If you have bad credit, business credit card options may seem limited if not zero. This is frustrating because a business credit card is invaluable for tracking and controlling expenses, and of course meeting unforeseen business costs. This makes a business credit card a good tool for financial control so it is ironic that bad credit prevents you from getting one. Or does it?

If you have bad credit, a business credit card is not impossible to get. It’s just a little harder. After all, it’s natural that banks and other financial institutions prefer to make it an easy process for “safe bets” – for people with perfect credit scores. At the same time, they are realists and with a little thinking outside the box, and despite bad credit, you can get a business credit card too.

So how can you get a business credit card if you have bad credit?

First of all, don’t overestimate the significance of bad credit in the credit card approval process. First of all, it will deter you from exploring all your options. Secondly, whether issuing for personal or business use, bad credit is just one of several factors considered by credit card companies. Positive factors such as the amount and reliability of your income, property ownership and a low or zero debt position – few other creditors – count too in determining risk. Remember, banks and credit card companies want to make money – they will accept a certain level of risk and provide a corresponding credit limit. However, it is not the credit card issuer’s responsibility to prove you are a low-risk applicant. It is up to you to gather and present information that will offset bad credit in your application for a business credit card.

Secondly, research your options. The good news is that there are personal and business credit cards targeted at or open to applicants with poor or bad credit. The bad news is that the internet is cluttered with sites promoting credit cards for people with bad credit. This is because credit card companies pay for leads and/or commissions for successful applicants. As a result, many websites work hard at promoting bad credit credit card companies but fall short in terms of providing useful information. Be patient, browse through the sites and identify which credit card companies appear most often. On the one hand, they will be the credit cards paying well for leads. On the other, the fact that they do this suggests they are interested in applicants with poor or bad personal or business credit.

Thirdly, limit the number of applications you make. Do not use the “apply now!” buttons readily available on websites or apply direct to all the credit card companies on your list. Each application you make to a credit card company is logged and considered in the approval process. A large number of applications indicates a large number of applications denied. Credit card companies cannot be certain that all information is available to them and may be concerned that critical information is lacking and in the interests of risk-avoidance deny your application.

Finally, consider applying for a business credit card at the bank where you have your business account. Your relationship with your bank may have deteriorated because of the situation that caused you to have a bad credit score or you may be reluctant to make an application that brings it to the fore. However, talking face-to-face with your business bank manager is also an opportunity to explore options. You may find that they are more open and flexible than expected and, despite bad credit, able to provide you with a business credit card.

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