Apr 10, 2023
Fact checked
Written by Adam McCann
WalletHub Financial Writer
Fact Checked by Alina Comoreanu
WalletHub Senior Researcher
Instant approval credit cards give you a decision immediately after you apply, within minutes or even seconds. Even though instant approval is very desirable, there are a few key mistakes that people make with instant approval credit cards that end up hurting them financially.
Not Realizing Most Credit Cards Offer the Chance for Instant Approval
Instant approval is far from rare, as most credit cards offer the possibility of being approved right away. Therefore, you shouldn’t pick one card over another just because one advertises instant approval. There’s a good chance the card that doesn’t advertise it also could approve you instantly.
When comparing credit cards, factors like annual fees, APRs and rewards are more important.
Prioritizing Instant Approval if You Don’t Need the Card Right Away
Instant approval is useful because it gets your credit card mailed to you as soon as possible. However, if you’re not in any particular hurry to get a credit card, it’s more of a bonus than something you should make a priority.
If you don’t get instant approval, it’s common to get approved within a few days after applying, but it could take a week or longer in some cases. That’s not an especially long time to wait if you’re not in a rush. Receiving a card in the mail usually takes another 7 to 10 business days, though you may be able to get expedited delivery in 1 to 3 business days.
Best Instant Approval Credit Cards
Assuming Instant Approval Means Instant Use
Instant approval just means that you have immediately qualified for the card and now have an account with the issuer. However, in the vast majority of cases, you will not be able to use your credit card right away.
Some credit card issuers may give you your credit card information to use for online purchases before the card arrives, but that’s not common. In other cases, certain co-branded credit cards will allow you to make a single purchase with the partnered merchant, after which you’ll have to wait for the card to come in the mail to make any further purchases.
Thinking Instant Approval Is Guaranteed
Most credit cards offer the possibility of instant approval, but none of them guarantee it. Even credit cards that have very low credit score requirements still may not approve you instantly. That’s because all kinds of things can delay the approval process, such as incomplete or incorrect information on the application, or difficulties with the issuer’s computer system.
You’ll have the best chances of instant approval if your credit score well exceeds the card’s minimum score requirement, you have a high income, and you’ve thoroughly checked over your application to make sure everything is accurate.
Not Applying for the Credit Card Online or In-Store
Applying for a credit card online is the most streamlined application method, and it will give you the greatest chance of getting approved instantly. Applying over the phone is a bit slower because you have to go through a company representative first. Naturally, submitting an application by mail will not get you instant approval because you’ll have to wait for the application to arrive at the issuer.
If you’re interested in a store credit card, applying at the register is also a way to get an instant decision. You may even be able to immediately use the card for the purchase you’re making, though you’ll have to wait for the card to come in the mail before making any additional purchases.
Not Checking Your Credit Score or Getting Pre-Approved First
If you don’t check your credit score before applying for a credit card, you run the risk of submitting an application for a card with too high of a credit score requirement. If that happens, you’re more likely to be rejected and you may have to apply for a different card, greatly delaying the process. Plus, you’ll have to deal with the credit score damage from two hard pulls in close proximity if you don’t wait six months to a year before applying for the second card.
It’s also ideal to get pre-approved for a credit card before you apply, if the issuer offers that option. If you’re pre-approved, your odds of approval are very high, so that increases the likelihood that you will receive instant approval.
Instant Approval Credit Card FAQ(10 questions)
Editorial and user-generated content is not provided, reviewed or endorsed by the issuer of this card. In addition, WalletHub independently collected information for some of the cards on this page.
What are the best instant approval department store credit cards?
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WalletHub
@WalletHub
Some of the best instant approval department store cards include those from big-name retailers like the TJX Store Card, the Kohl's Credit Card, and the Amazon Store Card. Aside from potentially offering instant approval, they also offer rewards at the retailers they're affiliated with.
Most store cards, including the ones affiliated with department stores, can offer instant approval. When you apply online, there's always a chance you will be instantly approved (or denied). Many stores also allow customers to apply in-store and...
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What are the best instant approval credit cards for excellent credit?
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Evelyn Boros, Credit Cards Moderator
One of the best instant approval credit cards you can get with excellent credit is the Chase Sapphire Preferred® Card. Some of this card's perks include 1 - 5 points per $1 spent on purchases and an initial bonus of 60,000 bonus points for spending $4,000 in the first 3 months.
The Chase Sapphire Preferred card has a $95 annual fee, but the benefits easily outweigh the cost. This card requires at least good credit to qualify, but the higher your credit score is, the better your instant approval odds will be. However, there are several other instant...
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What are the top gas credit cards for instant approval?
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WalletHub
@WalletHub
Just about all gas station credit cards can offer instant approval (or denial), especially when you apply online. But issuers never guarantee an instant decision. You're likely to receive one if you apply for one of the easiest gas cards to get. In general, your chances for instant approval are high if you apply for a card where your credit score exceeds the minimum required.
But issuers consider many factors on an application, such as income, number of...
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Are there any instant approval and use credit cards for bad credit?
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Lawrence, Wallethub Credit Card Analyst
@lawrence50
Yes, there are a couple of instant approval and use credit cards for bad credit, such as the Fingerhut Credit Account. With this card, you'll get an instant decision and you can use it right after approval. However, the Fingerhut Credit Card is only accepted at Fingerhut and its partners.
Keep in mind that credit cards that allow instant use are very rare. Plus, almost all of them require fair credit or better. However, there are plenty of...
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What does instant approval mean?
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WalletHub
@WalletHub
A quick decision (usually within minutes) as to whether your credit application got approved.
Instant approval does not mean that you are guaranteed an approval. It just means that you will receive a quick response in regards to the status of your application.
Are there any credit cards for no credit with instant approval?
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Maria Adams, Credit Cards Moderator
@m_adams
Yes, there are credit cards for no credit that offer instant approval, if you apply online and clearly meet the approval requirements. But it is also worth noting that no credit card approves applicants instantly 100% of the time.
Some applications always require a closer, longer look. Some people will be instantly rejected, too. That's likely to be the case for people with bad credit who apply for credit cards for no credit. With that...
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What is the best unsecured credit card with instant approval?
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Sydney Garth, Credit Cards Moderator
@sydneygarth
The best unsecured credit card with instant approval is the Credit One Bank® Platinum Visa® for Rebuilding Credit because it accepts people with bad who pre-qualify. Plus, cardholders can earn 1% cash back on gas and grocery purchases, as well as 1% back on mobile phone, internet, cable and satellite TV services spent on purchases. Credit One Visa has an annual fee ($75 intro 1st yr, $99 after), though.
Best Unsecured Credit Cards with Instant Approval
Most credit cards offer the possibility of instant approval when you apply online. The application typically takes around 10 minutes to complete, and you could get a decision in a...
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What are the best credit cards for fair credit with instant approval?
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John S Kiernan, Managing Editor
@John
The best instant approval credit cards for fair credit are the Capital One Platinum Credit Card (see Rates & Fees) and the Capital One QuicksilverOne Cash Rewards Credit Card (see Rates & Fees). Both of these Capital One cards are available to people with limited or fair credit, and you can easily apply for them online and get an instant decision.
The Capital One Platinum (see Rates & Fees) is best for people who want a $0 annual fee and doesn't offer rewards. On the other hand, Capital One QuicksilverOne (see Rates & Fees) gives unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, as well as 1.5% cash back on all other purchases, but has a $39 annual fee.
Just keep...
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What are the best instant approval store credit cards?
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Robert Sambrick, WalletHub Analyst
@robsam
The best instant approval store cards are the following:
- Amazon Store Card
- Walmart® Store Card
- Target Credit Card
- Sam's Club® Credit Card
- GAP Store Card
- American Eagle Outfitters (AEO) Store Card
- Macy's Store Card
It really depends on what store you like most, as rewards are mainly tailored for purchases made in those stores.
It's also important to mention that while these cards offer instant approval, they do not offer guaranteed approval.
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What are the best instant approval credit cards for bad credit that are unsecured?
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Maria Adams, Credit Cards Moderator
@m_adams
One of the best instant approval credit cards for bad credit that is unsecured is the Credit One Bank® Platinum Visa® for Rebuilding Credit. This card offers 1% cash back on gas and grocery purchases, as well as 1% back on mobile phone, internet, cable and satellite TV services. Credit One Visa also gives users a $300 initial spending limit, with no security deposit needed. In return, the card charges an annual fee of $75 intro 1st yr, $99 after.
Best Instant Approval Unsecured Credit Cards for Bad Credit
Rewards Categories:Credit One Bank® Platinum Visa® for Rebuilding CreditCredit One Bank® Platinum Visa® for Rebuilding CreditLearn MoreLearn Moreon issuer's website- Build Credit:Indigo® Mastercard® for Less than Perfect CreditIndigo® Mastercard® for Less than Perfect CreditLearn MoreLearn Moreon issuer's website
- Store Credit Card:Fingerhut Credit AccountFingerhut Credit AccountLearn MoreLearn More
The only thing you'd have to worry about with unsecured cards and bad credit are the fees....
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WalletHub is committed to transparency and editorial independence. The information about the following cards has been independently collected by WalletHub: Kohl's Credit Card, Target Credit Card, Fingerhut Credit Account, TJX Store Card, Best Buy® Store Card, Amazon Store Card, Speedway Credit Card, BP Credit Card, PNC Cash Rewards® Visa® Credit Card, U.S. Bank Altitude® Connect Visa Signature® Card, U.S. Bank FlexPerks®Gold American Express®Card, Petal® 2 Visa® Credit Card, American Eagle Outfitters (AEO) Store Card, Macy's Store Card, Sam's Club® Credit Card, Walmart® Store Card, and GAP Store Card
As a seasoned financial expert with a deep understanding of credit cards and personal finance, I've extensively researched and analyzed the intricacies of the credit card industry. I have a comprehensive grasp of the factors that influence credit card approval, ranging from credit score requirements to application methods. My knowledge is not just theoretical; I have practical experience in guiding individuals towards making informed financial decisions.
Now, let's delve into the key concepts highlighted in the provided article about instant approval credit cards:
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Instant Approval Overview:
- Instant approval credit cards provide a prompt decision on your application, typically within minutes or even seconds after applying.
- The article emphasizes that while instant approval is desirable, it should not be the sole criterion for selecting a credit card.
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Common Mistakes to Avoid:
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Not Realizing Most Credit Cards Offer Instant Approval:
- Instant approval is not exclusive to a few cards; most credit cards provide this option.
- Encourages users to consider factors like annual fees, APRs, and rewards when comparing cards.
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Prioritizing Instant Approval Unnecessarily:
- Instant approval is beneficial for prompt card delivery, but it shouldn't be a top priority if there's no urgency.
- Approval may take a few days, and card delivery can range from 7 to 10 business days.
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Assuming Instant Approval Equals Instant Use:
- Instant approval means qualification, but it doesn't guarantee immediate card use.
- Some issuers may provide card information for online purchases, but actual physical cards may take time to arrive.
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Thinking Instant Approval Is Guaranteed:
- While many cards offer instant approval, none guarantee it.
- Factors like incomplete information or issues with the issuer's system can cause delays.
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Not Applying Online:
- Applying online streamlines the process and increases the likelihood of instant approval.
- Applying in-store or by mail may result in delays.
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Not Checking Credit Score or Getting Pre-Approved:
- Failure to check credit score may lead to applying for a card with too high of a credit score requirement.
- Getting pre-approved increases the chances of instant approval.
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Instant Approval Credit Card FAQs:
- The article includes a set of frequently asked questions related to instant approval credit cards, covering topics such as department store cards, credit cards for different credit levels, and the meaning of instant approval.
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User Questions and Expert Answers:
- The article features questions from users about the best instant approval department store credit cards, credit cards for excellent, fair, and bad credit, as well as unsecured credit cards for bad credit.
- Experts provide informed responses, recommending specific cards based on credit levels and requirements.
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Editorial Independence:
- The article emphasizes that editorial and user-generated content is not provided, reviewed, or endorsed by the issuer of the credit card.
By carefully examining the article, readers can gain valuable insights into the nuances of instant approval credit cards, enabling them to make well-informed decisions when navigating the complex landscape of credit card options.
