An instant business credit card approved instantly upon application. There are advantages and disadvantages to this type of card. It’s clearly advantageous to get immediate credit, but it may be worth it to take some time and compare several credit card offers prior to applying.
People looking for an instant business credit card may have several choices in their search. They can speak to their local bank about issuance of a credit card. The result may be instantaneous if the business has an impeccable credit rating and is a long time bank customer. Other banks that issue a credit card may not have that much information on the business and would need to get approval prior to issuing a card. Usually the best way to get any form of quick response or instant credit card is to have extremely good credit.
It’s also possible to look online to find more than a few business credit card applications that can return a quick answer on credit. There are many different companies that offer these. Each may differ slightly in application and some may require the business owner credit information.
In fact, ads for business credit cards are slightly deceptive. Sites with a number of credit card offers often advertise they’re offering a card as a business card, and then an application comes up for a personal card instead. Since many owners want to avoid attaching personal credit history to the card, which is not as favorable in improving credit rating of a business, they may want to look carefully at applications to determine which ones would truly be for a business. This might take a little work, and even if the results of the application are instant, finding a good card to apply for may take time.
One of the purported advantages of the instant business credit card is that it can give people credit quickly. Usually however, it gives people a result about credit quickly and tells a business owner whether his or her application has been approved. It can still take a few weeks for a card to arrive, and people should read the terms very carefully when they receive the card. There may be a grace period in which they can cancel the instant business credit card if they don’t like the terms.
It’s better to decide before applying if an instant business credit card is the right choice for a company. If an application online doesn’t give all information including yearly fees, extra charges, full details on interest and/or perks, call the company first and ask, or ask them to email a document that contains all terms, prior to applying. Careful consideration of all the pros and cons of several cards makes good business sense even if it takes a little longer to do.