Credit Cards

What Banks Offer Secured Business Credit Card?

By David Krug David Krug is the CEO & President of Bankovia. He's a lifelong expat who has lived in the Philippines, Mexico, Thailand, and Colombia. When he's not reading about cryptocurrencies, he's researching the latest personal finance software. 3 minute read

There are few secured credit cards that provide rewards and travel benefits, but the BBVA Secured Visa Business Credit Card is one of them. For many new firms, establishing credit is a difficult undertaking. However, the BBVA Secured Visa Business Credit Card helps ease this arduous effort. Your credit limit is determined by the security deposit you make with your BBVA savings account when applying for this secured credit card.

The BBVA Secured Visa Business Credit Card comes with certain useful travel and purchasing bonuses and rewards on qualifying transactions, whereas many other secured credit cards don’t. In the meanwhile, here’s a deeper look at the BBVA business credit card.

Is the BBVA Secured Visa Business Credit Card a good fit for you?

Owners of small businesses looking to establish credit might benefit from the BBVA Secured Visa Business Credit Card. Credit bureaus see your payment history when you use a secured card to make purchases and pay them off on time. Eventually, your credit will improve, allowing you and your organization to take advantage of additional chances.

To earn rewards on company purchases, the BBVA Secured Visa Business Credit Card may be a good option for business owners. Using your BBVA Secured business card to make eligible purchases gets you 1.5 times the points of regular purchases. The BBVA Secured Visa Business Card is unique in that it offers incentives, which is not common for secured credit cards.

Your business may be better off with a different card if it already has a credit history. The finest business credit cards reward you with bonus points for purchases that are relevant to your company’s operations and provide a wide range of travel and other benefits.

Benefits and perks

  • Annual price. The BBVA Secured Visa Business card has a $40 annual charge, which is significantly lower than many other business rewards credit cards (waived the first year).
  • Employee cards can be added for free to your account.
  • In the event that a former employee misuses a Visa credit or debit card, Visa will reimburse you up to $100,000.
  • When you use your BBVA Secured Business card to pay for a rental automobile, you’re insured for accident, damage, and loss.
  • Access to travel and emergency help and up to $500,000 in travel accident insurance with your BBVA business card is an excellent bonus.

Drawbacks

  • Customers in seven states can apply for the BBVA Secured Visa Business card; the card is only available to those who live in certain states.
  • Having a bank account is necessary: A BBVA savings account must be opened (and kept open) as collateral for the credit card before you may be approved for this BBVA business card. A $500 deposit is required to create an account, and further deposits of $100 can be made at any time.
  • A face-to-face interview: In order to apply for this credit card, you must go to a BBVA bank in person.

Maximizing your redemptions

The only two ways to redeem BBVA Rewards points are cash and gift cards. With eligible retailers, you may redeem your points for statement credits or gift cards in exchange for your loyalty points. Both redemption methods require a minimum of 2,500 points in order to complete a transaction.

For those who prefer to redeem their BBVA points online or using their mobile banking app, there is an alternative. In order to redeem your points, you can call the BBVA Rewards redemption office at 844-285-8383. It’s vital to keep in mind that BBVA points might expire if they aren’t utilized in a year. The expiration date of rewards points is 36 months after the accrual of points.

For the BBVA Secured Visa Business Credit Card, what is the minimum credit score required?

Credit score criteria for the BBVA Secured Visa Business Credit Card are lower than those for an unsecured business credit card because it is a secured card. If you have a low credit score, you may be able to receive this card. Both the FICO and Vantage scoring algorithms set a low threshold of 300 for those with bad credit.

Is the BBVA Secured Visa Business Credit Card available to anyone?

You can only get the BBVA Secured Visa Business card if you’re in one of these six states: Alabama. In order to use this card, you must also have a BBVA savings account, which serves as both a security deposit and a credit line. The savings account’s minimum deposit is $500.

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