13 Best Instant Approval Credit Cards in Canada for 2022

Looking for credit cards with instant approval in Canada? Below is a list of credit cards you can apply for online or at a retail store and get approved within minutes.

Getting a new credit card can involve a lengthy process, the completion of several forms, and a lengthy wait to find out whether your application has been approved or not.

If you are impatient and would rather know immediately whether your credit card application is successful, an instant approval credit card is a great choice.

What is an Instant Approval Credit Card?

Instant approval credit cards are credit cards you can apply for and receive confirmation that you have been approved within minutes.

Typically, you submit an application online on the issuers’ website after answering standard questions regarding your identity, address, etc. And they almost instantly tell you whether your application is approved.

Alternatively, if it’s a retail store instant approval credit card, you could also apply for it in person while shopping at the store.

After approval, your physical credit card is mailed to you and may take a week or longer.

In some cases, you may be able to start making purchases with the virtual card version of the credit card while awaiting the physical card.

Note that an instant approval credit card does not mean you are guaranteed to be approved… you need to meet the bank’s eligibility requirements.

Here are some examples of guaranteed approval credit cards.

13 Best Instant Approval Credit Cards in Canada

Best Instant Approval Credit Cards in Canada

The majority of Canadian credit cards with instant approval require you to have a decent credit score.

If your credit score is in the excellent category, most credit applications are a breeze. That said, you could still easily qualify for a credit card even if you have bad credit.

Below, I cover the top unsecured instant approval credit cards as well as:

  • Instant approval credit cards for students
  • Instant approval prepaid credit cards
  • Secured instant approval credit cards, and more

1. Tangerine Money-Back Credit Card

The Tangerine Money-Back Credit Card is one of the easiest credit cards you can get in Canada.

This card only requires a credit score of 600 and you could be instantly approved if you also meet the minimum income requirement of $12,000 or more.

Tangerine Money-Back Credit Card

Rewards: Earn up to 2% unlimited cash back in up to 3 spending categories and 0.50% on all other purchases.

Welcome offer: Get an extra 15% cash back on up to $1,000 in spending in the first 2 months ($150 value).

Interest rates: 19.95% for purchases, balance transfers, and cash advances.

Annual fee: $0

This card also offers purchase security and extended warranty insurance coverage. If your annual income is $60,000 or higher, you can also opt for the Tangerine World Mastercard.

This no-fee card offers similar cashback earn rates plus perks like:

  • Rental car insurance
  • Mobile device insurance
  • Free Boingo Wi-Fi
  • Complimentary membership with Mastercard Airport Experiences provided by LougeKey

Learn more about the Tangerine credit cards in this review.

2. Neo Mastercard

The Neo Financial Credit Card comes in three options: Standard, Plus, and Ultra.

The regular Neo Mastercard does not have an annual fee and you can qualify for it with a low credit score (600+). It also offers instant approval if you meet the basic eligibility requirements.

Neo Mastercard (Standard)

Rewards: Average of 5% cash back at partners and a minimum of 1% cash back across all purchases

Welcome offer: Get 15% cash back on your first purchases; plus a $25 welcome cash bonus.

Interest rates: 19.99% – 24.99% on purchases; 21.99% – 26.99% for cash advances.

Annual fee: $0

You can pair your Neo Card account with its savings product and earn 1.30% interest on your savings account balance.

Learn more about the Neo Mastercard credit cards.

3. Canadian Tire Triangle Mastercard

If you are a regular customer at Canadian Tire and its affiliated stores (Mark’s, Sport Chek, etc.), the Triangle Mastercard may be worth your time.

You can qualify for the card by applying online or directly at a Canadian Tire store location.

If approved, you can even make a purchase using your card instantly.

Canadian Tire Triangle Mastercard

Rewards: Collect 1.5% back in CT Money on grocery purchases; 4% on purchases at Canadian Tire (and affiliated stores); and more. Welcome offer: N/A

Interest rates: 19.99% on purchases and 22.99% on cash advances.

Annual fee: $0

This card also offers 5 cents per litre of gas purchased at Gas+ and participating Husky stations.

Note that the 1.5% cash back for groceries excludes purchases at Costco and Walmart.

If you have an income of at least $80,000, you can also apply for the premium version of the card- Triangle World Elite Mastercard.

4. American Express Cobalt Card

The American Express Cobalt Card offers instant approval if you have a good credit score. This is a premium card that sets you back $12.99 per month. That said, it also comes with several perks.

American Express Cobalt Card

Rewards: Earn 5x pts per $1 spent on food & drinks; 3x pts on streaming subscriptions; 2x pts on travel; 1x pts everywhere else.

Welcome offer: Get up to 30,000 bonus points in the first year.

Interest rates: 20.99% on purchases and 21.99% on cash advances.

Annual fee: $155.88

The Amex Cobalt also provides comprehensive travel insurance benefits, mobile device insurance, purchase protection, extended warranty benefits, and more.

Learn more in this review.

5. KOHO Prepaid Mastercard

KOHO Prepaid Mastercard (formerly KOHO Visa)

Rewards: Earn 0.50% cash back on all purchases; Up to 5% cashback at select partners; Earn 1.20% savings interest on your balance*.

Welcome offer: Get a $20 bonus when you load and make your first purchase (use promo code CASHBACK during sign-up).

Interest rates: 0%

Annual fee: $0

The KOHO Mastercard is an instant approval prepaid credit card. You can qualify for this card even if you have bad credit and following approval, a virtual card is available in-app for you to begin using instantly.

While this is a prepaid card, you can use it to build or rebuild your credit score by subscribing to KOHO’s credit building service.

Other benefits of the KOHO Card include access to early payroll (when you set up direct deposits), unlimited debit transactions and Interac e-Transfers, budgeting tools, and more.

There’s an option to upgrade to KOHO Premium for even more perks(costs $9/month or $84/year).

6. SimplyCash Card from American Express

The SimplyCash Card from American Express is a top-tier flat-rate cash back card. Like the other AMEX cards on this list, you can get instant approval.

SimplyCash Card from American Express

Rewards and benefits: Earn 1.25% cash back on all purchases; travel accident insurance.

Welcome offer: 4% cash back in your first 6 months (valued at $250).

Interest rates: 19.99% on purchases and 21.99% on cash advances.

Annual fee: $0

In addition to cash back, the SimplyCash AMEX also offers travel accident insurance coverage.

You can increase your cash back earnings and also get comprehensive travel insurance if you apply for the SimplyCash Preferred Card from AMEX.

This higher-level card has a $99 annual price tag.

7. Scotiabank Gold American Express Card

Easily qualify and get instant approval for the Scotiabank Gold American Express Card with an average credit score.

This Scotiabank card is packed with premium features and benefits at a comparable low annual fee.

Scotiabank Gold American Express

Rewards: Earn 5x Scene+ points/$1 on grocery, restaurants, food delivery; 3x points/$1 in gas & travel; 1x points/$1 everything else.

Welcome offer: Get up to 40,000 points ($400 value).

Interest rates: 19.99% on purchases; 22.99% on cash advances.

Annual fee: $120

This card is one of only a few credit cards that waive foreign transaction fees in Canada. It also provides:

  • Comprehensive travel insurance benefits
  • Complimentary Priority Pass membership
  • Purchase security and extended warranty.

8. Plastk Secured Credit Card

For a secured instant approval credit card, you can try the Plastk Secured Credit card. It combines credit building with access to rewards when you spend.

Plastk Secured Credit Card

Rewards: Earn points you can redeem for cash.

Welcome offer: 5,000 bonus points and 0% APR for 3 months.

Interest rates: 17.99% on purchases; 21.99 on cash advances.

Annual fee: $48, plus a $6 monthly maintenance fee.

This card has a 25-day grace period with no interest.

The minimum security deposit is $300 and you can qualify for a credit limit of up to $10,000. Learn more in this review.

9. PC Financial Mastercard

Loblaw’s President’s Choice Bank offers one of the best instant approval credit cards by a retail store in Canada.

The PC Financial Mastercard offers PC Optimum points you can redeem for free groceries, gas, and more.

PC Financial Mastercard

Rewards: 25 points/$1 at Shoppers Drug Mart, 10 points/$1 at Loblaw-banner grocery stores; 30 points/litre of gas at Esso/Mobil, etc.

Welcome offer: N/A.

Interest rates: 20.97% on purchases; 22.97% on cash advances.

Annual fee: $0

You can also pair this card with a PC Money Account for even more PC Optimum points.

If your personal annual income is up to $80,000, you could also qualify for the premiums PC cards and enjoy more rewards.

10. BMO Preferred Rate Mastercard

The BMO Preferred Rate Mastercard can help you save on interest fees if you regularly carry a credit card balance.

Compared to the typical 19.99% rate on purchases, this card has a low 12.99% rate.

BMO Preferred Rate Mastercard

Rewards: N/A

Welcome offer: 3.99% introductory balance transfer rate for 9 months (1% fee applies); $20 annual fee is waived in first year.

Interest rates: 12.99% on purchases and 15.99% on cash advances.

Annual fee: $20

It also offers purchase protection and extended warranty coverage. Learn more in this review.

Three other instant approval credit cards worth checking out include:

11. BMO Cash Back Mastercard: This card offers decent cash back earn rates and is easy to qualify for.

12. Brim Financial Mastercard: The Brim Mastercard is a no-fee cash back card. You can also opt for the premium World and World Elite.

13. Scotiabank SCENE Visa Card: The SCENE Visa is great for students and individuals who have a limited credit history or score.

Best Instant Approval Credit Card for Students

Even if you are a student, you can easily qualify for a credit card with low income and credit score requirements.

Top student credit cards with instant approval include:

Retail Credit Cards with Instant Approval

Store credit cards are generally easier to qualify for. They can also save you on hefty annual fees.

The top retail cards offering instant approval include;

Instant Approval Cards for Bad Credit

If you are finding it difficult to qualify for a credit card because of a bad credit rating, these cards may be approved:

  • Plastk Secured Credit Card
  • KOHO Prepaid Mastercard
  • STACK Prepaid Mastercard
  • Capital One Guaranteed Mastercard

For Plastk and Capital One, you need to provide collateral (security deposit). Both KOHO and STACK are prepaid cards.

How To Get an Instant Approval Credit Card

Instant approval credit cards are only approved when you meet the eligibility requirements set by the issuer.

In general, you should (be):

  • A Canadian citizen or permanent resident
  • At least 18 years of age or the age of the majority in your province
  • Have a good credit score (check for free here)
  • Not have recently declared bankruptcy
  • Meet any minimum income requirements (if applicable)
  • Pass any other checks conducted by the bank/financial institution.
  • After checking the requirements of each issuer, simply click on the links to be re-directed to their website when you can submit an application.



Which banks offer instant approval credit cards in Canada?

Many of the top banks and credit card companies in Canada offer instant approval, including RBC, BMO, Scotiabank, CIBC, American Express, and TD.

What is the easiest instant credit card to get?

It will depend on your credit score and whether you meet the basic eligibility requirements for the card. The Tangerine Money-Back Credit Card has a low barrier and is one of the easiest cards to get. You can qualify with a low credit score (600+).

What banks give you an instant card?

Most instant approval credit cards can still take 1-2 weeks to arrive in the mail. With the KOHO Prepaid Visa, you get access to a virtual card soon after your application is approved. You can use this card to make payments and add it to Apple Pay or Google Pay while waiting for the physical card to arrive.

13 Best Instant Approval Credit Cards in Canada for 2022

Best Credit Offers in August 2022

Earn up to 15% cash back for a limited time ($150 bonus)

One of the best no-fee credit cards in Canada.

Get 2% unlimited cash back on up to 3 purchase categories.

Get 0.5% unlimited cash back on all other purchases.

Get 15% bonus cash back in first 2 months ($150 value).

1.95% balance transfer offer for 6 months.

Get up to 5% cashback and grow your savings ($20 bonus)

Free prepaid reloadable Mastercard (use referral code CASHBACK during signup for $20 free).

Free budgeting app with automatic savings features.

Access to a portion of your paycheque 3 days early.

1.20% savings interest on every dollar balance.*

Compare the best personal loan rates in Canada

Get the best rates from multiple lenders.

Borrow up to $50,000 regardless of your credit score.

Pre-approvals are available in as fast as 5 minutes.

Low-interest rates start at 1.99% and terms from 4-60 months.

The NeoCard pays up to 5% cash back at select retailers

Get a $25 bonus when you apply for the Card.

Up to 5% cash back at participating stores.

No annual account fees and 1% minimum cash back guaranteed.

Guaranteed instant approval credit card.

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

2 thoughts on “13 Best Instant Approval Credit Cards in Canada for 2022”

  1. Greetings

    Nice article with rich content.

    What would you recommend for teenagers to start building their credit. I recently added my teen daughter as an authorized user on my credit card. I was informed that this will not build any credit history for her.

    Thank you

    • @BD: I think what you have done is a good start. She can learn about some of the good habits required to maintain or keep a good score in the meantime. Then when she is able to apply for a credit card on her own, it will be easy peasy. I have come across various opinions on whether one can build credit while added as an authorized user to a credit card. Unfortunately, I am not 100% sure which is right, but I think the info you have is closer to the truth.

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Best No Annual Fee Cash Back Credit Card
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