Business Credit Cards Approval Chart (Based on Credit Score)

Knowing whether you are suitable for a business credit card greatly reduces the stress of applications. However, it can be difficult to know if you’re the right fit without having all the necessary information at your disposal.

Here’s your business credit cards approval chart based on credit scores that you can reference while you shop around for business credit cards.

The Business Credit Cards Approval Chart (Based on Credit Score)

Credit Card Issuer	Minimum Personal Credit Score
American Express	660
Bank of America	670
Capital One	580
Chase	670
Citi	700
U.S. Bank	670
Wells Fargo	670

Based on publicly available, stated credit score approval requirements

Notes:

• American Express Business Line of Credit requires a minimum FICO score of 660, with other sources suggesting 690 for cards
• Bank of America offers a secured business credit card that may accept lower scores than their standard 670 requirement
• Capital One has one card available for scores as low as 580, but their premium cards require excellent credit (740-800+)
• Citi appears to be the most stringent, with some cards requiring 740 or higher
• Most issuers recommend a "good credit" score of 670 or above No matter what your personal credit score might be, there’s a business credit card out there for you.

It can be hard to determine exactly what credit score you will need to get approved. This is due to a lack of transparency from card issuers as well as other factors that play a role in approval. That being said, we do have some insights.

The minimum credit score needed to qualify for American Express cards appears to be anywhere from 660-690.

They state a minimum FICO requirement for their Business Line of Credit as being as low as 660. This gives us an idea of how low they might go for card solutions. Other sources state that you need a score of at least 690. You likely need good credit to qualify.

Bank of America doesn’t state what its credit requirements are. External sources state you should have a credit score of at least 670. The only exception is their secured business credit card. Their secured credit card will likely accept those with much lower credit scores.

Capital One offers one card for those with credit scores as low as 580. Otherwise, you need excellent credit (800 or above, although some qualify excellent as 740+).

Chase isn’t transparent about credit score requirements. Their own guide on how to get business credit cards states that a FICO score of at least 670 is good enough to get a business credit card. This likely holds true for their own cards as well.

Citi cards appear to be much harder to qualify for. Some sources state you need a minimum score of 700. Some cards may require a score of 740 or greater.

U.S. Bank doesn’t offer much information in the way of credit score requirements. However, they do also have a blog recommending a good credit score (670+), which WalletHub recommends too.

Wells Fargo only has one business credit card available. It’s recommended you have a score of at least 670.

What Personal Credit Scores Are Needed to Get Approved for Business Credit Cards?

Most traditional business credit cards will require a FICO credit score of at least 670.

Why?

Having a good credit score demonstrates that you’re responsible enough to make timely payments, manage your credit solutions effectively, and ensure you’re not digging yourself into debt when you get a new credit card.

Card issuers want to make sure you can make monthly payments on your credit card. If you have a fair or poor score, it’s much harder to get approved for a card. You are deemed a higher risk and less likely to get the card you want.

It’s not impossible. There are cards designed for those with lower scores. One example would be a business credit card EIN only. However, most of the business credit cards available from traditional financial institutions are going to require a good to excellent credit score.

We’ll explore some of those alternatives further in this guide.

Other Business Credit Card Requirements

As stated above, specific credit scores don’t guarantee you’ll get approved. Approval is more nuanced than that.

A great credit score certainly won’t hurt your chances of approval. Card issuers are primarily looking at your scores. That said, business credit card issuers are looking at other factors when determining if they’ll approve you for their card, which play a role in their decision.

This includes factors such as:

• Business Revenue: You may be able to get a business card without business revenue. However, strong revenue is naturally going to help you qualify for a business credit card with less difficulty.
• Industry Risk: High-risk industries can have an extremely challenging time securing funding. If you operate in a high-risk industry, you may be turned away regardless of your credit score.
• Prior Credit Usage: Certain card issuers, like Chase, are rumored to use rules like the 5/24 rule. If you’ve acquired too many credit cards in a specific period of time, it may prevent you from getting approved for another. Personal credit history will play a role.

Always do your research to see what the requirements are for the business credit card you want. Individual card requirements may vary between lenders. Some cards might be dropped. Other business credit card applications might be closed for a time.

How Personal Credit Reporting Works for Business Credit Cards

Many business credit cards require you to have good to excellent personal credit. Many of them also report to consumer credit bureaus, whether it’s positive activity, negative activity, or both.

Generally speaking, the primary concern to have is falling behind on your card. When you become severely delinquent, it could get reported to any major personal credit bureau. Such a development could cause your personal score to plummet.

This then creates issues with your ability to secure financing, get an apartment, etc.

If you have a business credit card that reports positive activity, this can still have a major impact on your personal credit score.

An increase in credit that you can utilize might seem like a bonus. This is especially true if you’re making on-time or early payments to build positive credit history.

However, let’s imagine that you were to use up a large amount of your available credit limit. While that may not be a huge hit to your business credit, it could result in serious repercussions for your personal credit.

Credit utilization carries a lot of weight when calculating your FICO score. If you make the mistake of utilizing too much of your business credit, your personal credit score can pay the price.

All that said, does this matter for all small business cards? A surprising number of traditional card issuers report in some capacity.

Here’s a convenient table you can use when you’re looking into business credit cards.

Credit Card Issuer	Reports Positive Activity?	Reports Negative Activity?
American Express	No	Yes
Bank of America	No	No
Capital One	Yes (Not for Spark Cash Plus and Venture X Business Card)	Yes
Chase	No	Yes
Citi	No	No
Discover	Yes	Yes
U.S. Bank	No	Yes
Wells Fargo	No	No

Business Credit Requirements for Credit Cards

Business credit score requirements for credit cards generally aren’t discussed. This is because most traditional cards are focused primarily on your personal credit. Your business credit score might only be considered when you have enough built up.

Most EIN-only cards are focused on elements outside of just your business credit. However, if you are applying for a card evaluating business credit, you will need to prepare differently.

This is due to the fact that no two scores are going to be the same. For example, your D&B PAYDEX business credit score ranges from 0-100. A score on the higher end indicates that you’ve paid your vendor bills early, which can inspire confidence with credit issuers.

Then, you have scores like the Equifax Business Failure Risk Score. With a score range of 1000 to 1880, you want scores on the higher end as well. Scores on the lower end indicate you’re at risk of failure.

Understanding all of the scores, monitoring them, and making sure that you’re at the ideal score to appeal to credit card issuers can make a major difference in the application process (should a card issuer be considering your business credit scores).

You’ll also want to focus on making sure you have strong:

• Business revenue
• Required time in business
• Required business documentation
• Positive credit history
• Positive cash flow

If you’re discouraged by low scores, don’t worry; there are options.

What to Do If You Have Low Personal Credit Scores

Is your personal credit report holding you back? If you have low personal credit scores, you’ll need to use solutions designed around your needs.

One such example is offered by Capital One. Most of Capital One’s business credit cards require excellent credit. One business credit card that doesn’t is the Spark 1% Classic.

The Spark 1% Classic doesn’t offer the same higher rewards as other business card options. However, you still get 1% cash back on every purchase. You also get 5% cash back on cars and hotels booked through Capital One Business Travel.

Best of all, you’re also able to access it with a fair credit score.

Another great card for business owners is the FairFigure Capital Card. It’s perfect if you need a business credit card no personal credit check. We’ll cover that in greater detail in the next section!

There are other things that can be done if you have a low personal credit score and poor payment history. Seeking out alternatives like corporate card solutions, fleet cards, and other cards are other options.

You can make it easier to get the financing your small business needs by:

• Improving Your Personal Credit: Fixing your personal credit will make it easier to get business credit cards. Look for errors in your credit profile, pay off existing debt, and take care to utilize less credit and avoid overextending yourself in the future.
• Building Business Credit: Business credit may help you circumvent a personal credit check. You can build business credit starting with vendors. Then, get business credit cards, attainable business loans, and other financing that reports transactions.
• Seeking Other Forms of Financing: Speaking of financing, don’t limit yourself to business credit cards. Alternative credit types include merchant cash advances, invoice financing, and equipment financing.

Apply to the FairFigure Capital Card

The FairFigure Capital Card is a top choice when you aren’t able to leverage personal credit.

Unlike the other business credit card options on this list, you won’t need a personal credit score to qualify for the FairFigure Capital Card. The FairFigure Card is EIN-only. There’s no personal guarantee, no personal credit check, no deposit, and no paperwork.

This card is revenue-based. So long as you have at least three months in business and $2,500 in monthly revenue, you can get the funding you need to bolster your operations.

The benefits don’t stop there, however. You also get:

• Flexible payback terms of 4 to 8 weeks.
• Two tradelines with this business credit builder card that help you build credit faster. Both are reported to the SBFE, Equifax, Experian, and Creditsafe. While not a business credit bureau, it also gets reported to the FairFigure Foundation Report.
• Additional savings on eligible vendor purchases.

Skip the hassle of trying to get the right business credit card. Sign up for FairFigure today!