Instant Approval Credit Cards

Some credit card companies market their cards as "instant approval credit cards." The idea is that you can fill out a credit card online application and find out immediately whether you are approved and what your credit limit will be. The card issuers always reserve the right to change the credit limit once they've completed their underwriting process, but at least you get an answer right away. Having applied for many credit cards online, I thought most of them gave you a response within about 60 seconds. At least I believed that until I get an email from a friend. Here's what happened.

A few days ago, a good friend of mine emailed me that he had applied for a balance transfer credit card from this site. By itself this didn't surprise me. Credit card transfers can be a great way to get cash at zero or near zero percent interest. But it's what he said next in his email that caught me attention: "I applied for IBERIABANK -- it only took 15 minutes, more or less. After I finished the online application, I had to fax a recent pay stub. Fortunately, I have one. " He had to fax a pay stub?!! Having applied online for many credit cards, never once had a card issuer asked me to fax proof of income.

As surprised as I was at the pay stub requirement, his next statement really floored me: "They claim it will take 30 days, which is going to run me close." 30 days to get a credit card! Well, at this point I had to undertake an investigation, and in the process, learned quite a bit about credit card applications and how card issuers process them.

It turns out that certain credit cards require applicants to fax proof of income. This can be in the form of a pay stub, as in my friend's case, a W-2 or even a copy of your tax returns. After that, these card companies can take up to 30 days to evaluate your credit history and either approve or decline your application. Of the credit card offers you'll find on this site, two card issuers fall into this category: IberiaBank credit cards and Pulaski credit cards.

Both offer credit cards with extremely competitive terms. For example, they both offer a 0% APR balance transfer for 6 months with no balance transfer fee. And they both offer extremely low interest rates, at least compared to most other credit cards. The IberiaBank Visa Classic, for example, offers an interest rate on purchases that currently is just 6.25%. As you would expect, these credit cards require excellent credit. So while you can get really good terms with both of these card issuers, the application process is more tedious, and you may have to wait up to 30 days to get a decision.

If you are looking to get a credit card faster, you'll need to turn to an instant approval card. In my experience, many credit cards will give you a decision instantly when you apply online, but not all card issuers market their credit cards as instant or fast approval. Here's how it works. After you submit your online credit card application, the card issuer makes an initial determination based on, among other things, your credit score. Typically, a decision is then emailed to you in about 60 seconds. There are situations that arise where even an instant approval card needs to take more time to evaluate an applicant. But most of the time, you get a decision right away.

With that, here are several credit cards that typically issue a decision very quickly.

Discover® More(SM) Card - Clear
	5% to 20% Cashback Bonus® at Top Online Retailers* Up to 1% Unlimited Cashback Bonus® on All Other Purchases Automatically Increase, Even Double, Your Rewards When You Redeem for Gift Cards from Our 100 Cashback Bonus® Partners No Annual Fee Online Account Access Online Bill Payment
Intro APR Intro APR Period Regular APR Annual Fee Balance Transfer Credit Needed 0% APR for 6 Months 6 Months as low as 11.99% $0 Yes Very Good

American Express (R) Preferred Rewards Gold Card
	Earn 10,000 Membership Rewards(R) bonus points when you spend $500 in 3 months - redeemable for a $100 gift card! The Membership Rewards(R) program - Earn 1 Membership Rewards(R) point for virtually every dollar you spend and redeem for your choice of travel, shopping, and entertainment rewards. Gold Card Events - exclusive access to tickets for select concerts, shows, major sporting events, and more in cities nationwide. Express Approval. Get a decision in less than 60 seconds.
Intro APR Intro APR Period Regular APR Annual Fee Balance Transfer Credit Needed N/A N/A N/A $125 annual fee No N/A

Platinum Card(R) from American Express
	Earn 25,000 Membership Rewards(R) bonus points when you spend $1,000 in 3 months - Redeemable for one round-trip domestic airline ticket! 24-hour access to Concierge service for the finest experiences in dining, entertainment, and luxury Fine Hotels & Resorts Program - exclusive amenities at boutique, resort, and luxury hotels around the world By Invitation Only(R)Events - access to exclusive, once-in-a-lifetime events Complimentary Airport Club Access The Membership Rewards First(R) program - Enjoy exclusive access to rewards and experiences featuring luxury retail, lifestyle, and world-class travel
Intro APR Intro APR Period Regular APR Annual Fee Balance Transfer Credit Needed N/A N/A N/A $450 annual fee No N/A

Starwood Preferred Guest(R) Credit Card from American Express
	Earn up to 25,000 Starpoints (R) - enough for up to 6 free nights at a category 1 or 2 hotel. Use Starpoints(R) for free nights and upgrades at participating Starwood hotels and resorts in 95 countries including Sheraton, W Hotels, Westin and more with no blackout dates No annual fee for the first year and $45 thereafter Transfer Starpoints(R) - almost always on a 1:1 basis - to the frequent flyer programs of over 30 major airlines Earn one Starpoint(R) for every dollar you spend and double Starpoints(R) at participating Starwood properties and retail partners Express Approval. Get a decision in less than 60 seconds.
Intro APR Intro APR Period Regular APR Annual Fee Balance Transfer Credit Needed 2.90% for 6 months 6 Months 15.24% No annual fee for the first year - $45 thereafter Yes N/A

Platinum Delta SkyMiles(R) Credit Card from American Express
	Earn 20,000 bonus SkyMiles(R) (including 5,000 Medallion Qualification Miles) after first purchase and another 2,500 for adding an Additional Cardmember Earn one companion Coach Class ticket each year upon renewal Earn at least 1 mile for every eligible dollar spent Miles never expire and there is no cap on the miles you can earn Pay with Miles: Pay for all or part of your flight with miles - and put the rest on your Card Express Approval. Get a decision in less than 60 seconds.
Intro APR Intro APR Period Regular APR Annual Fee Balance Transfer Credit Needed N/A N/A 14.50% $150 per year No N/A

*We do our best to accurately reflect the terms and conditions of credit card offers on this site. But please recognize that these terms and conditions can and do change from time to time. When you are evaluating credit card offers, please make sure to read the terms and conditions on the credit card issuer's website, as they may have changed since the information was last updated on this site.