Credit card applications are not easy, even if they are online. Usually you will have to spend 10-20 minutes filling out a 5 page application. To compound this you are definitely not guaranteed to actually be accepted for the card so there is a decent chance that all of your efforts will be made in vain. Thankfully instant approval credit cards have become more and more popular over the years, especially for those of you with bad credit scores. If your credit score is less than 650 you should think about applying for the following instant approval credit cards:
Blue Cash from American Express
Blue Cash from American Express has the best terms and rates I have ever seen from an instant approval credit card. This card is geared more towards people with average credit or better, so if you have bad credit your only chance is to get someone with a good credit score to co-sign the application with you. You get 12 months of interest free purchases with the card if you are accepted, after that you will be looking at a variable interest rate that ranges between 17-21 percent. There is no annual fee and there are plenty of cash back and reward options available by making normal, run of the mill purchases. If your credit score is good enough to qualify for this card you should definitely fill out an application you will not regret it!
Orchard Classic MasterCard
This is an excellent instant approval credit card for those of you with bad credit. They accept most applications from people with poor credit and you should know whether you are accepted within minutes of filing your application. What I love about this card is that it reports to all three credit bureaus each month which gives you an excellent opportunity to raise your credit score. As long as you stay on top of your balance and pay off all your purchases as soon as you possibly can your credit score should rise each and every month you own the card! The application is fairly simple to complete although it will likely take you twenty minutes. You can expect to pay around 20% APR but it is variable so if you show Orchard your good credit habits you may be able to get a better rate. If you have a bad credit score this card is perfect for you, make sure you keep your monthly balances low to avoid paying a lot in interest however.
Green Dot Prepaid MasterCard
If you are looking for an instant approval prepaid card, Green Dot Prepaid Mastercard is perfect. Prepaid cards are basically like debit cards. You will pay nothing in terms of interest on the card and you will pay no monthly fees as long as you make at least 30 purchases a month, or a purchase a day on average. It is free to activate your card and there is no credit check whatsoever!
The three cards listed above are all completely different, card number one is perfect if you have good credit, card number two is great if you have poor credit and card number three is nice if you are looking to use a prepaid card instead of a traditional credit card. It all comes down to what you are looking for personally and your own situation. If you have poor credit do not become discouraged, it is easy to qualify for a card like #2 that reports to all three credit bureaus. As long as you take real steps towards becoming more responsible financially your credit score will rise consistently. Even a 20-30 point jump is huge, it can mean the difference between qualifying for a mortgage and getting denied or getting a much better rate on your auto loan.