How to Get a Secured Business Card

You can get a credit card no matter how bad your business credit is.

Secured business credit cards are an excellent way to build your business or personal credit history especially if previous credit ratings have been poor. You are almost guaranteed to get a secured business card because in order to get one, your business will have to provide some sort of collateral.

Things You'll Need

• Collateral
• Bank account
• Business

Instructions

Collateral and finance

1. Identify something the business can use as collateral. This could be cash, property, shares or any other suitable asset. The bank will use the value of the collateral to determine the amount to advance for the secured business card.

2. Examine all the fees, terms and annual percentage rates being offered by a couple of credit card companies. Look and determine those most favorable for your business needs.

3. Look for any special rewards that the credit card companies may be offering, like reward points and no interest for specified periods.

4. Determine and consider any protection plans which will deter identity theft and protect your business financial interests. Research and compare as offers such as zero interest, value plus or other such promotions which will help your business financially.

5. Apply for the secured business card you want. Make your payments on time since you have a stake in the loss of your collateral.

Tips & Warnings

• Only offer collateral you are ready to lose.

• If the credit card has penalties for early payments, avoid it.

References

• Credit: Secured Credit Cards
• Love To Know: Secured Small Business Credit Cards
• Credit Card Flyers: Secured Credit Card Offers
• Value Plus Financial: Secured Credit Cards