3 Steps for an Instant Approval Business Credit Card

Instant approval business credit cards can provide a company the buying leverage they need without the worries that accompany waiting on an answer. This type of credit card is commonly procured because of the expedient approval process.  An instant approval business credit card involves a process that invovles careful attention to detail.  It is important to avoid applying for a card that includes terms that are not in a company’s best interest. To ensure the selection of a good instant approval business credit card, see the following three easy steps:

Step 1 – Review Credit Standing

Getting an instant approval business credit card with favorable terms often hinges on the credit standing of the business. To increase approval odds and to select the right offer, review these things:

  • Credit score
  • Credit reports for the business; if errors are present correct them well in advance of application
  • Income versus debt ratio for a business

Step 2 – Shop Around For Offers

Not all instant approval business credit card offers are alike. It is imperative to take a look at the offers closely and the features the cards have to offer. The information that should be carefully scrutinized include:

  • The introductory interest rate versus the regualar rate of the card.  The introductory period is usually a short time period, so the more important rate would be the regular rate.  Make sure the rate offers are as low as possible considering credit ratings.
  • Ask about rewards offers, cash-back bonuses, travel rewards and other incentives the card may offer.  The savings can add up and can be important to a business.
  • Ask about credit limits.  First, you should select a targeted limit amount you are interested in, then you can search for instant approval credit card offers that fall into the appropriate range. If the credit rating is good and income is reasonable, a business should find a fair amount of leverage.
  • Ask about other terms.  Pay attention to the fine print on the credit card offers and look for such things as restrictions and limitations. Cards should not have annual fees unless there is a problem with payments once an account is established.

Step 3 – Apply For The Card

Once an acceptable offer is selected, the last step in the process is the application itself. Most companies that offer instant approval credit cards provide several ways to complete their application, such as:

  • Online applications
  • Over-the-phone applications
  • Mail-in applications

Online and phone applications will typically provide approval or denial notifications almost immediately. Mail-in offers might take a few weeks to process, but will typically be fast-tracked.

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