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We all know the pain of applying for an unsecured business credit card. They can take weeks or even months to approve and often come with high-interest rates, different terms than what you’re used to, and higher fees. Not everyone is able to get approved by one bank so it’s important that there are alternatives for people who want guaranteed approval in a few minutes or less.
Consider the objective you wish to achieve when comparing quick acceptance business credit cards. A secured card may assist you in establishing or repairing your credit. Choose a rewards program that will benefit you the most, such as cashback, points, or miles, if you want quick financing and continuing benefits. While the idea of a credit card that you can use right away appeals to you, be sure it will meet your company requirements in the long run. Here’s our choice for the best business credit cards with fast approval:
Chase Ink Business Unlimited®
- After spending $7,500 on purchases in the first three months after establishing your account, you’ll get $750 extra cashback.
- Earn an unlimited amount of 1.5 percent cash back on all purchases made for your company.
- There is no annual fee.
- With Chase Ultimate Rewards®, you may get cashback, gift cards, travel, and more.
- Employee cards allow you to earn rewards quicker and at no extra expense. To have more control over your spending, set specific spending restrictions.
- Your card transactions will be monitored for potential indications of fraudulent activity utilizing real-time fraud monitoring with Fraud Protection.
- You won’t be held liable for illegal charges made using your card or account information if you have Zero Liability.
- On purchases, there is a 0% introductory APR for the first 12 months.
Pros
- On purchases, there is a 0% introductory APR.
- On all purchases, you’ll get unlimited cash back incentives.
Cons
- Balance transfers are not eligible for the introductory APR period.
- Balance transfer fees are 5%.
- When renting a car for business, the collision damage waiver is primary, meaning it supersedes any personal insurance coverage you may have; it offers compensation up to the real cash value of the vehicle for theft and collision damage for most vehicles in the US and overseas.
- Purchase protection: Protects your new purchases from damage or theft for 120 days, up to $10,000 per claim and $50,000 per account per year.
- On qualifying warranties of three years or less, extended warranty protection extends the time duration of the US manufacturer’s guarantee by an extra year.
Why We like it:
With 1.5 percent cash back on every transaction and no annual fee, the Chase Ink Business Unlimited® card is the finest overall quick acceptance card. If your company purchases don’t fit into just two or three categories, this may be the ideal card for you since you can use it for anything without any limitations or constraints. For the first 12 months, it also provides a 0% introductory annual percentage rate (APR) on purchases. Plus, if you spend $7,500 on purchases in the first three months after establishing an account, you’ll get $750 in cashback.
You’ll need a decent to exceptional credit score to qualify for this card and get these benefits since Chase will conduct a personal credit check to make their choice.
The American Express Blue Business CashTM Card
- After you spend $3,000 on your Card in the first three months, you’ll get a $250 statement credit.
- Earn 2% cashback on all qualifying purchases up to $50,000 per calendar year, after which you’ll get 1%. Earned cash back is immediately applied to your account.
- Your company is always evolving, from workflow to inventory to floor layouts. As a result, with Expanded Buying Power, you have the ability to spend above your credit limit.
- Always keep in mind that the amount you may spend above your credit limit is restricted. It changes based on your Card use, payment history, credit history, financial resources known to American Express, and other variables.
- For the first 12 months after account creation, you’ll get a 0% intro APR on purchases, followed by a variable rate of 13.24 percent to 19.24 percent, depending on your creditworthiness and other criteria established at the time of account opening.
- There is no annual fee.
- Terms and Conditions apply.
Pros
- For the next 12 months, there is no interest.
- On every purchase, get a steady 2% cashback return.
Cons
- There is no sign-up incentive in the form of money.
- The 2% cashback category has a limit of $50,000 in yearly expenditure.
- Extended warranty coverage: On warranties of up to 5 years, American Express offers up to an extra year of coverage. Each year, coverage is capped at $10,000 per event and $50,000 per account.
- Purchase protection: If an item bought with the card is damaged or stolen within 90 days of purchase, the issuer will repair, replace, or refund you. The maximum coverage is $1,000 per incident and $50,000 per account per year.
- Baggage insurance: If your baggage is damaged or destroyed while traveling by airline, train, ship, or bus, American Express will pay you for damages not covered by your own personal insurance.
Why we like it:
This card offers simple cash back benefits that make it simple to use. Up to $50,000 per calendar year, get 2% cashback on all qualifying purchases, then 1% after that. It has no annual fee and a 0% APR for the first 12 months. It also has a cheap interest rate. This card is the best overall on our list of the top small business credit cards.
Earn a $250 statement credit after spending $5,000 in eligible purchases during the first six months, and another $250 statement credit after spending $10,000 or more in qualifying purchases within the first year as a pleasant welcome gift.
American Express, like Chase Ink Business Unlimited®, requires a high to outstanding credit score to accept your application. Almost all American Express business cards provide instant card numbers upon acceptance, allowing you to immediately begin making transactions. This is one of the finest credit cards for small businesses in our opinion.
Spark® Classic for Business
- Every time you swipe, you’ll get 1% cashback.
- Build your company’s credit by using it responsibly.
- Employee cards may be distributed for free.
Pros
- Possibility of obtaining business credit
- Even with acceptable credit, you may earn fixed-rate incentives.
- Reward points never run out.
Cons
- High APR
- There is no sign-up incentive.
- Personal credit bureau reports
- Purchase protection: If your qualifying goods are stolen or damaged during the first 90 days of purchase, Capital One will replace, repair, or refund you.
- Extended warranty protection: On qualifying goods bought with your business card, you’ll receive an extra year of warranty protection, up to one year beyond the manufacturer’s guarantee.
- When you hire an eligible vehicle with your Capital One® Spark® Classic for Business card, you’re protected from damage resulting from an accident or theft.
Why we like it:
Although the Capital® One Spark® Classic does not provide any rewards, it may be a suitable option if you have a low credit history. It has no yearly charge and provides 1% cashback on all transactions. This card has a high purchase APR of 26.99 percent with no introductory rate, but if you can pay off the amount in full each billing cycle, it may help you establish your company and develop a credit history.
To assess acceptance, Capital One will pull your personal credit, but you just need a decent credit score. In addition, almost all Capital One card approvals result in a card number being issued right away. It’s also an excellent option if you have poor credit and need assistance in rebuilding and repairing it.
Wells Fargo Secured Credit Card
- Option 1: Earn 1.5 percent cash back on every dollar spent.
- Option for Reward Points: Earn 1 point for every $1 spent, plus 1,000 extra points if your business spends $1,000 or more in a monthly billing period.
- There is no yearly charge for the rewards program.
- A credit line of $500 to $25,000 is available.
- There is no risk of responsibility.
Pros
- With a credit score of less than 580, approval is possible.
- Fixed-rate cash back or points rewards are your options.
Cons
- A security deposit of at least $500 is required.
- Has a yearly charge
- Purchase Assurance: If an item is damaged or stolen within 90 days of purchase, Wells Fargo will fix, replace, or refund you.
- Design Studio: On your credit card, include a personal picture or a company design.
Why we like it:
A secured credit card maybe your best option if you have little to no credit history or have had trouble establishing credit. To apply for this card online, you’ll need a Wells Fargo business checking or savings account. When you apply, you will be subjected to a personal credit check. When you’re accepted, money will be transferred from your bank account to your credit card, and the amount transferred will be your credit limit. You’ll need to make regular monthly payments on time, just like any other company credit card.
There’s no annual fee, and you can pick between cashback and points incentives, much as with the Wells Fargo Business Platinum card. On eligible purchases, you will get 1.5 percent cash back if you choose cashback. You receive one point for every dollar spent using points, plus an extra 1,000 points per billing cycle if your company spends $1,000. If you keep your account in good standing and make on-time payments, you may be eligible for a Wells Fargo credit card that isn’t secured. It’s one of our top picks for the finest business credit cards with quick acceptance.
Visa® Secured OpenSky® Credit Card
- We don’t pull your credit when you apply, so your credit score won’t be affected.
- Your credit limit is determined by the amount of your refundable deposit, which may range from $200 to $3000. You are the one who makes the decision on what is best for you.
- Use your credit card to pay for things like petrol or groceries, as well as regular expenses like your phone, without affecting your overall monthly budget.
- Every month, Equifax®, Experian®, and TransUnion® provide you with credit reports, which is critical for improving your credit score fast.
- You may set up email notifications to notify you of important dates, such as when your payment is due or when a credit or refund has been posted.
- It offers one of the most affordable yearly fees available.
- This isn’t a “starting card” in any way. All of the advantages of a Visa credit card are available with the OpenSky® Secured Visa®.
Pros
- Aids in the restoration of personal credit
- For a secured card, the APR is lower than usual.
Cons
- A deposit of $200 or more is required.
- There is a yearly charge for this service.
- Receive insurance for a damaged or stolen rental car up to the vehicle’s value with an auto rental collision waiver.
Why we like it:
If you have bad credit or no credit history, you are restricted in your choices. However, you don’t need a credit check to apply for the OpenSky® Secured Visa® card, and you may start establishing credit right away. You’ll have to pay a refundable deposit, which will set your card’s credit limit. You may pay the deposit using a money order or Western Union if you don’t have or qualify for a bank account. The drawbacks include a $35 yearly charge, no introductory rate, and no rewards program. However, since OpenSky reports to the three main credit agencies, Equifax, Experian, and TransUnion, you may improve your credit score by continuing to use the card and making on-time payments.
How Do We Assess Business Credit Cards With Instant Approval?
We looked at initial incentives, continuing rewards, introductory APR, ongoing APR, annual fee, and any other characteristics like perks and advantages to find the top fast acceptance business credit cards. Most small company credit cards, although not all, need a credit score of at least 670. For company owners with personal credit ratings below 670 or who wish to bypass a credit check, we provided two options: a credit card for fair credit and two secured credit cards.
Conclusion
If you’re considering applying for a business credit card with fast approval, be sure your credit score—poor, fair, good, or excellent—meets the card’s criteria. Other card characteristics that will suit your company requirements, such as initial incentives, continuing rewards, interest rate, and any other features that are essential to you and your business, should also be considered.
