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The 4 best instant-approval business credit cards: Quick approval
When you're getting your business up and running, it's important that you have access to the capital that you need. For many companies, the top business credit cards are perfect tools to help build their business while earning special perks that the card issuer offers.
Whether you have a last-minute purchase you need to make or want to take advantage of a credit card's generous sign-up bonus, you often want to start using it as soon as possible. That's where instant-approval business credit cards can be helpful.
An instant-approval business credit card is one that quickly provides a decision as to whether you've been approved or not. Often, these cards can tell you within 60 seconds of completing the application if you've been approved.
When you qualify for this type of card, it means the card issuer doesn't need to dig further into your financial situation to see if you're a good candidate. Instant-approval card issuers often issue preapproval offers to qualified borrowers to help increase the chances of instant approval.
How to get quickly approved for a business credit card
Instant credit card approval is most likely for people who have a credit score of at least 690 -- but for some cards, the minimum score is even higher.
Before applying for an instant-approval credit card, run a credit check to see if there's anything in your credit report or credit score that may prevent you from qualifying. Examples might be a poor credit score or missed credit card payments on your credit report.
Next, be sure there's no freeze on your personal or business credit report. Many borrowers place freezes on their credit to prevent fraud, but this will also prevent credit card approval. You'll have to lift a freeze before applying for a business credit card.
Finally, consider looking for a pre-approval tool or offer to see your chances of being approved. Pre-approval isn't a perfect science, but if you're able to qualify for a pre-approval offer, then you may have a good chance of being approved for the card itself.
The best instant-approval credit cards
Luckily, there are plenty of instant-approval business credit cards on the market for business owners who need capital right away. Below are a few of the best:
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- 1% cash back on all eligible purchases after spending $50,000 per calendar year.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- 1% cash back on all eligible purchases after spending $50,000 per calendar year.
The American Express Blue Business Cash™ Card is one of the top business credit cards on the market and claims you'll get an approval decision in as few as 30 seconds.
This card offers a $250 statement credit when you spend $3,000 in the first three months. The card also comes with a 0% introductory APR on purchases for your first year (then 18.24% and 26.24%, variable). And in addition to the new cardholder perks, the card always offers 2% cashback on eligible purchases up to $50,000, and 1% cashback after that.
Pros:
0% introductory APR for the first year (between 18.24% and 26.24% variable afterward)
Expanded Buying Power to spend above your credit limit
Generous welcome bonus and ongoing rewards
Cons:
Spending cap on 2% cashback reward
Foreign transaction fees
American Express Blue Business Cash™ Card
- Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel
- Earn unlimited 1.5% cash back for your business on every purchase, everywhere — with no limits or category restrictions
- Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel
- Earn unlimited 1.5% cash back for your business on every purchase, everywhere — with no limits or category restrictions
For borrowers with excellent credit, the Capital One Spark Cash Select card offers instant approval and excellent rewards. The website promises an approval decision in just seconds.
When you sign up for the Spark Cash Plus card, you'll get a $500 cash bonus when you spend $4,500 in the first three months of card membership. You'll also get 1.5% cashback on all purchases — there are no category restrictions or spending limits.
Pros:
Generous welcome bonus and ongoing rewards
No spending limit or category restrictions on rewards
Cons:
Foreign transaction fees
Requires excellent credit
Capital One Spark Cash Select for Excellent Credit
- Earn unlimited 1.5% cash back on every purchase made for your business
- Earn unlimited 1.5% cash back on every purchase made for your business
The Chase Ink Business Unlimited® credit card is another that you can be approved for in a matter of seconds if you meet the qualifications.
The Ink Business Unlimited card offers a sign-up bonus of $750 when you spend $6,000 in the first three months. You'll also enjoy a 0% introductory APR for the first year (the APR is between 17.99% and 23.99% after 12 months). As for rewards, the card offers 1.5% unlimited cashback on your business purchases, regardless of spending category. Finally, you'll get business features such as the ability to monitor and protect your business, as well as added employee cards at no additional cost.
Pros:
0% introductory APR for the first year (between 17.99% and 23.99% afterward)
Generous welcome bonus and ongoing rewards
No spending limit or category restrictions on rewards
Cons:
Foreign transaction fees
Chase Ink Business Unlimited® Credit Card
Wells Fargo Business Secured Credit Card
For borrowers with poor credit, the Wells Fargo Business Secured Credit Card might be the right instant-approval card.
When you sign up for Wells Fargo's card, you can have a business credit line of $500 to $25,000. Unlike a typical credit card, your card limit is secured by money you deposit as collateral. You can either earn 1.5% cashback on qualifying purchases or earn 1 point for each $1 you spend when you spend at least $1,000 each billing cycle.
Pros:
Available to borrowers with poor credit
The choice between cashback or rewards points options
No foreign transaction fee
Cons:
Requires collateral equal to the credit line
No sign-up bonus or 0% introductory APR
Bottom line
An instant-approval business credit card is an excellent choice for business owners who need access to capital on short notice. When you sign up for this type of card, you can usually find out within a minute if you've been approved, and you may be able to start spending right away. But with so many instant-approval business cards on the market, it's important to do your research to find the right one for you.
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 may also be able to add your credit card to your digital wallet for use before the physical card has arrived. In other cases, an issuer may require you to wait until you've received and activated your new card.
Are there instant-approval business cards for bad credit?
Borrowers with bad credit may have a more difficult time qualifying for a typical instant-approved business credit card. A secured credit card may be the best bet if you have bad credit. Because these cards present less risk for the issuer, they may be more likely to offer instant approval.