Instant Approval Credit Cards Canada

When you think of applying for a credit card, you could be thinking that it is a long process that will take a lot of time and this can dissuade you from applying. There are instant approval credit cards out there that can provide you an immediate answer when applying for credit.

What are instant approval credit cards?

Instant Approval Credit Cards

These credit cards are a way of obtaining credit without having to wait a lengthy period of time to get it. These cards are the kind where you put in the application and you get the decision immediately or within a few minutes.

Instant approval credit cards provide you the peace of mind you need by not making you wait a few weeks for a decision. The application is done and you will have your answer within minutes of submitting it. This will provide you peace of mind because you don’t have to wait for an answer and you know what is happening right away.

The qualifications for instant approval credit cards

  • Being over the age of 18.
  • Having a source of income from employment or that is consistent.

When looking into instant approval credit cards there are a few things you are going to want to compare before choosing which one to apply for.

Be sure to compare

  • Interest rates that are varied by lender.
  • Annual charges that are associated with the different cards.
  • Credit limits that can vary depending on the lender.
  • Additional fees that could come as a surprise.

When looking for instant approval credit cards, this can make you feel overwhelmed because there is a large number of options available to you. You don’t want to apply to every one out there because as part of the approval process, there will be a quick credit check before you can get your decision.

Here are Bonsai Finance we can help you with this process to take away all the information that will overwhelm you. We will simplify the process for you by finding the lenders that provide instant approval credit cards and going over the terms and conditions with you. We will also help you make an informed decision so that you don’t end up with a credit card that isn’t what you need.

  • Bonsai Finance Credit Card Finder

    Issuer Various
    Independent reviews and ratings of the top credit cards available in Canada Simple filtering and selection tool allows you to browse offers side-by-side Honest, original content that helps you make decisions Show more
    Issuer Various
    Annual FeeCredit RecommendedOur take
    Various All scores acceptedSimple and effective credit card comparison engine helps you choose the best card for you
    Annual Fee Various
    Credit RecommendedAll scores accepted
    Our takeSimple and effective credit card comparison engine helps you choose the best card for you
    Independent reviews and ratings of the top credit cards available in Canada Simple filtering and selection tool allows you to browse offers side-by-side Honest, original content that helps you make decisionsShow more
  • Meridian™Visa* Cash Back Card

    Issuer Meridian Credit Union
    • Earn 1% cash back on gas, grocery and pharmacy store purchases and utility bill payments.
    • Earn 0.5% cash back on all other eligible purchases.
    • Redeem at any time for cash back or merchandise.
    • Free additional cards.
    • Purchase protection and extended warranty.
    • Travel accident insurance.
    • Mobile device insurance.
    • Global Customer Service
    • Price Protection.
    • Zero Liability.
    • Features and Benefits: Purchase protection and extended warranty. Travel accident insurance.
      *Terms Apply. Show more
    Issuer Meridian Credit Union
    Regular APRAnnual FeeCredit RecommendedOur take
    19,50% No annual fee AverageNo fee card with cash back or credits for everyday purchases
    Regular APR19,50%
    Annual Fee No annual fee
    Credit RecommendedAverage
    Our takeNo fee card with cash back or credits for everyday purchases
    • Earn 1% cash back on gas, grocery and pharmacy store purchases and utility bill payments.
    • Earn 0.5% cash back on all other eligible purchases.
    • Redeem at any time for cash back or merchandise.
    • Free additional cards.
    • Purchase protection and extended warranty.
    • Travel accident insurance.
    • Mobile device insurance.
    • Global Customer Service
    • Price Protection.
    • Zero Liability.
    • Features and Benefits: Purchase protection and extended warranty. Travel accident insurance.
      *Terms Apply. Show more
  • No Fee Home Trust Secured Visa Card

    Issuer Home Trust Company
    • Build or re-build your credit, even if you've had credit difficulties in the past, or have never had a credit card before!
    • An excellent opportunity to establish your credit rating.
    • Virtually everyone is approved.
    • Make purchases over the phone or online.
    • Plan and book a vacation.
    • Access cash anytime, anywhere from over 1 million ATMs around the world displaying the Visa or Plus logo.
    • Shop at over 24 million locations worldwide.
      *Terms Apply. Show more
    Issuer Home Trust Company
    Regular APRAnnual FeeCredit RecommendedOur take
    19,99% No annual fee No creditGuaranteed approval card with low interest rate and low annual fee
    Regular APR19,99%
    Annual Fee No annual fee
    Credit RecommendedNo credit
    Our takeGuaranteed approval card with low interest rate and low annual fee
    • Build or re-build your credit, even if you've had credit difficulties in the past, or have never had a credit card before!
    • An excellent opportunity to establish your credit rating.
    • Virtually everyone is approved.
    • Make purchases over the phone or online.
    • Plan and book a vacation.
    • Access cash anytime, anywhere from over 1 million ATMs around the world displaying the Visa or Plus logo.
    • Shop at over 24 million locations worldwide.
      *Terms Apply.Show more

What are the benefits of instant approval credit cards?

  • You get an answer right away.
  • You can start yourself on the path to a sound credit history with clear expectations.
  • You will know what your credit limit is immediately.

When looking into credit cards that have instant approval, you want to make sure you are choosing the one that suits your needs. They come in a variety of different types such as, rewards cards, department store cards and cash back options. You don’t want a card that provides you with something you don’t need or offers you more than what you need.

Our team at Bonsai finance only deals with reputable lenders and by sitting down and talking to us, we can help you find the lender that suits you best. We can help you decipher terms and conditions and help you go through the variables of each option. By letting us help you through the process, you will be able to securely and confidently apply for the credit card that you know is best suited to for your situation and needs.

There are so many things that can make applying for a credit card a daunting process for you. Our team of experts can help you through this process and let you have the peace of mind you want with instant approval credit cards.

Instant Approval? Isn’t That Too Good To Be True?

Most credit cards take a while to get back to you about whether you’ve been approved or not, but obviously, instant approval cards are different. Cards that advertise that they have an instant approval process usually take care to keep their requirements very low and specific so it’s easy for them to tell if someone meets them or not. Either you have the financial profile that meets those requirements or you don’t, but it’s not up for debate and the answer can be given to you virtually on the spot. You don’t need to be wary that there might be a catch with these cards – some might have higher interest rates, fewer rewards or other restrictions, but you should be able to get all the information you need on these kinds of things from the supplementary material on each card if you want it.

One more thing: it’s important to remember that instant approval does not mean guaranteed approval. Credit cards Canada instant approval are generally very easy to get, but even if you’re choosing them for that purpose specifically, there is still a chance that you will be turned down. Keep this in mind and tailor your expectations appropriately, and keep in mind that one setback does not equal total failure; if the worst happens and you are denied on your first try, you always can look for another card and try again.

Be Prepared To Go Secured

While there are certainly plenty of credit cards Canada instant approval on the market and most applicants could just take their pick of them as they see them, that doesn’t mean you won’t have to potentially give things up in exchange for the fast response. One of the most common concessions you will have to make is choosing to go with a secured card instead of an unsecured one. This will be a bit of a compromise option for you, but it isn’t something you should be afraid of doing if it will get a much-needed credit card into your hands.

These credit cards still give you access to a line of credit, but they ask you to back up your request for them to trust you with that privilege with some of your own money. Getting one requires sending in a deposit of a few hundred to a few thousand dollars, the sum of which becomes your new credit limit. The provider then holds this money for the duration of the time in which you have the card. You still make payments on the balances you accrue and generally treat it just like a standard card, but that deposit money is there to make sure that if you don’t pay, the company can recoup what you owe without having to simply hope you change your mind about how you treat your debts.

Obviously, it’s not ideal to have to essentially pay twice for all your purchases (even if you’ll get the deposit back later if you keep on top of your balance). No one wants to have to do things this way. However, because the risk to them is essentially non-existent, lenders are very permissive with this type of card and are far more willing to give instant approvals for them. There are a lot of cards like this in this product category, and even though they’re a little different than what you might be used to, they might still be a good option for you.

We Make It Easy To Find Credit Cards Canada Instant Approval

Not every credit card out there has instant approval procedures, and you can’t always tell the ones that do with a cursory look at their websites. If you’re looking specifically for credit cards Canada instant approval, it makes sense to use all the tools at your disposal to narrow down your search. Bonsai Finance’s web search tool is one that you might not have been aware of but that can greatly help you in this endeavour. Visit us now and you can browse through all of the cards with known instant approval policies in one convenient list. It takes all the guesswork out of getting a credit card in your hand fast, and that will make things much easier for you and those like you.