Are There Instant-Approval Business Credit Cards?
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No business credit cards offer instant approval, strictly speaking. But some cards advertise fast decision times of less than 60 seconds and may provide your credit card number before your physical card so you can start spending immediately.
Business owners with good to excellent credit (a FICO score of at least 690) stand the best chance of getting approved almost instantly. If your credit isn’t that strong, you may need to wait a week or more to get a small-business credit card.
Here are business credit cards that may offer fast approval and what you need to know about getting a card quickly if you have excellent credit, bad credit or anything in between.
Business credit cards for fast approval decisions
Some business credit cards claim to offer nearly instant approval. But the speed of their decision depends largely on factors like your personal credit and your business’s revenue. By choosing a business credit card you’re well-qualified for, you’re more likely to enjoy a faster turnaround. Here are some to consider:
The Blue Business® Cash Credit Card from American Express
Our pick for: Instant credit card numbers
If you need to make an immediate purchase, American Express offers instant card numbers for all its small-business cards (except the Lowe's Business Rewards Card from American Express), according to a company spokesperson. American Express Go users can also set up virtual cards to use online right away or add to a mobile wallet. The no-annual-fee American Express Blue Business Cash™ Card may be a good fit for fast spending thanks to its long introductory APR offer and solid cash-back rate.
Capital One® Spark® Classic for Business
Our pick for: Applicants with fair credit
The rewards rate on the Capital One® Spark® Classic for Business isn't going to wow anyone, there's no sign-up bonus and the APR is high. What makes this card valuable is that it's available to business operators with fair or "average" credit, increasing your chances of being approved fast. Capital One advertises approval speeds of as little as 60 seconds. Most customers can also receive Instant card numbers for Spark credit cards, besides the Capital One Spark Cash for Business card, according to a company spokesperson.
Our pick for: Businesses with strong revenue
The Brex Card has a distinct profile: It's a good option when a business owner has a thin credit file but is well-capitalized. If that sounds like your business, you may get a fast approval. Brex determines creditworthiness by evaluating a company's cash balance, spending patterns and investors. The Brex Card also doesn't require a personal guarantee and earns rewards.
First National Bank Business Edition® Secured® Visa Card
Our pick for: Fast pre-qualification
If you have bad credit, it can take as little as 30 seconds to see if you'll pre-qualify for the First National Bank Business Edition® Secured Mastercard® Credit Card. In addition, First National Bank lets you choose your own credit limit between $2,000 and $100,000 (in multiples of $50) when you apply. This card charges a $39 annual fee.
How to get a fast approval on a business credit card
To get a fast approval on a business credit card application, good to excellent credit is a must. If you’ve been in business for a while and can demonstrate your annual business revenue, these factors will also likely help (as they do with all business credit cards).
Some card issuers may let you pre-qualify, which is typically a quick process that tells you if you’re likely to be approved. You’ll still need to go through the formal application process, but if you’re in a hurry, pre-qualifying can ensure you don’t waste time applying for a card you can’t get.
If you can’t pre-qualify, the best way to get approved for any business credit card is to choose an option you’re likely to be eligible for. Start by checking your credit score, so you’ll know if it’s high enough to qualify for most cards or if you’ll need to look for business credit cards for bad credit.
How long does it take to get approved for a business credit card?
There’s no hard-and-fast rule about how quickly business credit card applications can be processed. Credit card companies need to take time to review your business financials as well as your personal credit history.
For example, you could be approved for a Capital One business credit card almost instantly — in as little as 60 seconds. However, if additional information is required, you might have to wait more than two weeks for a decision.
If you need fast access to working capital, you may be able to receive your credit card number before the card arrives in your mailbox. Most American Express business credit cards offer this feature, for instance. This makes it easy to use your business credit card right away.
with Capital One
Are there instant-approval business credit cards for bad credit?
If you have bad credit, it will be tough to get approved for most business credit cards. Your best bet will likely be a secured business credit card.
With a secured business credit card, you provide a refundable deposit at the opening of the account. This helps reduce the lending risk for the credit card company and helps you start to build business credit.
However, credit limits on secured cards are tied to your deposit. That means these cards may not necessarily be the best fit if you’re looking for an instant-approval business credit card because you need to access additional capital quickly.
In that instance, a bad credit business loan may make more sense. You may be able to qualify for a business line of credit, which functions similarly to a credit card, with subpar personal credit. Or if you have outstanding invoices from clients, invoice factoring could turn them into quick cash.
All information about the Lowe's Business Rewards Card from American Express has been collected independently by NerdWallet. The Lowe's Business Rewards Card from American Express is no longer available through NerdWallet.
All information about the Capital One Spark Cash for Business has been collected independently by NerdWallet. The Capital One Spark Cash for Business is no longer available through NerdWallet.