Best Secured Credit Cards for Business July 2022 – Forbes Advisor

With rewards and $0 annual fee, the Bank of America® Business Advantage Unlimited Cash Rewards Secure Credit Card* offers remarkable additional benefits, including the ability to gradually switch to an unsecured version of the card with good payment behavior for all your credit card and loan products.

Awards: 1.5% cash back on all purchases

Annual fees: $0

Range of secure deposit: $1,000 to $10,000

Other advantages and disadvantages: The Bank of America Business Advantage Unlimited Cash Rewards Secure Card requires a minimum security deposit of $1,000, so its usefulness for smaller businesses in the early stages of infancy may be limited, but its practical benefits include automatic payments. and the ability to download transactions directly into Quickbooks, so it’s well-designed for small business owners looking for financial management tools.

With $100,000 travel accident insurance, car rental collision damage waiver, emergency ticket replacement, lost baggage assistance, and legal and medical referrals while you’re away from home, plus purchase and extended warranty protections and $0 fraud liability, the card’s benefits may not rival those of a major unsecured travel card, but they leave almost all other cards secured on the tarmac in a wake turbulence storm.