Do you need a new card and line of credit as soon as possible? There is no time to wait for the application process, which can take a week or more. Fortunately, there are instant approval credit cards that may be exactly what you are looking for. However, instant approval cards are a controversial thing.
With the advancement of digital technology, things seem to have gotten faster and faster. Not only can you get movies and music instantly from anywhere, but you can also deliver everything from food to furniture in less than an hour in most major cities.
Given that so much can be obtained so quickly, it is natural to desire the same results when you apply for a new credit card. At least you expect same day delivery, right?
But while you can often get approval on the same day, only a few issuers offer one-day credit cards with instant use numbers. You may have to settle for the next best option and take advantage of expedited shipping to get your hands on your card in a hurry.
In the article below, we take a look at how our experts have selected the best credit cards to date with a range of credit ratings approved on the same day.
What are instant approval credit cards?
There are two main types of instant approval cards:
Sometimes a credit card application requires additional verification. There may be a questionable element on your credit reports, or your address may not be fully verified.
In this case, the decision may take from several days to a couple of weeks.
Credit cards with instant approval
If you don't have good credit, you won't be able to qualify for the best cashback and travel passes. But all of the above about instant approvals still applies to credit cards for fair and bad credit history.
Here are some of our picks of the best instant approval cards for fair or average credit, followed by cards for bad or zero credit.
Instant approval cards for fair or medium credit
1. Best for flat rate cashback returns
Capital One® Journey® Student Awards
2. Best for transferring the balance
NFCU Platinum Credit Card
3. Best for students
Discover it® Student Cashback
4. Best for Small Business Owners
Capital One® Spark® Classic for Business
Instant approval cards for bad or no credit history
1. Best for Rewards, No Annual Fee
Discover it® Secured
2. Best for a low security deposit
Capital One® Secured Mastercard®
3. Best if you don't need a bank account
Citi® Secured Mastercard®
Bottom line
Instant approval does not always mean instant approval. Depending on your creditworthiness, you can get an instant decision on most cards, approved or rejected.
In some cases, it can take longer to process your application and may take up to a week or two before you receive a decision.
With the advancement of digital technology, things seem to have gotten faster and faster. Not only can you get movies and music instantly from anywhere, but you can also deliver everything from food to furniture in less than an hour in most major cities.
Given that so much can be obtained so quickly, it is natural to desire the same results when you apply for a new credit card. At least you expect same day delivery, right?
But while you can often get approval on the same day, only a few issuers offer one-day credit cards with instant use numbers. You may have to settle for the next best option and take advantage of expedited shipping to get your hands on your card in a hurry.
In the article below, we take a look at how our experts have selected the best credit cards to date with a range of credit ratings approved on the same day.
What are instant approval credit cards?
There are two main types of instant approval cards:
- Conventional Credit Cards: Almost every credit card offers an instant approval option - depending on your creditworthiness.
- Credit Cards with “Guaranteed Approval”: Some sub-prime credit cards, aimed at people with or without bad credit, offer “guaranteed approval” without a credit check.
Sometimes a credit card application requires additional verification. There may be a questionable element on your credit reports, or your address may not be fully verified.
In this case, the decision may take from several days to a couple of weeks.
Credit cards with instant approval
If you don't have good credit, you won't be able to qualify for the best cashback and travel passes. But all of the above about instant approvals still applies to credit cards for fair and bad credit history.
Here are some of our picks of the best instant approval cards for fair or average credit, followed by cards for bad or zero credit.
Instant approval cards for fair or medium credit
1. Best for flat rate cashback returns
Capital One® Journey® Student Awards
- Anyone can apply, student or not
- 1% money back for every purchase
- 1.25% money back when you pay on time
- No annual fee
2. Best for transferring the balance
NFCU Platinum Credit Card
- 0% initial annual rate for balance transfers within 12 months, for transfers requested within 30 days, followed by 7.49% –18.00% variable
- No commission for balance transfer
- No annual fee
3. Best for students
Discover it® Student Cashback
- 5% cashback refund in bonus reward categories that change every 3 months (up to $ 1,500 per quarter, activation required)
- Double all cashback earned in the first year
- Purchase per year:
- Annual interest rate on balance carry-over
- No annual fee
4. Best for Small Business Owners
Capital One® Spark® Classic for Business
- Cashback 1% for each purchase
- No annual fee
- Reports card activity to Dun & Bradstreet, Experian Business, Small Business Financial Exchange and Consumer Credit Bureau.
Instant approval cards for bad or no credit history
1. Best for Rewards, No Annual Fee
Discover it® Secured
- 2% cashback at restaurants and gas stations, up to $ 1,000 for purchases per quarter
- Double cashback for the first year
- Deposit from $ 200 to $ 2,500
- No annual fee
2. Best for a low security deposit
Capital One® Secured Mastercard®
- You can automatically get a higher line of credit after six months.
- Deposit from 49 to 200 dollars
- No annual fee
3. Best if you don't need a bank account
Citi® Secured Mastercard®
- Deposit from $ 200 to $ 2,500
- No annual fee
- You can apply without a bank account by visiting Citibank in person.
Bottom line
Instant approval does not always mean instant approval. Depending on your creditworthiness, you can get an instant decision on most cards, approved or rejected.
In some cases, it can take longer to process your application and may take up to a week or two before you receive a decision.