The best instant or pre-approved business credit cards in December 2024

Business credit card pre-approvals aren’t as common as they are for personal credit cards, but they are possible. In some instances, you can receive pre-approval for a business credit card directly from the card provider’s website.

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Instead of waiting for pre-approval, you can also apply for cards that are known for their speedy approval times. In this article, we'll list our top business credit cards for fast approval, and explain how preapproval differs from instant and guaranteed approval.

5 best business credit cards with pre-approval or instant approval

Here are our top picks for business owners looking for credit card issuers with speedy account openings.

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The difference between pre-approval, guaranteed, and instant approval

Although these terms may appear alike, they have separate meanings and can affect your credit score differently. The difference largely comes down to when a hard credit check is pulled from the credit bureaus.

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A pre-approval is a business credit card offer directly from the provider, which often requires an existing relationship. It indicates you've met the initial requirements based on public data or a soft credit pull, which doesn't impact your credit score. A hard inquiry and underwriting occur after you submit the application, when the lender reviews your financials to decide if they'll issue you the card.

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Instant approval is an immediate decision after submitting your application, typically involving a hard credit check. In most cases, you’ll know if you got these cards within a minute or two. Just be aware that a hard credit inquiry will temporarily affect your credit score, so you shouldn’t apply for too many instant approval cards at once.

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Guaranteed approval credit cards are designed for consumers with limited credit history, fair credit, or bad credit who experience challenges with approval. These are typically secured business credit cards and require a security deposit that becomes your credit limit. They have much higher interest rates, but they offer a way to build your company's credit score if you've experienced financial hardships in the past.

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How long does it take to get approved for a business credit card?

While some business credit card applications are approved almost instantly, there are factors that may affect how quickly you receive a decision. Credit card companies must carefully examine both your business financial records and, in some cases, your personal credit score.

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Reasons you may not get approved instantly include:

• Discrepancies on your credit application vs. your credit report
• Entering inaccurate details in your application
• Having poor credit or frozen credit

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Ultimately, the speed of approval depends on the accuracy of your application and your creditworthiness.

Can you get a business credit card when you first start your business?

You can qualify for business credit cards when you first start your business by offering a personal guarantee. Just look for cards that use your personal credit history instead of an EIN number if you don’t have one yet.

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That said, it’s recommended to get an EIN number as soon as you start your business. You can start building your business credit score by applying for business credit cards with EIN instead of your personal SSN.

Ramp: a business credit card with hassle-free application

If you’re looking for business credit, consider Ramp and our hassle-free application process. Ramp offers sales-based underwriting, which means we put more emphasis on your company’s revenue than other factors, like credit history, which can help you access a higher credit limit than other cards.

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Ramp is an all-in-one finance automation platform that makes it easier to manage your business’s accounting, bill payments, and expense processes. Here’s an overview of our card features:

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• Unlimited cardholders: Get free access to all the employee cards you need.
• Spend controls: You give each employee their own spending limit. You can also decide what types of purchases they’re able to make and with what vendors.
• Automatic receipt matching: Ramp automatically tracks receipts and categorizes purchases, saving companies hours of accounting time each week.
• Cashback: Ramp offers cashback on purchases when you or your employees swipe the card.
• Real-time insights. Ramp's platform gives you the insights you need to save more money and make more strategic bets on your business.

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Looking for a small business card that gives you all the finance tools you need to take your business to the next level? Find out how Ramp can help your business.