Best Credit Cards for Instant Approval in March 2022 – CNET

If you need a card right away for an upcoming expense, the Upgrade Triple Cash Rewards Visa* is available to use as soon as you’re approved. For the ultimate flexibility, this card is a combination of credit card and line of credit to cover unexpected expenses, with monthly payments deducted automatically from your bank account. Plus, you’ll earn cash back as you go. Once you’re approved, all you need to do is sign in to your Upgrade account to find your virtual card number. You can use the number for online purchases until your physical card arrives by mail.

American Express can provide you with nearly instant approval as long as your identity can be properly verified. The Blue Cash Everyday Card from American Express is a good instant-approval option when you need to make a major purchase or pay for an emergency. 

You’ll get an introductory interest-free period of 15 months on purchases from the date of account opening (13.99% to 23.99% variable APR thereafter), which could come in handy to pay back an unexpected expense over time without wiping out your emergency fund. You’ll also earn cash back on those purchases. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit. Once you’re approved, you may be able to access your card number by logging in to your account.

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

Most instant-approval credit cards make a decision fast, but the decision may not always be in your favor. It’s especially true if your credit score falls below a Good rating. A secured credit card — a card requiring a security deposit in exchange for a credit account — may be the best option. The Capital One Platinum Secured Credit Card* is designed for anyone with limited or even no credit and offers low security deposit requirements. 

Most secured cards expect you to provide 100% of the credit limit in the form of a security deposit. Capital One may only require as little as $49 or $99 to get a $200 initial credit line. If you maintain your card account in good standing, Capital One may automatically consider you for a higher credit line in as little as six months. If approved, you may be able to log in to the app to grab your new card number and start making purchases right away.

The Amazon Prime Rewards Visa Signature Card is an excellent choice for shoppers who want to earn cash-back rewards that can be applied to purchases, transferred to a bank account or applied as a statement credit. Once you’re approved for this Chase credit card, you’ll see the credit card in your Amazon account and ready to use at checkout. You’ll need to wait for the physical card before you can shop at retail stores, but considering how much is available through Amazon or Whole Foods online, you may be able to purchase what you need without the mail carrier holding you up.

The Apple Card is a Mastercard issued by Goldman Sachs. According to Apple, the card “lives on your iPhone.” As long as you’re using Apple Pay, you won’t need the physical version of the credit card, although one will follow in the mail. Daily Cash gives you cash back on your purchases the same day of the transaction. You’ll find that the cash balance is available in the card app for payments or to send to a friend. You can find out if you’re preapproved for the Apple Card without a dent in your credit score before you formally apply. If you get the green light, you can use the card right away through Apple Pay.

What credit score do I need for instant approval?

Credit cards are not one-size-fits-all products. There are instant-approval cards available for everyone — from someone starting out with no credit to individuals with excellent credit. This credit card guide includes credit requirements for the cards reviewed so you can gauge your likelihood of approval ahead of time.

What’s the difference between prequalification and preapproval?

Prequalification and preapproval for a credit card both help you understand your chances of approval without hurting your credit. The difference between credit card prequalification and credit card preapproval is who initiates the request, you or the credit card company. 

If you decide to see your approval chances, you can get prequalified for a credit card by visiting the card provider’s prequalification page. When a credit card company sends you a credit card offer, it will often say you are “preapproved” for a credit card. You can then follow your preapproval link to complete the application process.

For both, the card company does a soft inquiry on your credit report that does not affect your credit score. A hard inquiry happens if you actually apply. In addition, you’re not obligated to apply if you’re prequalified or preapproved.

Does a preapproval offer guarantee approval?

A preapproval is more like an invitation to apply for a credit card. The chances are high you’ll be approved. However, you’re not guaranteed a credit card yet; you’ve only met the initial criteria that card issuers use to screen potential cardholders. Once you apply, the credit issuer performs a more detailed, hard inquiry on your credit to make a definitive decision.

What’s the difference between instant approval and instant use?

Instant-approval credit cards will provide you with an answer as soon as you complete the online card application. However, you may still have to wait for the physical card to arrive in the mail so you can activate it for use. 

Instant-use credit cards are available immediately after approval. Card companies that offer instant-use cards will give you the card number and expiration date as soon as you’re approved.