Editor’s note: This is a recurring post with regularly updated card details.
When you’re comparing instant approval business credit cards, consider the goal you want to accomplish. If you want to build or repair your credit, a secured card can help you get there. If your goal is fast financing and ongoing rewards, select a rewards program that would benefit you the most: cash back, points, or miles. While the thought of a credit card you can use immediately sounds appealing, be sure that it’ll fulfill your business needs in the long run. Here’s our pick for the best instant approval business credit cards:
- Chase Ink Business Unlimited®: Best overall for instant approval
- American Express Blue Business CashTM: Best for easy rewards
- Capital One® Spark® Classic for Business: Best for fair credit
- Wells Fargo Business Secured Credit Card: Best for business owners with poor credit
- OpenSky® Secured Visa® Credit Card: Best for no required credit check
Chase Ink Business Unlimited®
Ink Business Unlimited® Credit Card
BEST FOR
Pocketing 1.5% cash back on every single purchase
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
Pros
- 0% introductory APR on purchases
- Unlimited cash back rewards on all purchases
Cons
- Introductory APR period doesn’t apply to balance transfers
- 5% balance transfer fee
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes; it provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the US and abroad
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of three years or less
Why we like it: The Chase Ink Business Unlimited® card is the best overall instant approval card, with 1.5% cash back on any purchase and no cap or annual fee. If your business purchases don’t fall into just two or three categories, this may be the best card for you since you can use it for all your purchases without worrying about limits or restrictions. It also offers a 0% introductory annual percentage rate (APR) on purchases for the first 12 months. Plus, earn $750 cash back when you spend $7,500 on purchases in the first three months after opening an account.
To qualify for this card and obtain these perks, you’ll need a good to excellent credit score as Chase will perform a personal credit check to make their decision.
American Express Blue Business CashTM
American Express Blue Business Cash™ Card
BEST FOR
Earning 2% cash back every time you swipe and 0% introductory annual percentage rate (APR) for 12 months
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, 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 to American Express and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 13.24% - 19.24%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- No interest for 12 months
- Earn consistent 2% cash back rewards on every purchase
Cons
- Offers no cash sign-up bonus
- 2% cash back category is capped at $50,000 in annual spending
- Extended warranty protection: American Express provides up to an additional year of coverage on warranties of up to 5 years. Coverage is limited to $10,000 per occurrence and $50,000 per account each year.
- Purchase protection: The issuer will repair, replace, or reimburse you for an item purchased with the card that was damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per occurrence and $50,000 per account each year.
- Baggage insurance: If your luggage is damaged or lost when you travel on a common carrier, such as a plane, trip, ship, or bus, American Express will reimburse you for losses not covered by your own personal insurance.
Why we like it: This card has straightforward cash back rewards that make it so easy. Earn 2% cash back on all eligible purchases up to $50,000 per calendar year, then 1% after that. It offers a 0% APR for the first 12 months, a low interest rate, and no annual fee. On our list of best small business credit cards, this card wins for best overall.
As a nice welcome bonus, earn a $250 statement credit after you spend $5,000 in qualifying purchases within the first six months and earn an additional $250 statement credit after you spend an additional $10,000 or more in qualifying purchases within the first year.
Just like the Chase Ink Business Unlimited® card, you’ll need a good to excellent credit score for American Express to approve your application. Nearly all American Express business cards offer instant card numbers upon approval, so you can start making purchases without delay. We consider this to be one of the best small business credit cards.
Capital One® Spark® Classic for Business
Capital One® Spark® Classic for Business
BEST FOR
Fair credit business owners (580 to 669)
- 1% cash back every time you swipe
- Build your business credit through responsible usage
- Issue employee cards for free
Pros
- Opportunity to build business credit
- Earn fixed-rate rewards even with fair credit scores
- Rewards never expire
Cons
- High APR
- No sign-up bonus
- Reports to personal credit bureaus
- Purchase protection: Capital One will replace, repair, or reimburse you for eligible items in the event of theft or damage within the first 90 days of purchase.
- Extended warranty protection: You’ll get additional warranty protection on eligible items that are purchased with your business card, up to 1 year past the manufacturer’s warranty.
- Auto rental collision damage waiver: You’re covered for damage due to collision or theft when you rent an eligible car with your Capital One® Spark® Classic for Business card.
Why we like it: The Capital® One Spark® Classic offers no rewards, but if you have a limited credit history, this card might be a good choice. It offers 1% cash back on all purchases and no annual fee. The purchase APR is high at 26.99% with no introductory rate, but if you’re able to pay off the balance entirely at each billing cycle, this card can help start your business and build credit history.
Capital One will pull your personal credit to determine approval, but you only need a fair credit score to be approved. Also, nearly all Capital One card approvals result in an instant card number. It’s also a good choice if you have bad credit and need help to rebuild and repair it.
Wells Fargo Business Secured Credit Card
Wells Fargo Business Secured Credit Card
BEST FOR
Business owners with poor credit
- Cash Back option: Earn 1.5% cash back on every $1 spent
- Reward Points option: Earn 1 point on every $1 spent and receive 1,000 bonus points when your company spend is $1,000 or more in any monthly billing period
- $0 annual rewards program fee
- $500 to $25,000 credit line
- Zero liability protection
Pros
- Approval with credit scores below 580
- Your choice of fixed-rate cash back or points rewards
Cons
- Requires a security deposit of at least $500
- Has an annual fee
- Purchase Assurance: Wells Fargo will repair, replace, or reimburse you for items that are damaged or stolen within 90 days of purchase.
- Design Studio: Include a personal image or business design on your credit card.
Why we like it: If you have little to no credit history or have had difficulty building credit, a secured credit card could be your best bet. You’ll need a Wells Fargo business checking or savings account to apply online for this card. A personal credit check will be performed when you apply. When you’re approved, funds will be transferred from your deposit account to the credit card, and those funds will be your credit limit. As with any other business credit card, you’ll need to make regular monthly payments on time.
Similar to the Wells Fargo Business Platinum card, there’s no annual fee, and you can choose your rewards program: cash back or points. If you select cash back, you get 1.5% cash back on qualifying purchases. With points, you get one point for every dollar spent plus an additional 1,000 points every billing cycle if your business spends $1,000. Keeping your account in good standing with on-time payments could lead to eligibility for a nonsecured Wells Fargo credit card. It’s one of our choices for the best easy approval business credit cards.
OpenSky® Secured Visa® Credit Card
OpenSky® Secured Visa® Credit Card
BEST FOR
Business owners with a credit score below 580
- We don't pull your credit when you apply — so there’s no impact on your credit score.
- Your credit limit is defined by your refundable deposit, as low as $200 and up to $3000. You’re the one who decides what’s best for you.
- Use your card to make purchases like gas or groceries, or for recurring bills like your phone, without changing your total monthly budget.
- Equifax®, Experian® and TransUnion® get reports every month — that's important to help you quickly improve your credit score.
- You can set up email alerts to act as reminders, like when your payment is due or when a credit/return has posted.
- It has one of the lowest annual fees you'll find.
- This isn't some sort of a "starter card." The OpenSky® Secured Visa® delivers all the benefits of a Visa credit card.
Pros
- Helps rebuild personal credit
- Lower than average APR for a secured card
Cons
- Requires a deposit of $200 or more
- Comes with an annual fee
- Auto rental collision waiver: Receive protection for a damaged or stolen rental vehicle, up to the value of the vehicle.
Why we like it: When you have poor credit or no credit history, your options are limited. But with the OpenSky® Secured Visa® card, there’s no credit check required to apply, and you can start building credit immediately. You’ll need to provide a refundable deposit, which will determine your credit limit on the card. If you don’t have or don’t qualify for a bank account, you can pay the deposit with a money order or Western Union. The downside is that there’s a $35 annual fee, no introductory rate, and no rewards. However, OpenSky reports to the three major credit bureaus, Equifax, Experian, and TransUnion, so as you continue to use the card and make on-time payments, you can grow your credit score.
How We Evaluate Instant Approval Business Credit Cards
To determine the best instant approval business credit cards, we considered introductory rewards, ongoing rewards, introductory APR, ongoing APR, annual fee, and any additional features such as perks and benefits. Most small business credit cards require a credit score of at least 670, but not all do. We included two options—a credit card for fair credit, and two secured credit cards—for business owners with personal credit scores below 670 or those who want to avoid a credit check.
Bottom Line
If you’re thinking of applying for an instant approval business credit card, be sure that your credit score—poor, fair, good, or excellent—aligns with the card’s requirements. Also, factor in other card details that will meet your business needs, such as introductory rewards, ongoing rewards, the interest rate, and any other features that are important to you and your business.
