With secured cards, approval depends mainly on your ability to fund the deposit, not on time in business, revenue, or a clean track record. But there are some things to know before you click apply.
Any card application will trigger a hard inquiry, which can cause a small, temporary dip in your personal credit score. You’ll need an employer identification number (EIN), too, if your business has one, or your Social Security number if you’re applying as a sole proprietorship.
Issuers also typically ask for basic business details — legal name, structure, industry, and estimated annual revenue — even if that revenue figure doesn’t affect their approval decision.
Finally, most secured business card also requires a personal guarantee, meaning you’re personally on the hook for the balance if the business can’t pay, on top of the deposit itself.