Fast Approval Business Credit Cards For Small Business Owners In 2021

Spark Classic from Capital One Visit Site	Annual Fee: $0 Purchase APR: 24.49% (variable)
Required Credit: Fair Welcome Offer: None Intro Purchase APR: N/A Intro Balance Transfer APR: N/A Foreign Transaction Fee: None Rewards: Unlimited 1% cash back Featured Benefit: Zero fraud liability if your card is lost or stolen. Plus, get automatic fraud alerts via text, email, or phone call. More card details (click to expand) Hide

Spark Classic from Capital One

Annual Fee:

Purchase APR:

24.49% (variable)

Required Credit: Fair

Welcome Offer: None

Intro Purchase APR: N/A

Intro Balance Transfer APR: N/A

Foreign Transaction Fee: None

Rewards:

Unlimited 1% cash back

Featured Benefit:

Zero fraud liability if your card is lost or stolen. Plus, get automatic fraud alerts via text, email, or phone call.

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.

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

Blue Business Plus Credit Card from American Express

Blue Business Plus Credit Card from American Express Visit Site	Annual Fee: $0 Purchase APR: 14.74% - 20.74% (variable)
Required Credit: Good Welcome Offer: None Intro Purchase APR: 0% for the first 12 months Intro Balance Transfer APR: 0% for the first 12 months Foreign Transaction Fee: 2.7% Rewards: 2 points per $1 spent on all purchases, up to $50,000 per year 1 point per $1 spent on all purchases, after $50,000 Featured Benefit: Ability to spend above the credit limit with Expanded Buying Power. Note: The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the card, your payment history, credit record, financial resources known, and other factors. More card details (click to expand) Hide

Blue Business Plus Credit Card from American Express

Annual Fee:

Purchase APR:

14.74% - 20.74% (variable)

Required Credit: Good

Welcome Offer: None

Intro Purchase APR: 0% for the first 12 months

Intro Balance Transfer APR: 0% for the first 12 months

Foreign Transaction Fee: 2.7%

Rewards:

2 points per $1 spent on all purchases, up to $50,000 per year
1 point per $1 spent on all purchases, after $50,000

Featured Benefit:

Ability to spend above the credit limit with Expanded Buying Power. Note: The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the card, your payment history, credit record, financial resources known, and other factors.

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.

Spark Cash From Capital One: Best Cash Back Rewards

Spark® Cash from Capital One®

Spark® Cash from Capital One® Visit Site	Annual Fee: $95 ($0 the first year) Purchase APR: 18.49% (variable)
Required Credit: Excellent Welcome Offer: $500 cash back if you spend $4,500 in the first 3 months after opening your account Intro Purchase APR: N/A Intro Balance Transfer APR: N/A Foreign Transaction Fee: None Rewards: Unlimited 2% cash back on all purchases Featured Benefit: Zero fraud liability if your card is lost or stolen. Plus, get automatic fraud alerts via text, email, or phone call. More card details (click to expand) Hide

Spark® Cash from Capital One®

Annual Fee:

$95 ($0 the first year)

Purchase APR:

18.49% (variable)

Required Credit: Excellent

Welcome Offer: $500 cash back if you spend $4,500 in the first 3 months after opening your account

Intro Purchase APR: N/A

Intro Balance Transfer APR: N/A

Foreign Transaction Fee: None

Rewards:

Unlimited 2% cash back on all purchases

Featured Benefit:

Zero fraud liability if your card is lost or stolen. Plus, get automatic fraud alerts via text, email, or phone call.

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.

Chase Ink Business Preferred: Best Travel Rewards

Chase Ink Business Preferred

Chase Ink Business Preferred Visit Site	Annual Fee: $95 Purchase APR: 17.49% – 22.49% (variable)
Required Credit: Excellent Welcome Offer: 100,000 points if you spend at least $15,000 within the first three months of opening your account Intro Purchase APR: N/A Intro Balance Transfer APR: N/A Foreign Transaction Fee: None Rewards: 3 points per $1 spent on the first $150,000 in combined purchases on travel, shipping purchases, internet/cable/phone services, and advertising purchases made with social media and search engines each account anniversary year 1 point per $1 on all other purchases Featured Benefit: Points are worth 25% more if redeemed for travel via Chase Ultimate Rewards More card details (click to expand) Hide

Chase Ink Business Preferred

Annual Fee:

$95

Purchase APR:

17.49% – 22.49% (variable)

Required Credit: Excellent

Welcome Offer: 100,000 points if you spend at least $15,000 within the first three months of opening your account

Intro Purchase APR: N/A

Intro Balance Transfer APR: N/A

Foreign Transaction Fee: None

Rewards:

3 points per $1 spent on the first $150,000 in combined purchases on travel, shipping purchases, internet/cable/phone services, and advertising purchases made with social media and search engines each account anniversary year
1 point per $1 on all other purchases

Featured Benefit:

Points are worth 25% more if redeemed for travel via Chase Ultimate Rewards

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.

Brex Card: Best For Startups

Brex Card

Apply Now

Brex Card Apply Now	Annual Fee: $0 Purchase APR: N/A (this is a charge card)
Required Credit: N/A Welcome Offer: 50,000 points after spending your first $1,000, 20,000 points for linking payroll, and 10,000 points for spending $3,000 in your first 3 months; over $150,000 on credits and discounts on signup Intro Purchase APR: N/A Intro Balance Transfer APR: N/A Foreign Transaction Fee: None Rewards: If the Brex Card is your exclusive credit card and you opt for daily automatic payments: 8 points per $1 spent on rideshares and taxis 5 points per $1 spent on travel booked through Brex Travel 4 points per $1 spent at restaurants 3 points per $1 spent on recurring software purchases 1 point per $1 spent on everything else If you opt into the remote collaboration rewards program: 8 points per $1 spent on collaboration tools 4 points per $1 spent on food delivery 3 points per $1 spent on recurring software purchases 1 point per $1 spent on everything else If Brex Corporate is not your exclusive credit card: 1 point per $1 spent on all purchases Featured Benefit: No personal guarantees, credit scores, or security deposits required from founders More card details (click to expand) Hide

Brex Card

Apply Now

Annual Fee:

Purchase APR:

N/A (this is a charge card)

Required Credit: N/A

Welcome Offer: 50,000 points after spending your first $1,000, 20,000 points for linking payroll, and 10,000 points for spending $3,000 in your first 3 months; over $150,000 on credits and discounts on signup

Intro Purchase APR: N/A

Intro Balance Transfer APR: N/A

Foreign Transaction Fee: None

Rewards:

8 points per $1 spent on rideshares and taxis
5 points per $1 spent on travel booked through Brex Travel
4 points per $1 spent at restaurants
3 points per $1 spent on recurring software purchases
1 point per $1 spent on everything else
8 points per $1 spent on collaboration tools
4 points per $1 spent on food delivery
3 points per $1 spent on recurring software purchases
1 point per $1 spent on everything else
1 point per $1 spent on all purchases

Featured Benefit:

No personal guarantees, credit scores, or security deposits required from founders

Get Started with Brex 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.

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

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