Nav Prime Card Review: A Practical Tool for Building Business Credit

As a business owner, building credit is crucial—but it can be a bit of a challenge, especially if you’re just starting out. Traditional business credit cards often come with steep requirements like high credit scores, security deposits, or personal guarantees. Enter the Nav Prime Card: a charge card that lets you build your business credit with everyday purchases—no personal credit check required!

Join over 300K small businesses who have built business credit history with Nav Prime, and see how this innovative solution can work for you. I’ve been diving into the ins and outs of this card, and here’s my take on whether it’s a good fit for your business.

Looking for the perfect bank account for your business? Discover BlueVine and learn how you can earn a $300 cash bonus!

Key Takeaways

• The Nav Prime Card is designed for business owners looking to build credit without a credit check or personal guarantee.
• It reports two tradelines to credit bureaus, helping to build your business credit profile faster.
• There’s a monthly fee of $49.99, which might be pricey for some businesses.
• The card operates as a charge card, meaning you must pay your balance in full each month.

How the Nav Prime Card Works

The Nav Prime Card is a repayment charge card, which means you can’t carry a balance—a bank account has to be linked for automatic daily repayments. However, this is actually a good thing for building business credit responsibly. You’re making everyday business purchases, and each payment is reported as a tradeline to major credit bureaus. This helps you build a solid business credit history without the complications of traditional cards.

Another unique feature? No personal credit check is required for approval. So whether your business is new, or you’ve had trouble establishing credit in the past, this card might be an option for you. And if you’re already a Nav member, you’ll also have access to detailed credit reports, so you can track your business credit growth.

LEARN MORE ABOUT NAV PRIME CARD

Pros of the Nav Prime Card

1. No Personal Guarantee or Credit Check Required

One of the standout features of the Nav Prime Card is that it doesn’t require a personal guarantee or credit check. This makes it highly accessible to new business owners or those with limited business credit history.

2. Two Tradelines for Credit Building

Unlike many other cards, the Nav Prime Card reports two tradelines to credit bureaus: one for the card itself, and another for your $49.99 monthly membership fee. This dual reporting can speed up the process of building business credit.

3. Access to Credit Reports

Nav Prime members get access to detailed business and personal credit reports, a benefit that can cost hundreds of dollars per year if purchased separately. With these reports, you can closely monitor your credit-building efforts and see exactly where you stand.

4. Daily Repayments

Another convenient feature is the daily repayment option. You can set up automatic payments so that your balance is paid off daily, making it easier to stay on top of your expenses. This can help keep your finances in check and prevent debt from piling up.

Cons of the Nav Prime Card

1. Monthly Fee

The Nav Prime Card does come with a hefty price tag. While the membership gives you access to business and personal credit reports and offers two tradelines, the monthly cost can add up—especially if you’re a small business operating on a tight budget.

2. No Rewards or Perks

Unlike many other business cards, the Nav Prime Card doesn’t offer rewards, cash back, or travel perks. If you’re looking for a card that provides extra value in the form of rewards, this might not be the best choice.

3. Limited Credit Limit

The credit limit on the Nav Prime Card can be relatively low, depending on your business profile. If you’re planning to make larger purchases, you may find that the card doesn’t offer enough credit.

How the Nav Prime Card Compares to Other Business Credit Cards

When compared to other business credit cards, the Nav Prime Card stands out due to its unique features for credit building. It’s one of the few cards that allows you to build credit with everyday purchases while reporting two tradelines to credit bureaus. However, many other cards offer rewards and better perks, so it depends on your priorities.

If building credit is your top goal and you’re okay with the $49.99 monthly fee, the Nav Prime Card could be a good fit. But if you’re more focused on rewards or cash flow management, you might want to look into other options, like the Capital One Spark Classic for Business, which offers rewards and a $0 annual fee.

Our Take: Is the Nav Prime Card Worth It?

Ultimately, the Nav Prime Card is a solid tool for small-business owners who are focused on building their business credit. The fact that it reports two tradelines and gives you access to detailed credit reports makes it a valuable resource, especially for businesses with limited or poor credit history. However, the $49.99 monthly fee might be a deal-breaker for some, and the lack of rewards or perks might leave others wanting more.

If you’re serious about building your credit and don’t mind the fee, this card could help you achieve your goals faster. But if you’re looking for a card that offers more flexibility or rewards, it may not be the best fit for your business.

FIND MORE BUSINESS BANKING PROMOTIONS HERE

Banking Disclosure:

*Nav Technologies, Inc. is a financial technology company and not a bank. Banking services provided by Thread Bank, Member FDIC. The Nav Prime Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa cards are accepted. See Cardholder Terms for additional details. All other features of the Nav Prime membership are not associated with Thread Bank.

*To get the Nav Prime Card, you are required to be an active Nav Prime member, have an approved banking application, and have a successfully linked bank account to use as repayment for your Nav Prime Card. The Nav Prime Card is currently not available in ND, SD, NV, and CA.

*Individual results will vary. Scores are calculated from many variables; some users may not see improved scores.