By : 
Mr Credit Card
Mr Credit Card
Most credit cards can be considered instant approval credit cards if you get approved instantly. And because of technology, you can know if you approved within 60 seconds if you apply for a credit card online. However, some of you may get the dreaded 7-10 wait message from issuers if they are unsure of approval you on the spot. The key to getting approved for a credit card immediately is to know their criteria before hand. This is especially true if you have bad credit and want to get approved instantly (or at least within the same day. Having certain documents on hand (like your drivers license and utility bills and even a W2) can also speed up the approval process if you need to go through a identity verification or income verfication process.
Best Instant Approval Credit Card for Bad Credit
Milestone Mastercard $700 Credit Limit Version
Ideal Cardholder - The Milestone Mastercard is ideal for rebuilders who have either been through bankruptcy or have been rebuilding with a couple of trade lines, and who want to get an unsecured credit card. The application process is very quick and easy with a very fast decision process.
Why We Like This Card - The Milestone credit card gives you a decent $700 credit limit and is known for their consistent credit bureau reporting month after month. They also have a mobile app, which makes managing your card and account pretty simple.
Requirements - Here are the requirements for approval of this card.
- Credit score of 570 to 650 area
- Minimum income of $30,000
- Not more than 2 inquiries during the last 6 months
- No late payments or delinquencies for at least 1 year
- Collections and charge offs should be settled
- Not more than $30,000 in total debt
Annual Fee: $175 for first year, then $49
Monthly Fee: $0 for first year, then $12.50 a month
Regular APR: 35.9%
Starting Credit Limit: $700
Read our review of the Milestone Mastercard
Destiny Mastercard $700 Credit Limit Version
Who Is this card for? - The Destiny Mastercard is ideal for rebuilders who either has been discharged from a recent bankruptcy and has a clean credit report or those who have been rebuilding for at least 6 months to a year and has a couple of tradelines under their belt.
Why We Like This Card -We like the Destiny Mastercard because it gives you a very decent $700 credit limit and reports very consistently to the three major credit bureaus. They also approve those who have just emerged and discharged from bankruptcy. Destiny provides a quick and easy application process with a typical decision in 60 seconds or less.
Requirements - Here are the requirements for approval of this card.
- Credit score of 570 to 650 area
- Not more than 2 inquiries during the last 6 months
- No late payments or delinquencies for at least 1 year
- Collections and charge offs should be settled
- Not more than $30,000 in total debt
Annual Fee: $175 for first year, then $49
Monthly Fee: $0 for first year, then $12.50 a month
Regular APR: 35.9%
Starting Credit Limit: $700
Fit Mastercard - $800 Credit Limit After 6 Months
Who Is This Card For? - The Fit Mastercard is for rebuilders looking for a quick approval in an unsecured credit card which offers a decent credit limit and has all the amenities of the modern credit card. Fit will also people who have just emerged and discharged from bankruptcy.
Why We Like This Card? - We like this card because it has modern features like mobile app, free credit scores and a track record of credit line increases. This is also one of the cards on our site with very good approval rates. The Fit Mastercard starts you off with a $400 credit limit but we like the fact that it will double to $800 only after 6 months if you pay on time. Fit has a fast and easy application process with results in seconds after you press the submit button.
Requirements - Here are the requirements for approval of this card.
- Credit score of 550 area
- Checking account required - you should have your a/c and routing number available when you apply
- Not more than 2 inquiries during the last 6 months
- No late payments or delinquencies for at least 1 year
- Collections and charge offs should be settled
Annual Fee - $75 for the first year, then $48 thereafter.
Monthly Maintenance Fee - $0 for the first year, then $6.25 a month (which is $75 annually)
One-time Application Fee - $89
Regular APR - 34.99%
Starting Credit Limit - $400 but doubles to $800 after you pay on time for the first 6 months.
First Digital Mastercard - Best for No Payment Holds
Who is First Digital Mastercard for? - The First Digital Mastercard is for rebuilders who would have to have no payments holds and also use their debit cards to pay for their credit card bills. This is one of the rare credit cards that has these two featues. They will also approve your application quickly if you mee their criteria.
Why we like this card/ - We like the First Digital credit card because it is one of the rare credit cards that allow you to pay via a debit card. Also, if you choose to pay your card through third party digital payments, your payments will be processed and clear immediately and be reflected in your credit limit. You will also know if you are approved immediately after you apply online.
Requirements - Here are the requirements for approval of this card.
- Credit score of 525 to 570
- Checking account required - you should have your a/c and routing number available when you apply
- Not more than 2 inquiries during the last 6 months
- No late payments or delinquencies for at least 1 year
- Collections and charge offs should be settled
- Not more than $20,000 in debt (excluding mortgage)
Annual Fee - $75 for the first year, then $48 thereafter.
Monthly Maintenance Fee - $0 for the first year, then $6.25 a month (which is $75 annually)
One-time Application Fee - $89
Regular APR - 34.99%
Opensky Plus Credit Card $0 Annual Fee
Who is this card for? - The Opensky Plus Secured Visa Credit Card is ideal for rebuilders who want to rebuild with a no annual fee secured credit card with a chance of graduating to an unsecured credit card. Cardholders may get a chance to graduate to the Opensky Gold Unsecured Visa in as little as 6 months. It will also appeal to those with a very low score (I am talking 400 credit score range) who do not want to experience a hard inquiry on their credit report which may result in a ding in their credit scores.
Requirements - No credit checks. Will definitely be approved though you do need to fund your security deposit before the card will be delivered to you. It takes just a couple of minutes to fill the online application forms and get approved immediately.
Why We Like This Card? - We like the Opensky Plus credit card for many reasons. Firstly, you get approved instantly after you submit your application as there is no hard inquiry at all. You simply have to then fund your security deposit to get the card mailed to you (you are given 60 days to do so). There is also no annual fee. You also have the chance to graduate to the Opensky Gold Unsecured Credit Card in as little as 6 months. There are no credit checks if you are graduated. You are also eligible to get a credit limit increase without the need for additional security deposit in as little as 6 months as well.
Opensky now have a mobile app which they launched in 2019 and they are gradually making improvements to it. This will make them more appealing as many subprime issuers do not even have a mobile app. You can also set up autopay (which is actually not available to many subprime credit cards).
Annual Fee - $0
Regular APR - 29.74%
Requirements - No credit checks. You will be approved but you need to fund your security deposit.
Credit Limit - $300 - $3,000
Keys to Getting Instantly Approved for ANY Credit Card (especially if you have bad credit)
- Minimum FICO scores - Though most credit cards do not explicitly state their mininum credit score requirements, we can infer them by who they are targeting the card to. For example, a subprime unsecured credit card like the Milestone Mastercard woud require a minimum credit score of at least 500 to get approved. In contrast, to get approved immediately for a great balance transfer deal would require credit scores of at least mid 700s
- Minimum Income Requirements - Not meeting minimum income levels can also stall your approval and sometimes require that you send in documents proving your income. Many subrime credit cards require a minimum income of at least $20,000 to $30,000. Prime issuers may have less stringent income requirements but may vary the credit limit you receive based on your income.
Obstables to Getting Instantly Approved
- Incorrect Address - Incorrectly filling in your address can result in delayed approval for your credit card. If you have changed your address but have not informed or updated the address in the major credit bureaus, this can also delay your approval. If the credit card issuer finds a discrepancy in this area, you may be required to upload a document like utilitiy bills for proof of address.
- Having Common Name or Name Change - Sometimes having a common name or a recent name change (which is not updated in public records) can also delay your credit card approval. In this case, the credit card issuers may require you to upload some form of indentification like passport or drivers license for identity verification.
- Proof of Income - On occasion, a credit card issuers may require you to upload some of of proof of income. This will most likely take the form of a W2. Once again, this may delay your credit card approval.
To prevent these issues from denying your instant approval or at least same-day approval, I suggest you have these documents on hand in the form of an image file or PDF handy when you apply for a credit card. So if you get a requent to upload these documents, you can do so immediately to speed up the approval process.