact of hard credit inquiries varies, due to the many different factors that affect credit scores. But generally, credit scores drop in the range of 3—7 points or so with a single single inquiry. Some inquiries in a short period of time are grouped together and count as one, but that buffer doesn’t apply to credit card applications.
In addition, since most issuers only check credit from one credit bureau, a credit card application will usually just impact credit scores created from the one credit bureau the lender used.
Here’s something else to keep in mind: inquiries typically don’t affect your scores for very long.
Inquiries are reported for two years, but most credit scoring models only consider hard inquiries within the most recent past 6—12 months.
In addition to inquiries, credit scoring models also often consider how many new accounts have been opened recently. New accounts are associated with higher risk, though like inquiries, if you manage them responsibly their impact usually diminishes fairly quickly.
Are Secured Business Credit Cards and Charge Cards Automatically Easiest?
If you have good to excellent credit scores, you’ll likely have your choice of many different business credit cards.
If, however, you have not established credit, or if you have fair credit or even bad credit, you may want to consider credit cards that offer more flexible approval.
Most business secured credit cards are fairly easy to qualify for, but they typically require a personal credit check.
Some business charge cards (which require payment in full, usually daily, weekly or monthly) require a personal credit check. However, the Nav Prime Card*, does not check personal credit.
How to Get Approved for a Business Credit Card
When you apply for a small business credit card, keep in mind that most credit card issuers base their decision on the personal credit score of the applicant, and income from all sources, which can include household income and business income.
You’ll be asked to provide a Social Security Number, and if you have one, an Employer Identification Number (EIN).
Corporate cards often don’t require a personal credit check or a personal guarantee, but they do typically require the business to be formed as a limited liability company (LLC) or corporation, and they will have minimum revenue requirements for the business.
The Nav Prime Card*, does not require a personal credit check and sole proprietorships as well as LLCs and corporations.
The application will also ask questions about your business, including details such as address, phone number and business structure. Most of these cards are available to startups, including new sole proprietorships and partnerships. But if that’s not clear, be sure to ask.
What Makes a Business Credit Card Easy to Get
Often the biggest hurdles to qualifying for a business credit card are personal credit history, and income. As mentioned earlier, most cards require a personal credit check.
Cards that don’t check personal credit, or that have flexible credit requirements, are easier to get if your credit scores aren’t strong.
Again, another major hurdle some business owners encounter is that a few cards (usually corporate cards) require the business to operate as a formal business entity, such as an LLC or corporation. The vast majority of small businesses in the US operate as sole proprietorships, and those business owners will want a credit card or charge card that doesn’t require them to form a business entity.
Finally, owners of new businesses may be concerned they can’t qualify until their business is established and earning a certain amount of money. With many cards, that’s simply not the case. Since many small business loans take into account how long your business has been established, credit cards remain a popular alternative for new business owners.
It’s a great idea to get a business credit card as soon as possible so you can use it to pay business expenses, and separate personal finances from business finances.
Can You Get a Business Credit Card Right Away?
Many business credit cards can be approved in moments when you apply online. You’ll either get a notification that you’ve been approved immediately, and a card will be sent within 7—10 business days, or you’ll get a notification that your application was not approved and you’ll be notified of the reasons why.
If the card offers virtual card numbers, you may be able to use the card (up to your spending limit) before the physical card arrives in the mail.
Sometimes you’ll be told your application is under review, and when that happens, you can either wait to hear from the card issuer or you can try calling the issuer’s reconsideration hotline to talk with someone.
Easiest Business Credit Cards
Again, if you have good credit or excellent credit, and sufficient household income, there are many small business credit cards that will fall into the easy approval category.
Here are two cards that are easy to get, regardless of your personal credit. They are not guaranteed approval—there will still be an application process—but they can be much easier to qualify for than many traditional cards.
The Nav Prime Card*
The Nav Prime Card* is a charge card that is available exclusively to Nav Prime users. It requires no security deposit, and there is no personal credit check.
Get the Nav Prime Card and timely, successful repayments will be automatically reported to the major business credit bureaus as a monthly tradeline, which can be helpful for building credit in the name of your business. Link your bank account to set your limit and repay your balance.
And since Nav Prime offers Detailed Credit Reports, and also reports as a monthly tradeline, you can double your tradelines with the Nav Prime Card.
Here’s how helpful tradelines can be. Customers who used Nav’s Detailed Credit Reports with tradeline reporting saw an increase in business credit scores of up to 50% in the first 3 months.**
The Nav Prime card is currently not available in CA, NV, ND, SD.
First National Bank Business Edition® Secured Visa® Card
The FNBO Business Edition® Secured Visa® Card is a business secured card with a credit limit between $2,000 and $100,000, in multiples of $50, subject to credit approval. Your security deposit must be 110% of the credit limit that you want, however you will earn interest on the deposit. There is an annual fee of $39.
*All information about the First National Bank Business Edition® Secured Visa® Card credit card has been collected independently by Nav. This card is not currently available through Nav. To see what business credit cards are available, please visit the Nav.
More Business Credit Cards
In addition, the following cards are easy to get if you meet the issuer’s qualifications, including creditworthiness and income. These card issuers will check personal credit.
Not sure what you can get? Nav can help you identify the best business credit cards based on your business qualifications.
The offers cardholders . While many business credit cards require excellent credit scores, this card is more flexible. Foreign transaction fees: .
This popular Amex business credit card features a low introductory APR, and a strong welcome offer:
- Strong welcome offer:
The ongoing rewards rate is strong as welll:
Note there is a foreign transaction fee of
Ink Business Cash Credit Card
This Chase Ink card has a good combination of benefits:
- 0% Intro APR on Purchases for 12 months. After that, 18.49%–24.49% variable APR
- Sign-up bonus: Earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening.
- No annual fee
This card offers higher cash back rewards in certain bonus categories. You can 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 a flat-rate of 1% cash back on all other card purchases with no limit to the amount you can earn.
*All information about the Ink Business Cash Credit Card has been collected independently by Nav. This card is not currently available through Nav. To see what business credit cards are available, please visit Nav’s credit card page.
How Nav Can Help
Nav can help you find the best business credit cards and financing from 160+ partners based on your business data. Personalized insights from Nav can help you understand how business and personal credit impact your funding options.
*DISCLAIMER: Nav Technologies, Inc. is a financial technology company and not a bank. Banking services provided by Blue Ridge Bank, N.A., and Thread Bank, Members FDIC. The Nav Visa® Business Debit Card is issued by Blue Ridge Bank, N.A., and the Nav Prime Charge Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa cards are accepted. Your funds are FDIC-insured up to $250,000 through Blue Ridge Bank, N.A., Member FDIC.
**Based on aggregate data tracking Experian® Intelliscore Plus business credit scores after three months of having Nav tradeline reporting. Results will vary. Scores are calculated from many variables; some users may not see improved scores.
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