Instant Approval Credit Cards With No Credit Check in Canada: How to Get One?

Instant Approval Credit Cards

Instant approval credit cards with no credit check in Canada is something an increasing number of people are trying to negotiate. This is because those 3 digits on your credit score can have a remarkable impact on your life, in terms of both quality and access to possibility. You need a strong credit score for almost anything. Getting a loan? Credit check. Need a cell phone plan? Credit check. Even landlords ask to see your credit history before they decide to let you take up renting one of their properties.

With credit scores playing such a significant role in your access to material opportunity, it’s no surprise that those individuals who may not have a strong score gravitate towards instant approval credit cards with no credit check in Canada. Now bear in mind, while there is no such thing as easy credit cards to get, there are certain avenues people with low scores can rely on. One of which is instant approval credit cards for bad credit.

Instant Approval Credit Card: What is it?

So, what exactly are instant approval credit cards and what can instant approval credit cards do for bad credit?

Instant approval credit cards are a handy way to remove the uncertainty out of the application process. Instant approval is self-explanatory: when you apply for a credit card you will receive a quick answer concerning if you have or have not been accepted. Applications are usually online and take around 10 minutes to complete, assuming you have the correct information on hand. Once your application has been approved, you should receive your card in the mail within 5 to 10 business days. This means you can be spending on your new card and reaping the rewards within a week or two.

How Do Instant Approval Credit Cards Work?

Once you request an instant approval card online, the lending institution will begin an introductory credit check. Commonly, although this is not always the case, the stronger your score is, the greater the chance you will receive approval on your card.

If you apply for a credit card and the institution gets the score and then grants your request, they typically release “conditional approval” as they undergo a more exhaustive inspection on your history. The creditors usually ascertain your credit worth by exploring your financial history that includes the previous usage on your credit card. They will also ensure you meet their requirements related to age and residency. This just shows that instant approval does not always mean you receive a credit card.

Applying for an Instant Approval Credit Card

When you apply for credit cards or more specifically, instant approval credit cards, you should know what you’re getting into beforehand. This is why you need to carefully consider what your options are, the eligibility requirements, what the necessary documentation you need is and finally actually applying. Below, we will go through each one of these in detail.

What Are Your Options?

When applying for a credit card, guaranteed approval doesn’t exist. However, you can make knowledgeable choices and go over the many credit card offers before you apply. Consider your options. There are a lot of banks and institutions out there that promote various deals and services when it comes to instant approval credit cards. Keep in mind however that generally, credit cards require a great credit score to get approved.

Eligibility Requirements

What can you do to understand eligibility requirements and what can you do to meet them when you apply for a credit card?

Lending institutions lay out their eligibility criteria clearly. On any particular card, you will have to meet the income benchmarks, have a past credit history void of bankruptcy, meet the age restrictions and hold Residency. Ensure you carefully understand and scrutinize the criteria before you request a card because applying for multiple cards at a time can adversely impact your history. If hesitant or uncertain about the requirements, you could always get in touch with the lending institution and figure out what your chances are of being accepted are. The more times you apply the worse it will affect your credit score. So this is a very important step. Following the same thought, remember, there are no easy credit cards to get and if you get rejected do not reapply right away.

Gather the Necessary Documentation

Along with meeting the eligibility requirements, you will have to give various information when you apply for a credit card, which might contain: 

  • Your full name, date of birth and details from your Canadian driver’s license or government-issued ID
  • Your Canadian address, phone number, and email
  • Employment Information: company name, address, and number.
  • Details of personal expenses: income, expenditure and a paycheck or bank statement for reference

Apply Online

Once you have everything you need ready to go (ensuring you’ve met the eligibility requirements and have the necessary documentation) the only thing left is to actually apply. The application process doesn’t take long and as has already been mentioned – and it becomes apparent given the name – instant approval credit cards get approved instantly.  It takes a few business days to get to you so this is a quick option to get a new credit card given that you pass the background check.

Instant Approval No Credit Check Card Providers

There is a way to get credit cards for no credit. There are providers out there who offer instant approval credit cards with no credit checks in Canada. Below, we will go over the best, most reputable companies that provide instant approval credit cards with no credit checks in Canada and will go over the advantages of each.

Marriott Bonvoy American Express Card

The Marriott Bonvoy American Express Card is a great option for people looking for instant approval credit cards for bad credit. The initial reward is earning 60,000 Marriott Bonvoy points. The annual fee is $120 and the interest rate annually is 19.99%.  Other rewards include complementary Silver Elite status and the ability to earn points by referring a friend.

SimplyCash Preferred Card from American Express

Another great option for instant approval credit cards with no credit checks in Canada, the SimplyCash Preferred Card has an annual fee of $99 with annual interest rates of $19.99%. The benefits? Earn 5% cash back in your first 6 months, refer a friend and you could earn a bonus of $150 cash back, American Express Invites including Front Of The Line opens the door to great music, theatre, dining, film and shopping, and you can save money whentraveling with complimentary Car Rental Theft and Damage Insurance.

Refresh Financial

Refresh Financial don’t just help you get a credit card, they help you build a better financial reputation. And so, when it comes to instant approval credit cards with no credit checks in Canada, Refresh Financial go above and beyond. They offer a variety of different programs each with a different goal in mind while helping you build your credit. Refresh Financial is a customer-oriented institution so you know you are in safe, knowledgeable hands.

Home Trust Secured No Fee Visa

Home Trust, much like Refresh Financial is here to help you navigate the challenging world of credit scores and checks. When you apply for a credit card, Home Trust presents you with a host of options each with its own benefit. There three Visa Cards: Equityline, Preferred and Secured are there for virtually everyone to take advantage of and at lower interest rates than many other institutions.

Capital One® Low Rate Guaranteed Mastercard®

Capital One’s programs let you choose from a variety of cards and services that suit your needs, get rewards for them and build or rebuild your credit. When it comes to instant approval credit cards with no credit checks in Canada, there is hardly a more trusted name than Capital One. From no annual fee to cash rewards and frequent flier miles, Capital One has something for everyone.

Final Word

While credit does rule much of life and your access to certain advantages, there are ways around it. There are ways to get instant approval credit cards with no credit checks in Canada. Instant approval credit cards for bad credit should be used responsibly however because more often than not, they come with higher rates of interest. It can be a vicious cycle if you start paying your debt back late because more and more will accumulate. The companies on our list were included not only because they offer instant approval credit cards for bad credit but because they also help you build your credit from scratch.

Keep in mind however that there is no such thing as easy credit cards to get and even when you do get credit cards for no credit, odds are you will have to pay the interest back diligently and punctually otherwise you could find yourself in the same situation that you started in.

By Loans Geeks Editor

Loans Geeks is an independent financial-service network dedicated to helping loan seekers secure loans at the most competitive rates.

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