Best credit cards in Canada with instant approval
Need credit in a snap? Compare credit cards that offer a response in 60 seconds or less, learn about eligibility criteria and apply online in 4 easy steps.
When you apply online for an instant approval credit card in Canada, you can be approved in under a minute. If approved, you’ll typically get your card in the mail within 1-2 weeks. Some of these instant approval credit cards let you begin using the card right away. Compare popular credit cards in Canada with instant approval and learn the 4 easy steps to apply in our guide below.
8 credit cards in Canada with instant approval in 60 seconds or less
| Annual fee | Purchase rate | Cash advance rate | Min credit score | ||
|---|---|---|---|---|---|
$0 | 20.99% | 22.99% | 650 | ||
$0 or $9.99 | 19.99% - 31.99% (up to 25.99% in NL & QC) | Varies | 640 | ||
$0 | 21.99% | 23.99% | 660 | ||
$12.99/month | 21.99% | 21.99% | 700 | ||
$0 | 20.95% | 22.95% | 600 | ||
$0 | 20.95% | 22.95% | 600 | ||
$0 | 21.99% | 22.99% | 600 (typically) | ||
$0 | 20.99% | 22.99% | 600 (typically) |
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Key takeaways
- An instant approval credit card in Canada is a card for which you can apply and receive a decision in minutes or less.
- Many financial institutions offer credit cards in Canada with instant approval, including BMO, RBC, TD, Tangerine, CIBC, AMEX and Neo.
- To get an instant approval credit card, compare your options to find one with suitable fees and features. Then check the eligibility requirements, collect your information and apply online.
What are credit cards with instant approval?
An instant approval credit card has an application that returns a decision within a few minutes or less. Typically these are some of the easiest credit cards to get approved for in Canada. Applications are online and usually take around 10 minutes to complete.
Credit cards with instant approval are mostly 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 in Canada doesn’t mean your approval is guaranteed.
Are there credit cards in Canada with instant approval?
Yes, some cards, such as the Brim Financial Mastercard, act like an instant use credit card and allow users to begin transacting through Apple Pay within seconds of being approved. For more information, visit our Brim Mastercard review here.
How do I qualify for an instant approval credit card?
To qualify for an instant approval credit card in Canada, you’ll need to be a Canadian citizen or permanent resident, be old enough to apply (at least the age of majority in your province or territory), have some form of valid income and meet a minimum credit score threshold (typically between 600 and 700) set by the credit card provider.
How do credit cards in Canada with instant approval work?
After you apply for a credit card online, the credit card provider will access your credit history report from one of the online national credit bureaus—Equifax or TransUnion. The provider’s algorithm will then almost instantly calculate whether or not you’re approved using the information on your credit report based on its eligibility requirements.
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 online for credit cards with instant approval 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.
Which bank gives instant card approval?
Both traditional and digital banks offer credit cards with instant approval including, TD, RBC, BMO, Tangerine and Neo Financial, along with more alternative financial institutions like PC Financial and Canadian Tire.
The reason some banks do not offer instant approval credit cards is because certain technology has to be in place for you to get an almost-instant reply on your credit card application — and not all banks in Canada have invested in these security measures.
Compare more credit cards in Canada with instant approval
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Issuers that offer credit cards with instant approval in Canada
Here are some of the main providers in Canada that offer instant credit card approval:
What is the easiest credit card to get in Canada?
The easiest credit card to get in Canada is a secured credit card like the Neo Secured Mastercard, which offers guaranteed approval, no hard credit check and no required credit score. Secured credit cards are less risky for card providers, so these cards are designed for easier approval.
As for unsecured credit cards, as long as you can meet some basic eligibility requirements (inlcuding a credit score of around 600 or higher), you have far more options for easy credit card approval in Canada. Consider cards like the RBC Cash Back Mastercard, the Tangerine Money-Back Credit Card and more outlined here.
Can I get unsecured instant approval credit cards for bad credit in Canada?
If you have a bad credit score, you won’t likely get approved for an unsecured instant approval credit card. The lowest credit score required for most unsecured credit cards in Canada is 600. Below that, you’ll have a much higher chance of approval with a secured card, like the Neo Secured Mastercard.
If you’re credit score is around 600, consider instant approval unsecured cards like the Tangerine Money-Back Credit Card or the Neo Credit Mastercard.
Can I get guaranteed approval credit cards in Canada?
You’ll usually only find legitimate guaranteed approval offers in Canada for secured credit cards, like the Neo Secured Mastercard. Since customers have to secure the credit card with funds before using it, much of the risk to credit card providers is automatically lessened.
These cards are often designed to help you build up your credit score. Unsecured credit cards in Canada will not typically come with guaranteed approval.
Can I get instant approval credit cards with no credit check?
Unfortunately, you can’t avoid a credit check when applying for an instant approval unsecured credit card unless you’re applying for a second card with the same provider. Alternatively, certain secured credit cards in Canada, like the Neo Secured Mastercard, offer instant approval and no hard credit check.
That’s because each time you apply for a credit card, the lender checks your credit score as part of your application process. The lender needs to know if you are a trustworthy borrower and your credit score and history are the biggest indicators of that.
How to apply for an instant approval credit card in Canada in 4 steps
To improve your chances of getting credit cards with instant approval, there are a few steps you’ll need to take to make sure you’ve completed your application properly.
Step 1. Compare your options
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:
- Fees. Annual, foreign transaction, balance transfer, late and returned payment fees should all be taken into consideration.
- Rates. Check the APR for purchases, cash advances and balance transfers before settling on a card.
- Rewards. Many credit cards offer rewards points, travel miles or cash back on your purchases. This is a great way to rack up freebies, but make sure your card’s rewards categories line up with your spending habits.
- Other perks. If you’re willing to pay an annual fee, you could get a card with premium perks like complimentary travel insurance, extended warranty and purchase protection and discounted experiences.
Make sure you can afford the card and that it offers the extra features you need to manage your credit.
Step 2. Check the eligibility requirements
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:
- Good credit history. Most banks only accept applicants who have a good credit history with no evidence of defaults.
- Residential status. Depending on the card, you might only be able to apply if you’re a Canadian citizen or a permanent resident. Some banks do offer cards to temporary residents.
- Age. You’ll need to be at least 18 years of age, or the age of majority in your province or territory.
- Income. You’ll need to meet a minimum income requirement to receive approval for the card. If you don’t meet the income requirement of a card, you might want to compare low-income credit cards for more choice.
Step 3. Collect the necessary documents and information
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:
- Proof of identity. You’ll be asked to provide proof of your identity such as your drivers license or SIN number.
- Personal details. You’ll need to provide your full name, residential address and contact details.
- Employment and income. You’ll need to provide proof of employment and income, including the details of your employer and recent pay slips. If you’re self-employed, you’ll need to provide your accountant’s details and if you’re retired, you’ll need to provide evidence of your pension and OAS payments or assets.
- Balance transfer details. If you’re applying for a balance transfer, you’ll need to provide the details of your existing accounts and the amount you’re transferring during the application.
To ensure a smooth and quick application process, make sure you have these details on hand before you begin your application.
Step 4. Apply online
You can apply for most instant approval credit cards online. You can often apply within 10 minutes and get approved within 60 seconds. Once you’ve compared your 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.
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.
What do you need to apply for a credit card with easy approval?
Once you’ve compared different credit card options, you can apply for a credit card online. Before you apply, be sure you meet the eligibility requirements and have the relevant documents on hand.
Eligibility criteria
Although it can vary between different credit card providers, to apply—even for some of the easiest credit cards to get approved for in Canada, you would usually have to meet the following eligibility criteria:
- Be 18 years old or the age of majority in your province or territory
- Be a Canadian citizen or a permanent resident with a valid Canadian address
- Have a regular source of income
- Have a good credit history, which is usually a score of 650 or higher
Necessary documents and information
You also need to provide different types of information, which could include the following:
- Your full name, date of birth and details from your Canadian driver’s license or government-issued ID
- Your Canadian address, email address and phone number
- Your employer’s name, phone number and address
- Some credit card providers require a social insurance number (SIN)
- Details of your income and expenses including a recent paycheque or bank statement
What to do if your instant approval credit card application is declined
If your application for an instant approval credit card 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:
- Review the card’s eligibility requirements to see if there are any immediately obvious areas where your application could have fallen short.
- Review your credit report to check for any errors. If you find any errors, follow these steps to have them corrected.
- Contact the provider if you can’t narrow down the reasons why you weren’t approved.
- Spend time improving your credit history or comparing other credit cards.
- Apply for another credit card after a few months once you’ve improved your credit score.
Benefits of credit cards with instant approval in Canada
Getting an instant approval on your credit card in cases of emergency comes with benefits, such as:
- Instant discount and rewards. Depending on the card you’re approved for, you can use the discount on your purchases or earn rewards before your physical card arrives.
- Meet signup bonus requirements. If the card comes with a welcome offer, you get a chance to earn it early on.
- Instant access to certain card features. For example, an instant access balance transfer card can let you consolidate your debt much faster.
- Emergency credit line. This is helpful if you need to make a large purchase and you don’t have available credit on your other cards. Getting instant credit card numbers allows you to expand your credit card before getting your physical card. And if the card comes with a 0% intro APR period, you get an even higher value.
- Suitable for low-income earners. Since people with low incomes don’t have too many options, this is one of the biggest advantages of credit cards with easy eligibility criteria. If you earn $12,000 a year or more, you can think about applying for a low-income credit card.
- Keep expenses in check. One risk of getting a credit card is overspending. A typical low-income credit card comes with a low credit limit, ensuring that you don’t end up making excessive purchases.
- Promotional interest rates. Certain low-income credit cards come with promotional interest rates that last for a specified period of time, usually between six to 12 months. These promotional rates normally apply only to balance transfers and prior debt, but some cards offer these rates on new purchases as well.
Drawbacks of having an instant approval credit card
- High interest. Credit cards charge interest on purchases and cash advances, and these two interest rates sometimes differ. With a card that charges high interest, if you don’t pay your balance in full each month, you could end up paying a significant amount in interest.
- Fees and charges. Depending on the credit card you choose, you might have to pay application fees and an annual fee for the card. Additionally, if you don’t make timely repayments, you will incur interest charges.
- Temptation to spend. A credit card can free up your cash flow and help build your credit history. However, make sure you stick to a budget and avoid the temptation to use the card for purchases that you can’t afford to pay off. It’s much easier to spend money on plastic.
- Potential impact to your credit score. While responsibly using an instant approval credit card can help your credit score, it can hurt your score if you miss payments or carry forward your balance instead of paying it off. Before applying, be aware of how having a credit card will impact factors like your debt utilization ratio, debt-to-income ratio and your total debt.
Which types of credit cards offer easy credit card approval?
Credit card eligibility requirements generally increase in demand with premium cards, like gold, black and platinum cards, that typically include more perks and benefits. That said, the following types of credit cards may have lower requirements for a successful application, and will be easy credit cards to get in Canada:
- Low income credit cards. Your annual income plays an important role in the credit card you can apply for. Low-income credit cards, as their name implies, have low minimum income requirements, which usually sit around $12,000 a year. Keep in mind, even these card providers will delve into your credit history.
- Low rate cards. If you plan to carry a balance on your credit card, getting a card with a low-interest rate could help keep costs down when compared to other options. A typical low interest rate card would not offer extras like concierge access and complimentary insurances, but it would offer all basic features you can expect from a credit card like fraud protection.
- Low credit limit credit cards. Cards with stricter eligibility criteria usually offer more features and higher credit limits, but if you have a low income, lower credit limits that normally start around $500 generally apply.
- Joint account cards. If you don’t earn enough to apply for a credit card, you can consider applying for one as a joint applicant, by combining your income with your partner’s income. If your partner has an existing credit card, you can even think about getting an additional card linked to their account.
- Low annual fee cards. Annual fees on credit cards vary, but cards with low fees are likely to have fewer extra features and usually have lower income requirements and more lenient eligibility criteria.
Alternatives for easy approval credit cards: Prepaid cards
Instead of applying for an easy approval credit card, consider if getting a prepaid card might be a better fit. Prepaid cards work just like any other credit card, except you have to load money onto the card first. Because that greatly reduces the risk for the card issuer, prepaid cards are often easier to get approved for compared to credit cards.
You can reload prepaid cards at any time and use them for purchases wherever credit cards are accepted. Since your credit score won’t be affected when you use a prepaid card, they are usually fairly quick and easy to apply for.
Many prepaid cards also come with some of the same conveniences that using a major credit card offers, like the ability to earn cashback rewards on your spending.
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Bottom line
When you’re looking for the easiest credit card to get approved for in Canada, you do have options. Applying for credit cards with instant approval is the fastest way to apply for a credit card online and get a credit card sooner. You’ll still need to meet the relevant eligibility requirements to get an instant approval credit card in Canada, so it’s important to compare your options and prepare your application before submitting it to improve your chances of approval.
FAQs about credit cards in Canada with instant approval
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