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Fast Approval Business Credit Cards For Small Business Owners In 2021

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instant approval business credit cards

When you run a small business, funding needs can arise out of nowhere, leaving you scrambling for the fastest cash possible. This is clearly shown by the frequency with which people search for terms like “instant approval credit cards.” So, how quickly can you really get a new business credit card in your hands, and what can you do to ensure the process goes as rapidly as possible?

Learn More About Our Top Picks

CompanyKey TakeawayNext StepsKey Takeaway
Spark® Classic from Capital One®

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Best for overall fast approval.
Best for overall fast approval.

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Blue Business® Plus Credit Card from American Express

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Best 0% intro rate.
Best 0% intro rate.

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Spark® Cash from Capital One®

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Best for cash back rewards.
Best for cash back rewards.

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Chase Ink Business Preferred℠

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Best for travel rewards.
Best for travel rewards.

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Brex Card

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Best for startups.
Best for startups.

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Read more below to learn why we chose these options.

Best Fast Approval Business Credit Cards

To make your fast approval credit card search easier, we went through the gamut of small business credit cards and picked our favorites for fast approval. Find out if one suits your business below.

Spark Classic From Capital One: Best Overall Fast Approval Card

Spark® Classic from Capital One®



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Spark® Classic from Capital One®



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Annual Fee:


$0

 

Purchase APR:


24.49% (variable)

The Spark Classic from Capital One is a very solid business credit card — one that offers fast approval to business owners with at least fair (or average) credit.

Spark Classic is the most egalitarian of Capital One’s triumvirate of business credit cards. The card’s minimum credit score is 580, making Spark Classic the only Capital One business card available to entrepreneurs with fair credit. Meet the credit requirements, and you’re likely to get that elusive Instant Approval.

The card’s APR is relatively high and the rewards program is rather modest (you get 1% cash back on all purchases), but the card’s true value lies in its ability to build your credit. Capital One will report your credit activity to multiple credit bureaus (not all issuers of business credit cards do this), which means that with every monthly payment you make on time, you improve your credit score. With enough use, the Spark Classic can help boost your credit score to the point where you’ll be eligible for business cards with lower APRs and better rewards programs.

Pros

  • Targeted at fair credit applicants.
  • No annual fee.

Cons

  • Low cash back rate.
  • Minimal benefits.

Read our in-depth review

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Blue Business Plus From American Express: Best 0% Intro Rate

Blue Business® Plus Credit Card from American Express



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Blue Business® Plus Credit Card from American Express



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Annual Fee:


$0

 

Purchase APR:


14.74% - 20.74% (variable)

The Amex Blue Business Plus card is a great business card for those looking for a 0% introductory APR — this card charges no interest for the cardholder’s first 12 months. Furthermore, American Express is one of the few card issuers that will, in many cases, issue you an instant card number after you get approved.

With the Blue Business Plus, you’ll earn 2x rewards on all purchases up to $50,000 each calendar year. Your points can be used to book travel via American Express Travel, a well-regarded travel rewards program. On top of those travel perks and a 0% intro rate, this card lacks an annual fee — a great plus for businesses that won’t be putting too much on their credit card.

Pros

  • 0% introductory APR for the first 12 months.
  • No annual fee.
  • Possibility of an instant card number.

Cons

  • Spending cap on the 2x rewards rate.
  • Foreign transaction fee.


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Spark Cash From Capital One: Best Cash Back Rewards

Spark® Cash from Capital One®



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Spark® Cash from Capital One®



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Annual Fee:


$95 ($0 the first year)

 

Purchase APR:


18.49% (variable)

Spark Cash from Capital One is a business credit card offering instant approval only to those with excellent credit. But if you make the grade, you stand to be handsomely rewarded with a generous cash back program.

Spark Cash offers a flat 2% cash back on all purchases (although it also carries a $95 annual fee after the first year). It’s a higher cash back earning rate than you’ll find with most competitors offering a flat cash back rate, and as such is an excellent choice for entrepreneurs with excellent credit looking for a fast approval card with great cash back earning potential. You won’t have to bother tracking spending categories — just earn 2% cash back on all purchases.

Pros

  • Unlimited cash back rewards at a high flat rate.
  • No foreign transaction fee.

Cons

  • $95 annual fee after the first year.


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Chase Ink Business Preferred: Best Travel Rewards

Chase Ink Business Preferred℠



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Chase Ink Business Preferred



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Annual Fee:


$95

 

Purchase APR:


17.49% – 22.49% (variable)

Chase Ink Business Preferred may have a higher standard for instant approval than some credit cards on this list (the Ink Business Preferred requires an applicant to have good or excellent credit), but if you meet this threshold and are able to get instant approval, the Ink Business Preferred is an excellent choice for business use, particularly if your business requires travel.

Ink Business Preferred cardholders earn 3 points per dollar spent on travel, shipping purchases, Internet, cable and phone services, and on advertising purchases made with social media sites and search engines each account anniversary year (up to $150,000 spent). All other purchases get 1 point per dollar spent. Points are then worth 25% more when redeemed for travel through Chase Ultimate Rewards.

Beyond this card’s reward scheme, Chase also lets you transfer your points on a 1:1 basis to an array of airline and hotel loyalty programs. If you need something other than travel rewards, you’ll also be able to redeem points for Amazon.com purchases, gift cards, and cash back, making this an extremely versatile card. Do note, however, all this comes at a cost: the Chase Ink Business Preferred carries a $95 annual fee.

Pros

  • High-earning travel rewards.
  • Bonus rate when redeeming points for travel.

Cons

  • $95 annual fee.
  • Spending cap on the 3x rewards rate categories.


Read our in-depth review

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Brex Card: Best For Startups

Brex Card



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Brex Card



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Annual Fee:


$0

 

Purchase APR:


N/A (this is a charge card)

With a unique underwriting scheme, the Brex Card won’t require a personal guarantee, making it perfect for startups in need of a credit card quickly. Plus, like Amex, Brex offers instant card numbers — so your business will be able to start using virtual cards upon approval.

Brex also features a rewards and benefits package aimed at fast-moving startups. Perks like bonus points for ridesharing or savings on business-oriented services like Slack or AWS are simply not generally offered by normal credit card issuers.

However, the Brex Card won’t be for everyone. The card is technically a charge card so your entire balance is due on your statement date. Besides that, only C-corp, S-corp, LLC, and LLP corporations are eligible for the Brex Card.

Pros

  • Startup-focused rewards.
  • No personal guarantee required.
  • Virtual cards upon approval.

Cons

  • Is a charge card.
  • Available only to C-corp, S-corp, LLC, and LLP corporations.

Get Started with Brex Card

Read our in-depth review

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Fast Approval Credit Card Alternative: Online Business Lines Of Credit

If you need funding for your business ASAP but are not enthused about the fast approval business credit cards currently available, consider a business line of credit. Lines of credit work more like credit cards than term loans. You borrow funds up to a certain limit and you only pay interest on what you borrow.

Some lenders offer instant approval, in which case the only waiting you’ll need to do will be for the funds to arrive in your account. Let’s take a look at a few business lines of credit offering instant approval.

Kabbage

Kabbage



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Kabbage is well-known for its remarkably quick application process. With Kabbage’s streamlined approval process, you may well be able to start drawing funds within a few minutes of getting approved. Want fast money? Kabbage can deliver.

However, that doesn’t mean Kabbage is all sweetness and light. The costs associated with a Kabbage line of credit are relatively high. You may end up paying 10% of your borrowing amount each month in fees. Your effective APR ranges from 24% to a whopping 99%.

With rapid approval and a maximum borrowing amount of $250,000, Kabbage’s lines of credit hold significant appeal for the entrepreneur in need of fast cash, despite the drawbacks. Now, let’s check out another online lender offering business lines of credit.

Fundbox

Fundbox



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Fundbox’s business lines of credit are easier to qualify for than those of Kabbage — you only need to have a compatible accounting or invoicing software for at least two months before applying or have three months of transactions in a business bank account. There are no time-in-business requirements and there’s no strict credit score requirement to meet.

You can establish a maximum credit line of $150,000 with Fundbox, so larger businesses might find Kabbage’s lines of credit more fitting of their needs.

How To Increase Credit Card Application Speed

If everything goes right, you can often be approved for a new business credit card in less than a minute. Let’s go through what you can do to make this happen.

Check Your Credit Score

When you know your credit score, you can apply for the business credit cards you know you’ll be likely to qualify for. Remember, the more your credit score exceeds the card issuer’s minimum requirements, the more likely it is that you’ll be approved quickly.

Not sure what your credit score is? Don’t pay the credit bureaus just to learn your own credit status! Instead, read our piece on the best free credit score sites and check your credit score without giving a dime to anybody.

Gather Your Business & Financial Information

Be sure to have the following information ready before you apply for a business credit card.

  • Business Name (if you’re a sole proprietor, use your name)
  • Business Address
  • Type Of Business (corporation, partnership, LLC, etc.)
  • Your Business Role
  • Tax ID Number (use your Social Security number if you’re a sole proprietor; use your Employer Identification Number (EIN) for other business types)
  • Years In Business
  • Number Of Employees
  • Annual Business Revenue
  • Estimated Monthly Spending

Head To The Internet

Getting approved for a credit card online is quicker than getting approved via phone or snail mail. Take advantage of that big beautiful Information Superhighway when applying for that business credit card.

Fast Approval Business Credit Cards: FAQs

What are fast approval business credit cards?

The terms “fast approval credit cards” and “instant approval credit cards” are used interchangeably to refer to the same kinds of credit cards. Of course, “instant” is an appealing word to use from a marketing perspective. Just remember: if it sounds too good to be true, it most likely is.

Are instant approval credit cards really instant?

It depends. Those with a healthy credit history can often receive approval immediately upon application completion for an instant approval credit card. However, those with less-than-good credit may need to wait extra time for approval — even if the card they applied for is marketed as “instant approval”.

Is there such a thing as guaranteed instant approval?

No, although those with better credit scores will have a better chance of qualifying for instant approval.

What’s the difference between pre-approval and pre-qualifying?

These terms have very similar meanings and specific definitions can vary from issuer to issuer. In some cases, you may see the terms used interchangeably. In other cases, “pre-qualified” might mean you have met general criteria (such a credit score range) while “pre-approved” might mean you have met more specific criteria (such as payment history).

If my credit card is approved instantly, can I start using my credit card immediately?

In some cases, an issuer may give you a virtual credit card number that can be used immediately for online purchases. Most of the time, however, you’ll still have to wait for your card to arrive in the mail.

What’s the difference between instant approval and instant use cards?

Instant approval means that you have been approved for a credit card upon application completion. However, you’ll still often need to wait to receive a physical card in the mail.

Instant use cards, meanwhile, allow a new cardholder to use their credit card immediately upon approval. You may see these cards referred to as “virtual credit cards”.

Who qualifies for instant approval credit cards?

Fast approval credit cards don’t work similarly for all applicants. The truth is, whether the card you apply for is a “fast approval” card or not, you’re going to be approved more quickly if you have good-to-excellent credit.

With good or excellent credit, you may well be approved nearly instantly upon meeting the card issuer’s credit and income requirements. When an applicant has less impressive credit, a credit card issuer has more work to do to determine the applicant’s financial worthiness.

In Summary: Best Fast Approval Business Credit Cards

Jared Beilby

Jared Beilby

Jared is a writer hailing from the Pacific Northwest. Besides writing for Merchant Maverick, he has experience writing about sports and video games. He holds a Bachelor of Arts in Journalism from George Fox University.
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