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 long 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.
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. Neo Mastercard
The Neo Financial Credit Card is the best cash back credit card in Canada.
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 Credit card
Rewards: Average of 5% cash back at 12,000+ partners.
Welcome offer: $25 welcome cash bonus.
Interest rates: 19.99% – 29.99% on purchases; 22.99% – 31.99% for cash advances.
Annual fee: $0 to $4.99 monthly
You can pair your Neo Card account with its savings product and earn 3.00% interest on your savings account balance.
Learn more about the Neo Mastercard credit cards.
2. Scotiabank Gold American Express Card
Easily qualify and get an 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 restaurants, food delivery, and grocery (up to 6x at some stores); 3x points/$1 in gas & travel; 1x points/$1 everything else.
Welcome offer: Get up to 40,000 points ($400 value).
Interest rates: 20.99% 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.
3. 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 10% cash back on up to $1,000 in spending in the first 2 months ($100 value); 1.95% balance transfer rate for 6 months.
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 Tangerine credit cards in this review.
4. Canadian Tire Triangle Mastercard
If you are a regular customer of 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.
5. KOHO Mastercard
KOHO Prepaid Mastercard
$40 welcome bonus after first purchase (use GETCASH promo code during sign-up)
$0 monthly fee*
Earn up to 5% unlimited cash back
Get up to 4% savings interest on your balance
Unlimited Interac e-Transfers and debit transactions
Free budgeting app and access to credit building
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 use instantly.
KOHO’s benefits include unlimited debit transactions and Interac e-Transfers, up to 5% cash back on purchases, and more.
KOHO also offers access to a credit building service for a fee.
6. 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 15,000 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.
7. 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 up to 2% cash back on gas and groceries; 1.25% cash back on all other purchases; travel accident insurance.
Welcome offer: NA
Interest rates: 20.99% 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.
8. 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.
9. 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: 0.99% introductory balance transfer rate for 9 months (2% fee applies).
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:
10. BMO Cash Back Mastercard: This card offers decent cash back earn rates and is easy to qualify for.
11. Brim Financial Mastercard: The Brim Mastercard is a no-fee cash back card. You can also opt for the premium World and World Elite.
12. Scotiabank Scene+ Visa Card: The Scene+ Visa is excellent for students and individuals with 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:
- Simplii Financial Cash Back Visa
- Neo Financial Mastercard
- Tangerine Money-Back Credit Card
- Scotiabank Scene+ Visa Card
- Neo Money card
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;
- PC Financial Mastercard
- Canadian Tire Triangle Mastercard
- Walmart Rewards Mastercard
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:
- Neo Secured Credit
- Capital One Guaranteed Mastercard
For Neo Financial and Capital One, you need to provide collateral (security deposit).
How Instant Approval Credit Cards Work
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.
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, where you can apply.
Related:
- Best Virtual Credit Cards
- Best No-Fee Credit Cards
- Best Cash Back Credit Cards
- Lowest Interest Rate Credit Cards
- What is KOHO?
FAQ
Many of the top banks and credit card companies in Canada offer instant approval, including RBC, BMO, Scotiabank, CIBC, American Express, and TD.
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+).
Most instant approval credit cards can still take 1-2 weeks to arrive in the mail. With KOHO, 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.
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
@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.