How to Get an Approval for an Instant Business Credit Card

Have your financials in order when you apply for a credit card for your business.
Have your financials in order when you apply for a credit card for your business. (Image: Comstock/Comstock/Getty Images)

Instant approval business credit cards are difficult to get: Your business must meet certain criteria, and economic upheaval in the 2000s have made bank reluctant to issue instant approval. While each bank or business credit card company may have different standards, all of them have the same basic requirements for issuing credit cards. To improve your chances of getting instant approval on business credit cards, you should plan ahead and be sure to keep a few key points in mind.

Make sure your business is registered for instant approval. The credit card companies and banks will request different proofs of business registration. Most will ask for an EIN, or Employer Identification Number. You can request one online at the Internal Revenue Service website. An instant approval business credit card will not ask for a personal Social Security number.

Have a business checking account in place. A registered business should have a bank account specifically for business purposes. Many business credit cards will ask for proof of a business checking account. Established accounts with good activity are more likely to help you get approval on a business credit card.

Know your business credit ratings and history. To get any type of business credit, you need a good rating and history. Your business must show that it has been on time with financial obligations and payments. Business credit card companies will look at whether your accounts are in good standing. The business credit card will base an instant approval on the amount of business debt, earning potential and creditworthiness.

Research your business credit options to find which business credit card you would like to apply for. Contact the banks to determine if they offer instant approval and whether you qualify.

Tips & Warnings

  • Look at the RESOURCES to learn more about a business secured credit card, invoice discounting, and invoice factoring.

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