Sometimes getting the right credit card for yourself is not easy especially if you have bad credit. However, we have made the search much easier for you by giving an overview of some instant-approval credit cards you can get with bad credit.
Credit cards are small cards issued by banks, building societies, etc. that allow their holders to purchase goods and services on credit.
Read this article to get full details on credit cards, their types and how they work.
Instant Approval Credit Cards
Instant approval credit cards are cards that can process applications in minutes and provide funds immediately. Some issuers will even provide you with a credit card number that you can use right away if you are approved.
A good credit score will give you more options. However, instant approval credit cards are also available for those with bad credit or no credit at all. Also, a secured credit card may be required in some cases.
While you should never charge more than you can afford to repay, if you’re in a situation and need money right away, instant approval cards can help.
Bad Credit Instant Approval Credit Cards
Now, here are some bad credit instant approval credit cards you should consider and their features;
Secured Instant Approval Credit Cards With Bad Credit
These may be the easiest types of credit cards to obtain even with a bad credit because of the deposit. For many cards, the size of your deposit determines the size of your credit line. Here are some card options under this category and their features;
First Progress Platinum Select Mastercard® Secured Credit Card
The features of this card are;
- 1% Cash Back Rewards on all First Progress Secured credit card payments.
- The card reports to all three major credit bureaus.
- With the First Progress Card Mobile App, you can manage your statements, transactions, and rewards on the go!
- Also, there is no requirement for a minimum credit history or credit score!
- You can be rewarded for simply paying your monthly bill.
- It is accepted everywhere Mastercard is accepted, both online and in person!
First Latitude Platinum Mastercard® Secured Credit Card
The major features of this card are;
- With this card, you can earn 1% Cash Back Rewards on your First Latitude Secured credit card payments.
- If you pay on time for six months, you can apply for a second credit card in your wallet.
- Cardholders who keep their balances low and pay their credit card bills on time each month typically see their credit score rise.
- Also, you start building credit the moment you open an account; simply pay your bills on time to establish credit.
- This credit card reports to all three major credit bureaus.
- First Latitude is accepted everywhere Mastercard® is accepted, both online and in person!
Unsecured Instant Approval Credit Card with Bad Credit
These cards do not require any security deposit to open. They are made particularly appealing to people with poor credit looking to build their credit up. Here are some types of cards under this category.
Aspire® Cash Back Reward Card
The major features of this card are;
- With the Aspire® Mastercard® Credit Card, you can earn 3% cash back on gas, grocery, and utility purchases.
- You can also earn 1% cash back on all other purchases.
- Credit approval is required for a credit limit of up to $1,000.
- You can pre qualify without negatively affecting your credit score.
- The card does not require deposits or program fees.
- Equifax provides free access to your Vantage 3.0 score.
- 60 days after your account is opened, your credit score will be available in your online account. Equifax’s free VantageScore 3.0 credit score is provided for educational purposes only and may not be used to make credit decisions by The Bank of Missouri (the card’s issuer) or other creditors.
PREMIER Bankcard® Mastercard® Credit Card
The major features of this card are;
- This card approves for FICO scores that some others do not.
- You do not need to have good credit to apply for this card.
- To apply, all you need to do is to Simply fill out the short application and find out if you’re approved in 60 seconds.
- The card’s service has an effective customer care that can attend to you when you need help.
- Approval for any PREMIER Bankcard® product is not guaranteed by a credit score alone.
No Credit Check Instant Approval Credit Cards
The following instant approval credit cards do not require any credit check.
Applied Bank® Secured Visa® Gold Preferred® Credit Card
The features of this credit card are given below;
- To get this card, you do not need any minimum credit score or credit checks.
- It does automatic reporting to all three national credit bureaus.
- It has a low Fixed APR of 9.99%. Even if you are late, your rate will not increase.
- You can activate it immediately with a $200 minimum deposit and a maximum deposit of $1,000.
- You can increase your credit limit up to $5,000 at any time by making additional deposits.
OpenSky® Secured Visa® Credit Card
This is an ideal card to use if you do not have a credit history because it requires no credit check.
Here are some features of this card;
- The initial refundable deposit (starting at $200) you make to secure the card will serve as your credit limit, giving you some control.
- It also includes standard Visa benefits, such as no fraud liability.
- This secured option can be a great stepping stone to a card with more features and benefits when you’re having trouble getting approved for a card because of your credit.
- It is accessible because of the simple approval process and no credit checks.
Instant Approval Credit Cards No Credit – For Credit Builders
These credit cards are the ideal cards to use if you are trying to build your credit.
Discover it® Secured Credit Card
Here are the features of this card;
- The Discover it Secured Credit Card has a plethora of credit-building features.
- Some of its top benefits are; No annual fee, free credit score and credit monitoring, automatic reviews after seven months, $0 fraud liability, and no late fee the first time you make a late payment.
- This is a secured credit card that also allows you to earn rewards: Each quarter, cardmembers earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases, then 1%. Every other purchase earns 1%.
- Also, at the end of your first year, Discover will match all of your rewards.
- It is an ideal card you should go for if you want to improve your credit and earn rewards while doing so.
Is it Guaranteed That I Will Get Approved With Instant Approval Credit Cards?
No, instant approval does not imply guaranteed approval. Once the lender receives your score and approves your application, you can get conditional approval. However, your application may still be denied if a more thorough review of your credit file reveals that you do not meet the lender’s requirements.
Who Should Go For an Instant Approval Credit Card?
You should go for an instant approval credit card if you fall under any of the following categories;
You Are a Money Saver
Balance transfer cards with 0% APR offers can help you save money by allowing you to make interest-free payments for a limited time. A budget and the right instant approval credit card could be a winning combination if you have credit card debt.
The Spender Who Plans Ahead
A budget is always a good idea. Also, knowing how you’ll pay off upcoming expenses keeps you away from unnecessary tension. From home improvements to vacations, an instant approval credit card with an introductory 0% APR or sign-up bonus can help you relax.
An Emergency Spender
It’s difficult to save enough money for emergencies. When your water heater breaks down or your car requires repairs, an instant approval card can relieve some of the stress by quickly letting you know if you’ll be able to get back on track.
Alternatively, it is very good to build an emergency fund for reasons such as these.
In conclusion, you can still get an instant approval credit card if you do not have a very good credit score. The credit cards given in this article have some of the best features for instant approval credit cards. You can visit the major website of any of them to apply.