Peter Carville asked:


If you own a small business, perhaps you’ve considered getting a business credit card, but you’ve been so busy working practically around the clock to get your business running smoothly, that you haven’t had time to apply for one.

Then you spot a fantastic deal on exactly the kind of laptop computer you need to allow you to do work wherever you are: in the field, at home, at the office, at the airport … and that makes you wish you had a business credit card right this minute. Well, sometimes you can get one that quickly.

You’ll have an easier time of it if your personal credit history is good to excellent. Many credit cards allow you to apply online and get approval in a matter of minutes. While it will take a few days for you to receive the actual card, you can use the account as soon as you’re approved in order to shop online. If you have a PayPal account, they offer such a credit card that can be approved in minutes. You can be using it to shop online the same day – subject to your credit limit, of course.

How do the companies offering these credit cards make a decision so quickly? They use computers. The computers make the decision based primarily on your credit score, plus matching up your address, phone number, and social security number. The credit card you get in the mail will tell you what credit limit you have been assigned. For the “shop instantly” instant business credit cards, you may not be given a very high credit limit at first, but the credit card company will make a final decision on your credit limit before mailing your cards to you.

Remember that when you sign for this new card, you are responsible for it. Any defaults will come back to you in the end. If you have too many credit cards, you can harm your credit rating. So getting a corporate card is definitely an increase in responsibility for you. But there are times when opportunities arise that you need to take advantage of quickly, and getting an instant approval business credit card can help you do that.

Keep in mind that you are not necessarily guaranteed a decision on your credit card in minutes. If you have a new home address or a credit history that is less than excellent, then you may have to wait for approval like with any other card.



Stephen