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Key takeaways
- The faster your business gets approval for a new credit card, the faster you can put your new credit line to work for your company
- Instant approval is an attractive perk when it comes to business credit cards, but it’s not available with every card
- The following business credit cards may be able to grant you immediate approval, but this will depend on your creditworthiness and your business’s financial situation
As a business owner, it’s up to you to stay on top of business trends, inventory needs, customer needs and about a dozen other things on any given day. So when you’re in the market for a new credit card, you need that process to go quickly.
Fortunately, there’s a variety of instant approval business credit cards available that might grant you fast access. These options range from travel rewards cards to co-branded hotel cards and general cash back cards, so there’s a little something for everyone.
Comparing the best business credit cards for instant approval
| Card Name | Annual fee | Rewards |
|---|---|---|
|
Capital One Spark Miles for Business
|
$0 intro for first year; $95 after that
|
5X miles on hotels and rental cars booked through Capital One Travel 2X miles on all purchases |
|
Capital One Spark Classic for Business
|
$0
|
1% cash back on all purchases |
|
Ink Business Preferred® Credit Card
|
$95
|
3X points on the first $150,000 you spend on travel and select business categories each account anniversary year (then 1X points) |
|
The American Express Blue Business Cash™ Card
|
No annual fee
|
2 percent cash back on all eligible purchases (up to $50,000 per year, then 1 percent back) |
|
Marriott Bonvoy Business® American Express® Card
|
$125
|
6X points at participating Marriott Bonvoy hotels (up to 18.5X points through the Bonvoy loyalty program with Gold Elite status) 4X points on worldwide restaurant, U.S. gas station, U.S. shipping and U.S. wireless telephone service purchases 2X points on all other purchases. |
Top business credit cards for instant approval
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The Capital One Spark Miles for Business provides miles and more if you’re a business that needs travel points. It has an easy-to-remember 2X miles on all purchases, a to-the-point welcome bonus (50,000 miles after spending $4,500 within the first three months) and $0 intro annual fee the first year (then $95), which makes the card a strong, simple contender.
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Pros
- It earns 2X points on all purchases and 5X miles on hotels and rental cars booked through Capital One Travel.
- You can earn a welcome bonus of 50,000 miles once you spend $4,500 on purchases within the first three months of account opening.
- The card offers up to $100 credit for Global Entry or TSA PreCheck application fees. You can obtain free employee cards and expense tracking.
Cons
- The card carries a $0 intro annual fee, then $95, which adds some cost to holding the card.
- Your employees don’t receive all of the same card benefits as the main cardholder.
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The Capital One Spark 1% Classic* is perfect for business leaders who don’t yet have good credit. Fair-credit borrowers may qualify and can earn a steady stream of rewards while working on building credit. Plus, Capital One tosses in some helpful business features (like Quickbooks integration, for example) to sweeten the pot.
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Pros
- You can earn an unlimited 1 percent cash back on all purchases.
- This card doesn’t charge an annual fee.
- It comes with built-in business tools like year-end summaries and integrations with Quickbooks and other business software.
- You may qualify for the card even with fair credit.
Cons
- This card doesn’t come with a welcome offer, which hurts its up-front value.
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While there may be better credit card picks for business owners loyal to a specific airline or hotel brand, the Ink Business Preferred® Credit Card from Chase offers flexibility to business owners who want to transfer points 1:1 to different Chase airline and hotel partners. Business owners with good to excellent credit scores may be able to qualify instantly, depending on whether Chase requires additional information to review your application.
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Pros
- You can earn 3X points on the first $150,000 you spend on travel and select business categories each account anniversary year (then 1X points).
- It features a welcome bonus of 100,000 points after you spend $8,000 on qualifying purchases in the first three months after account opening.
- You’ll receive a 25 percent points bonus when redeeming points toward Chase Travel. The card allows you to transfer points to Chase travel partners at a 1:1 ratio.
Cons
- The card charges an annual fee of $95.
- You’ll need to meet somewhat high spending requirements to earn the welcome bonus.
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Amex is well-known for its valuable credit cards and The American Express Blue Business Cash™ Card doesn’t disappoint. It offers 2 percent cash back on all eligible purchases (on up to $50,000 per year, then 1 percent back) with an intro APR offer and no annual fee. This makes the card a solid choice for many types and sizes of businesses.
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Pros
- There’s no annual fee to cut into your rewards.
- It earns 2 percent cash back on all eligible purchases (up to $50,000 per year, then 1 percent back).
- The card features a 0 percent intro APR on purchases for 12 months (then a variable APR of 18.49 percent to 26.49 percent), which can help you save interest on large purchases.
Cons
- While Amex cards can be used almost everywhere, some businesses won’t accept them due to high processing fees.
- Both of the card’s cash back categories have limitations, which may prohibit large spenders.
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Marriott Bonvoy is a hugely popular hotel chain, and the Marriott Bonvoy Business® American Express® Card is a great way to build loyalty with the brand. The card comes with a top-tier rewards structure: 6X points at participating Marriott Bonvoy hotels (up to 18.5X points through the Bonvoy loyalty program with Gold Elite status); 4X points on worldwide restaurant, U.S. gas station, U.S. shipping and U.S. wireless telephone service purchases; and 2X points on all other purchases.
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Pros
- You can earn three Free Night Awards after you use your new Card to make $6,000 in eligible purchases within the first 6 months of Card Membership. Redemption level up to 50,000 Marriott Bonvoy® points for each bonus Free Night Award, at hotels participating in Marriott Bonvoy®. Certain hotels have resort fees.
- Simply owning the card grants complimentary Marriott Gold Elite status.
- Enjoy One Free Night Award every year after your card’s renewal month.
Cons
- The card’s $125 annual fee may be steep for some businesses.
How to choose a business card with instant approval
Many credit cards offer instant approval, all with different features, credit requirements and business-related perks. Here are a few things you can do to improve your odds of getting a card that works best for your business.
Evaluate your business spending
The right card can boost your earned rewards.
Where do you and your employees spend the most? Do you plan on investing in a few specific areas in the future? Figuring out how you typically spend your money or any large purchases on the horizon will allow you to choose a card that can best earn rewards on those purchases.
Unfreeze your credit
The faster an issuer can access your score, the faster you can get approved.
If you’ve frozen your credit, take the time to unfreeze it or schedule a thaw before applying for a new business credit card. If the issuer needs to pull your credit, having your files frozen will slow down the instant approval process.
Improve your credit where possible
The best cards are available to those with the best credit.
Since you need good credit for most instant approval credit cards, make sure your personal and business credit is in good standing. Consider retrieving and reviewing your credit report for errors.
Take the time to research
A card with the highest rewards rate may not offer your business the most value.
Even if you want to open a new card quickly, take some time to research multiple options to be sure you’re choosing between the best options for you on the market. On top of rewards, many useful business perks are present on some cards and not others, such as integrations with business software and free employee cards.
How long does it take to get a business credit card?
All of the business cards listed above may offer “instant approval.” This phrase means you may receive approval for your new business credit card in as little as 30 to 60 seconds if you qualify.
However, not all applicants may qualify for instant approval. If the issuer feels it needs more information about you or your business, it may take longer to process your application. In some cases, seeing if you have business credit card pre-approval before applying can help determine if you’ll receive instant approval.
Is a business card with instant approval right for you?
Business credit cards with instant approval can be worthwhile for most business owners, but you need to make sure the handful of cards that offer this type of approval meet your needs.
Before officially deciding, ask yourself the following questions:
- Do you have the credit to qualify? Many instant approval credit cards require at least good credit to qualify since the issuer needs to make such a quick decision.
- Do you need a credit card quickly? If you don’t need a credit card within the next few days, consider expanding your search to include other credwith may have a longer approval timeline. This way you can be sure you find the best card for your needs.
- What rewards are you looking for? Plenty of instant approval credit cards offer rewards, but there are non-instant-approval cards that offer even better rewards. To offer the best rewards, the credit card issuer needs to run a more in-depth credit check to understand if you’re fully qualified.
- Can you handle a higher interest rate? Because issuers aren’t doing a full-fledged deep-dive into your finances, you may have to deal with higher interest rates than non-instant-approval cards.
Frequently asked questions
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No. Instant approvals aren’t always instantaneous (nor are you guaranteed to qualify) because card issuers still need to evaluate your credit and some basics of your business’s financial health. The process is just faster than traditional business credit card applications.
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Not necessarily. Like with any type of credit card, the credit limit you’re approved for depends on your credit score and financial profile. Businesses with higher credit scores and earnings qualify for higher credit limits, no matter the card they apply for.
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To make the instant approval process as quick and painless as possible, make sure your credit score is in the good or excellent range and prepare any documentation that verifies your income and business credentials ahead of time.
The bottom line
Business credit cards with instant approval give you and your business quick access to a credit line, ongoing rewards and additional business-specific features. There are even a few instant approval cards for those with lower credit scores, although most options available today are reserved for consumers with good to excellent credit.
*The information about the Capital One Spark 1% Classic has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.
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