What is the minimum credit score you need for a business credit card?
- What credit score is needed for a business credit card?
- What is a business credit score?
- What’s the difference between personal and business credit scores?
- Business credit card options by credit score range
- How to improve your credit score for business card approval
- Apply for the Ramp Business Credit Card—no credit check required
If you’re thinking about getting a business credit card, it’s important to first understand the typical minimum credit score required for approval.
In most cases, you’ll need a personal credit score of at least 700 to qualify for the best small business credit cards. Issuers usually focus more on your personal credit score than your business credit score, especially if your company is new or doesn’t have much credit history.
Not all cards follow the same rules, though. Some corporate cards skip the credit check altogether and focus on your business’s financials instead. Below, we cover business credit card credit score requirements, different card options by credit score range, and how to improve your score.
What credit score is needed for a business credit card?
Most business credit cards require a personal credit score of at least 670 to qualify. This falls into the “good” credit range according to the FICO scale and is generally the minimum needed to access unsecured business credit cards with favorable terms and rewards.
That said, some options are available to business owners with fair or poor credit:
- Fair credit (580–669): You may qualify for basic unsecured business credit cards designed for credit-building. These cards typically have higher interest rates and fewer rewards, but they can help you build credit over time with responsible use.
- Bad credit (below 580): Secured business credit cards or corporate cards with no credit check are often your best bet. These options don’t rely heavily (or at all) on your credit score and instead require a security deposit that acts as your credit limit.
If your business is new or doesn’t have its own credit history, your personal credit score is the main factor credit card issuers will consider.
What is a business credit score?
A business credit score is a number that reflects your company’s creditworthiness. It’s based on your business’s financial behavior and helps lenders, suppliers, and insurers decide whether to extend credit or offer favorable terms.
Business credit scores are issued by major credit bureaus like Dun & Bradstreet, Experian, Equifax, and FICO, each using slightly different scoring models. These scores typically range from 0 to 100 (though some scales vary) and are based on factors such as:
- Payment history
- Outstanding balances
- Credit utilization ratio
- Trade experiences
- Years in business
- Business size
A higher business credit score can help your company qualify for lower interest rates, higher credit limits, better insurance premiums, and favorable payment terms with vendors.
What is a good business credit score?
A score of 75 or higher is generally considered a good business credit score. Business credit card approvals often rely on your personal credit score, especially for small businesses or sole proprietors. Business credit scores become more important as your company grows or seeks corporate financing.
What’s the difference between personal and business credit scores?
A business credit score reflects the creditworthiness of your company, while a personal credit score reflects your individual creditworthiness. Here’s a quick look at how they differ:
Business credit score | Personal credit score | |
|---|---|---|
What it measures | Your company’s creditworthiness | Your individual creditworthiness |
Key ID used | Employer Identification Number (EIN) | Social Security number (SSN) |
Main factors | Payment history on business accounts, credit utilization, revenue, and years in business | Payment history on personal accounts, credit utilization, credit age, mix of credit types, and new accounts |
Score range | Typically 0–100 (varies by bureau) | 300–850 (FICO or VantageScore) |
What it impacts | Business borrowing, vendor terms, and corporate card limits | Personal loans, mortgages, and personal and business credit card approval |
Business credit card options by credit score range
Business credit cards are available for all kinds of credit profiles, whether you’re just starting to build credit or have an established credit score:
- Limited or no credit: The Ramp Business Credit Card is a top choice for businesses with little to no credit history. It doesn’t require a traditional credit check. Instead, Ramp evaluates your company’s financial health using factors like cash flow, revenue, and business account balances. It also offers a unique sales-based underwriting process.
- Poor or bad credit (300-579): If your credit score is on the lower end, secured business credit cards are a common option. These require a cash deposit that serves as your credit limit. One example is the FNBO Business Edition Secured Mastercard Credit Card, which can help you build or rebuild credit over time.
- Fair credit (580 to 669): A less-than-good credit score doesn’t mean you can’t access decent perks. The Capital One Spark 1% Classic is available to business owners with fair credit and earns unlimited 1% cashback with no annual fee.
- Good credit (670 to 739): If you have a credit score of 670 or higher, the Chase Ink Business Preferred Credit Card is a great option thanks to its valuable rewards program. Points are worth 25% more when you redeem for travel through Chase Travel.
- Very good (740 to 799) to excellent credit (800-850): The Business Platinum Card from American Express is typically considered one of the most attractive business credit cards on the market. For a hefty annual fee, you can earn travel- and business-focused rewards and access over $1,000 in additional perks.
Ramp Business Credit Card
- Higher credit limits: Ramp provides credit limits up to 30 times higher than traditional business credit cards by assessing factors like revenue and funds raised, rather than relying solely on your business credit score
- Flexible qualification options: Ramp partners with major commerce platforms such as Stripe, Shopify, and Amazon to determine credit limits for startups using sales data. With just one year of sales history on these platforms, your business can qualify and accelerate growth
- Exclusive partner rewards: Ramp cardholders enjoy access to over $350,000 in rewards, including discounts, credits, and perks for services like UPS, Amazon Business, AWS, QuickBooks, OpenAI, Notion, HubSpot, and more
- Simplified spend control: Customize and enforce expense policies with Ramp’s spend controls. Set limits by vendor, category, or transaction, and automatically flag out-of-policy or suspicious activity
- Comprehensive financial tools: Ramp’s business credit card includes a suite of finance features such as expense management, financial reporting, accounting integrations, corporate travel booking, and accounts payable automation
- Eligibility: Only available to corporations, LLCs, or LPs; sole proprietors are ineligible
- US operations: Requires primary operations and corporate spending to be within the US, although international purchases are allowed without foreign transaction fees
- Balance transfers: Balance transfers are not supported
How to improve your credit score for business card approval
If your business has little to no credit history, issuers may rely heavily on your personal credit score to assess risk, especially if you’re a sole proprietor or in a partnership. In that case, strengthening your personal credit can make a meaningful difference.
Here are a few tips to help you improve your personal credit score:
- Make more than the minimum payment: Paying just the minimum can lead to high-interest debt and slow progress. Whenever possible, pay your credit card bill in full to reduce your balance faster and show responsible credit use.
- Open a secured credit card and use it responsibly: A secured credit card requires a cash deposit, but it can help you build or rebuild your credit when you use it correctly. Make small purchases and on-time payments to show lenders you handle credit responsibly.
- Set up automatic payments: Missing a payment will almost always hurt your credit score. Auto-pay ensures you never miss a bill and helps you maintain a strong payment history, which makes up 35% of your FICO credit score.
- Keep your credit utilization ratio under 30%: Credit utilization is the percentage of your available credit that you’re using. Keeping it below 30% (ideally closer to 10%) shows you’re not overly reliant on credit.
- Maintain a healthy mix of credit types: Having different types of credit, such as credit cards, auto loans, and installment loans, can positively impact your score. It signals to lenders that you can manage various forms of debt responsibly.
- Check your personal credit reports regularly: Reviewing your personal reports helps you catch issues, like errors, late payments, or signs of delinquency, that could be dragging down your personal score. You can do so for free at AnnualCreditReport.com.
Apply for the Ramp Business Credit Card—no credit check required
Ramp takes a different approach to approval than traditional business credit card providers. The Ramp Business Credit Card doesn’t require a personal credit check or personal guarantee for approval. Instead, Ramp looks at factors like your revenue and cash on hand.
That means you can access the funding you need without risking your personal assets or credit score. On top of that, Ramp offers credit limits up to 30x higher than traditional business credit cards and gives you access to over $350,000 in partner rewards and perks.
Coupled with Ramp’s built-in spend controls and intelligent expense management automation software, customers save an average of 5% a year across all spending. Try our savings calculator and see how much your business could save with Ramp.
FAQs
Secured business credit cards are available to those with bad credit, as they require a security deposit that doubles as your line of credit. Corporate cards may be an option as well if your company has a strong revenue stream and sufficient bank balances.
A business credit card can affect your personal credit score if the issuer reports activity to consumer credit bureaus. This is common with most small business cards, especially if you personally guarantee the account. Responsible card use can help your score, but missed payments or high balances may hurt it.
Your business can have good credit even if your personal credit is bad. Business credit is evaluated based on the financial performance of your business, not your personal finances. However, if your business is a sole proprietorship or a partnership, your personal credit may be considered to some extent.
Here are quick tips to obtain your business credit score from the major business credit bureaus:
- Dun & Bradstreet (D&B): The D&B website offers businesses a free basic report that provides limited access to four key scores
- Experian: Businesses can buy a one-time Experian CreditScore report for around $50
- Equifax: Call 1-888-407-0359 to get a copy of your Equifax business credit score. You can also try requesting a copy via email at [email protected]
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