Instant Approval Credit Cards

Compare credit cards with instant approval, typically within 60 seconds of application submission.

By   |   Updated 10 Apr 2024

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Comparing instant approval credit cards

American Express Qantas Ultimate Credit Card

On website

FeaturedApply by 28 May 2024

American Express Qantas Ultimate Credit Card

Highlights

  • Acquire 60,000 bonus Qantas Points by applying before 28 May 2024, getting approved, and spending $3,000 on eligible purchases within the first 3 months. T&Cs apply. Exclusive to New Card Members.
  • Receive 2 complimentary Qantas Club lounge invitations annually.
  • Access a $450 Qantas Travel Credit each year (conditions apply).

Pros

  • Earn 60,000 bonus Qantas Points when you meet the criteria.
  • Excellent earn rates on everyday spending. Earns points on payments to the ATO.
  • Access to The Centurion® Lounge. after your first card spend on the card for Qantas products and services each anniversary year.
  • 2 complimentary Qantas Club lounge invitations each year.
  • Add cards for up to four family and friends at no cost.

Cons

  • The annual fee of $450.
  • There is no concierge service, even though it's a high end card.
  • Balance transfers are not possible.
  • Transactions in a foreign currency attract a fee.
American Express Platinum Edge Credit Card

On website

American Express Platinum Edge Credit Card

Highlights

  • No annual fee in the initial year, saving you $195.
  • Accrue 3 Membership Rewards points for every $1 spent at major supermarkets and petrol stations.
  • Access $200 allocated for annual travel expenses, applicable towards eligible flights, hotels, or car rentals when booked through American Express Travel.

Pros

  • $0 annual fee in the first year, saving you $195.
  • Receive $200 to spend on eligible domestic and international flights, hotels, or car hire with American Express Travel.
  • Smartphone Screen Cover for smartphone screen repairs up to $500.

Cons

  • The ongoing purchase rate of 23.99%.
The Low Rate Credit Card from American Express

On website

The Low Rate Credit Card from American Express

Highlights

  • Benefit from a competitive 10.99% p.a. interest rate for purchases.
  • Enjoy a perpetual $0 annual fee with card ownership.
  • Access up to 55 days interest-free.

Pros

  • Benefit from a competitive 10.99% p.a. interest rate for purchases.
  • Enjoy a perpetual $0 annual fee with card ownership.
  • Access up to 55 days interest-free.

Cons

  • There are no rewards program for this card.
Qantas American Express Discovery Credit Card

On website

Qantas American Express Discovery Credit Card

Highlights

  • Acquire 1.75 Qantas Points on eligible Qantas products and services.
  • Earn 0.75 Qantas Point for every $1 spent on Card purchases, except for spending at government bodies in Australia, where you will earn 0.5 Qantas Points per $1 spent.
  • Enjoy no annual card fee.
  • Obtain up to 4 Additional Cards for family members or friends with no extra fee.

Pros

  • Ongoing $0 annual fee, a rarity among rewards credit cards.
  • Earn 0.75 Qantas points per $1 spent and 0.5 Qantas points per $1 for government spend.
  • No cap on the number of points you can earn.
  • Add up to 4 additional cards for family members or friends with no extra fee.
  • Complimentary Card Purchase Cover and Card Refund Cover.

Cons

  • There is a 3% foreign transaction fee.
  • Lacks complimentary travel insurance.
  • There is no access to a concierge service.
Westpac Low Rate Cashback Credit Card

On website

Apply by 31 July 2024

Westpac Low Rate Cashback Credit Card

Highlights

  • Get up to $350 cashback when you apply online by 31 July 2024. Receive a $50 cashback monthly for spending over $1,000 in the first 7 statement periods.
  • Enjoy a low ongoing 13.74% p.a. interest rate on purchases.
  • Annual fee of $59 p.a. applies.

Pros

  • Get up to $350 cashback when you meet the criteria.
  • Low 13.74% p.a. interest rate on purchases.
  • 55 days interest-free on purchases.
  • $500 minimum credit limit.

Cons

  • No rewards program although there is a cashback offer.
  • No complimentary travel insurance.
St.George Vertigo Visa

On website

Apply by 31 July 2024

St.George Vertigo Visa

Highlights

  • Benefit from a 28-month 0% interest period on Balance Transfers, accompanied by a 1% balance transfer fee. Afterwards, it switches to a cash advance rate of 21.49% p.a.
  • Enjoy a low variable interest rate of 13.99% p.a. on purchases.
  • The annual fee remains low at $55 p.a.

Pros

  • 0% p.a. for 28 months on balance transfers with no balance transfer fee.
  • 13.99% p.a. low variable interest rate on purchases.
  • Low annual fee of $55 p.a.

Cons

  • Balance transfer rate reverts to 21.49% p.a. after 28 months.
  • There are no rewards program for this card.
NAB Low Rate Card

On website

NAB Low Rate Card

Highlights

  • Experience 0% p.a. on balance transfers for 32 months with no balance transfer fee. Reverting to a variable cash advance rate of 21.74% p.a. after the promotional period.
  • Initial $0 annual card fee for the first year ($59 p.a. thereafter).
  • Receive a response within 60 seconds.

Pros

  • 0% p.a. on balance transfers for 32 months.
  • No balance transfer fee.
  • The waived annual fee for the first year.
  • Additional credit card is free.

Cons

  • No rewards program for this card.
  • No insurance coverage.
NAB StraightUp Credit Card

On website

NAB StraightUp Credit Card

Highlights

  • Obtain the latest credit card from NAB - straightforward, affordable, and above all, interest-free!
  • No Use, No Pay. Should your NAB StraightUp credit card remain unused throughout the entire statement period, the monthly fee will be reimbursed. No unexpected charges!
  • Utilize your card for foreign currency transactions and relish in zero foreign transaction fees!
  • Consistent fixed minimum payments determined by your credit limit, providing you with assurance of monthly payment amounts.

Pros

  • Charges a monthly fee based on your selected credit limit.
  • The monthly fee will be reversed if you do not have any outstanding balance or purchase.
  • No interest charges or other fees, including foreign currency fees and late payment fees.

Cons

  • No rewards program for this card.
  • No balance transfers or cash advances.
NAB Rewards Signature Credit Card

On website

NAB Rewards Signature Credit Card

Highlights

  • Earn up to 140,000 bonus Points. Obtain 100,000 bonus points upon spending $3,000 within the initial 60 days from account approval date and an additional 40,000 bonus points upon maintaining your card open for over 12 months. Terms and conditions apply.
  • Benefit from a reduced annual card fee of $195 p.a. for your first year (reverts to $295 p.a. thereafter).
  • Accrue 2.5 points on purchases made in major department and hardware stores.
  • Gain 1.25 points for every $1 spent on everyday purchases.

Pros

  • Earn up to 140,000 bonus NAB Rewards Points when you meet the criteria.
  • The discounted $195 annual fee on the first year.
  • 0% p.a. on balance transfers for 12 months.
  • Includes international travel insurance.

Cons

  • There is a 3% balance transfer fee.
Bank of Melbourne Vertigo Visa

On website

Apply by 31 July 2024

Bank of Melbourne Vertigo Visa

Highlights

  • Enjoy 0% for 28 months on Balance Transfers with a 1% balance transfer fee. Reverts to cash advance rate of 21.49% p.a.
  • 13.99% p.a. low variable interest rate on purchases.
  • Low annual fee of $55 p.a.

Pros

  • 0% p.a. for 28 months on balance transfers with 1% balance transfer fee.
  • 13.99% p.a. low variable interest rate on purchases.
  • Low annual fee of $55 p.a.

Cons

  • Balance transfer rate reverts to 21.49% p.a. after 28 months.
  • There are no rewards program for this card.
BankSA Vertigo Credit Card

On website

Apply by 31 July 2024

BankSA Vertigo Credit Card

Highlights

  • Receive up to $400 cashback on your supermarket purchase or benefit from 0% interest for 28 months on Balance Transfers with a 1% balance transfer fee. Reverts to a cash advance rate of 21.49% p.a.
  • Enjoy a low variable interest rate of 13.99% p.a. on purchases.
  • 55 days interest-free on purchases.

Pros

  • Get 10% cashback on your supermarket shop or 0% p.a. for 28 months on balance transfers with a 1% balance transfer fee.
  • 13.99% p.a. low variable interest rate on purchases.
  • Up to 55 days interest-free on purchases.

Cons

  • Balance transfer rate reverts to 21.49% p.a. after 28 months.
  • There are no rewards program for this card.
NAB Low Fee Credit Card

On website

NAB Low Fee Credit Card

Highlights

  • Benefit from up to $240 credit back. Receive $80 back per month for the initial three months upon spending $500 per month.
  • Low $30 p.a. ongoing annual fee.
  • 12 months at 0% p.a. on balance transfers (3% balance transfer fee applies). Reverting to the variable cash advance rate of 21.74% p.a.

Pros

  • The opportunity to get a cashback up to $240.
  • 0% p.a. on balance transfers for 12 months.
  • Apply for an additional cardholder at no extra cost.

Cons

  • There is a 3% balance transfer fee.
  • Ongoing interest on purchases and cash advances is not low.
  • Doesn't earn rewards.
MONEYME Freestyle Virtual Card

On website

MONEYME Freestyle Virtual Card

Highlights

  • Use virtual card instantly once approved (typically within 60 mins)
  • Tap n Pay with up to 55 days interest free
  • Use credit to transfer money to anyone
  • Exclusive features
  • Thousands of 5-star customer reviews

Bank promo

  • Get MONEYME's lowest advertised rate EVER of 18.74% p.a.
  • Annual fee of $0 to $149 p.a. based on credit limit plus a monthly fee of $5 for balances over $20.

Pros

  • Available to use immediately after approval.
  • Money can be transferred to your bank account.
  • Get cashback at participating stores with Cashrewards.

Cons

  • The maximum credit limit is comparatively low.
  • Combination of annual and monthly fees can be quite expensive for the highest credit limit.
  • There is a 1.5% withdrawal fee.

Many banks respond to online credit card applications within 60 seconds of submission, which is about as quick as you can get in Australia.

Approval for one of these cards is not guaranteed. It's crucial to review the credit card's eligibility criteria before applying. Failing to meet these criteria means a decline is highly likely.

"Approval for one of these cards is fast, but it is not technically instant. If you apply for one, expect a response from the bank within 60 seconds. Approval is not guaranteed either."
David Boyd
CEO at Credit Card Compare

How instant approval credit cards work

Instant approval credit cards streamline the application process by leveraging automated systems to assess applicants' creditworthiness in real time.

When you submit an online application for an instant approval credit card, the issuer uses algorithms to quickly evaluate your credit history, income, and other relevant factors to determine your eligibility.

If you meet all of the issuer's criteria and they do not require further evidence, you may be approved within 60 seconds. There are a small number of issuers in Australia who issue a virtual card that can be added to a mobile wallet such as Apple Pay or Samsung and used immediately. These include Bankwest, Bendigo Bank, Latitude Financial, MONEYME, and Westpac.

"There are no guarantees when it comes to credit card applications, instant approval credit cards included. Before you apply for any credit card, check your credit score and have a look through your credit report. Banks can also see what's in your report — you'll be asked to give your consent for them to check it as part of the application — and they'll be able to see recent missed payments and defaults."
David Boyd
CEO at Credit Card Compare

What to consider when choosing an instant approval credit card

Before applying for an instant approval credit card, it's essential to consider several factors to ensure you select the right card for your needs.

  • Eligibility criteria: Review the issuer's eligibility requirements, such as minimum income thresholds, credit score benchmarks, and other criteria.
  • Interest rates and fees: Understand the card's annual percentage rate (APR), fees, and any other charges associated with the card to assess its cost-effectiveness.
  • Rewards and benefits: Evaluate the rewards programs, cashback cards, and other perks that come with the card to determine if they align with your spending habits and lifestyle.
  • Credit limit: Consider the card's credit limit and ensure it meets your purchasing needs without encouraging overspending.
  • Payment flexibility: Look for cards that offer flexibility in payment options, such as interest-free periods or convenient payment methods.

How to apply for an instant approval credit card

Applying for an instant approval credit card is a straightforward process. The following steps apply as they do for any application.

  1. Research and compare: Research different instant approval credit cards available in the market and compare their features, benefits, and terms to find the most suitable option.
  2. Online application: Fill out the online application form provided by the issuer, ensuring that you provide accurate information and meet the eligibility criteria. Be sure to have all the documents they ask for in an appropriate format to avoid delays and declines.
  3. Instant approval: Upon submitting your application, the issuer will assess your information using automated systems to provide an instant decision on your application.
  4. Card activation: If approved, you will receive your card details, which you can promptly activate online or by phone to start using the card for purchases.

Help choosing an instant approval credit card

Learn more about accessing credit with instant approval credit cards.

  • FAQs

  • Pros & cons

  • Alternatives

Can you get an instant approval credit card with bad credit?

Getting approved for any credit card with bad credit can be challenging, even one with a decision from the issuer within 60 seconds.

Applying with bad credit might lead to a declined application or conditional approval, meaning you'll need to provide further information before getting a decision.

Each credit card application can affect your credit score. If you're concerned about what's on your credit report, try to build your credit before applying to improve your approval odds.

Can you use a credit card immediately after approval?

Most credit cards are not available for use immediately after approval. However, some cards issued by Bankwest, Bendigo Bank, Latitude Financial, MONEYME, and Westpac are available to use immediately after approval as a virtual card in a compatible mobile wallet.

Are there any guaranteed instant approval credit cards?

No. Guaranteed credit cards do not exist in Australia since any credit card application involves a decision process.

Does applying for a credit card with instant approval involve a credit check?

Yes, always. If you apply for any credit card in Australia, there will be a credit check.

Pros

Quick access to credit

Instant approval credit cards offer the primary benefit of immediate feedback on your application, typically within 60 seconds where available.

Convenience

The application process for these cards is streamlined, providing a high level of convenience and saving applicants time and effort compared to traditional credit card applications. The bank's quick response also removes uncertainty.

Cons

There's no guarantee of approval

The bank will assess your application and come back with their decision within 60 seconds. They will often require additional information before making a final decision (payslips, accounts, and so on being commonly requested).

Impulsive spending risk

The ease and speed of obtaining credit can lead to impulsive spending decisions, particularly if the application is approved immediately without the need for further documentation.

Credit score impact

Each application for a credit card involves a credit check, which can temporarily impact your credit score. While this is not unique to instant approval cards, the convenience might encourage more frequent applications, potentially leading to more significant credit score implications.

Buy Now, Pay Later services

Opening an account with a buy now, pay later service such as Afterpay or Zip may be worth considering as an alternative to applying for a credit card.

Personal loans

Although you won't be able to use it like a credit card, some personal loans are able to process an application very quickly. The fastest lenders can process a loan and deposit funds on the same day.