Best secured business cards of February 2023

By
Christina Ly
Editor
Nick Ewen
Updated
Jan 30, 2023
This page is a marketplace where our partners can highlight their current card offers. The reviews and insights represented are editorial, but the order in which cards appear on the page may be influenced by compensation we may receive from our partners.

Business owners with bad (or limited) credit can find it difficult to get approved for a traditional business credit card. But bad credit does not have to limit your business opportunities – a secured business credit card can be a great alternative. 

All secured cards require a refundable deposit that will initially serve as a credit line until the bank has determined that you are eligible for an unsecured card. Most deposits will be returned to you following six months of on-time payments. 

A secured business credit card is also a great way to separate your business expenses while improving your business credit score. In addition, responsible spending on your business credit card will improve your creditworthiness. This can make it easier to qualify for larger business loans and credit lines with more favorable terms in the future. 

TPG Editor's Rating tooltip icon
3/5
1.5 - 5% cash-back
details
  • 5% Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
  • 1.5% Earn unlimited 1.5% cash back on every purchase, everywhere
no offer
Intro Offer
no offer
$0

Why We Chose It

The Capital One Quicksilver Secured Cash Rewards card is a great secured business card with a low security deposit — a minimum of just $200. In addition, cardmembers earn an unlimited 1.5% cash back on all purchases plus 5% back on hotels and car rentals booked through Capital One Travel. You can see if you’re preapproved for the card (with no risk to your credit score), and since the Quicksilver Secured Cash card is a secured credit card, you’re likely to be approved even with bad credit or limited credit history. Cardmembers will also automatically be considered for a higher credit line after six months of on-time payments. You can read the full review of the Capital One Quicksilver Secured Cash Rewards card for more information on this card. 

Pros

  • Approval is possible with short/bad credit history.
  • Unlimited cash back.
  • No annual fee.

Cons

  • No sign-up bonus.
  • Few bonus earning categories.
  • No annual or hidden fees, and you can earn unlimited 1.5% cash back on every purchase, every day. See if you're approved in seconds
  • Put down a refundable $200 security deposit to get a $200 initial credit line
  • Building your credit? Using a card like this responsibly could help
  • Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
  • You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
  • Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
  • Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
  • Monitor your credit score with CreditWise from Capital One. It's free for everyone
  • Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024

Pros

  • Approval is possible with short/bad credit history.
  • Unlimited cash back.
  • No annual fee.

Cons

  • No sign-up bonus.
  • Few bonus earning categories.
  • No annual or hidden fees, and you can earn unlimited 1.5% cash back on every purchase, every day. See if you're approved in seconds
  • Put down a refundable $200 security deposit to get a $200 initial credit line
  • Building your credit? Using a card like this responsibly could help
  • Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
  • You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
  • Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
  • Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
  • Monitor your credit score with CreditWise from Capital One. It's free for everyone
  • Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024

Pros

  • Approval is possible with short/bad credit history.
  • Unlimited cash back.
  • No annual fee.

Cons

  • No sign-up bonus.
  • Few bonus earning categories.
  • No annual or hidden fees, and you can earn unlimited 1.5% cash back on every purchase, every day. See if you're approved in seconds
  • Put down a refundable $200 security deposit to get a $200 initial credit line
  • Building your credit? Using a card like this responsibly could help
  • Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
  • You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
  • Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
  • Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
  • Monitor your credit score with CreditWise from Capital One. It's free for everyone
  • Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
Best for business owners with poor credit history
TPG Editor's Rating tooltip icon
2/5
no offer
details
no offer
no offer
Intro Offer
no offer
$35

Why We Chose It

The OpenSky Secured Visa Credit Card is a great option for business owners who have struggled to get approved for other secured credit cards. It’s a great option for those with financially limiting factors in their life, as it does not require a credit check or even a bank account. The card claims a high approval rate, and cardholders will automatically be considered for an increased credit line after six months. Unfortunately, the card does come with a $35 annual fee. You can read the full review of the OpenSky Secured Visa Credit Card for more information on this card. 

Pros

  • No credit pull.
  • Approval is possible with short/bad credit history.

Cons

  • Annual fee.
  • No reward earning.
  • No credit check to apply and find out instantly if you are approved.
  • OpenSky gives everyone an opportunity to improve their credit with an 85% average approval rate for the past 5 years
  • You could be eligible for the OpenSky Gold Unsecured Card after as few as 6 months
  • Reports to all 3 major credit bureaus monthly, unlike a prepaid or debit card
  • View your FICO® Score through your OpenSky account, an easy way to stay on top of your credit
  • Nearly half of OpenSky cardholders who make on-time payments improve their FICO score 30+ points in the first 3 months
  • Your refundable* deposit, as low as $200, becomes your OpenSky Visa credit limit
  • Easy application, apply in less than 5 minutes right from your mobile device
  • Offer flexible payment due dates which allow you to choose any available due date that fits your payment schedule
  • *View the cardholder agreement

Pros

  • No credit pull.
  • Approval is possible with short/bad credit history.

Cons

  • Annual fee.
  • No reward earning.
  • No credit check to apply and find out instantly if you are approved.
  • OpenSky gives everyone an opportunity to improve their credit with an 85% average approval rate for the past 5 years
  • You could be eligible for the OpenSky Gold Unsecured Card after as few as 6 months
  • Reports to all 3 major credit bureaus monthly, unlike a prepaid or debit card
  • View your FICO® Score through your OpenSky account, an easy way to stay on top of your credit
  • Nearly half of OpenSky cardholders who make on-time payments improve their FICO score 30+ points in the first 3 months
  • Your refundable* deposit, as low as $200, becomes your OpenSky Visa credit limit
  • Easy application, apply in less than 5 minutes right from your mobile device
  • Offer flexible payment due dates which allow you to choose any available due date that fits your payment schedule
  • *View the cardholder agreement

Pros

  • No credit pull.
  • Approval is possible with short/bad credit history.

Cons

  • Annual fee.
  • No reward earning.
  • No credit check to apply and find out instantly if you are approved.
  • OpenSky gives everyone an opportunity to improve their credit with an 85% average approval rate for the past 5 years
  • You could be eligible for the OpenSky Gold Unsecured Card after as few as 6 months
  • Reports to all 3 major credit bureaus monthly, unlike a prepaid or debit card
  • View your FICO® Score through your OpenSky account, an easy way to stay on top of your credit
  • Nearly half of OpenSky cardholders who make on-time payments improve their FICO score 30+ points in the first 3 months
  • Your refundable* deposit, as low as $200, becomes your OpenSky Visa credit limit
  • Easy application, apply in less than 5 minutes right from your mobile device
  • Offer flexible payment due dates which allow you to choose any available due date that fits your payment schedule
  • *View the cardholder agreement

Email this card link for later

Send the link to this card’s detail page to a friend or save it to apply later.

Card Name

More on the best secured business cards of February 2023

This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.

Card Best for Welcome Offer/Sign Up Bonus Earning Rate Annual Fee
Capital One Quicksilver Secured Cash Rewards Credit Card Best for earning rewards N/A
  • Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
  • Earn unlimited 1.5% cash back on every purchase, everywhere
$0
OpenSky® Secured Visa® Credit Card Best for business owners with poor credit history N/A N/A $35

Why get a secured business credit card? 

Not every business owner is in a financial position to receive an unsecured business credit card or a large business loan. A secured credit card can help build responsible spending habits and increase credit standing. 

Secured business credit cards should be treated with the same rules as personal credit cards. You can check out this guide for more tips on using your credit card.

With recurring “good standing” usage, business owners should see a significant increase in their credit score within a year of opening their credit cards. This increase can help business owners upgrade to unsecured business credit cards or qualify for a business loan with more favorable terms. This can include some of TPG’s favorite business cards with hefty welcome bonuses and an array of valuable perks.

How long does it take to build credit with a secured business card?

Using a secured credit business card effectively will help you build your business credit. Typically, this process can take up to a year as you transition to an unsecured business card. Having good business credit history will help your business qualify for better loans and credit lines.