To gather information about these cards, we contacted the customer service departments of each card issuer and reviewed the account disclosures for each card.įor more instant approval options, see our list of department store credit cards with instant approval. Instant approval credit cards provide a decision immediately after you submit your credit application.īelow is a list of options for instant approval credit cards for a variety of credit scores. We have a variety of closed-loop and open-loop store cards listed below. Not all store cards are closed-loop those with a major credit card name on them as well as the store name can be used anywhere. Closed-loop cards, such as a Kohl’s or Macy’s credit card, can only be used at a specific store. For example, a Visa card is an open-loop card. Open- or closed-loop card: Open-loop cards can be used anywhere.Prepaid cards are accepted anywhere that credit cards are accepted. Prepaid credit cards: A prepaid credit card is issued by a financial institution and is preloaded for use before making a purchase.If you have received a pre-screened credit card offer in the mail, it is very likely you will be approved for that card. Pre-screened credit cards: Pre-screened credit card offers are to sent to ideal applicants by mail based on positive credit history.See our list of cards that preapprove for more information on cards of this type. Depending on your credit score, you may or may not qualify for a pre-approved card. The catch is, the term “pre-approved” really just implies you are pre-approved to apply. Pre-approved credit cards: You have probably received a pre-approved credit card in the mail.In some cases, further information will be needed, extending the process by a few days or even weeks. Instant approval credit cards: Instant approval does not mean guaranteed approval. Rather, with instant approval credit cards, a decision on your approval will usually be made within 60 seconds.Usually, credit scores between 300 and 579 are considered Poor scores of 580 to 669 are Fair scores of 670 to 739 are Good scores of 740 to 799 are Very Good, and scores over 800 are Excellent. Your credit score will determine your credit card approval, as well as your credit limit. Credit status: Be sure to check your credit score before applying for a credit card.Be aware that instant approval credit cards sometimes have high interest rates.
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Annual percentage rate (APR): The APR is the interest rate you’ll pay if you do not pay off your credit card balance in full each month.While there are several instant approval credit cards to choose from, they vary in terms of APR, fees, credit requirements, and benefits.įamiliarize yourself with the following terms so you can find the card that best fits your needs. Instant Approval Cards for Immediate Use.
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