Instant Approval Credit Cards

The best pre-approved credit cards are really just the top cards that you can see if you pre-qualify for before actually submitting an application. And you can’t check to see if you pre-qualify for one card in particular, at least not directly. Rather, a credit card company will tell you which of its cards you’re pre-approved for. If that happens to include the card you’re targeting, you’ll know your odds of being approved are extremely high, should you decide to apply. If your chosen card isn’t listed, there’s still a chance you could get approved, but it’s not a good sign.

Here are the best pre-approved credit cards:

• Cash Back: Citi® Double Cash Card – 18 month BT offer
• Travel Rewards: Capital One® Venture® Rewards Credit Card
• Initial Bonus: Chase Sapphire Preferred® Card
• 0% Purchases: Citi Simplicity® Card - No Late Fees Ever
• Balance Transfer: The Amex EveryDay® Credit Card from American Express
• Fair Credit: Capital One® Platinum Credit Card
• Students: Bank of America® Travel Rewards credit card for Students
• Bad Credit: Discover it® Secured Card - No Annual Fee

Take note, however, that only some credit card companies allow people to check which, if any, cards they’re approved for.

These credit card companies let you check for pre-approval:

• American Express
• Bank of America
• Capital One
• Chase
• Citi
• Discover

Checking for pre-approval is definitely a good idea. It lets you gauge your chances of success before risking a hard pull on your credit. And the better your credit is, the better the credit cards you pre-qualify for will be, too. Your odds of actually getting approved when you apply will also be higher.

That’s where WalletHub’s free daily credit scores and personalized credit analysis can help. You’ll always know exactly where your credit stands and what you need to do to improve it.

It can take anywhere from less than a minute to a few weeks to get approved for a credit card. The amount of time depends on how you apply, how good your credit is relative to the requirements of the card, and whether the issuer can immediately verify your information. You could be instantly approved if you apply online and are obviously qualified. But if you don’t get instant approval, it’ll typically take at least 7-10 business days to hear back.

Here’s what affects how long it takes to get approved for a credit card:

• The way you apply. You can apply for most credit cards by mail, by phone or online. If you apply by mail, that’s going to add an extra 1-7 days just for your application to get there. The other two methods both allow for instant approval.
• Your credit and income. No credit card guarantees instant approval. You’ll only get it if you exceed the issuer’s credit, income and other requirements. If you’re right on the border of qualifying, the issuer will probably take longer to consider your application. The typical wait time is 7-10 business days, which translates to around two weeks.
• Your personal info. You’ll need to enter details like your name, date of birth, address and Social Security number when you apply for any card. That information also is present on your credit reports, which the issuer will check during the approval process. If the information on your application doesn’t match the information on your report, or if it gets flagged as fraudulent, it will hold up the process until the issuer can verify your identity.

So the standard timeframe in which you can expect to be approved for a credit card and receive it by mail is approximately 3-4 weeks. If you’re not approved instantly, count on 7-10 business days for approval and 7-10 business days for delivery. And if you’re itching to get your card faster, don’t forget to ask the issuer about expedited delivery.

Your best options to get a credit card today are Capital One cards, such as Capital One Venture and Quicksilver, and some store cards. While it’s pretty common to get approved for a credit card the same day if you apply online, you’ll still usually have to wait another 7-10 business days before your card comes to use it. Capital One cards provide instant use through the Capital One app. Store cards, such as the Target REDCard, may give you an instant number or code to use as a temporary version of your card. Let’s take a look at the top choices.

Here are the best credit cards you can get today:

• Bad credit – Capital One Secured Mastercard: Requires a minimum security deposit of $49, $99 or $200. Your credit line will always be at least $200. No rewards. No annual fee.
• Limited credit – Capital One QuicksilverOne: Unlimited 1.5% cash back on all purchases. $39 annual fee.
• Fair credit – Target REDcard: 5% off at Target and Target.com. 30 extra days on returns. Free shipping. No annual fee. Gives a temporary number after approval to use until your card comes.
• Good credit (miles) – Capital One Venture: $50,000 bonus miles when you spend $3,000 in the first 3 months. Unlimited 2 miles per dollar on all purchases. $95 annual fee waived the first year.
• Good credit (cash back) – Capital One Quicksilver: $150 bonus cash back when you spend $500 in the first 3 months. Unlimited 1.5% cash back on all purchases. No annual fee.
• Excellent credit – Costco Anywhere Visa: 4% cash back on the first $7,000 spent on gas per year, 3% on restaurants and travel, 2% at Costco, 1% on everything else. No annual fee but must be a Costco member. Requires excellent credit. Gives a temporary code to scan at checkout until the actual card arrives.

While there’s no guarantee these options will get you a credit card today, they’ll certainly give you your best chance. Don’t forget that if you get approved for a Capital One card you’ll need to download the app to use it right away. And if you’re interested in a store card, make sure to ask if they offer instant use first. Lastly, when your physical card arrives by mail in 7-10 business days, be sure to activate it right away.

If you’re looking for a card that can be used for anything, the Credit One Bank® Platinum Visa® is your best bet. You can get approved for it with bad credit. It offers a $300 starting spending limit. And you can use it wherever Visa is accepted.

If you don’t need a small emergency loan, the best course of action is to improve your credit inexpensively with a secured card. Secured cards are cheaper than unsecured cards, build credit just as effectively, and offer the closest thing you’ll find to guaranteed instant-approval.

I think all credit cards for fair credit are unsecured, but I don't know of any that have instant approval. They're pretty easy to get, but there's still a process you have to go through. That being said, my favorite is the QuicksilverOne Cash Rewards from Capital One. It does have an annual fee but it's pretty small, and I love cash back.