Instant Approval Credit Cards

Instant approval credit cards are credit cards that offer a fast and easy online application process. They can help you get access to credit quickly, without having to wait for days or weeks for a decision. However, instant approval does not mean guaranteed approval, and there are some things you should know before applying for one.

What are instant approval credit cards?

Instant approval credit cards are credit cards that let you know if you are approved or not within minutes of submitting your online application. Some of them may also allow you to use your new card immediately after approval, without having to wait for the physical card to arrive in the mail.

Instant approval credit cards are usually offered by online lenders or fintech companies that use advanced technology and algorithms to assess your creditworthiness and eligibility. They may also have less strict criteria than traditional banks, making them more accessible to people with bad credit or no credit history.

However, instant approval does not mean guaranteed approval. You still need to meet the minimum requirements of the card issuer, such as having a valid UK address, being over 18 years old, and having a regular income. You also need to pass a hard credit check, which will affect your credit score and show up on your credit report.

What are the benefits of instant approval credit cards?

Instant approval credit cards have several benefits, such as:

Convenience: You can apply for an instant approval credit card from anywhere and at any time, as long as you have an internet connection and a device. You don’t need to visit a branch, fill out paper forms, or provide physical documents.
Speed: You can get a decision on your application within minutes, and sometimes even seconds. This can save you time and hassle, especially if you need credit urgently or for an unexpected expense.
Access: You may have a higher chance of getting approved for an instant approval credit card than a regular credit card, especially if you have bad credit or no credit history. Some instant approval credit cards are designed for people who want to build or improve their credit score, and they may offer lower interest rates, higher credit limits, or rewards programs.

What are the drawbacks of instant approval credit cards?

Instant approval credit cards also have some drawbacks, such as:

Fees: Some instant approval credit cards may charge high fees, such as annual fees, late payment fees, cash advance fees, or foreign transaction fees. These fees can add up quickly and make your card more expensive than you expected.
Interest: Some instant approval credit cards may have high interest rates, especially if you have bad credit or no credit history. This means that if you don’t pay off your balance in full every month, you will incur interest charges that will increase your debt and reduce your available credit.
Fraud: Some instant approval credit cards may be offered by unregulated or fraudulent companies that may try to scam you or steal your personal information. You should always check the reputation and legitimacy of the card issuer before applying for an instant approval credit card, and never give out your PIN or password to anyone.

How to choose an instant approval credit card?

If you are interested in applying for an instant approval credit card, you should consider the following factors:

Eligibility: You should check the eligibility criteria of the card issuer before applying for an instant approval credit card. You should also use an eligibility checker tool, such as CardFinder¹, which can help you find the best deals for your situation and show you your likelihood of approval.
Features: You should compare the features of different instant approval credit cards, such as the interest rate, the credit limit, the fees, the rewards program, and the customer service. You should look for a card that suits your needs and preferences, and that offers you the best value for money.
Responsibility: You should only apply for an instant approval credit card if you can afford it and use it responsibly. You should always pay your bills on time and in full every month, and never spend more than you can repay. You should also monitor your credit score and report regularly, and report any suspicious activity or errors to the card issuer.

Here is a list of online banks where you can get instant approval credit cards:

Capital One: Capital One offers a variety of credit cards for different needs, such as cash back, travel rewards, balance transfer, and credit building. You can apply online and get an instant decision in most cases. If you are approved, you can use your card right away through the Capital One app or by adding it to your digital wallet¹.
Chase: Chase also has a wide range of credit cards for various purposes, such as cash back, travel rewards, business, and student. You can apply online and get an instant decision in most cases. If you are approved, you can use your card right away through the Chase app or by adding it to your digital wallet².
Discover: Discover offers credit cards with no annual fee, cash back rewards, and free FICO score. You can apply online and get an instant decision in most cases. If you are approved, you can use your card right away through the Discover app or by adding it to your digital wallet³.
American Express: American Express offers credit cards with cash back, travel rewards, membership rewards, and more. You can apply online and get an instant decision in most cases. If you are approved, you can use your card right away through the American Express app or by adding it to your digital wallet⁴.