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Instant Approval Credit Cards


Instant Approval credit cards, Instant Approval credit card reviews and credit card application details.

Instant approval credit cards are often offered online and qualifying applicants receive notification of acceptance by email within minutes of completing the online application. While the process is very quick, likely applicants are those with a very good or excellent credit score. Credit card issuers may take more time to approve applications depending on the individual circumstances.

In Canada, instant approval credit cards are available from a variety of issuers. MBNA, Shoppers Optimum, and Capital One offer such cards. While approval may be instant, the actual card will be mailed and usually takes between 1 and 2 weeks to arrive. Customers with excellent and good credit rating are subject to instant approval and enjoy a variety of benefits such as rewards programs, online services, and introductory interest rate as low as 0 percent.

The Shoppers Optimum Mastercard is on offer with an introductory interest rate of 1.99 percent on balance transfers for the first 6 months, fixed interest rate of 19.99 percent, no annual fee, and around-the-clock fraud protection. The Platinum Plus MasterCard Credit Card goes with annual interest rate of 17.99 percent, no annual fee, and online access to the credit card account. Clients with very good credit rating are likely applicants.

With Capital One, clients can choose between Capital One Gold MasterCard and SmartLine Platinum MasterCard. The Gold MasterCard goes with an interest rate of 9.9 percent, annual fee of $49, cash back and rewards programs. The card is a good choice for clients with a minimum household income of $30,000 who carry a monthly balance. Among the benefits that go with the card are extended warranty, baggage delay insurance, 0 fraud liability, and more. The SmartLine Platinum MasterCard is another option, going with a low interest rate of 5.99 percent on purchases, 19.8 percent on cash advances, and no annual fee. Likely applicants have a minimum household income of $40,000 and carry a balance. Benefits include purchase assurance, travel accident insurance, MasterAssist Travel Assistance, extended warranty, and others. Applications take 5 – 10 minutes to complete, and customers receive a response in just 30 seconds. Those who have applied for a credit card within the past 45 days will not be considered.

With instant approval or quick decision cards, the information clients fill in on the application is verified automatically. The applicant’s credit file and credit score are checked before approval is granted.

Those who have excellent or poor credit history are easy cases for the issuer. The decision to approve or decline the application can be made straight away. However, most people have average credit ratings that cannot give credit card companies real guidance on whether to decline or approve the application instantly. In those cases, a human reviewer looks at the application and makes the final decision. The application process may take a couple of days as opposed to 60 seconds, as featured by issuers.

Instant approval is granted only if the card issuer can verify the information on the application. For example, if the applicant has recently moved from Ontario to Quebec, the application can take longer before it is approved or declined. Delays are possible if the applicant has changed his/ her workplace or name (e.g. has married). It is important to double check the information on the application as to make sure it will be processed without any delay. Giving false information can result in immediate rejection of the application.

It should be mentioned that issuers have different requirements and eligibility criteria. Some issuers offer instant approval credit cards to persons with bad credit history and students. The offered card may be a prepaid one, meaning that the applicant should deposit funds into the card account. If a security deposit is required, the transaction has to take place before the credit card issuer has mailed the card.

When are instant approval credit cards necessary? If you have to buy something and have reached the limit on your cards, you can apply for a credit card online and hope for instant approval. Some issuers promise instant delivery as well, so you can use the card to cover emergency expenses.



NameTypeInterest RateAnnual Fee
Shoppers Optimum Mastercard MasterCard19.99%$0
Capital One Gold MasterCardMasterCard9.99%$49
Capital One Cash Back Gold MasterCardMasterCard19.8%$0
Capital One Guaranteed Secured MasterCardMasterCard19.8%$59
MBNA Canada Platinum MasterCardMasterCard17.99%$0