The Ins and Outs of the Top Instant Approval Credit Cards

Instant credit card approvals allow you to apply for credit cards online and find out instantly – well, almost instantly – whether or not you’ve been improved. In a lot of cases you can find out if you’ve been approved in as little as 60 seconds. If you’re looking for a new credit card, and don’t feel like mailing away applications, or waiting for days or weeks to find out if you’ve been approved, then an instant approval card might just be for you.

Instant approval cards generally use your FICO score to determine whether or not you’ll be approved. Your FICO score is a number between 300 and 850 that credit issuers use to judge your credit worthiness. 60% of people lie between 650 and 799. Anything higher is considered exceptional, and as you get lower and lower from there it gets harder and harder to obtain new credit. You should know your FICO score ahead of time, because if it’s too low, it could cause your applications to be declined, and too many declined applications in a short period of time can in itself have a negative effect on your credit score! (Note: If your FICO score is very low, you might want to consider a guaranteed approval card.)

Now let’s take a look at some of the best options out there for instant approval cards.


The Discover More Card:

The Discover More credit card is a fantastic card that offers no annual fee, a 0% introductory balance transfer for 15 months, 0% introductory purchase for 15 months, a 5% cash-back bonus on purchase categories that change throughout the year and an excellent rewards program. After the introductory offer, the annual interest rate ranges from 10.99% to 19.99%. You can even choose from over 100 designs to help personalize the card!


The Miles by Discover Card:

Another one from Discover (who offers some of the fastest approval decisions around), the Miles by Discover Card is perfect for the avid traveller. With no annual fee, a 0% purchase offer for six months and 0% balance transfer for six months, this card is a great deal, and after the 6 month period interest rates range from 10.99% to 19.99%. The real bonus for travellers though is the miles. The Miles by Discover card offers 12,000 bonus miles in the first year, one mile for every dollar you spend and double miles on your first $3000 in travel related purchases every single year.


The Discover Motiva Card:

The Motiva is a great card offering instant approval because it provides cash back bonuses whenever you pay your monthly bill on time. For people who always pay on time anyways, this is a fantastic added bonus. With the same 0% offers as the other two cards, in this case for 15 months, no annual fees and Discover’s standard interest rates once the 15 month offer expires, the card is a great option to begin with. But when you add in 5% cash-back on your monthly interest charges whenever you pay your bill on time, choosing this card is easy.


Those are just a few examples of the many great credit cards out there that provide online applications with decision times of as little as 60 seconds. All cards by Discover offer this fast approval time, and many other companies like Capital One offer very fast approval times (although not necessarily as quickly, and subject to system availability). Just remember that applying for too many credit cards in a short period of time can actually hurt your credit, so be careful not to go too crazy applying for this quick response cards (it can be easy to get carried away!)


Research your FICO score ahead of time and use it to your advantage. Many of the cards will list who their target markets are, so if your FICO score is average, or not great, avoid cards designed for people with exceptional credit. The fewer cards you can apply for the better, so choose wisely and try and select one that you can get approved for the first time. If for any reason you’re having trouble getting approved, or if your FICO score is limiting your options, you might also want to consider a guaranteed card.

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