When you apply for a credit card online, it’s not uncommon to receive approval within 60 seconds or less. Once your application is approved, you’ll typically receive your credit card in the mail within a week or two.
An instant approval credit card has an application that returns a decision within a few minutes or less. Applications are typically online and take around 10 minutes to complete.
Typically instant approval credit cards are aimed at those with good to excellent credit scores. Even if you meet the basic eligibility requirements and have an excellent credit score, there are a number of reasons your application may be declined. An instant approval credit card doesn’t mean your approval is guaranteed.
While it varies between credit cards, you’ll typically need to meet the following requirements:
Your approval time for these credit cards will depend on the information you provide. Usually, a decision is instant or near instant, and you’ll receive it via email within a few minutes of completing your application. In some cases, more information will be required and it may take longer (sometimes up to a few days). Before applying, be sure you meet the eligibility requirements for the credit card.
Most banks and credit card issuers allow you to apply for credit cards online. The credit card provider can access the online national credit bureaus – Equifax and TransUnion – and calculate its response using your credit status almost instantly. It’s only when there’s an issue with your application or credit history that it might take longer than 60 seconds for the issuer to process.
Applying for a credit card online also has some security benefits. Your application will be protected by 128-bit encryption and an online application is easier to track, reducing the chance of lost documents.
Like any other credit card application, though, your approval will depend on your credit history, income and the information you included in your application.
An instant approval credit card is an easy way to apply online and receive your credit card as soon as possible. To improve your chances of instant approval though, there are a few steps you’ll need to take to make sure you’ve completed your application properly.
As you can apply for most credit cards online and offer instant approval within 60 seconds, it’s important to compare your options before applying. Rather than basing your decision on the fact that you could potentially receive approval within 60 seconds, make sure to consider the following:
Make sure you can afford the card and that it offers the extra features you need to manage your credit.
While you could receive approval within 60 seconds, you won’t receive approval at all if you don’t meet the eligibility requirements. Some of the criteria you’ll be expected to meet include:
When you apply for a credit card online, you’ll be required to attach a number of documents and provide some personal information to receive instant approval. Some of the personal information you’ll need to provide includes:
To ensure a smooth and quick application process, make sure you have these details on hand before you begin your application.
Once you’ve compared your credit card options, made sure you meet the eligibility criteria and organized the necessary documents, you can select the ‘Go to Site’ button to begin your secure online application. This should only take around 10 to 15 minutes if you have all of the relevant details handy. Once you’ve submitted your application, you should receive your response within 60 seconds. You’ll either be approved, rejected or, if the bank needs to investigate a detail of your application in further detail, left pending.
You’ll only receive instant approval for a credit card if you meet the eligibility requirements and provide all of the relevant documents. Not having a qualifying credit score or being unable to meet the eligibility requirements will ban you from approval.
Bad credit history can potentially be fixed — you can work on improving your credit score, or consider an alternative credit card specifically designed for applicants with bad credit.
Rejected applications can hurt your credit score even further, so it’s important to consider these conditions before applying.
If your application is rejected, you shouldn’t apply for another credit card straight away. Applying for several credit cards in a short period and having rejected applications on your credit file can further damage your credit score.
Instead, you might want to try the following:
You can use our guide on reasons why your credit card might have been declined to get started.
Instant approval credit cards are an easy way to apply for a credit card online and get your credit card sooner. As instant approval credit cards still require you to meet the relevant eligibility requirements, it’s important to compare your options and prepare your application before submitting it to improve your chances of approval.
