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Hylobiz | How to get Pre-Approval Credit Cards for Businesses?

As a vehicle runs on fuel, in the same way, capital works as fuel for a business, and access to formal credit has always been a problem for small businesses in the recent past.

With the help of technological advancement, the gap is reducing. Fintech and banks are joining hands to solve this issue, where they’re working together with the fintech’s technology and bank’s experience. This partnership has helped banks to offer pre-approval credit cards to solve the pain points of an SME.

Today a businessman has many options available to fulfill his capital needs, but sometimes it becomes difficult to choose from many options.

Read more on the benefits of business loans:

So, here are a few points to consider before taking any credit product:

  • Check whether the credit limit provided to you is enough to meet your needs or not.
  • Compare the rate of interest between the available alternatives.
  • Also, find out whether the repayment schedule is flexible as per your needs or not.
  • Verify all the associated charges (annual charges, processing charges) before taking any credit.

From the above points in mind, we can conclude that the business credit card is the best and easy option available to small businesses because of its easy availability, minimal documentation, flexibility, rewards, and perks.

What is Pre-Approval Credit Cards?

Based on soft inquiry done by the lender with the credit bureaus, the bank or financial institution offers you a credit card with a pre-approved credit limit. Also, banks will apply some more screening/assessment processes before giving you the card.

Even after getting a promotional email of the pre-approved credit line, you’ll have to furnish your details with the lender to complete the process. It may require identity proof, a business deed, and a good credit score.

Let’s discuss in detail the benefits of having a pre-approved credit card:

Easy access

It is easy to get a pre-approved credit card because of its easy access and faster disbursal.

Interest-free credit period

With a business credit card, you enjoy an interest-free credit period, which helps you with positive cash flows for your business.

Sometimes the lender might charge a processing fee on every transaction, so ensure it before getting a card and make sure to pay your bills on time to save yourself from hefty interest rates.

Perks and rewards

Using a pre-approval credit cards has some more benefits than getting interest-free credit days. It rewards you with cashback/reward points on every spends. It also offers you deals and discounts on various websites/apps for your usage.

With business credit cards, you can automate your app subscriptions.

A business credit card comes with expense management, which helps you with better spending management.

 It also allows you to avail of add-on cards for your employees and helps in tax calculations, tax deductions, etc.

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Now, let us know about the parameters that can help us in getting a pre-approval credit cards for our business:

Credit score

Being a business, always focus on building a better credit score because it can open doors to numerous opportunities. It always helps in getting quick loans at cheaper rates with quick disbursements.

As a business, if you have a good credit score, it becomes easy for lending partners to assess your creditworthiness and to offer you the best offer according to your score.

Credit history

If you have a good credit history in the recent past, it can also help you with the best pre-approval credit cards from the banks. Because if you have a credit history and have not defaulted on any payment, it creates a good image of your business.

Based on your credit history, your credit limit is determined. So the card with the highest limit might not be the best for you. Therefore, You should compare all the factors while evaluating the best credit card for your business.

Business revenue

If you are generating generous revenue every year, it can be a boon for your business. Also, it will help you in getting a pre-approval credit cards pre-approved credit card because you will have data to support your numbers.


The chances of getting a pre-approval credit cards line are more when you’ve been running a business for the past few years. So, they are willing to offer credit to those who have a long business history.

Regulatory compliance

Being a business owner, always deal seriously and timely with all the regulatory compliances. It will always help in earning a good image for your business.

We at Hylobiz also aim to solve the problem of small businesses by maximizing efficiency in their businesses. Our solutions include invoicing,  inventory management, accounts receivable management, and API marketplace, where we offer different credit products at lower rates to our small business partners. If you’re looking for a credit card for business to fuel your business growth, sign up here:

Our financing feature offers you easy and quick credit options for your business. Avail of easy and quick business loans from our lending partners like Bajaj Finserv and Neogrowth credit private limited. Also, boost your cash flows by availing of bill discounting and SME credit card services on our platform.

Click to get loans from Bajaj Finserv:

We offer SME pre-approval credit cards in partnership with HDFC Bank, which allows you up to 50 days of interest-free credit period and cashback on bill payments, taxes, and more. This card helps in better business finance management and boosts your working capital.

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We also offer you the best invoicing option, where you can create an invoice of your choice, attach payment links on them, share them across your social media. Our platform automatically syncs your invoices from your ERP. Once, you will have to integrate your ERP with us for free of cost.

You also get digital ledgers with automated reconciliation for all your transactions on our platform, where you can chat with your buyers and sellers with us only. Also, automate your payments and collection with us.

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We expedite the collection of your payments by sending automated reminders to your customers. Also, manage your inventory digitally on our platform and get notified when an item is running low.

Our dashboard feature offers you a 360degree view of your business, with real-time updates on cash flows, business health, and insights into expenses. It helps you in better decision-making.

Read more on a new era of the financial sector with fintech:

Hylobiz is an ISO-certified organization and maintains bank-grade security. We apply strong encryptions at multiple levels to protect your data. Also, all your transactions are safe and secure with us with two-factor authentication.

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Hylobiz helps in improving the efficiency of your business. Sign up here:

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