Instant Approval Business Credit Cards: How To Get Approved Fast

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When you start your business, it’s important that you have access to the capital you need. For many businesses, a credit card is a perfect tool to help them grow their business while earning special benefits offered by the card issuer.

Whether you have a last minute purchase to make or want to take advantage of the generous sign-up bonus of a credit card, you often want to start using it as soon as possible. This is where instant approval business credit cards can come in handy.

An instant approval business credit card is a card that lets you quickly decide whether or not you’ve been approved. Often times, these cards can tell you within 60 seconds of the end of the application if you have been approved.

When you qualify for this type of card, it means that the card issuer does not need to dig deep into your financial situation to see if you are a good candidate. Instant approval card issuers often issue pre-approval offers to qualified borrowers to help increase the chances of instant approval.

How to get a business credit card approved quickly

Instant approval of a credit card is more likely for people who have a credit score of at least 690, but for some cards the minimum score is even higher.

Before you apply for an instant approved credit card, perform a credit check to see if there is anything on your credit report or credit score that could prevent you from qualifying. Examples can be a bad credit score or missed credit card payments on your credit report.

Next, make sure there is no freezing of your personal or business credit report. Many borrowers block their credit to prevent fraud, but this will also prevent credit card approval. You will need to lift the freeze before you apply for a business credit card.

Finally, consider researching a pre-approval tool or offer to see your chances of getting approved. Pre-approval isn’t a perfect science, but if you’re able to qualify for a pre-approval offer, you might have a good chance of getting approved for the card itself.

The best business credit cards with instant approval

Fortunately, there are many instant approval business credit cards on the market for business owners who need capital immediately. Here are some of the best in September 2021:

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American Express

The conditions apply to American Express benefits and offers. Registration may be required for certain American Express benefits and offers. Visit americanexpress.com to learn more.

The American Express Blue Business Cash ™ card is one of the best business credit cards on the market and claims you will get an approval decision in just 30 seconds.

This card offers a $ 250 credit when you spend $ 3,000 in the first three months. The card also comes with an introductory 0% APR for your first year (the APR is between 13.24% and 19.24% after 12 months). And in addition to enrollment benefits, the card still offers 2% cash back on qualifying purchases up to $ 50,000, and 1% cash back thereafter.

Advantages:

  • Launch APR of 0% the first year (between 13.24% and 19.24% thereafter)

  • Increased purchasing power to spend over your credit limit

  • Generous welcome bonus and ongoing rewards

The inconvenients:

  • 2% Cash Back Reward Spending Cap

  • Foreign transaction fees (see Prices and fees)

For American Express Blue Business Cash rates and charges Menu, Click here.

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A capital letter

For borrowers with excellent credit, the Capital One Spark Cash Select card offers instant approval and great rewards. The website promises an approval decision in seconds.

When you sign up for the Spark Cash Plus card, you get a $ 500 cash bonus when you spend $ 4,500 in the first three months of the card membership. You’ll also get an introductory 0% APR for purchases in the first year (the APR is 13.24%, 16.24%, or 19.24% after 12 months). Finally, you’ll get 1.5% cash back on all your purchases – there are no category restrictions or spending limits.

Advantages:

  • 0% introductory APR for the first year (13.24%, 16.24% or 19.24% thereafter)

  • Generous welcome bonus and ongoing rewards

  • No spending limits or category restrictions on rewards

The inconvenients:

  • Foreign transaction fees (see Prices and fees)

  • Requires excellent credit

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chase away

The Chase Ink Business Unlimited® credit card is another one that you can be approved for in seconds if you meet the requirements.

The Ink Business Unlimited card offers a sign up bonus of $ 750 when you spend $ 7,500 in the first three months. You will also benefit from an introductory APR of 0% for the first year (the APR is between 13.24% and 19.24% after 12 months). As for rewards, the card offers 1.5% unlimited cashback on your business purchases, regardless of the category of spending. Finally, you’ll get business features like the ability to monitor and protect your business, plus additional employee cards at no additional cost.

Advantages:

  • Launch APR of 0% the first year (between 13.24% and 19.24% thereafter)

  • Generous welcome bonus and ongoing rewards

  • No spending limits or category restrictions on rewards

The inconvenients:

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Wells fargo

For borrowers with poor credit, the Wells Fargo Business Secured Credit Card might be the right instant approved card.

When you sign up for the Wells Fargo Card, you can have a business line of credit from $ 500 to $ 25,000. Unlike a regular credit card, the limit on your card is guaranteed by the money you deposit as collateral. You can either earn 1.5% cash back on qualifying purchases or earn 1 point for every $ 1 you spend when you spend at least $ 1,000 in each bill cycle.

Advantages:

  • Available for borrowers with poor credit

  • The choice between cash back or reward point options

  • No foreign transaction fees

The inconvenients:

The bottom line

An instant approval business credit card is a great choice for business owners who need access to short-term capital. When you sign up for this type of card, you can usually know within a minute if you’ve been approved and you might be able to start spending right away. But with so many instant approval business cards out there, it’s important to do your research to find the right one for you.

Faq

What is an instant approval business credit card?

An instant approval business credit card is a card that lets you know almost immediately after applying if you’ve been approved. These cards are best suited for borrowers with good or excellent credit because they present the least risk to the card issuer.

What are the best instant approved business credit cards?

There are many instant approval business credit cards on the market, but some of our favorites include American Express Blue Business Cash, Capital One Spark Cash Select for Business, Chase Ink Business Unlimited, and Wells Fargo Business Secured Credit Card.

When can I start using an Instant Approval business credit card?

In many cases, card issuers allow you to use a credit card before it arrives in the mail with a virtual account number. You will also be able to add your credit card to your digital wallet for use before the physical card arrives. In other cases, an issuer may ask you to wait until you have received and activated your new card.

Are there instant approval business cards for bad credit?

Borrowers with bad credit may find it more difficult to qualify for a typical instant approval business credit card. A secured credit card may be the best choice if you have bad credit. Since these cards pose less risk to the issuer, they may be more likely to offer instant approval.


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