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Best Instant Approval Credit Cards in Canada for February 2024

This Page's Content Was Last Updated: December 5, 2023
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What You Should Know

  • Instant approval cards let you know within minutes of application whether your application is approved or rejected.
  • Instant approval is different from guaranteed approval because credit card providers will reject your application if you are not eligible for the card.
  • Instant approval credit cards are usually processed and delivered to you within 5 to 7 business days.
  • Some instant approval cards issue a digital card that can be used to make purchases right after approval.
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About Instant Approval Credit Cards

Nowadays, most credit cards offer instant approval. When looking for a credit card online, you might see terms such as ‘get a response within 60 seconds’ or ‘apply now and get a response in as little as 60 seconds.’ The credit card instant approval relies on the card issuer’s underwriting algorithms to determine whether you meet the qualification requirement.

how Approval works

Some of the best credit cards in Canada have an instant approval process. Even some business credit cards offer instant approval. Within a few minutes (sometimes seconds) of completing your applications, you will be notified if your application is approved or rejected. Some applications require manual review or additional documents, which may delay the application process by as long as 30 days.

Your application should be processed instantly if you have a good credit score and a couple of credit cards from large lenders. On the other hand, if you have an insufficient credit history or no credit cards on your credit report, the credit card provider will likely ask you for additional information.

Best Instant Approval Credit Cards for Rewards

AMEX Cobalt

Credit Card Image

Key Features

Annual Payment IconAnnual Fee

$155.88

Interest Rate IconInterest Rates

Purchase: 20.99%

Cash: 21.99%

Min Income IconMin. Income

No Income Required

Credit Score IconCredit Score

580

or More


Rewards: AMEX Points

1 AMEX Point ≈ ¢1

  • 5 AMEX Points for each $1 spent on: grocery, restaurants and food delivery.
  • 3 AMEX Points for each $1 spent on: streaming.
  • 2 AMEX Points for each $1 spent on: gas, travel and transit.
  • 1 AMEX Point for each $1 spent on: everything else.

Scotiabank Gold American Express

Credit Card Image

Key Features

Annual Payment IconAnnual Fee

$120.00

Interest Rate IconInterest Rates

Purchase: 20.99%

Cash: 22.99%

Min Income IconMin. Income

No Income Required

Credit Score IconCredit Score

580

or More


Rewards: Scene+ Points

1 Scene+ Point ≈ ¢0.7

  • 6 Scene+ Points for each $1 spent on: grocery.
  • 5 Scene+ Points for each $1 spent on: restaurants and entertainment.
  • 3 Scene+ Points for each $1 spent on: gas, transit and streaming.
  • 1 Scene+ Point for each $1 spent on: everything else.

AMEX Marriott Bonvoy

Credit Card Image

Key Features

Annual Payment IconAnnual Fee

$120.00

Interest Rate IconInterest Rates

Purchase: 20.99%

Cash: 21.99%

Min Income IconMin. Income

No Income Required

Credit Score IconCredit Score

580

or More


Rewards: Marriott Bonvoy Points

1 Marriott Bonvoy Point ≈ ¢0.7

  • 5 Marriott Bonvoy Points for each $1 spent on: Marriott purchases.
  • 2 Marriott Bonvoy Points for each $1 spent on: everything else.

Canadian Tire Triangle World Elite Mastercard

Credit Card Image

Key Features

Annual Payment IconAnnual Fee

$0.00

Interest Rate IconInterest Rates

Purchase: 20.99%

Cash: 22.99%

Min Income IconMin. Income

Household: $150,000.00

Individual: $80,000.00

Credit Score IconCredit Score

580

or More


Rewards: CT Money Points

1 CT Money Point ≈ ¢100

  • 0.04 CT Money Point for each $1 spent on: select merchants.
  • 0.03 CT Money Point for each $1 spent on: grocery.
  • 0.01 CT Money Point for each $1 spent on: everything else.

Best Instant Approval Credit Cards for Cash Back

BMO CashBack World Elite Mastercard

Credit Card Image

Key Features

Annual Payment IconAnnual Fee

$120.00

Interest Rate IconInterest Rates

Purchase: 20.99%

Cash: 23.99%

Transfer: 23.99%

Min Income IconMin. Income

Household: $150,000.00

Individual: $80,000.00

Credit Score IconCredit Score

580

or More


Cash Back

  • 5% Cashback for each $1 spent on: grocery.
  • 4% Cashback for each $1 spent on: transit.
  • 3% Cashback for each $1 spent on: gas.
  • 2% Cashback for each $1 spent on: recurring bills.
  • 1% Cashback for each $1 spent on: everything else.

Simplii Financial Cash Back Visa

Credit Card Image

Key Features

Annual Payment IconAnnual Fee

$0.00

Interest Rate IconInterest Rates

Purchase: 19.99%

Cash: 22.99%

Min Income IconMin. Income

Household: $15,000.00

Credit Score IconCredit Score

580

or More


Cash Back

  • 4% Cashback for each $1 spent on: restaurants.
  • 1.5% Cashback for each $1 spent on: gas, grocery, drugstores and recurring bills.
  • 0.5% Cashback for each $1 spent on: everything else.

Meridian Visa Infinite Cash Back

Credit Card Image

Key Features

Annual Payment IconAnnual Fee

$99.00

Interest Rate IconInterest Rates

Purchase: 19.50%

Cash: 21.99%

Min Income IconMin. Income

Household: $100,000.00

Individual: $60,000.00

Credit Score IconCredit Score

580

or More


Cash Back

  • 4% Cashback for each $1 spent on: gas and grocery.
  • 2% Cashback for each $1 spent on: utility and drugstores.
  • 1% Cashback for each $1 spent on: everything else.

Desjardins Cash Back World Elite Mastercard

Credit Card Image

Key Features

Annual Payment IconAnnual Fee

$100.00

Interest Rate IconInterest Rates

Purchase: 19.90%

Cash: 19.90%

Min Income IconMin. Income

Household: $150,000.00

Individual: $80,000.00

Credit Score IconCredit Score

580

or More


Cash Back

  • 4% Cashback for each $1 spent on: grocery.
  • 3% Cashback for each $1 spent on: transit, restaurants and entertainment.
  • 1% Cashback for each $1 spent on: everything else.

Best No Fee Instant Approval Credit Cards

Neo Financial Secured Credit

Credit Card Image

Key Features

Annual Payment IconAnnual Fee

$0.00

*$50 minimum deposit required.

Interest Rate IconInterest Rates

Purchase: 29.99%

Cash: 31.99%

Min Income IconMin. Income

No Income Required

Credit Score IconCredit Score

No Minimum
Credit Score


Cash Back

  • 15% Cashback for each $1 spent on: select merchants.
  • 6% Cashback for each $1 spent on: restaurants.
  • 2% Cashback for each $1 spent on: gas and grocery.

Simplii Financial Cash Back Visa

Credit Card Image

Key Features

Annual Payment IconAnnual Fee

$0.00

Interest Rate IconInterest Rates

Purchase: 19.99%

Cash: 22.99%

Min Income IconMin. Income

Household: $15,000.00

Credit Score IconCredit Score

580

or More


Cash Back

  • 4% Cashback for each $1 spent on: restaurants.
  • 1.5% Cashback for each $1 spent on: gas, grocery, drugstores and recurring bills.
  • 0.5% Cashback for each $1 spent on: everything else.

Canadian Tire Triangle World Elite Mastercard

Credit Card Image

Key Features

Annual Payment IconAnnual Fee

$0.00

Interest Rate IconInterest Rates

Purchase: 20.99%

Cash: 22.99%

Min Income IconMin. Income

Household: $150,000.00

Individual: $80,000.00

Credit Score IconCredit Score

580

or More


Rewards: CT Money Points

1 CT Money Point ≈ ¢100

  • 0.04 CT Money Point for each $1 spent on: select merchants.
  • 0.03 CT Money Point for each $1 spent on: grocery.
  • 0.01 CT Money Point for each $1 spent on: everything else.

CIBC Costco Mastercard

Credit Card Image

Key Features

Annual Payment IconAnnual Fee

$0.00

Interest Rate IconInterest Rates

Purchase: 19.75%

Cash: 21.49%

Min Income IconMin. Income

No Income Required

Credit Score IconCredit Score

580

or More


Cash Back

  • 3% Cashback for each $1 spent on: Costco gas and restaurants.
  • 2% Cashback for each $1 spent on: gas and Costco.ca Purchases.
  • 1% Cashback for each $1 spent on: everything else.

Best Low-Interest Instant Approval Credit Cards

Home Trust Equityline Visa

Credit Card Image

Key Features

Annual Payment IconAnnual Fee

$0.00

*Home Equity is required as collateral.

Interest Rate IconInterest Rates

Purchase: 8.99%

Cash: 8.99%

Min Income IconMin. Income

No Income Required

Credit Score IconCredit Score

580

or More

MBNA True Line® Gold Mastercard®

Credit Card Image

Key Features

Annual Payment IconAnnual Fee

$39.00

Interest Rate IconInterest Rates

Purchase: 8.99%

Cash: 8.99%

Min Income IconMin. Income

No Income Required

Credit Score IconCredit Score

580

or More

Scotiabank Platinum American Express

Credit Card Image

Key Features

Annual Payment IconAnnual Fee

$399.00

Interest Rate IconInterest Rates

Purchase: 9.99%

Cash: 9.99%

Transfer: 9.99%

Min Income IconMin. Income

Individual: $12,000.00

Credit Score IconCredit Score

660

or More


Rewards: Scene+ Points

1 Scene+ Point ≈ ¢0.7

  • 2 Scene+ Points for each $1 spent on: all eligible purchases.

Desjardins Flexi Visa

Credit Card Image

Key Features

Annual Payment IconAnnual Fee

$0.00

Interest Rate IconInterest Rates

Purchase: 10.90%

Cash: 12.90%

Min Income IconMin. Income

No Income Required

Credit Score IconCredit Score

580

or More

What Are Instant Approval Credit Cards?

Instant approval credit cards tell you whether your application is approved or rejected immediately. Card issuers these days use underwriting algorithms that help them approve or reject an application within minutes. Nowadays, most credit cards from no-fee credit cards to high-end credit cards have an instant approval feature making it easy for Canadians to get apply for credit cards. Instant approval saves the applicant and the card issuer a lot of time by expediting the underwriting process, which may take weeks otherwise.

Usually, the physical card is delivered to the applicant within 5-7 business days. Some card issuers may also issue a digital card that can be used immediately upon approval. This can be particularly useful if you intend to use the card soon. For example, if you apply for a travel credit card that you want to use for an upcoming trip, you do not wish to wait for weeks to receive your credit card.

You can apply for instant approval credit cards online, over the phone, in person at a bank branch, or in-store (for store credit cards). All the large banks in Canada offer credit cards with instant approval. You will need to have some information handy when applying for an instant approval credit card. A typical credit card application would require the following information:

  • Identity information and contact details.
  • Occupation, income, and employment information.
  • Mortgage payments and other payments, such as condo fees.
  • Your current living arrangement (own house/rental/living with relatives).
  • Your SIN number (optional but helpful).

Apart from these, you need to ensure you meet basic requirements such as:

  • Be a Canadian resident.
  • Be of mature age in your province of residence.
  • Not have a declared bankruptcy in the last seven years.

How to Increase Your Odds of Instant Approval for a Credit Card

To be instantly approved, you need to meet the qualification requirements for the credit card. The following factors may affect the credit card instant approval decision:

  • Your Credit Score: You can check your credit score with Equifax and TransUnion for free. Doing so will not hurt your credit score and will help you determine if you are eligible to be approved for a particular credit card.

    You may be eligible to apply for different kinds of credit cards based on your credit score. According to Equifax, credit scores from 660 to 724 are considered good, 725 to 759 are considered very good, and 760 and above are considered excellent. If you have a credit score below 660, you may not be approved instantly for an unsecured credit card, but you may still be approved for a secured credit card.

  • Income Requirements: Many credit cards have a minimum income requirement for approval. For example, some cards require a minimum annual individual income of $60,000 or a household income of $100,000. You must meet this requirement before applying for a credit card.

  • Accurate Information: It is important to provide accurate information about yourself on your application. If the information provided by you doesn’t match your background, your identity cannot be verified, and your application may need a manual review.

  • Number of Credit Inquiries: Every time you apply for a credit card, the lender performs a hard credit check, temporarily lowering your credit score. Too many credit checks in a short timespan can hurt your credit score and flag your credit file as risky, which may lead to your credit card application being rejected. If you have recently applied for a credit card, waiting for at least three to six months before the next application is ideal.

  • Credit Card Debt: A balance on your credit card accounts also negatively affects your credit score. Paying off a significant portion of your credit card debt before applying for a new credit card would increase your chances of approval.

Frequently Asked Questions

Can I Get a New Credit Card Instantly?

Yes, some credit cards can be used instantly from your phone. Some credit card issuers offer digital cards that can be loaded on your phone once your instant approval credit card application is approved. For example, American Express provides a digital credit card as soon as you are approved.

Can I Get a Credit Card in 3 Days?

You may not get a physical card within three days, but you may get a digital credit card as soon as your application is approved. It takes 5 to 7 business days to deliver your credit card, but some lenders offer a digital credit card that can be used on your phone as soon as you are approved.

How Is Instant Approval Different From Guaranteed Approval?

Instant approval does not guarantee approval, while guaranteed approval always leads to a successful application. Instant approval is often used on regular credit cards, while guaranteed approval is usually used for secured and prepaid credit cards.

The calculators and content on this page are provided for general information purposes only. WOWA does not guarantee the accuracy of information shown and is not responsible for any consequences of the use of the calculator.