Apply For An Instant Online Approval Credit Card

Information verified correct on October 21st, 2016
happy lady approved for credit card application online

Learn more about instant approval credit cards in this handy guide

Instant approval credit cards are a fancy term for giving you the option to apply for a credit card online without needing to wait for your banks approval. These usually give you an answer within seconds and you can easily apply for a credit card in your lunch break. But how effective are instant approval credit cards and are they really out there, or is this just a fancy marketing term to suck in more customers?

Many people wonder how instant approval credit cards work. The biggest question is whether you can get access to your new credit card the moment it is approved. The answer is no. Even so your card might be approved in seconds the lender still needs to issue your card to you. This can take weeks.

However, through the instant approval you’ll still get your card much sooner than going to your bank and applying with a form. The slowest version would be the mailed application.

What to expect when trying to apply for an instant approval credit card:

    • Identity validation

      Most lenders will need you to identify yourself with legal documents when applying for a credit card. This serves as a protection against identity theft for both you and the lender. You will need to follow the 100 points identification requirements and the following documents can help you do this:

  • Passport
  • Birth certificate
  • Citizenship certificate
  • Drivers license
  • Other photo ID with signature
  • Utility bill (phone, electricity, phone)
  • Existing credit card with signature
  • Medicare card

Even with instant approval credit cards you probably have to verify your identity by visiting your bank branch the following day or by         phone.

    • Instant approval credit cards will not be given to all applicants

      Many people believe that these cards will be given to anybody keen to apply. This is not so. If your current credit rating is bad, then your application will be denied. By applying for an instant approval credit card you give the lender permission to access your credit file.

    • The application process

      It is a good idea to assemble all documents and information before doing applying for instant approval credit cards. You’ll need income statements to be able to fill out the application and depending on the lender more information is needed.

      All in all, instant approval credit cards can place plastic in your hand faster than doing the application the traditional way. But in the end, this will depend on your credit history and the lender chosen.

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Credit Cards Comparison

Rates last updated October 21st, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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