Your credit score is essential before you apply for an instant approval credit line. A credit score of 750 or higher will get you approved for almost any card. A credit score lower than 620 could lead to higher interest and a lower credit limit. Secured credit cards are for people with low credit scores. They require collateral to be able to obtain the card. This could include a house, car, or any other asset. In the event that you default on your payments, this collateral can be forfeited.
WalletHub's Editors Picks for the Best Instant Approval Credit Cards
WalletHub editors sifted through over 1,000 credit card offers to determine the best instant approval credit lines for good credit. They reviewed the terms and conditions, along with other factors like annual fees, rewards programs, or approval requirements. To make it easier to choose, they have grouped the cards into categories.
Capital One Quicksilver Cash Rewards Credit card is for you if you have excellent credit. This card doesn't have an annual fee. However, it does require a refundable security deposits that will reduce the spending limit. The card does not require a security deposit and offers excellent rewards. It can be approved instantly online.
People with bad credit can also get instant approval credit card cards. These cards have a prequalification tool which will help you to determine your chances at approval. Once you are approved, you will get an instant card number. This approval process is not a science. Each issuer has its own policies.
Comenity Bank
Comenity Bank offers many types of credit cards. Comenity Bank focuses mainly on store credit card, but they also offer certificates for deposit and high-yield saving accounts. Comenity Bank is a great choice if you want to improve credit. Many cards from Comenity Bank have low credit requirements, and they are linked to rewards programs through various retail partners.
Comenity Bank allows you to apply online for approval instantly. You can do this by navigating to their website and clicking on the card offer. You can apply for a card by doing this without needing to provide your Social Security number. This method will also not result in a hard pull on your credit report. But, once you have been approved, your credit report will reflect the account.
Whether you have excellent credit or bad credit, Comenity Bank offers a card that will meet your needs. It is easy to find the right card for you because Comenity Bank has partnered with over 135 retailers.
SoFi
If you have strong credit and are interested to obtain a SoFi debit card, you've reached the right place. The credit card can be used at many merchants without requiring pre-qualification. However, your credit score may play a role in whether you qualify. If you have a low credit score, it is possible to apply. However, having a higher score could increase your chances of being approved.
The SoFi credit card also allows you to earn points on your purchases. Each dollar you spend on purchases earns you two points. However, these points are forfeited if you cancel your account or break the terms. Fortunately, you can get a reduced APR after 12 months if you meet all your minimum payments.
Another advantage of the SoFi Credit Card is that you have the option to cash out your rewards. Your rewards can be used for many purposes including budgeting, investing and travel. You can also redeem rewards for SoFi Savings and Checking accounts.