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The Best Instant Approval Credit Cards in Canada

If waiting makes you anxious, try using one of these credit cards. In certain situations, you may be accepted immediately immediately and begin making purchases with your card.

The approval procedure for a new credit card may be torturous, particularly if you have to wait several days for confirmation before your personal card is created and delivered to you. Many credit cards now provide rapid approval, which makes the application process more faster and less stressful. After filling out an application with personal information, the card provider's website conducts checks and informs you within minutes if your application has been granted or refused.

If your application is approved based on the information you've provided, credit checks, card printing, and mailing are all expedited. In five to seven business days, you should get a welcome package with your card.

An application may be subjected to manual review as a precaution against fraud, in which case the file is transferred for verification, which may take an extra two to three business days before a final decision is made.

More credit card applications are going online as banking procedures become more digital, and more issuers are providing cards with fast-approval applications.

Here are the finest credit cards with quick approval that you can apply for right now.

Best instant approval credit cards in Canada:
  • Canadian Tire Triangle Mastercard — Use instantly after approval
  • PC Financial Mastercard — Best no fee rewards card
  • American Express Cobalt — Best overall rewards credit card
  • American Express SimplyCash Preferred; CIBC Dividend
  • Visa Infinite — Best cash back cards
  • BMO Preferred Rate Mastercard — Best low-interest credit card
  • Refresh Financial Secured Visa — Approval with no credit check required
  • Capital One Low Rate Guaranteed Mastercard — Guaranteed approval

What is an instant approval credit card?

Instant approval credit cards include a streamlined—practically instant—application and approval procedure that helps you save time and worry. Rather of applying and waiting for a final decision, the issuer will tell you whether you've been accepted or whether you need to go through a human review right away.

The Canadian Tire's Triangle Mastercard lets newly authorized cardholders to use Apple Pay or Google Pay to make transactions on their card before receiving their actual credit card in the mail.

What do you need to get instantly approved for a credit card?

You must be a permanent resident or a Canadian citizen (however certain cards allow you to apply for a longer period of time if you are not a permanent resident of Canada).

You must be at least eighteen years old (18 or 19 and older, depending on the province you reside in)

If you're looking for an unsecured credit card (which includes most rewards and low-interest alternatives), you must not have a bankruptcy history.

Whether you're asking for a secured or unsecured card, a strong credit score will improve your chances of approval.

Instant approval applications require accurate information to match any previous background information they may have on file (if you already have another card from the same provider or bank with the institution), social insurance number, employment and income information, and other optional information. The more information you submit, the better the fast approval procedure will be able to authenticate your identity and analyze your application on the spot.

If you're authorized right away, the system will speed up your application for appropriate credit checks, however you may still be called for further information.

Your card will be produced and shipped to the address you choose shortly after that. With the exception of applications when you already have a history with the institution or where the credit card you've applied for is secured, meaning you've given a security deposit, all cards will need a credit check or score pull.

Best instant approval credit cards in Canada

Instant approval is now accessible from an increasing number of credit card companies in a variety of sectors.

We've compiled a list of the finest to assist you in selecting the greatest immediate acceptance credit card for your requirements.

Card you can use instantly after approval

Canadian Tire Triangle Mastercard

If you shop at the store, as well as CT Gas+, Sport Chek, Mark's, and other Canadian Tire family businesses, the Canadian Tire Triangle Mastercard is a wonderful alternative. If you apply and are authorized at a Canadian Tire store, you may use the card right away instead of waiting for it to arrive in the mail. If you apply for Instant Credit online and are accepted right away, you may go to checkout and have your card information pre-filled in the payments area, allowing you to start earning 4% back on qualified purchases right away. You may also make purchases with your card using the Apple Pay or Google Pay applications before receiving your actual card in the mail.

Annual fee: $0
Rewards at partner locations: 4% in Canadian Tire Money on purchases at Canadian Tire and partner stores and $0.05 back at Gas+ and participating Husky stations
Rewards on everything else: 1.5% on the first $12,000 spent on groceries per calendar year (excluding Costco and Walmart); 0.5% on everything else 
Income requirement: None
Additional benefits: Personalized offers and exclusive bonuses; member-only events; extended warranty
Purchase interest rate: 19.99%

Best no fee rewards card
PC Financial Mastercard

For daily basics, PC Financial provides one of the greatest no-fee rewards credit cards available. This Mastercard is ideal for frequent shoppers who prefer premium earn rates from grocery and pharmacy, as well as gas fill-ups at Esso and Mobil stations, thanks to the wide range of stores under the President's Choice/Loblaw Inc. umbrella, which includes Loblaws, No Frills, Fortinos, Real Canadian Superstore, Shoppers Drug Mart, and Joe Fresh. At Shoppers Drug Mart, you may earn at least 25 points per $1, 30 points every $10 at Esso and Mobil petrol stations, and 10 PC Optimum points per $1 wherever else. At PC-affiliated establishments, redeeming points is simple: 10,000 points for a $10 shop credit (equal to 10 points for 1% in incentives). You may take advantage of weekly point incentives to earn extra thanks to the PC Optimum program.

You should get an acceptance decision within minutes of completing your application online. And, since it's a shop card, it's usually easier to qualify for than typical bank credit cards. For the PC Financial World Mastercard ($60,000 personal or $100,000 household) and World Elite Mastercard ($80,000 personal or $150,000 household) credit cards, your income is also taken into account.

(Each offers extra points for purchases made at PC-affiliated businesses on a regular basis.)

Annual fee: $0
Earn rates: At least 25 points per $1 at Shoppers Drug Mart; 30 points per $1 at Esso and Mobil gas stations; and 10 points per $1 everywhere else
Income requirement: None 
Additional benefits: Works with PC Optimum program’s weekly offers; fraud detection with data encryption; proactive monitoring 
Purchase interest rate: 20.97%

Best rewards credit card
American Express Cobalt Card

The American Express Cobalt follows Netflix, Spotify, and other subscription services in charging a $10 monthly cost rather than a $120 annual charge to use the card. This card is obviously geared at busy millennials who are out and about with friends or regular travellers, thanks to a substantial earn rate of 5 points for $1 on qualified restaurants, bars, cafés, and food delivery in Canada. On qualified transportation and gas purchases in Canada, as well as travel expenditures such as flights and hotels, you'll get 2 points every $1, and 1 point per $1 on all other expenditures.

You cannot transfer points to Aeroplan or partner airline programs as you can with other Amex cards, but you may redeem for travel directly on the American Express Travel site under Fixed and Flexible points redemption schedules. You may also transfer points to certain hotel programs, such as Marriott Bonvoy or Hilton Honors, or redeem them for cash back on your account.

Annual fee: $120, billed at $10 per month
Earn rate: 5 points for every $1 spent on eligible restaurants, bars, cafés and food delivery in Canada; 2 points per $1 spent on eligible transit and gas purchases in Canada, as well as travel purchases like flights and hotel; 1 Point per $1 on all other purchases Welcome bonus: Up to 30,000 points (2,500 Membership Rewards points for each monthly billing period in which you spend $500 in net purchases on your Card for your first year)
Additional perks: Emergency medical coverage; flight and baggage delay insurance; car rental theft and damage insurance; purchase protection; access to American Express Invites and Front of Line by American Express 
Income required: None specified

Best cash back credit card
American Express SimplyCash Preferred

Look no farther if you're searching for an uncomplicated cash back card. The American Express SimplyCash Preferred Card provides a simple 2-percent cash back system on everything you buy—groceries, petrol, pharmacy purchases, vacation, internet splurges, and everything in between.
This American Express card, which has a lower-than-average annual cost of $99, has an advantage over Visa or Mastercard cards in the same category since it has no special income limits. (Competitor cards often have a $60,000 or $80,000 minimum yearly income criteria.) There is no need to work out an earn or redemption plan since you will be automatically redeemed with 2% cash back every year (on your September statement).

Finally, there's a hefty 10% cash back offer (up to $400) for the first three months of card membership, and adding new approved cardholders is free.

This is a good option if you often shop at stores that only take American Express cards.

Annual fee: $99
Welcome bonus: 10% cash back for the first three months, up to $400 cash back
Earn rates: 2% on everything, redeemed as cash back annually on September statements
Income requirement: None
Additional benefits: American Express Front of the Line access; car rental theft and damage insurance; comprehensive travel insurance benefits
Purchase interest rate: 19.99%
Also consider: CIBC Dividend Visa Infinite

Annual fee: $120
Welcome bonus: first year annual fee rebated; 10% cash back for all purchases up to $2,000 in the first 4 months
Earn rate: 4% back on groceries and gas; 2% back on dining, recurring bills and daily transit; 1% on all other purchases
Additional perks: Emergency medical and accident coverage; car rental collision and damage coverage; mobile device insurance; purchase security and mobile device insurance
Income required: $60,000 or $100,000 as a household

Best low interest credit card
BMO Preferred Rate Mastercard

This $20-a-year Preferred Rate Mastercard from Bank of Montreal is our selection for the finest low-interest credit card for people aiming to reduce debt. The annual charge is reimbursed the first year, and you may save money on interest on balances and new purchases thanks to a lower-than-average interest rate of 12.99 percent on purchases. Plus, for the first nine months, enjoy a 3.99 percent introductory interest rate on balance transfers (note that you'll be charged a 1% fee on the amount transferred to the new card).

Annual fee: $20 (refunded in the first year)
Interest rate: 12.99% for purchases and cash advances
Welcome offer: 3.99% introductory interest rate on balance transfers for 9 months with a 1% transfer fee
Additional perks: Purchase protection and extended warranty
Income required: None specified

Approval with no credit check card
Refresh Secured Visa

This secured Visa card from Refresh Financial may be right for you if your credit score is worse than you'd like and you're hoping to improve it. Due to the protected nature of the card, you will be required to make a deposit, and the application procedure may take a few more steps as compared to unsecured card applications. A modest annual fee and a lower-than-average interest rate of 17.99 percent help you carefully manage your credit as you work on improving your credit score, eventually allowing you to qualify for a new card with more generous rewards.

Annual fee: $12.95, plus a monthly maintenance fee of $3
Interest rate: 17.99%
Additional perks: Earn $100 cash each time you refer a friend or family member, with no limits on number of referrals
Income required: None specified

Guaranteed approval card
Capital One Low Rate Guaranteed Mastercard

For individuals wishing to establish or enhance their credit, Capital One's Low Rate Guaranteed Mastercard provides guaranteed acceptance. If you don't fulfill the Low Rate Guaranteed card's standards based on your application result and credit score, you'll be routed to the Guaranteed Secured Mastercard, which needs you to pay in security money as a deposit. Regardless of which option you choose, both cards reflect your credit history, so by properly using your card, you may improve your credit score.

Annual fee: $79
Interest rate: 14.9% on purchases and balance transfers
Additional perks: Price protection service; purchase assurance; extended warranty; common carrier travel accident insurance; car rental collision/loss damage waiver; baggage delay and travel assistance
Income required: None specified

The difference between instant approval and guaranteed approval Credit card approvals have become more quick as a result of internet applications, although this does not ensure acceptance. Eligibility conditions for cards with "immediate approval" are often stated. Instant acceptance refers to the institution's algorithmic technology and established criteria approving your application in minutes. Visa Infinite cards, for example, often have a minimum income threshold of $60,000. If you don't satisfy that requirement, you'll be denied right away. Guaranteed approval, on the other hand, is a subset of credit card types known as "secured" credit cards. These cards are ideal for anyone wishing to improve their credit score, whether they don't have one or are trying to restore a terrible credit history.

A secured credit card requires a deposit to secure the card's limit, which is why it's termed "secured." This is done in the event that you fall behind on your payments. Unsecured cards, on the other hand, are accepted based on a variety of characteristics, including credit score, connection with the financial institution, and payment history, among others. As a result, guaranteed approvals are often connected with secured credit cards and are often straightforward to get. 

Tips for applying for an instant approval credit card If you're applying for a credit card with rapid approval, the following ideas may help you succeed:

Understand your credit score: Depending on the card you're asking for, your credit score will play a role in determining whether you'll be accepted right away.

Consider retail and shop credit cards if you have a respectable credit score (600 to 649) and other considerations such as payment history and connection with the provider. Apply for a reward-based card, such as a cash back credit card, if your credit score is 650 or above. If your credit score is 700 or better, you may apply for premium cards such as Visa Platinum/Infinite or Mastercard World/World Elite. If your credit score is below 600, you might choose a secured card that requires a deposit.

Make a plan for your credit card applications:

When you apply for a credit card, the issuer may do a rigorous credit check, which may have a temporary negative effect on your credit score. These checks establish your credit history and eligibility, but submitting too many applications at once is considered "risky." To improve your credit score and history, spread out your applications.

Before you apply, make sure you understand the card's minimal income requirements: 

The credit card networks often establish income limitations (think Visa and Mastercard). Visa Infinite cards, for example, need a minimum annual income of $60,000, whereas Visa Infinite Privilege cards need a minimum annual income of $150,000 for an individual or $200,000 for a family. If you don't satisfy the income standards, you'll be turned down right away.

Examine your current credit card debts: Banks are less likely to accept your application if you currently owe money on one or more credit cards—either more than 30% of your overall credit limit or more than 40% of your income. To improve your chances of acceptance when applying for a new card, first address your debt by paying a major chunk of it back.

Declare all of your earnings: This covers your main paycheck, as well as your side hustles and part-time gigs. Never, ever, ever, ever, ever, ever, ever, ever, ever, ever, ever, ever, ever, ever, ever, ever, ever, ever, ever, ever, ever Furthermore, certain financial institutions may allow you to record a total household income instead if you are a member of a household (i.e. you live with a spouse).

Examine your credit report on a regular basis: It's a good idea to get a copy of your whole credit report to examine what goes into your score. These reports are a crucial factor in how an issuer evaluates your eligibility, so if anything doesn't seem to be correct, or if there's an error, you should correct it before applying for a new card.