When you decide to get a credit card, you want the application process to be easy, convenient, and fast. Whether you want a credit card to start rebuilding your credit score or are eager to start earning rewards for your spending, the last thing you want is to play the waiting game after a long application process.

But now you don’t have to. There are many fantastic instant approval credit cards in Canada that will not only give you an answer within minutes, but with many, you can start spending immediately! Here is a list of the 14 best instant approval credit cards in Canada.

What is an instant approval credit card?

An instant approval credit card is any credit card that you receive approval for instantly when you apply. You’ll get your credit card immediately if you meet all the qualifications, such as income requirements and credit rating. For credit cards that sync to your mobile wallet, you’ll be able to start spending right away.

How to qualify for an instant approval credit card

Most instant approval credit cards in Canada require you to be a Canadian citizen, over the age of 18 and have a good credit score. That said, secured cards are available for those with bad credit and who want to improve their credit score.

You’ll also need to meet the minimum income requirements set by the credit card (if there are any) and may need to pass some additional checks depending on what financial institution you’re getting the credit card from. 

Instant approval credit cards for bad credit

Just because you have a bad credit score doesn’t mean that you can’t get an instant approval credit card. There are actually quite a few options of secured and prepaid credit options that anyone is eligible for. These credit cards are great for anyone looking to rebuild or repair a bad credit rating

Plastk Secured Visa

Plastk Secured Visa

Annual fee: $48

Monthly maintenance fee: $6

Interest rate: 17,99 %

Offer: 0% APR for 3 months + 5,000 BONUS REWARD POINTS
Apply Now

Plastk is a secured Canadian Visa card offering instant approval for those looking to build or strengthen their credit ratings. The card has a $48 annual fee plus a $6 monthly maintenance fee. The interest rate is relatively low at 17.99% purchase interest and a cash advance fee of 21.99%.

However, if you miss two payments, the interest rate will jump up. Plastk Secured Visa also has a 25-day no-interest grace period to pay your minimum payment, which is higher than others on our list.

You’ll also earn cash back on all your spending in the form of points, earning 1 point per $1 spent. 250 points equal $1, and you’ll need a minimum of 2,500 points to redeem. The card has a minimum security deposit of $300 and the amount you put up as a deposit is that amount you’ll have as your credit limit.

Your deposit is only used if you miss payments, so as long as you pay on time, you won’t lose any of it. This card is a great way to build your credit rating and earn cash back simultaneously.

KOHO Prepaid Mastercard

Get $20 with code HARDBACON
KOHO Mastercard® Prepaid Credit Card
  • KOHO is a full-service app and reloadable prepaid credit card with no hidden fees.
  • Get $20 when you sign up for a free KOHO account with code HARDBACON and make your first purchase*.
Get $20 Now! Read our review

KOHO is not technically a bank, but this Canadian Fintech company offers the KOHO Prepaid Mastercard, which is an excellent option for people with a poor credit rating who cannot get other credit cards. Plus, it’s rare to find a prepaid credit card in Canada that also offers cash back. There is no annual fee for the KOHO Prepaid Mastercard, and everyone is instantly approved.

You’ll have to preload the card, but you’ll get 0.5% cash back on all your purchases, with up to 5% cash back on all your purchases. You can also upgrade to the KOHO premium account, which will give you 2% cash back on your purchases and has an $84 annual fee.

You can add funds to your account via the KOHO app and cash out whenever you want in-app. KOHO also offers a credit building service, which is essentially a low monthly fee of $10, and as long as you always pay it off, it will automatically build your credit card score for you.

Capital One Guaranteed Approval Mastercard

Annual fee: $59
Interest rate: 19.8% on purchases and balance transfers
Cash advance interest rate: 20.9%
Security deposit: $75 to $300

The Capital One Guaranteed Approval Mastercard is perfect for those wanting to establish a better credit score. Not only is this an instant approval credit card, but you’re guaranteed approval as long as you’re age of majority, don’t have any existing applications for a Capital One account and haven’t had an account not in good standing in the last year.

You may have to pay security funds as collateral, between $75 to $300, depending on your credit rating. As long as you use the card to make everyday purchases, stay within your credit limit, and make the minimum monthly payments, you will start rebuilding your credit rating.

The card has a $59 annual fee, with 19.80% purchase interest and a 21.90% cash advance. The account also comes with purchase assurance, extended warranty, common carrier travel accident insurance, car rental collision/loss damage waiver, baggage delay assistance and more.  

Instant approval cash back credit cards

If you’re going to be making lots of purchases on your credit card anyway, you may as well make some money while you’re doing it! Cash back credit cards are a great way to earn cash on your purchases, which you can spend to pay off your balance or use for qualifying purchases. Here are some of the best cash back credit cards available for Canadians. 

Tangerine Money-Back Mastercard

Limited time offer of 10% cash back!
Tangerine Money-Back Credit Card | Tangerine

Annual fee: $0

Interest rate: 19.95% on purchases, balance transfers, and cash advances

Promotion: Get an extra 10% cash back on your first $1,000 in purchases in the first 2 months. Plus a 1.95% balance transfer rate for the first 6 months. Must apply by May 2nd, 2023. Conditions apply.

Tangerine is an online Canadian bank that has become increasingly popular among Canadians for its low fees. And the Tangerine Money-Back Credit Card is no exception.

With no annual fee and a low minimum income requirement ($12,000), this card is accessible to almost everyone. The card has a 19.95% purchase interest rate and the same for cash advances. There is also the incentive of a low 1.95% balance transfer rate for the first 6 months. You can also add free cards for any authorized users on your account.

For rewards, this cash-back Mastercard gives you 2% cash back in 2 spending categories of your choice. You can choose these strategically to cover the areas you spend the most in, such as groceries, gas, restaurants, hotels, recurring bills etc.

For any purchases that don’t fall within those categories, you’ll receive 0.5% cash back. Cash back is paid out monthly, and you can either redeem it into your Tangerine savings account or use it to pay your credit card balance.

If you choose to deposit them into your savings account, you can add an additional rewards category. Tangerine frequently offers great welcome bonuses, including 15% cash back when you spend $1,000 in the first two months of having the card.

American Express SimplyCash Preferred

4% cash back on gas and grocery*
SimplyCash® Preferred Card from American Express
  • Annual Interest Rate
  • 20.99% on purchases
  • 21.99% on funds advances*
  • Monthly Fee
  • $9.99 (Equals a total fee of $119.88 annually)
  • Extensive insurance coverage and 24/7 Customer Service
Offer: In your first 10 months as a new SimplyCash® Preferred Card from American Express Cardmember, you can earn a $40 statement credit for each monthly billing period in which you spend $750 in purchases on your Card. This could add up to $400 in statement credits in the first 10 months
Rewards: Earn 4% cash back on eligible gas station purchases in Canada, 4% cash back on eligible grocery store purchases in Canada (up to $1,200 cash back annually) and 2% cash back on all other purchases
Get this offer
*American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply

The American Express SimplyCash Preferred credit card is available to all Canadian residents with a Canadian credit file. If you qualify, you can receive instant approval for this credit card and have access to cash back and tons of other perks.

The American Express SimplyCash Preferred credit card has a monthly fee of $9.99, totalling $119.88 annually. Although this is higher than other cards on this list, you get some great benefits. The purchase interest rate is 19.99%, and 21.99% on cash advances. Plus, you can add additional cards for free.

You’ll earn 2% cash back on every purchase you make, with a welcome bonus of 10% cash back during your first 4 months. There is no cap on how much cash-back you can earn, so this card is perfect for big spenders! As part of your card benefits, you’ll get road trip and flight coverage, including out-of-country medical insurance, flight delay insurance, car rental theft and damage insurance and more.

Neo Financial Mastercard

Secured Credit Card
Neo Secured Mastercard
  • Annual fee : 0$
  • Interest Rate : Up to 24.99%

5% Average cashback - Earn an average of 5% unlimited cashback⁴ at thousands of Neo partners.

Promotion: 15% Welcome bonuses - Earn up to 15% cashback⁴ on your first purchase at participating partners.
Apply Now

Neo Financial is another online-only financial institution providing an instant approval credit card. Since online banks have less overhead, they can pass those savings on to their customers.

The Neo Financial Mastercard (or the Neo Card) has no annual fee and rewards you with an average of 5% cash back at their partner stores. Neo Card is both instant approval and guaranteed approval, with secured cards available to those with lower credit scores (as long as it’s above 600).

You’ll pay 19.99% to 24.99% purchase interest and 21.99% to 26.99% on cash advance, but only if you carry a balance over.

When you first get your card, you’ll have access to their welcome bonus, where you can earn 15% instant cash back on your first purchases.

Plus, as soon as you’re approved, you can start spending via the Neo Card on your mobile wallet. With their intuitive app, you can see all the opportunities to earn reward points in your local area, plus what percentage of cash back you’ll get at each. They currently have over 8,000 partners and growing, so you’ll have no problem finding ways to spend and earn in your area.

Simplii Financial Cash Back Visa

Annual fee: $0
Interest rate: 19.99% on purchases
Interest rate for cash advances and balance transfers: 22.99%
Not available in Quebec

Although not available in Quebec, the Simplii Financial Cash Back Visa gives instant approval to Canadians with a minimum household income of at least $15,000. As long as you qualify, you’ll receive instant approval and be able to spend right away by adding your card to your mobile wallet.

The card has a 19.99% purchase interest rate, 22.99% cash advance interest rate, and a 21-day interest-free grace period to pay your monthly statement. If you pay your balance in full by the due date, you’ll pay no interest on any of your purchases.

With the Simplii Financial Cash Back Visa, you’ll earn cash-back rewards on your spending. You’ll earn 4% cash back on eligible restaurant, bar, and coffee shop purchases.

For gas, groceries, drugstore purchases and pre-authorized payments, you’ll earn 1.5% cash back and 0.5% for everything else! This is calculated monthly and applied to your account at the end of the year.

You can also add up to 3 additional cards to your account, which you can give to whomever you choose, and earn rewards on their spending. With the credit card, you’ll also receive purchase security and double manufacturer’s warranty on certain purchases.

RBC Cash Back Mastercard

Unlimited cash back and up to 2% back on groceries
RBC Cash Back Mastercard - RBC Royal Bank

Annual fee: $0

Interest rate on purchases: 20.99%

Interest rate on cash advances: 22.99%

Promotion: Unlimited cash back and up to 2% back on groceries. Plus, you get up to 1% cash back on all other qualifying purchases and pre-authorized payments. Link your card and save 3¢/L on fuel at Petro-Canada and earn 20% more Petro-Points.Conditions apply.
We earn a commission if you make a purchase, at no additional cost to you.

The RBC Cash Back Mastercard is one of the best cash back credit cards for those with a fair credit rating. There is no income requirement, and anyone can apply as long as they are the age of majority in their province or territory.

The card has no annual fees, a 19.99% purchase interest rate and 22.99% for cash advances. You’ll receive 2% cash back on your grocery purchases and 1% on all other qualifying purchases and pre-authorized payments. Cash back is calculated monthly and then paid out annually, but you can request a payout of your funds at any time. 

Other benefits of the RBC Cash Back Mastercard include fuel savings at Petro-Canada (save 3¢ a litre, and earn 20% more Petro-Points when you link your card), and extra Be Well points at Rexall (when you link your Be Well account). Plus, you’ll get purchase security and extended warranty protection on your purchases. 

Instant approval rewards credit cards

If you find yourself frequenting specific stores over and over again, then it’s a good idea to see if they offer a credit card. You can earn huge rewards which add up to huge savings at your favourite stores with instant approval rewards credit cards. Here are the best options available to Canadians. 

Canadian Tire Triangle Mastercard

Annual fee: $0
Interest rate: 19.99%
Earn 4% back in Canadian Tire Money 

If you frequently find yourself shopping at Canadian Tire, then you’ll definitely want to take advantage of the perks of the Canadian Tire Triangle Mastercard. Instead of collecting stacks of Canadian Tire money, shoving them somewhere and forgetting about them, the Canadian Tire Triangle Mastercard allows you to collect Canadian Tire Money from everywhere you shop. There is no annual fee, 19.99% purchase interest and 22.99% on cash advances. The card has instant approval, and you can add it to your mobile wallet immediately to start spending and earning rewards. 

There is no minimum income requirement or minimum credit score to apply.

Beyond the standard 0.5% Canadian Tire Money you’ll receive at all stores, you’ll also get 4% back at partner stores like Canadian Tire, Mark’s Work Warehouse, Sport Chek and Party City. Plus, you collect 5¢ back per litre at Gas+ and Essence+ gas stations and 1.5% at select grocery stores. 

PC Financial Mastercard

The PC Financial Mastercard is a fantastic option for families or those who spend a lot of time on the road. Why? Because there is huge potential to earn rewards points at grocery stores, Shoppers Drug Mart and gas stations.

With no minimum income for their lowest tier and reasonable credit score requirements, this credit card is accessible to most people. There is no annual fee, a 20.97% purchase interest rate and a 22.97% cash advance rate (21.97% in Quebec). They also offer a 21-day interest-free grace period on new purchases.

You’ll earn 10 PC Optimum points per every $1 you spend at most merchants, with bonuses for PC partners. When you shop at Shoppers Drug Mart, you’ll receive 25 points per $1 and 30 points at Esso of Mobil. When you purchase travel at PC Travel, you’ll get 20 points per $1. Once you reach 10,000 points, you can start redeeming them, with 10,000 points equalling $10 worth of free products.

American Express Cobalt Card

Get up to 30,000 Membership Rewards points*
American Express Cobalt Card - Amex
  • Annual fee: $155.88
  • Interest rate on purchase: 20.99%
  • Interest rate on cash advances: 21.99%
Rewards & Perks:
  • 🍴 5x points on eats & drinks
  • 💻 3x points on streaming services
  • ✈️ 2x points on travel & transit
  • 💳 1x points on everything else
Offer: Up to 30,000 Membership Rewards points (average value of $300)
Get this offer
*Conditions Apply

The American Express Cobalt Card is another instant approval credit card from American Express, but this one is slightly different. Instead of cash-back, the Cobalt Card allows you to collect membership rewards points you can redeem for eligible purchases.

It’s an easy card to get as there is no minimum income requirement, and you only need a fair credit card rate. As long as you’re a Canadian resident, have a Canadian credit file and are the age of majority, you’ll likely get approval. This card’s annual fee is high, at $155.88, but it’s spread out across 12 monthly payments of $12.99. The car has a 20.99% purchase interest rate and 21.99% for cash advances.

Membership reward points are valued at $10 per 1000 points. You’ll earn 5 points per $1 on food and drink, 3 points on eligible Canadian streaming subscriptions, 2 on travel and transit, and 1 on everything else.

You’ll need a minimum of 100 points to redeem them towards purchases. There are some great signup bonuses, such as the potential to earn up to 30,000 membership rewards points during your first year.

Scotiabank Gold American Express Card

40 000 bonus points
Scotiabank Gold American Express Card - Scotiabank Canada
  • Annual fee: $120
  • Interest rate on purchase: 20.99%
  • Interest rate on cash advances: 22.99%
Offer: Earn up to $650* in value in the first 12 months, including up to 40,000 bonus Scene+ points and first year annual fee waived. Offer ends October 31, 2023.
Rewards & Perks:
  • 6 Scene+ points per dollar at partipating grocery stores
  • 5 Scene+ points per dollar on food and entertainment
  • 3 Scene+ points per dollar on gas, transit and streaming services
Apply Now
*Conditions Apply

The Scotiabank Gold American Express Card may have a higher annual fee than others on our list, but it makes up for it in perks, especially if you’re a frequent traveller. This card is easy to qualify for and great for Canadians wanting to build their credit history while still earning reward points.

Scene+ points can be put towards grocery, travel, entertainment, dining and more. The annual fee for this credit card is $120, but they often waive the first-year fee as part of their welcome bonus. The purchase interest rate is 20.99%, and 22.99% on cash advances. You can also add supplementary cards for an additional $29 per year.

Some of the great features of this card include purchase security, extended warranties and airport lounge access with a Priority Pass membership. You can all book and redeem any flight through Scene+ Travel, their travel agency.

You can earn 6 points for every $1 spent at Scene+ participating grocers and 5 points for other eligible grocery stores, dining, food delivery, movie tickets and other eligible entertainment purchases. You’ll also earn 3 points per $1 on gas and transit purchases and eligible streaming services. For everything else, you’ll get 1 point per $1.

Walmart Rewards Mastercard

Annual fee: $0
Interest rate: 19.89%
Cash advance interest rate: 22.97%
Reward rate: $1 spent gets $1 you can redeem

Nowadays, you can get just about anything at Walmart. And if you’re a frequent Walmart shopper, you’ll get tons of benefits with the Walmart Rewards Mastercard. This instant approval credit card has no annual fee and offers a 21-day interest-free grace period (except for cash advances and balance transfers), giving you extra time to pay your minimum payment.

It’s available to people with fair credit or better, so you don’t need perfect credit to apply. The card has a 19.89% purchase rate and 22.97% cash advance, but you’ll also receive a charge of $4 for withdrawing cash from an automated teller machine (ATM) or teller in Canada.

If you plan on spending on your card internationally, you’ll pay a 2.5% foreign currency conversion markup, so this card is best for Canadians who plan to spend in Canada.

Now that we got the fees out of the way, here’s the good stuff. You’ll earn rewards points on all your spending, which you can spend on any products from Walmart.

To make it easy, you’ll get $1 for every $1 Walmart Rewards Dollar you collect. For spending at Walmart stores in Canada or Walmart.ca, you’ll earn 1.25% back in rewards dollars. Everywhere else, you’ll earn 1% back. If you’re consistently spending around $800 a month on your Walmart Rewards Mastercard, that could add up to over $100 a year in free Walmart merchandise.

Instant approval low-interest credit cards

Unless you’re able to pay off the entirety of your credit card balance every single month, then you’re going to have to pay credit card interest. But there’s no point in paying more interest than you need to! Here are the best low-interest credit cards for Canadians that also offer instant approval. 

BMO Preferred Rate Mastercard

Get 0.99% interest rate on balance transfers for 9 months!
BMO Preferred Rate Mastercard®*

Annual fee: $29

Interest rate: 13.99% on purchases

Interest rate on balance transfers: 15.99%

Promotion: Get a 0.99% introductory interest rate on balance transfers for 9 months! Conditions apply.
*Conditions apply. BMO Preferred Rate Mastercard® applications must be received on or after June 1, 2022 to be eligible for welcome bonus offer and between June 1, 2022 and July 31, 2023 to be eligible for the annual fee waiver offer.

BMO is one of Canada’s most trusted banks, and the BMO Preferred Rate Mastercard is incredibly popular among Canadians as it has one of the lowest interest rates available for a credit card. If you don’t typically carry a balance each month, this may not be an issue for you, but for most credit card holders, a lower interest rate is a game-changer. This instant approval credit card has a low annual fee of $29, with a 13.99% purchase interest rate and 15.99% for cash advances. They also offer an introductory rate on balance transfers of only 0.99% for the first 9 months (plus a 2% transfer fee).

This credit card may not have any rewards, but you get a few added perks. You can add additional cardholders free of charge, plus enjoy extended warranty and purchase protection. You also receive protection from fraud with zero liability insurance, plus Mastercard identity checks to protect your online purchases. It’s easy to qualify for this card as long as you’re a Canadian citizen or permanent resident and you’ve reached the age of majority in your province. You must also not have declared bankruptcy in the last 7 years.

Frequently asked questions about instant approval credit cards

What are instant approval credit cards?

Instant approval credit cards are credit cards that receive instant approval as long as you meet the qualification requirements—no lengthy application processes or waiting times.

Does MBNA give instant approval?

MBNA does not offer instant approval credit cards. It will usually take around 30 days to receive a credit decision from the day you apply.

Is the Walmart credit card an instant approval credit card?

Yes. The Walmart credit card is an instant approval credit card as long as you meet the credit requirements.

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