Instant Approval Business Credit Cards: How to Get One Fast

What Are Instant Approval Business Credit Cards?

Instant approval business credit cards allow companies to get an almost immediate decision on approval for a card. The process is fast and convenient compared to traditional credit card applications that can take weeks for an answer.

These credit cards are designed for small businesses and provide quick access to capital for expenses. Approval can come in under a minute while you wait online.

Cards provide pre-set credit limits from $500 up to $25,000 or more depending on the card and your business profile.
There are few documents required to apply and you don’t need a lengthy credit history. Some cards will consider your personal credit score though.

With a little research, instant approval business credit cards can provide fast, convenient access to extra working capital when you need it. They make getting a card easy so you can focus more on running your company.

Benefits of Getting an Instant Approval Business Credit Card

Getting an instant approval business credit card offers several key benefits for your company:

1. Fast access to funds

With an instant approval card, you can access a line of credit for your business right away instead of waiting weeks for a decision. This allows you to jump on opportunities or cover expenses when needed.

2. Flexibility

Business credit cards tend to offer higher credit limits and lower interest rates than personal cards. This gives you more flexibility in how much you can spend month-to-month.

3. Rewards

Many business cards offer robust rewards programs with perks like cash back, travel points, or merchandise credits. These can help you save money on future business purchases and expenses.

4. Separation from personal finances

Having a dedicated business credit card keeps your business and personal finances separate. This improves transparency in your record keeping and accounting.

5. Building business credit history

Using a business credit card responsibly helps establish a positive credit profile for your company. This can make it easier to secure loans, lines of credit, and other financing in the future.

When applying, make sure to only apply for an amount of credit your business can comfortably handle. Pay off balances promptly each month.

Follow these responsible practices, and an instant approval business card can be an invaluable asset for managing expenses and unlocking growth opportunities when you need them.

Requirements to Qualify for Instant Approval

Getting instant approval for a business credit card can save you time and hassle. Here’s what issuers generally look for:

1. Established business

Lenders want to see you’ve been operating for at least 2 years. This shows you are stable and able to manage debt responsibly.

2. Good personal credit:

Even if it’s a business card, they will check your personal credit score.Aim for a score of 680 or higher.

3. Annual revenue

Proof your business generates at least $100,000 in annual sales. Two years of tax returns usually suffice.

4. No history of bankruptcy

Personal or business bankruptcy filings can disqualify you.

5. Industry matters

Some industries have more difficulty securing credit based on risk factors. Construction and restaurants tend to have lower approval odds.

In addition to meeting these baseline requirements, you can better your chances by:

Maintaining low credit card balances
Keeping business debt levels less than 10% of revenue
Having a clean record with vendors (no late payments)
Building long-term relationships with vendors and creditors

Meeting most or all qualifications doesn’t guarantee instant approval, but should help fast track your application. Be ready to supply tax IDs, business licenses, bank statements, and other validating paperwork. Securing a card quickly allows you to fund inventory, equipment, marketing and other startup needs on reliable credit terms.

Top 5 Instant Approval Business Credit Cards

When you need access to extra funds fast for your business, an instant approval business credit card can be a good option. Here are 5 top picks:

1. Wells Fargo Business Platinum Card

This card is easy to qualify for as long as your business is well-established, with no preset spending limit. Plus you’ll enjoy 0% intro APR on purchases for 15 months (then 16.49% – 22.49% Variable APR).

2. Capital One Spark Cash Plus

Ideal for earning unlimited 2% cash back on all purchases. New cardholders can earn a $500 cash bonus once $4,500 is spent in the first 3 months.

3. Ink Business Cash Credit Card

Earn 5% cash back on the first $25,000 spent at office supply stores and on internet, cable and phone services each account anniversary year. Enjoy 0% intro APR for 12 months too.

4. Bank of America Business Advantage Customized Cash Rewards Mastercard –

Tailor 3% cash back categories to match your business’s common expenses. $300 statement credit offered after $3K spent in 90 days.

5. Blue Business Plus Credit Card from American Express –

Score 2x points on everyday business expenses up to $50,000 per year, then 1x points after that. 0% intro APR for 12 months on purchases.

When applying for any of these cards, you’ll generally get an approval decision within 60 seconds. Just make sure your business meets the issuers’ qualifications. Checking your credit score and report for errors beforehand is also wise.

With one of these handy cards in your wallet, you’ll have access to extra operating funds or be earning great rewards on your daily business purchases in no time!

How to Apply and Get Approved Fast

Here are some tips to get instant approval and have that new line of credit in hand fast:

Do your research ahead of time. Compare popular business credit cards in your industry to find one that matches your expected expenses. Check that you meet all the basic eligibility criteria before applying.

Have all your business documentation ready. Lenders will ask for items like your Employer Identification Number (EIN), business license, official registration documents, and financial statements.

Check your personal and business credit scores. Building up scores above 700 can help guarantee instant approval. Pay down debts and correct any errors on your credit reports first.

Consider getting a cosigner if your credit or business history is limited. Adding an authorized user with good credit can improve the odds of getting approved quickly.

Apply for the right card. Opt for a card that is suited to early-stage businesses if your company is less than 2 years old. Avoid premium cards with high credit requirements.

Provide accurate information on the application. Double check all details and numbers before submitting. Correctness helps prevent delays verifying info.

Call to check application status if you don’t hear back right away. Speaking with a representative can help move an application along.

Consider taking an initial lower credit limit if denied at first. Building up from a starter card is better than no card at all.

With preparation and persistence, getting instant approval for a new business credit card is very achievable. Following these tips will help any small business operator get up and running with a useful line of credit quickly.

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