A gas credit card looks like it could really help out your business, between the cashback rewards and other perks. But it turns out you have a low credit score or no credit.
The unfortunate reality is that even the best easy approval business gas cards require at least a fair credit score, and most business gas cards require an excellent one. But don't worry. You still have options.
Below are some cards you can use at the gas pump that can help you build credit. From business cards made to help to build credit to a gas station card option to even secured cards, below are the five top options for getting help filling the tank while you fix your credit score. And as you build your credit, that can mean one of the best easy approval business gas cards in the future.
Capital One Spark 1% Classic
A business card that helps you build credit
The main perk of the Capital One Spark 1% Classic is that it allows you to earn 1% cashback for your business purchases. There are no limits and no category restrictions. So while this isn't specifically a gas card, you could use it while filling up your business vehicles. 1% cashback can really add up if you do a high amount of driving for work or have a fleet of vehicles.
On top of that, it accepts people with a fair credit rating, meaning people who have defaulted on a loan in the past five years or have limited credit history may be able to get approved.
Another massive perk is the $0 annual fee to help you build your credit as you earn rewards. The card comes with a 26.99% variable APR.
- A rare business card that still accepts fair and limited credit
- $0 fraud liability
- You can set up account managers and download purchase records
- Not specifically a gas card
- While the 1% cashback is nice, rewards on the card are a bit limited compared to cards for people with better credit.
Platinum Visa through Credit One
Helps you rebuild credit on everyday purchases
The Platinum Visa through Credit One Bank was made with people who need to rebuild credit in mind. The fact is, if you want even the best easy approval business gas cards, you'll need decent credit. But the Platinum Visa was made for everyday purchases so that you can use it as a gas card at the pumps.
This is another card that also gets you 1% cashback rewards, allowing you to save money while you build your credit. As you use your card, this bank also regularly reviews your line of credit and notifies you when you are able to apply for higher lines of credit. There are also flexible payment dates.
This card does come with a $75 first-year annual fee and then has a $99 annual fee after the first year. There is also a 23.99% variable rate APR.
- Made with building credit in mind
- Free access to your Experian credit score
- Get up to 10% cashback from new offers and participating merchants
- Not built for business rewards
- Not a gas card specifically
- Annual fee rates can cut into cashback savings
Shell Small Business Card
Gas card that may accept with fair credit
If you're looking for a gas card specifically, you might try applying to the Shell Small Business Card. If you have fair credit, you might stand a chance of getting approved for it, but there are no guarantees. Shell does not list a minimum credit score at the time of writing.
If you do get approved, this gas card is set up with business fueling needs in mind. This allows you to set limits on who uses that card, how much they charge to it and when they use it. This can help you have better control over who is filling company vehicles when. It's good at over 14 000 Shell stations and some Jiffy Lube locations.
You can earn rebates through this card of up to 6 cents per gallon. There are also discounts available through certain Jiffy Lube locations. Unfortunately, the Shell site does not list if there are annual fees or the APR. The company wants you to contact it for more information.
- It helps you control how your employees fuel your tanks
- Gives rewards on fueling your vehicles
- Shell and Jiffy Lube stations are easy to find in most locations
- Getting approved can still be tricky and likely impossible for those with poor credit: you'll have to try to see if you get approved with fair credit.
- Limits you to two types of gas stations, which some people might find too restrictive
Wells Fargo Business Secured Card
Business secured card that helps you build credit
You might be wondering what to do if you have basically no credit but still want a business card. That's actually what secured credit cards were made for. Businesses with little to no credit history can apply to them. These operate by giving you lines of credit at varying amounts, such as between $500 and $25 000.
One such card is the Wells Fargo Business Secured Credit Card, which allows 1.5% cashback on qualifying purchases and a points rewards option for 1 point for every $1 you spend. Even better, it comes with no annual fee.
You can also get up to 10 employee cards, view spending reports online, and there are no foreign transaction fees. While not a gas card, this is another option that can help you purchase gas for business needs, and it can help you build credit so that you are on your way to the best easy approval business gas cards.
- A great option for people with no to low credit
- It helps you build the needed credit for one of the best easy approval business gas cards down the line
- No annual fee
- Still not a gas card, if you're looking for that specifically
- Interest rates can be quite high: lists interests rates as prime + 11.90% for purchases and prime + 20.74% on cash advances
Discover it Secured Card
Helps build credit history with no annual fee
This is another secured line of credit option for those with no to low credit. The Discover it Secured Card also has no annual fee and was made for those who still need to build their credit. The card reports your credit history to all three major credit bureaus.
With this card, the line of credit matches your deposit amount, which starts at $200. That deposit is refundable. After eight months, the financial institution begins automatic monthly assessments of your account to see if you are now qualified for a standard unsecured card.
If you're looking for a gas card, what makes the Discover it Secured Card stand out is that it offers 2% cashback at gas stations and restaurants on up to $1,000 combined purchases each quarter. There is also 1% cashback on your purchases automatically, and a two times cash back match at the end of your first year.
- It can be used as a makeshift gas card since it offers extra cashback at gas stations
- Made for people who are new to credit or looking to rebuild it, taking much of the stress out of the approval process
- Rewards are good for a card that does not require fair to excellent credit
- Not a business card and doesn't offer business rewards
- You can get your deposit back, but it's when you "graduate" to an unsecured card
How did we choose these business gas cards?
The first consideration was whether you could possibly secure the card with at least fair credit, though ideally low to no credit.
We also looked at how the card performed if you used it to pay for gas. Ideally, it should have given you some type of cashback or other rewards/discounts for purchases.
Another consideration was if the card was a business card or not. That was a difficult category, since most business cards want good credit, even for the best easy approval business gas cards. A financial institution isn't going to want someone with poor or no credit using their card to fill company fleet vehicles with reckless abandon. Financially, you have to prove yourself first. For that reason, some cards that made the list are not business cards but were chosen because you can use them at the pump, gain cash back and build credit so that you're on your way to the best easy approval business gas cards.
Which gas card is right for your business?
Below are some situations that can help you determine which card is right for your purchases.
- The size of your business: If you have many employees, some of which are filling up your company's gas tank, you might want to look at the Shell card, Wells Fargo business card or Capital One Spark. These cards were made with business owners in mind and you can get cards that employees can use. If you run a small-scale sole proprietorship, you can get away with a credit card that also works for individuals, like the Platinum Visa through Credit One.
- How much gas your business uses: If you use a ton of gas, you might also want to look into the card with the highest cashback, namely the Discover it card, which offers a 2% cashback.
- The actual state of your credit: If you have little to no credit, or your credit is in a bad place after some financial setbacks, look into the secured cards to help you build your credit back up. If you're in a position where your credit is fair, you might look into seeing if you can get the Shell card.
- How important rewards are: If you have poor credit, rewards on the cards you can get tend to be modest. However, if you value rewards, look for the card with the most rewards, especially secured credit cards like Discover it.
What is the difference between a regular credit card and a secured credit card?
A secured credit card usually has some type of security deposit to access the line credit. This security deposit is usually refundable. These cards also are for people who are building credit, so acceptance is not stringent. As you build credit through the secured card, eventually, you may become approved for a regular credit card if you use the card responsibly.
Do I strictly need to use a business credit card for my business?
You are able to use personal credit cards for business expenses. Business credit cards are merely cards that have different perks and levels of organization for business uses. A business card might allow you to give extra cards out for employee use, more easily download expense reports or offer cashback on specific business purchases.
What's the difference between a gas card and a regular credit card?
Gas credit cards typically offer higher cashback amounts for gas purchases. That can be a great point of savings, especially for businesses that use a lot of gas or for when gas prices get higher. For that reason, gas cards are a great option for businesses.
But it would help if you had good credit to get them, which is where secured cards or cards with less stringent approval can be a good stepping stone to getting one of the best easy approval business gas cards.
Are there alternatives worth considering?
You don't have to get a credit card right away or if you don't want one. Some people are distrustful of credit or might want to hold off until they are in a financial place to make the regular payments on a credit card. You have a couple of options if you don't want a gas credit card yet or you decide one isn't right for you for whatever reason.
One option is using debit cards that have reward point options. That way, you avoid the mess of a credit check since debit cards are linked right to checking accounts. Some debit cards also help you rack up rewards points with purchases, but you often have to scan that card as a credit card at the point of purchase to make sure that the points hit the card. Points can often be redeemed for cash or purchases at certain stores.
Instead of looking into credit cards, you might also think about getting a line of credit. You can apply for a line of credit so that you have a set amount of cash to draw from as you need it. You do pay interest on the money you draw from the line of credit, and that credit is paid back monthly or weekly. If you managed it well, it could even help your credit score, allowing you to get one of the best easy approval business gas cards in the future.
Just be aware that getting a line of credit may also require a good credit score, depending on the lender. However, you might be able to secure a line of credit with a lower amount and higher interest rates if you really need the cash on hand.