There are some things to keep in mind if you're considering applying for a secured business credit card. The amount must be transferred from your existing business bank account. The money is not to be used on the credit card until it is paid off.
Wells Fargo Business Credit Card
The Wells Fargo Business Secured Credit Card makes a great choice for business credit cards. The card is free of foreign transaction fees and charges, as well as no annual fee. Like other business credit card, you can have automatic payments or overdraft coverage. This card also offers many features and rewards.
This card is a great way to establish a credit history for the company. It does not use a FICO score and does not report to the personal credit bureaus, but reports to the Small Business Financial Exchange. You can also open an account with a $500 deposit and a credit limit of $500. If you have a strong credit history, you may be eligible to raise your credit limit.
The ease of accessing your online account management is one of the key benefits offered by this business credit cards. Cardholders with the Wells Fargo Business Secured Credit Card can access multiple accounts from one spot. It should only be used to make purchases, and not for payments on balances, due to its high interest rate.
Wells Fargo Business Visa Credit Card Secured
For business owners, there are many advantages to this card. First and foremost, the card is free from foreign transaction fees and has no annual fee. It offers many convenient benefits, such as autopay and online accounts management, overdraft protection, fraud monitoring, and autopay. You should also consider the $0 fraud liability perk.
Wells Fargo's purchase guarantee guarantees that if your card is used to purchase an item, it will be repaired or replaced free of cost. You must remember, however, that in addition to the guarantee, Wells Fargo will regularly review your account and credit history. You will need to consider your payment history, credit score, and payment history before you can be approved for an unsecured small business credit card.
Rewards programs are another thing to look for in business credit cards. Although this card has rewards, the rewards are less than other cards. One point can be earned for every dollar spent by applicants with good or excellent credit. A card that offers cash back or points is best for those with a smaller credit profile.
Wells Fargo Secured Visa Credit Card
If you are looking for a credit card that doesn't require a high credit score, you might want to consider a Wells Fargo Secured Visa Credit Card. The card has low annual fees and good rates. While it is not a reward card, it does offer a 0% intro APR balance transfer offer for the first 18 months. It also offers auto rental damage insurance, and reports to multiple credit agencies. The one drawback is that it doesn't offer rewards programs or cash back. However, it charges a balance transfer fee (5%) and a foreign transaction fees (3%).
The company reviews accounts periodically, and checks for recent credit history. You can also get secured business cards. This credit card allows the upload of an image that represents your business. This image can be a logo, a picture of your storefront, or even a product line. The image will be displayed on your card once it is uploaded.