What is instant credit? This question is about Instant Approval Credit Cards

What is instant credit?

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This question is about Instant Approval Credit Cards

Tom Lipkis, WalletHub Credit Card Consultant

@cindercard • 06/19/18 This answer was first published on 06/19/18. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Instant credit is short for instant credit card, which is a credit card that gives instant approval to qualified applicants who apply online and can be used to make purchases immediately, before the card arrives in the mail. But instant credit can mean other things, too, as it’s a pretty general term. For example, people often use it in reference to instant approval credit cards that don’t necessarily allow instant use.

You could also make the case that you’re getting instant credit anytime you’re approved for a new credit card or a credit limit increase. Along those lines, you’re getting instant credit whenever a credit card payment goes through since it frees up some of your credit limit for spending.

But people in search of instant credit typically need it to face some sort of financial emergency. Many also have bad credit. Unfortunately, there are only two instant credit cards for bad credit, and neither is good for financing emergency expenses.

Hopefully, you can afford to wait the 14-24 business days it usually takes to get a credit card in your hands. If not, you can check out some of your best choices below.

Here are some of the best instant credit cards:

Instant Approval and Use: Capital One Secured Mastercard – $0 annual fee
Instant Approval and Use: Fingerhut Credit Account – $0 annual fee
Instant Approval: Credit One Unsecured Visa – $0 to $99 annual fee
Instant Approval: Capital One Quicksilver Secured Cash Rewards Credit Card – $0 annual fee
Instant Credit Card for Good Credit: Capital One Venture – $95 annual fee (waived the first year)

Finally, it’s worth noting that some people might use instant credit in more of a credit-score sense, meaning either instant credit improvement or instantly establishing credit from scratch. Both are possible, to a certain extent, but you can’t expect overnight miracles.

For example, you can get your first credit score within weeks of opening a starter credit card. And you can improve your score just as fast by paying down your credit card balances and any collections accounts you may have.

Answer Question

Are there any instant approval and use credit cards for bad credit?

Yes, there is an instant approval and use credit card for bad credit. With the Fingerhut Credit 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.

Credit cards that allow instant use are very rare. Plus, almost all of them require fair credit or better. However, there are plenty of credit cards for bad credit you can get ... read full answer instantly approved for. You generally need to wait 7-10 business days to receive the card by mail. But that’s not that long to wait though, so you might want to consider shopping around.

Here are some good instant approval credit cards for bad credit:

No Credit Check Approval: OpenSky® Secured Visa® Credit CardOpenSky® Secured Visa® Credit CardLearn MoreLearn Moreon issuer's website
No Deposit: Credit One Bank® Platinum Visa® for Rebuilding CreditCredit One Bank® Platinum Visa® for Rebuilding CreditLearn MoreLearn Moreon issuer's website
Cash Back: Capital One Quicksilver Secured Cash Rewards Credit CardCapital One Quicksilver Secured Cash Rewards Credit CardLearn MoreLearn More

If you get a credit card for bad credit and keep your account in good standing, you will improve your credit score. By doing so, you’ll eventually be able to get an instant approval and use credit card.

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What is the best credit card you can use instantly?

The best credit card you can use instantly is the Blue Cash Preferred® Card from American Express. You can access the card number immediately after being approved for an account online, then begin to make purchases until you receive the physical card in the mail.

Blue Cash Preferred offers up to bonus cash back rewards in certain spending categories and a $250 statement credit for spending $3,000 in the first 6 months. It also requires a minimum of good credit for approval. Just remember that you’ll only have a short period of time to write down your card information once you’re approved for this credit card. People who miss this window of opportunity will need to wait until they get the card in the mail.... read full answer

Best Credit Cards You Can Use Instantly After Approval

Rates & FeesTerms ApplyOverall: Blue Cash Preferred® Card from American ExpressBlue Cash Preferred® Card from American ExpressLearn MoreLearn Moreon issuer's website
Rates & FeesTerms ApplyLuxury Perks: The Platinum Card® from American ExpressThe Platinum Card® from American ExpressLearn MoreLearn Moreon issuer's website
Retail: Capital One Walmart Rewards® Mastercard®Capital One Walmart Rewards® Mastercard®Learn MoreLearn More
Rates & FeesTerms ApplyDining: American Express® Gold CardAmerican Express® Gold CardLearn MoreLearn Moreon issuer's website
No Annual Fee: Costco Anywhere Visa® Card by CitiCostco Anywhere Visa® Card by CitiLearn MoreLearn Moreon issuer's website
Airline: JetBlue Plus CardJetBlue Plus CardLearn MoreLearn More

Instant approval is always possible when you apply for a credit card online or in person, but credit cards that you can use instantly are uncommon. Some credit card issuers don’t offer any credit cards you can use instantly, while others have only a few.

Credit Cards You Can Use Instantly by Issuer

Issuer	Instant Approval?	Use Instantly?	Conditions
American Express	All cards	All cards	Must apply online or over the phone. Co-branded cards may only offer instant use for purchases with that brand.
Bank of America	All cards	All cards	The Alaska Airlines Credit Card offers instant use (for Alaska Airlines purchases) through the online application. Existing BofA customers can use any BofA card instantly after applying and being approved via the mobile app, then adding the card to their mobile wallet.
Barclays	All cards	Some cards	Co-branded cards may offer instant use, but only for purchases with that brand.
Capital One	All cards	Some cards	Instant use is only available on the Capital One Walmart Rewards® Mastercard®.
Chase	All cards	Some cards	Instant use is available for people who add certain Chase cards to a digital wallet upon approval. Eligible cards include Chase Freedom Unlimited®, the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, and the Chase Freedom® Student credit card, among others.*
Citibank	All cards	Some cards	Instant use is available for people who apply for the Costco Anywhere Visa® Card by Citi in-store. Other co-branded cards may offer instant use, but only for purchases with that brand.
Credit One	All cards	No cards	Standard shipping time for new cards is 10 business days.
Discover	All cards	No cards	Standard shipping time for new cards is 5-7 business days.
USAA	All cards	All cards	Instant use is available for all USAA cards, but the credit line is limited to $1,000.
U.S. Bank	All cards	No cards	Standard shipping time for new cards is 7-10 business days.
Wells Fargo	All cards	No cards	Standard shipping time for new cards is 7-10 business days.

*Please note, at this time the IHG® Rewards Premier Credit Card, IHG® Rewards Traveler Credit Card, Aeroplan Credit Card, Chase Freedom Flex℠, Amazon.com Credit Card, Disney Premier Credit Card, Disney Rewards Credit Card and Business credit cards cannot be added to a digital wallet upon card approval. However, once you receive your physical card you can add it to a digital wallet.

If you’re not able to get a credit card you can use instantly, don’t worry. Credit cards usually only take 7-10 business days to arrive after you’re approved. And many credit card companies provide expedited delivery for a small fee, or sometimes even for free.

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Are there any credit cards for no credit with instant approval?

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. And with that said, let’s look at some of the ... read full answer best credit cards for people with no credit, which you could get instantly approved for (but may not).

Here are credit cards for no credit that may have instant approval:

Capital One Platinum Credit Card. This card doesn’t offer rewards, but it also has a $0 annual fee. It’s a great card to build credit, and you can get access to a higher credit line if you pay on time for 6 months.

Capital One QuicksilverOne Cash Rewards Credit Card. You get 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 there’s a $39 annual fee.

Capital One Platinum Secured Credit Card. This card doesn’t offer rewards, but it comes with a $0 annual fee. Once approved, your credit line will be equal to your security deposit (minimum of $49, $99 or $200).

OpenSky® Secured Visa® Credit Card. This card doesn’t even run a credit check, so its approval odds are very high. You just need to place a security deposit of at least $200 that will serve as your credit line. There’s a $35 annual fee.

Since you don’t have any credit history yet, your approval is going to hinge more on whether you can afford to make purchases and pay them off. In other words, your income is going to be a large factor, so doing anything you can to boost that will help. You’ll also want to make sure you have all other necessary details in order. For example, you’ll probably need a U.S. mailing address, SSN or ITIN, and U.S. bank account for payments.

While you could get instantly approved for any of these no-credit credit cards, it’s also possible that the issuer could take more time, even up to a month, to make a final decision. Again, no card can guarantee instant approval 100% of the time. If you want to increase your approval chances by having a positive credit history, you could always become an authorized user on someone else’s card and make some purchases with it.

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