What are Secured Business Credit Cards?
Secured business credit cards are basically regular credit cards that are secured by a savings account opened with the bank offering the credit. This account always has a minimum deposit, rarely lower than a few hundred dollars and as high as a few thousand dollars. This deposit is based on the amount of credit you will be extended, and it can be anywhere from 50 to 100 percent of the minimum deposit in the account. The money in this savings account is not used for your purchases, and other than being secured by the money placed there, the credit card works just like any other credit card. Build Business Credit with Secured Business Credit Cards Secured business credit cards are an excellent way to build business credit if you do not qualify for or are otherwise unable to obtain unsecured business credit for your business. For example, a business with a poor credit rating will be more likely to be able to obtain a secured credit card than an unsecured one. As long as you pay your bills
