When we say "instant approval," we mean exactly that. After you fill out your application online, the card issuer's system analyzes your information right away using sophisticated algorithms. No human reviewer needed! Within minutes, you'll know whether you're approved or not.
This streamlined process eliminates that nail-biting waiting period that traditionally comes with credit card applications. You apply, you get an answer—simple as that.
The Best Instant Approval Credit Cards for People with Bad Credit
1. KOHO Prepaid Mastercard (Alternative)
While we're exploring instant approval credit cards, it's worth considering an alternative that might better suit your financial goals.
Unlike traditional credit cards, KOHO offers a prepaid Mastercard paired with a spending and savings account. Here's why it might be worth considering:
The KOHO Advantage
No debt trap: You can only spend what you load onto the card
Works everywhere: Accepted anywhere Mastercard is (which is pretty much everywhere)
Build credit: KOHO's Credit Building feature reports your on-time payments to major credit bureaus
Real-time updates: Track your spending instantly through the app
Earn interest: Make your money work for you while it sits in your account
Cash back rewards: Earn cash back on everyday purchases
Build Credit History With KOHO
Looking to establish or build your credit history? We've got you covered with a simple solution that works behind the scenes.
When you open a KOHO line of credit, we'll automatically set aside a small amount each month—completely separate from your spending balance. These monthly allocations get reported to Equifax as on-time payments.
No complicated steps or risky borrowing required. Just a straightforward, secure way to work toward stronger credit scores while you continue using KOHO as you normally would.
2. American Express Cobalt
The Cobalt isn't just quick to approve—it's incredibly rewarding for everyday spending. You'll earn an impressive 5 points per dollar on groceries, restaurant tabs, and food delivery services. That's serious earning potential on purchases you're already making.
When you're ready to use those points, you've got options. Travel enthusiasts can maximize value through Amex's Fixed Points Rewards chart, where points can be worth up to 1.75 cents each. Prefer simplicity? Their Flexible Points program makes redemption straightforward with 1,000 points always equalling $10 in travel value.
3. PC Mastercard
The PC Mastercard turns regular shopping into serious point collection. You'll rack up:
25 PC Optimum points per dollar at Shoppers Drug Mart
30 points per dollar when filling up at Esso and Mobil stations
10 points per dollar everywhere else Mastercard is accepted
For even more earning power, consider upgrading to the PC World Mastercard or PC World Elite Mastercard if you qualify. These premium options boost your earning to 30 PC Optimum points per dollar (equivalent to 3% back in store credit) at all Loblaws-owned grocery stores—from No Frills and Real Canadian Superstore to Fortinos and more.
4. BMO® CashBack® Mastercard® - Student
This card smartly focuses its best rewards on everyday essentials. You'll earn a generous 3% cash back on groceries (up to $500 monthly), making those midnight study snack runs and meal prep sessions more rewarding.
Your recurring bills—like streaming subscriptions, phone bills, and utilities—earn 1% back (up to $500 monthly), while all other purchases earn 0.5% with no limit. The monthly spending caps reset with each billing cycle, giving you fresh earning potential every 30 days.
For students managing tight budgets, these monthly caps of $500 in each bonus category are typically generous enough that most won't hit them regularly.
What to know before applying
While instant approval credit cards offer convenience, they come with a few important considerations worth understanding before you apply.
Eligibility Requirements Matter
Quick doesn't always mean accessible for everyone. Many instant approval cards are only available to Canadian citizens, permanent residents, or those with eligible work visas. If you're new to Canada, the digital fast track might not be available to you just yet.
New residents typically need to visit a branch in person or have a phone conversation with a banking specialist to complete their application. This allows financial institutions to properly verify your identity and assess your application with additional documentation.
Convenience vs. Benefits
The speediest approval options sometimes offer fewer perks compared to cards with traditional approval timelines. You might notice:
More modest reward structures
Fewer premium benefits and insurance coverages
Potentially higher interest rates on balances
This doesn't mean instant approval cards aren't valuable—they absolutely serve an important purpose. But it's worth weighing whether waiting a few extra days for approval might unlock better long-term value through enhanced rewards or lower fees.
Instant approval ≠ Easy approval
When shopping for credit cards, it's important to understand that "instant approval" and "easy approval" are actually two different things—even though they're often confused.
What "instant approval" actually means
Instant approval cards offer a quick decision process—usually within minutes of submitting your application online. This convenience is about speed, not necessarily accessibility. These cards still evaluate your credit profile, income, and other financial factors just like traditional cards do.
What "easy approval" really means
Easy approval can refer to:
A simple, straightforward application process with minimal paperwork (similar to instant approval cards)
Cards specifically designed for people with limited or damaged credit histories that have lower approval requirements
Options if you're working on your credit
If you're facing credit challenges, secured credit cards offer a more accessible path. These cards require a security deposit (usually $200-$1,000) that typically becomes your credit limit. While they rarely offer rewards and may charge annual fees, secured cards report to credit bureaus—helping you build credit history with responsible use.
The trade-off is clear: secured cards provide credit building opportunities when other options aren't available, but come with fewer perks and additional costs compared to traditional credit cards.
What Can I Do to Increase My Chances of Being Instantly Approved?
Getting instantly approved for a new credit card feels great—no waiting, no additional documentation requests, just that sweet "Congratulations!" message.
Before You Hit "Apply"
Check the income requirements first. This is something many applicants overlook! Card issuers typically state their minimum income requirements right on the application page. If you're eyeing a premium rewards card that requires $80,000 annual income, but you're making $60,000, you're setting yourself up for disappointment. Match your application to cards that align with your current financial situation.
Pre-qualify when possible. Many institutions now offer pre-qualification tools that can tell you if you're likely to be approved without affecting your credit score. This "soft check" can save you from unnecessary hard inquiries.
Build Strong Financial Habits
Getting instant approval isn't just about what you do on application day—it's about your ongoing financial behaviour:
Pay your bills on time, every time. Payment history makes up approximately 35% of your credit score. Even one missed payment can linger on your report for years.
Keep your credit utilization low. Try to use less than 30% of your available credit. For example, if your limit is $5,000, aim to keep your balance under $1,500. This signals to lenders that you're not maxing out your available credit.
Maintain a healthy mix of credit. Having different types of credit (credit cards, loans, etc.) and managing them responsibly shows lenders you can handle various financial commitments.
Don't apply for multiple cards at once. Each application typically triggers a hard inquiry on your credit report. Too many in a short period can make you look financially desperate to lenders.