Instant Approval Credit Cards

Compare instant approval credit cards and apply online. Get a fast response within 60 seconds.

By   |   Updated 17 Jul 2024

As seen on

Media - The Sydney Morning Herald
Media - Yahoo Finance
Media - News.com.au
Media - Daily Mail Australia
Media - Australian Fintech
Media - Dynamic Business

Comparing instant approval credit cards

Citi Rewards 100,000 Bonus Citi Reward Points Offer

Featured

Citi Rewards 100,000 Bonus Citi Reward Points Offer

Balance transfer

N/A

Purchase rate

21.49% p.a. ongoing

Annual fee

$99.00 for 1st year

Highlights

  • Receive 100,000 bonus Citi reward Points after spending $5,000 on eligible purchases within the initial 3 months days from approval. Terms and Conditions apply.
  • The initial year presents a discounted annual fee of $99 ($199 p.a. thereafter).
  • Comes with complimentary mobile phone Insurance.*


*Citi Credit Cards Complimentary Mobile Phone Insurance Terms and Conditions


Pros

  • Earn 100,000 bonus points when you meet the criteria.
  • Discounted annual fee.
  • You can shop and use your points to receive a credit back.
  • 10% off Limited Time LUX Exclusive hotel offers (up to $250 per booking) booked by 1 March 2025.

Cons

  • No ongoing introductory balance transfer or purchase offer.
Citi Rewards Card Balance Transfer and Purchase Offer

Citi Rewards Card Balance Transfer and Purchase Offer

Balance transfer

15 months at 0% p.a.

Purchase rate

15 months at 0% p.a.

Annual fee

$199.00 p.a. ongoing

Highlights

  • 0% p.a. for 15 months on purchases and balance transfers. Balance transfer reverts to cash advance rate.
  • Complimentary mobile phone insurance when you pay your monthly mobile plan bill with your Citi Rewards Credit Card .
  • Earn up to 1 Citi reward point for every $1 spent.

Pros

  • 0% p.a. on balance transfers and purchases for the first 15 months.
  • No balance transfer fee.
  • Earn up to 1 Citi reward point for every $1 spent.
  • 10% off Limited Time LUX Exclusive hotel offers (up to $250 per booking) booked by 1 March 2025.

Cons

  • Balance transfer changes to a 22.24% p.a. cash advance rate after 15 months.
  • Fee for an additional card is $90.
Cape Mastercard Interest-Free Days Business Credit Card

On website

Cape Mastercard Interest-Free Days Business Credit Card

Balance transfer

N/A

Purchase rate

0% p.a. ongoing

Annual fee

From $383.88 p.a. ongoing

Highlights

  • Enjoy 30 days of interest-free credit on all purchases.
  • No fee for the first month.
  • Access generous credit limits of up to $500,000.
  • Benefit from 0% foreign transaction fees on international spending.

Pros

  • Add unlimited cardholders at no extra cost.
  • Seamlessly integrate with Xero for streamlined accounting.
  • Quick and easy application process.
  • Enjoy complimentary access to airport lounges worldwide.

Cons

  • Enjoy 30 days APR-free; thereafter, a standard 2.99% fee applies to revolving balances.
American Express Essential® Rewards Credit Card

Apply by 23 July 2024

American Express Essential® Rewards Credit Card

Balance transfer

N/A

Purchase rate

23.99% p.a. ongoing

Annual fee

$108.00 p.a. ongoing

Highlights

  • Get up to 80,000 Membership Rewards points. Within your initial 120 days upon applying by 23 July 2024, and getting approved for American Express Essential® Rewards Credit Card, you can accumulate 20,000 Membership Rewards points for every 30 days when you spend $1,000 on eligible purchases using your Card during the first 120 days. T&Cs apply. New American Express Card Members only.
  • You can earn up to 5 points on your first 10,000 points per month.
  • A modest $9 monthly fee is applicable.

Pros

  • Earn 5 points on eligible restaurants and food delivery, 3 points on selected streaming services, 2 points at selected retailers, and 1 point everywhere else.
  • Enjoy up to 15% back through MyAmexShop
  • Get up to 4 Additional Cards at no extra charge.
  • Comes with Smartphone screen insurance, retail insurance, and Fraud Protection.

Cons

  • Accelerated earn rate is capped.
  • The monthly fee adds up to $108 annually.
  • Doesn't come with travel insurance.
American Express Qantas Ultimate Credit Card

Balance transfer

N/A

Purchase rate

23.99% p.a. ongoing

Annual fee

$450.00 p.a. ongoing

Highlights

  • Get up to 90,000 bonus Qantas Points. Acquire 70,000 bonus Qantas Points by applying before 28 May 2024, getting approved, and spending $3,000 on eligible purchases within the first 3 months. Plus, an additional 20,000 bonus Qantas Points in your second year upon fee renewal. 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 up to 90,000 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

Balance transfer

N/A

Purchase rate

23.99% p.a. ongoing

Annual fee

$0.00 for 1st year

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

Balance transfer

N/A

Purchase rate

10.99% p.a. ongoing

Annual fee

$0.00 p.a. ongoing

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

Balance transfer

N/A

Purchase rate

23.99% p.a. ongoing

Annual fee

$0.00 p.a. ongoing

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.
American Express Velocity Platinum Credit Card

Balance transfer

N/A

Purchase rate

23.99% p.a. ongoing

Annual fee

$375.00 p.a. ongoing

Highlights

  • Get 60,000 bonus Velocity Points upon applying online, getting approved, and making $3,000 in eligible purchases with your new Card within the initial 3 months. Offer valid for new Amex Card Members exclusively.
  • Receive a complimentary Virgin Australia return Economy domestic flight between specified cities annually following your first Card spend each year.
  • Benefit from 2 complimentary Virgin Australia lounge passes each year at selected domestic airports.

Pros

  • Receive 60,000 bonus Velocity Points when you meet the criteria.
  • Complimentary Virgin Australia return Economy domestic flight between selected cities each year after your first Card spend each anniversary year.
  • Enjoy 2 complimentary Virgin Australia lounge passes each anniversary year at selected domestic airports.
  • Receive 100 Velocity Frequent Flyer Status Credits, when you spend a minimum of $50,000 within your card membership year.
  • Complimentary domestic and international travel insurance.
  • Get the Amex Experiences App to access information on Platinum benefits, travel offers, events and recommended merchants.
  • Add up to 4 additional cardholders for free.

Cons

  • The interest rates applied to balances carried over is on the high end.
  • There is no balance transfer offer on this card.
American Express Explorer Credit Card

Balance transfer

N/A

Purchase rate

23.99% p.a. ongoing

Annual fee

$395.00 p.a. ongoing

Highlights

  • Obtain 50,000 Bonus Membership Rewards Points upon application approval and spending $4,000 on your new Card within the initial 3 months. T&Cs apply. Exclusive to New Amex Card Members.
  • Enjoy a $400 Travel Credit annually for flights, hotels, and car rentals when booked online using this card.
  • Benefit from complimentary domestic and international travel insurance coverage.

Pros

  • The 50,000 bonus Membership Rewards Points when approved and reach spend requirement within the first 3 months.
  • Receive a $400 travel credit every year.
  • Earn 2 Membership Rewards points per $1 spent on purchases except for government bodies in Australia where you will earn 1 point per $1 spent (uncapped).
  • Get two complimentary entries per year to The Centurion® Lounge.

Cons

  • The $395 p.a. annual fee.
American Express Velocity Escape Card

Balance transfer

N/A

Purchase rate

23.99% p.a. ongoing

Annual fee

$0.00 p.a. ongoing

Highlights

  • Acquire Velocity Points while benefiting from a $0 annual card fee.
  • Points accrued on your card seamlessly transfer to your Velocity account monthly and are redeemable for various rewards such as flights, lodging, car rentals, gift cards, and beyond.
  • Earn 0.75 Velocity Points per $1 spent, except for transactions with Australian government entities, where you'll earn 0.5 Velocity Points per $1 spent.

Pros

  • No annual fee, but still earn points.
  • Earn 1.75 Velocity Points per $1 spent on purchases with Virgin Australia.
  • Get 0.5 points per $1 when paying tax to the ATO using the card.
  • 55 days interest-free on purchases when the previous balance has been cleared in full.

Cons

  • Doesn't come with complimentary travel insurance.
  • No complimentary lounge access.
  • No access to the concierge service.
  • There is no balance transfer offer for this card.
American Express Platinum Card

Balance transfer

N/A

Purchase rate

N/A

Annual fee

$1,450.00 p.a. ongoing

Highlights

  • Acquire 200,000 Bonus Membership Rewards Points by applying online, getting approved, and spending $5,000 on your new Card within the initial 3 months. T&Cs apply. Exclusive to New Amex Card Members.
  • Utilize a $450 Platinum Travel Credit annually for flight, hotel, or car rental bookings.
  • Indulge in up to $400 per calendar year when dining at a curated selection of over 1,400 hand-picked restaurants, both domestically and internationally. Terms and Conditions apply.

Pros

  • Receive 200,000 Bonus Membership Rewards Points when you meet the criteria.
  • Receive a $450 Platinum Travel Credit each year.
  • Enjoy up to $400 Global Dining Credit per calendar year.
  • Access to more than 1,400 lounges globally, including The Centurion® Lounge.
  • Get the Amex Experiences App to access information on Platinum benefits, travel offers, events and recommended merchants.

Cons

  • The annual fee of $1,450.
The Qantas American Express Premium Card

Balance transfer

N/A

Purchase rate

23.99% p.a. ongoing

Annual fee

$249.00 p.a. ongoing

Highlights

  • Obtain 20,000 bonus Qantas Points upon online application approval and spending $3,000 within 3 months. Exclusive to New Amex Card Members.
  • Enjoy 2 complimentary Qantas Club invitations annually (conditions apply).
  • Benefit from complimentary domestic and international travel insurance coverage.

Pros

  • 20,000 bonus Qantas points for signing up and hitting the spending target.
  • Earn points on your everyday spend. Also earns points at a reduced rate on government spend.
  • Give up to 4 of your friends and family a card — at no extra cost — to earn more points.
  • $450 Qantas Travel Credit, which is fairly easy to trigger with your first Qantas purchase each year.
  • Comes with complimentary card purchase cover and travel insurance.

Cons

  • There is an annual fee of $249.
  • The purchase rate is quite high, but can be avoided with responsible use.
  • No balance transfer facility.
Citi Clear Credit Card

Citi Clear Credit Card

Balance transfer

24 months at 0% p.a.

Purchase rate

14.99% p.a. ongoing

Annual fee

$49.00 for 1st year

Highlights

  • Benefit from 0% p.a. for 24 months on Balance Transfers (with a 1.5% Balance Transfer fee). The rate reverts to the cash advance rate.
  • Get a discounted first-year annual fee of $49 ($99 p.a. thereafter)
  • Enjoy a low ongoing variable purchase rate of 14.99% p.a.
  • Access to complimentary insurances including Extended Warranty Insurance and Purchase Protection Insurance.*



*Complimentary insurance covers are subject to eligibility requirements: AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631 (trading as Allianz Global Assistance) under a binder from the underwriter, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz) has issued a Complimentary insurance group policy to National Australia Bank Limited (ABN 12 004 044 937, AFSL and Australian Credit Licence 230686) (“NAB”) which allows eligible NAB account holders and cardholders to claim under it as third party beneficiaries by operation of s48 of the Insurance Contracts Act 1984 (Cth). NAB is the credit provider and issuer of Citi branded credit cards. NAB has acquired the business relating to these products from Citigroup Pty Limited (ABN 88 004 325 080, AFSL and Australian Credit Licence 238098) (“Citi”). Citi has agreed with NAB to provide transitional services in relation to the transferred business. Any advice on insurance is general advice only and not based on any consideration of your objectives, financial situation or needs. The terms, conditions, exclusions, limits and applicable sub-limits of the group policy are set out in the Citi Credit Cards Complimentary Insurance Policy Information Booklet which may be amended from time to time. Neither NAB nor Citi nor any of its related corporations guarantee this insurance.


Pros

  • Low ongoing variable purchase rate of 14.99% p.a.
  • Add up to 4 additional cardholders at $0 fee.
  • Up to 55 days interest-free on retail purchases.
  • Enjoy 10% off (up to $250) Limited Time LUX Exclusive hotel offers until 1 March 2025.

Cons

  • There is no rewards program on this card.
  • After the initial year, the annual fee reverts to $99 p.a.
  • Interest will be charged on retail purchases while you have a balance transfer.
St.George Vertigo Visa Credit Card

On website

Balance transfer

28 months at 0% p.a.

Purchase rate

13.99% p.a. ongoing

Annual fee

$55.00 p.a. ongoing

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.
Westpac Low Rate Cashback Credit Card

On website

Balance transfer

N/A

Purchase rate

13.74% p.a. ongoing

Annual fee

$59.00 p.a. ongoing

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.
NAB Low Rate Credit Card

On website

Balance transfer

28 months at 0% p.a.

Purchase rate

13.49% p.a. ongoing

Annual fee

$0.00 for 1st year

Highlights

  • Experience 0% p.a. on balance transfers for 28 months with a 2% 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 28 months.
  • A variable purchase rate of 13.49% p.a.
  • The waived annual fee for the first year.
  • Additional credit card is free.

Cons

  • There is a 2% balance transfer fee.
  • No rewards program for this card.
  • No insurance coverage.
ANZ Rewards Platinum Credit Card

On website

Balance transfer

N/A

Purchase rate

20.99% p.a. ongoing

Annual fee

$149.00 p.a. ongoing

Highlights

  • Obtain 100,000 bonus Reward Points and $50 cashback upon spending $2,000 on eligible purchases within the initial 3 months after approval.
  • Access a variety of complimentary insurances for both travel and purchases.
  • Accumulate ANZ Rewards Points on your everyday purchases.

Pros

  • 100,000 bonus Reward Points and a $50 cashback when you meet the criteria.
  • Earn 1.5 points per $1 spent up to $2,000 per statement period.
  • No cap on the total number of points you can earn.
  • Comes with complimentary insurance covers, including international travel insurance and purchase protection insurance.
  • ANZ Rewards points can be transferred to several airline partners, giving you booking flexibility.
  • Up to 55 days interest-free on purchases.

Cons

  • There is a $65 annual fee per additional cardholder.
  • The earn rate drops to 0.5 points per $1 after $2,000 per statement period.
  • No balance transfer offer.
  • No lounge access.
ANZ Platinum Credit Card

On website

Balance transfer

N/A

Purchase rate

20.99% p.a. ongoing

Annual fee

$0.00 for 1st year

Highlights

  • Receive $300 cashback upon spending $1,500 on eligible purchases within the initial 3 months after approval. Terms and Conditions apply.
  • Enjoy up to 55 days interest-free on purchases by paying your account in full each month.
  • No annual fee for the first year. Subsequently, a standard annual fee of $87 p.a. applies.

Pros

  • Earn a $300 cashback when you meet the spend criteria.
  • $0 annual fee in the first year, $87 p.a. thereafter (terms and conditions apply).
  • Comes with Personal Concierge service,
  • Complimentary insurance covers include international travel insurance, purchase protection insurance, and extended warranty insurance.

Cons

  • There is no rewards program on this card.
  • No balance transfer offer.
St.George Amplify Signature Credit Card (Amplify)

On website

Apply by 31 July 2024

St.George Amplify Signature Credit Card (Amplify)

Balance transfer

24 months at 0% p.a.

Purchase rate

19.49% p.a. ongoing

Annual fee

$199.00 for 1st year

Highlights

  • Up to 150,000 Bonus Amplify Rewards Points earned upon spending $12,000 on eligible purchases within the first 12 months from card approval.
  • Initial card fee of $199 for the first year ($295 p.a. thereafter).
  • 0% p.a. interest for 24 months on balance transfers with a 1% balance transfer fee applied to transferred amounts.
  • Comes with complimentary overseas travel insurance coverage for up to 6 months.

Pros

  • The 150,000 bonus Amplify Rewards Points.
  • Save $96 with the $199 card fee for the first year.
  • Enjoy 2 complimentary Priority Pass lounge visits each year when you enroll in Priority Pass.
  • Comes with concierge services.

Cons

  • After the initial year, the annual fee is $295 p.a.
  • There is a 1% balance transfer fee.
Qantas Premier Platinum Credit Card

On website

Balance transfer

12 months at 0% p.a.

Purchase rate

19.99% p.a. ongoing

Annual fee

$349.00 for 1st year

Highlights

  • Get up to 100,000 bonus Qantas Points. Get 70,000 bonus Qantas Points upon spending $3,000 or more on eligible purchases within 3 months from card approval. Plus, an extra 30,000 bonus points if you haven't earned Qantas Points with a credit card in the past 12 months. Terms and Conditions apply.
  • Benefit from 0% on Balance Transfer for 12 months with a 2% Balance Transfer fee. Returns to Cash Advance rate thereafter. No interest-free days are applicable on retail purchases with an outstanding balance transfer.
  • Benefit from the reduced annual fee of $349 p.a. for the initial year. An ongoing annual fee of $399 p.a. is applicable in the 2nd year.

Pros

  • Earn up to 100,000 bonus Qantas Points when you meet the criteria.
  • 0% p.a. for 12 months on balance transfers.
  • Additional savings with the $349 first-year annual fee.
  • Comes with complimentary travel insurance.

Cons

  • The annual fee increases to $399 p.a. after the initial year.
  • There is a 2% balance transfer fee.
ANZ Rewards Black Credit Card

On website

Balance transfer

N/A

Purchase rate

20.99% p.a. ongoing

Annual fee

$375.00 p.a. ongoing

Highlights

  • Get 180,000 bonus Reward Points and $150 cash back upon spending $3,000 on qualifying purchases within the initial 3 months of approval.
  • Accrue 2 Reward Points for every $1 spent on qualifying purchases, up to $5,000 per statement period.
  • Enjoy complimentary international travel insurance.

Pros

  • Receive 180,000 bonus ANZ Rewards points and earn a $150 cash back when you meet the criteria.
  • Earn 2 points per $1 spent on eligible purchases up to $5,000 per statement period.
  • There is no cap on the number of points you can earn.
  • Free international travel insurance and purchase protection insurance.

Cons

  • The $375 p.a. annual fee.
  • Doesn't come with lounge access.
  • No balance transfer offer.
Kogan Money Black Credit Card

On website

Balance transfer

9 months at 0% p.a.

Purchase rate

9 months at 0% p.a.

Annual fee

$0.00 p.a. ongoing

Highlights

  • Receive $250 Kogan.com Credit upon spending $3,000 on qualifying purchases within 90 days from card approval.
  • Enjoy no annual fees.
  • Benefit from 0% p.a. for 9 months on balance transfers with a 0% balance transfer fee. Reverts to cash advance rate of 22.74% p.a.
  • Additionally, enjoy an introductory low purchase interest rate of 0% p.a. for the first 9 months.

Pros

  • Get a $250 sign up bonus in Kogan.com Credit when you meet the criteria.
  • Take advantage of the introductory BT and purchase rates.
  • $0 annual fee.
  • Earn 2 reward points per $1 on eligible purchases at Kogan.com and 1 reward point per $1 on other eligible purchases.
  • Add up to 4 additional cardholders at $0 fee.
  • Uncapped rewards.

Cons

  • There is a 3.4% foreign currency fee.
  • The ongoing cash advance rate is 22.74% p.a.
Westpac Lite Mastercard

On website

Westpac Lite Mastercard

Balance transfer

N/A

Purchase rate

9.9% p.a. ongoing

Annual fee

$108.00 p.a. ongoing

Highlights

  • Low variable purchase rate of 9.90% p.a.
  • No foreign transaction fee when using your card overseas.
  • $108 p.a. annual fee.

Pros

  • Low-interest rate.
  • Up to 45 interest-free days on purchases.
  • Get an additional cardholder at no extra cost.

Cons

  • No rewards program.
  • No introductory balance transfer offer.
NAB StraightUp Credit Card

On website

Balance transfer

N/A

Purchase rate

0% p.a. ongoing

Annual fee

$0.00 p.a. ongoing

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.
MONEYME Freestyle Virtual Card

On website

Balance transfer

N/A

Purchase rate

From 18.24% p.a. ongoing

Annual fee

From $0.00 p.a. ongoing

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.
St.George Amplify Platinum Credit Card (Amplify)

On website

Balance transfer

24 months at 0% p.a.

Purchase rate

19.49% p.a. ongoing

Annual fee

$49.00 for 1st year

Highlights

  • Earn 100,000 bonus Amplify Points upon spending $3,000 on eligible purchases within 90 days from card approval, potentially valued at up to $450 in eGift cards. Exclusions apply.
  • 0% interest for 24 months on balance transfers with a 1% balance transfer fee, which then reverts to the cash advance rate of 21.49% p.a.
  • Enjoy a discounted annual fee of $49 p.a. for the first year ($124 p.a. annual fee thereafter).

Pros

  • The 100,000 bonus Amplify Points.
  • Earn uncapped Amplify Points per dollar on eligible purchases.
  • 0% p.a. for 24 months on balance transfers.
  • Comes with complimentary insurance (terms, conditions, exclusions, and eligibility criteria apply).
  • Compatible with Apple Pay, Google Pay, and Samsung Pay.

Cons

  • There is a 1% balance transfer fee. Other cards offer 0% balance transfer fee.
Virgin Money Low Rate Credit Card

On website

Balance transfer

15 months at 0% p.a.

Purchase rate

12.99% p.a. ongoing

Annual fee

$99.00 p.a. ongoing

Highlights

  • 0% p.a. for 15 months on balance transfers with no balance transfer fee. Reverts to the cash advance rate at 21.69% p.a.
  • Low ongoing purchase rate of 12.99% p.a.
  • Up to 55 days interest-free on purchases.

Pros

  • 0% p.a. for 15 months on balance transfers.
  • No balance transfer fee.
  • Low ongoing interest rate on purchases at 12.99% p.a.
  • Compatible with Apple Pay, Google Pay and Samsung Pay.

Cons

  • If you want additional cardholders, it will cost $29 p.a. per cardholder.
  • Doesn't earn Velocity Points.
BankSA Vertigo Credit Card

On website

Apply by 31 July 2024

BankSA Vertigo Credit Card

Balance transfer

28 months at 0% p.a.

Purchase rate

13.99% p.a. ongoing

Annual fee

$55.00 p.a. ongoing

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.
BankSA Amplify Platinum Credit Card (Qantas)

On website

Balance transfer

24 months at 0% p.a.

Purchase rate

19.49% p.a. ongoing

Annual fee

$99.00 for 1st year

Highlights

  • Receive up to 70,000 bonus Amplify Points. Acquire 60,000 Qantas Points in the first year upon spending $3k+ on eligible purchases within the initial 90 days from new card approval, and an additional 10,000 points after your first eligible purchase in the second year.
  • Enjoy 0% p.a. for 24 months on balance transfers with a 1% balance transfer fee, reverting to the cash advance rate.
  • Earn 0.5 points per $1 spent (uncapped) and receive a complimentary Qantas membership fee, saving you $99.50!

Pros

  • The 70,000 bonus Qantas Points.
  • Discounted annual fee on the first year.
  • Complimentary travel and purchase insurances.

Cons

  • There is a 1% balance transfer fee.
  • Points earning rate of 0.5 points is lower than others.
CommBank Neo

On website

Balance transfer

N/A

Purchase rate

0% p.a. ongoing

Annual fee

$0.00 p.a. ongoing

Highlights

  • Zero interest, zero late fees.
  • Three credit limit options: $1,000, $2,000, or $3,000.
  • Monthly fee remains straightforward: $12, $18, or $22, corresponding to your chosen credit limit.

Pros

  • No interest, no late fees.
  • No foreign exchange or additional cardholder fees.
  • Cashback benefits for eligible cardholders.

Cons

  • No Awards points for this card.
  • Low credit limits.
  • No balance transfers.
ANZ Frequent Flyer Black Credit Card

On website

Balance transfer

N/A

Purchase rate

20.99% p.a. ongoing

Annual fee

$425.00 p.a. ongoing

Highlights

  • Receive up to 130,000 points. Obtain 100,000 bonus Qantas Points and $250 cashback to your new card upon spending $5,000 on qualifying purchases within the initial 3 months from approval. Additionally, earn an extra 30,000 bonus Qantas Points by maintaining your card for over 12 months. Terms and Conditions apply.
  • Earn 1 Qantas Point for every $1 spent on eligible purchases, up to $7,500 per statement period.
  • Enjoy 7 complimentary insurances, including International Travel Insurance.

Pros

  • Earn up to 130,000 bonus Qantas Points and $250 cashback when you meet the criteria.
  • 1 point per $1 spent up to $7,500 per statement period.
  • Earn an uncapped number of points.
  • Enjoy 2 complimentary Qantas Club lounge invitations each year.
  • Comes with complimentary international travel insurance.
  • Up to 55 days interest-free on purchases.

Cons

  • The annual fee of $425 p.a. is high.
  • Earn rate drops to 0.5 points per $1 spent above $7,500 per statement period.
  • No balance transfer offer.
Virgin Australia Velocity High Flyer Credit Card

On website

Balance transfer

12 months at 0% p.a.

Purchase rate

20.74% p.a. ongoing

Annual fee

$329.00 p.a. ongoing

Highlights

  • Up to 80,000 bonus Velocity Points upon spending $3,500 on eligible purchases within 4 months of card approval. Terms and conditions apply.
  • 0% p.a. interest for 12 months on balance transfers (no balance transfer fee applies). Reverts to cash advance rate of 20.99% p.a.
  • Receive an exclusive $129 Virgin Australia Gift Voucher annually. Terms and Conditions apply.

Pros

  • Earn up to 80,000 bonus Velocity Points when you meet the criteria.
  • Earn 1 Velocity Point per $1 spent on eligible transactions up to $8,000 and 0.5 points per $1 on spending thereafter.
  • Two single entry passes for Virgin Australia domestic lounges every year.
  • Flight voucher worth $129 each year.
  • Comes with International Travel Insurance and Extended Warranty Service.
  • Works with Apple Pay and Samsung Pay.

Cons

  • The ongoing annual fee of $329 p.a.
  • Earn rate is tiered, although the base tier is enough for more people.
  • Only up to 44 interest-free days on purchases.
  • There's an annual fee per additional card.
BankSA Amplify Signature Credit Card (Qantas)

On website

Balance transfer

24 months at 0% p.a.

Purchase rate

19.49% p.a. ongoing

Annual fee

$295.00 p.a. ongoing

Highlights

  • Receive up to 90,000 bonus Qantas Points upon spending $6,000 on eligible purchases within 90 days from card approval. Exclusions apply.
  • Enjoy 0% p.a. for 24 months on balance transfers with a 1% balance transfer fee on transferred amounts.
  • Benefit from complimentary overseas travel insurance for up to 6 months.

Pros

  • The 90,000 bonus Qantas Points.
  • 0% p.a. for 24 months on balance transfers.
  • Includes complimentary overseas travel insurance for up to 6 months

Cons

  • There is a 1% balance transfer fee.
  • The annual fee of $295 p.a.
Bank of Melbourne Amplify Platinum Credit Card (Amplify)

On website

Balance transfer

24 months at 0% p.a.

Purchase rate

19.49% p.a. ongoing

Annual fee

$49.00 for 1st year

Highlights

  • Earn up to 100,000 bonus Amplify Points when you spend $3,000 on eligible purchases within 90 days from card approval. Exclusions apply.
  • 0% for 24 months on balance transfers with a 1% balance transfer fee. Reverts to cash advance rate of 21.49% p.a.
  • $49 p.a. annual fee for the first year ($124 p.a. annual fee thereafter)

Pros

  • The 100,000 bonus Amplify Points.
  • 0% for 24 months on balance transfers.
  • Comes with complimentary insurance (terms, conditions, exclusions, and eligibility criteria apply).
  • Compatible with Apple Pay, Google Pay, and Samsung Pay.

Cons

  • There is a 1% balance transfer fee. Other cards offer 0% balance transfer free.
HSBC Platinum Qantas Credit Card

On website

Balance transfer

12 months at 0% p.a.

Purchase rate

19.99% p.a. ongoing

Annual fee

$0.00 for 1st year

Highlights

  • Accrue 1 Qantas Point per $1 spent, up to $1,000 monthly; thereafter, earn 0.5 Qantas Points. Point accumulation capped at 7,500 per statement period.
  • Enjoy 0% p.a. for 12 months on balance transfers, with a 2% balance transfer fee. (Reverts to cash advance rate of 21.99% p.a.)
  • Includes complimentary travel insurance and purchase insurance.

Pros

  • Earn up to 1 Qantas Point per $1 spent.
  • Comes with complimentary travel insurance and purchase insurance.
  • You get complimentary Qantas Frequent Flyer membership for free.
  • Add additional cardholders for free.
  • Up to 55 interest-free days.

Cons

  • There is a 2% BT fee.
  • Qantas Points are capped at 7,500 per statement period.
  • Ongoing annual fee of $299 p.a.
  • Ongoing interest rates are high.
ANZ First Visa Credit Card

On website

Balance transfer

N/A

Purchase rate

20.99% p.a. ongoing

Annual fee

$0.00 for 1st year

Highlights

  • Obtain $125 cashback upon spending $750 on eligible purchases within the initial 3 months after approval. Terms and Conditions apply.
  • Enjoy a $0 annual fee for the first year ($30 p.a. thereafter).
  • Benefit from up to 55 days interest-free on purchases by paying your account in full each month.

Pros

  • Earn a $125 cashback when you meet the criteria.
  • $0 first-year annual fee.
  • A low minimum credit limit of $1,000.

Cons

  • There are no ANZ Rewards or Qantas Points benefits.
  • There are cards with a lower ongoing purchase rate.
NAB Qantas Rewards Premium Credit Card

On website

Balance transfer

12 months at 0% p.a.

Purchase rate

20.99% p.a. ongoing

Annual fee

$150.00 for 1st year

Highlights

  • Receive 70,000 bonus Qantas Points upon spending $2,000 within the initial 60 days.
  • First-year annual fee reduced to $150 p.a. from $250 p.a. (saving $100).
  • Earn 1 Qantas Point per $1.5 spent on everyday purchases up to $3,000 per statement period, and 1 Qantas Point per $3 spent thereafter (capped at $6,000).
  • Enjoy complimentary Qantas Frequent Flyer membership, saving $99.50.

Pros

  • The 70,000 bonus Qantas Points.
  • The discounted annual fee for the first year.
  • Free Qantas Frequent Flyer membership (a saving of $99.50).
  • Comes with a host of complimentary insurances when you make an eligible purchase.
  • Visa Premium Access and NAB Concierge Services 24/7.

Cons

  • Points earning capped at $6,000 spent per statement period.
  • Higher annual fee compared to other Qantas cards.
  • Interest rates are high, which is typical for most rewards-earning cards.
Bank of Melbourne Vertigo Visa Credit Card

On website

Balance transfer

28 months at 0% p.a.

Purchase rate

13.99% p.a. ongoing

Annual fee

$55.00 p.a. ongoing

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.
  • 13.99% p.a. low variable interest rate on purchases.
  • Low annual fee of $55 p.a.

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.
  • 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.
Latitude GO Mastercard

On website

Balance transfer

N/A

Purchase rate

6 months at 0% p.a.

Annual fee

$131.40 p.a. ongoing

Highlights

  • Immediate 6 months interest-free for purchases totaling $250 and above.
  • Interest-free deals available from numerous online and in-store retailers.
  • No initial account setup fee and a maximum of 55 interest-free days.


Pros

  • A monthly account service fee instead of an annual fee.
  • Enjoy Expedia and Wotif hotel discounts.
  • Get 6% off your stay with Booking.com
  • Up to 55 interest-free days.

Cons

  • High 27.49% p.a. interest rate on everyday purchases.
  • High late payment fee of $45.

ANZ Frequent Flyer Platinum Credit Card

On website

Balance transfer

N/A

Purchase rate

20.99% p.a. ongoing

Annual fee

$295.00 p.a. ongoing

Highlights

  • Receive a bonus of 75,000 Qantas points and a $100 back upon spending $2,500 on qualifying purchases within the initial 3 months of approval.
  • Get 0.75 Qantas Points for every $1 spent on eligible purchases (capped at $3,000), and thereafter, earn 0.5 Qantas Points per $1 spent in each statement period.
  • Enjoy a complimentary Qantas Frequent Flyer Membership.

Pros

  • 75,000 bonus Qantas Frequent Flyer points plus a $100 cashback.
  • Earn 0.75 points per $1 spent up to $3,000 per statement period.
  • Comes with a number of complimentary insurances, including international travel insurance.
  • Up to 55 days interest-free on purchases.

Cons

  • The annual fee of $295 p.a. is high.
  • Although uncapped, the earn rate drops to 0.5 points per $1 on any spend above $3,000 per statement period.
  • There is no balance transfer offer available.
  • It costs $65 p.a. per additional cardholder, which adds up.
BankSA Amplify Platinum Credit Card (Amplify)

On website

Balance transfer

24 months at 0% p.a.

Purchase rate

19.49% p.a. ongoing

Annual fee

$49.00 for 1st year

Highlights

  • Earn up to 100,000 bonus Amplify Points when you spend $3,000 on eligible purchases within 90 days from card approval. Exclusions apply.
  • 0% for 24 months on balance transfers with a 1% balance transfer fee. Reverts to cash advance rate of 21.49% p.a.
  • $49 p.a. annual fee for the first year ($124 p.a. annual fee thereafter)

Pros

  • The 100,000 bonus Amplify Points.
  • 0% for 24 months on balance transfers.
  • Comes with complimentary insurance (terms, conditions, exclusions, and eligibility criteria apply).
  • Compatible with Apple Pay, Google Pay, and Samsung Pay.

Cons

  • There is a 1% balance transfer fee. Other cards offer 0% balance transfer free.
Latitude Gem Visa Credit Card

On website

Balance transfer

N/A

Purchase rate

6 months at 0% p.a.

Annual fee

$131.40 p.a. ongoing

Highlights

  • Utilize their interest-free payment options at numerous stores.
  • Immediate 6 months interest-free for purchases totaling $250 and above.
  • Rather than an annual fee, Latitude Gem Visa imposes a monthly fee equating to $131.40 annually.

Pros

  • 0% for 6 months on everyday purchases amounting to $250 and over.
  • The 0% on interest-free payment plans.
  • Up to 55 days interest free on everyday purchases.

Cons

  • The standard cash advance rate of 29.99% p.a.
  • 3% foreign exchange fee.
  • The late payment fee is $45.
P&N Bank Platinum Visa Credit Card

On website

Balance transfer

N/A

Purchase rate

11.99% p.a. ongoing

Annual fee

$99.00 p.a. ongoing

Highlights

  • Low-interest rate of 11.99% p.a. on balance transfers and purchases.
  • Up to 45 interest-free days.
  • Includes complimentary insurance cover.

Pros

  • Low ongoing interest rates.
  • Complimentary insurance plans.
  • Access to the 24 / 7 concierge service.

Cons

  • The annual fee is $99 p.a.
  • 45 interest-free days is not as long as what's available on some cards.
  • Doesn't have a rewards program.
  • No interest-free balance transfer offer.
P&N Bank Classic Visa Credit Card

On website

Balance transfer

N/A

Purchase rate

11.99% p.a. ongoing

Annual fee

$49.00 p.a. ongoing

Highlights

  • Annual fee remains low at $49 per annum.
  • Enjoy a competitive interest rate of 11.99% on balance transfers and purchases.
  • Benefit from up to 45 days with no interest charges.

Pros

  • The competitive annual fee.
  • Low-interest rates on purchases.
  • Quick and easy application process.
  • Compatible with Apple Pay, Google Pay, and Samsung Pay.

Cons

  • No rewards program.
  • No introductory interest-free balance transfer offer.
  • Only up to 45 days interest-free (51 is more typical).
Community First Bank Low Rate Visa Credit Card

On website

Balance transfer

6 months at 0% p.a.

Purchase rate

8.99% p.a. ongoing

Annual fee

$40.00 p.a. ongoing

Highlights

  • Benefit from a competitive interest rate of 8.99% p.a. for both purchases and cash advances.
  • For the initial 6 months, enjoy a 0% rate on Balance Transfers with a corresponding 0% balance transfer fee. Afterwards, it reverts to the cash advance rate of 8.99% p.a.
  • An annual fee of $40 is applicable.

Pros

  • Low-interest rates.
  • Up to 55 interest-free days.
  • Limits are available from $500 to $15,000.

Cons

  • No rewards program.
Latitude 28° Global Platinum Mastercard®

On website

Balance transfer

N/A

Purchase rate

27.49% p.a. ongoing

Annual fee

$0.00 p.a. ongoing

Highlights

  • $0 yearly fee.
  • No foreign transaction fees for purchases during travel or online shopping.
  • You and four friends can access airport lounges, drinks, and Wi-Fi if your flight is delayed.

Pros

  • The $0 annual fee.
  • No currency conversion fee or foreign transaction fee.
  • Get 6% off your stay with Booking.com.
  • Enjoy up to 55 days interest-free on purchases.

Cons

  • A high purchase interest rate of 27.49% p.a.
  • Cash advance rate is 29.99% p.a.
  • There is no rewards program on this card.

Qantas Premier Titanium Credit Card

On website

Balance transfer

6 months at 0% p.a.

Purchase rate

19.99% p.a. ongoing

Annual fee

$1,200.00 p.a. ongoing

Highlights

  • Acquire 150,000 bonus Qantas Points upon reaching a $5,000 expenditure within 90 days of card approval.
  • Experience a 20% bonus on Status Credits for Qantas operated and marketed flights.
  • Distinguish yourself with this metal card, setting you apart from conventional plastic cards.

Pros

  • A very substantial sign up bonus with a reasonable spending target.
  • Earn Status Credits when you buy eligible Qantas flights with the card.
  • A high Qantas Points earn rate.
  • Four Qantas airport lounge passes each year.
  • Comes with complimentary domestic and international travel insurance.
  • The physical card is made of metal.

Cons

  • The annual fee is on the high end.
  • No free additional cardholders.
  • Ongoing interest rates are typical of a rewards card.
ING Orange One Low Rate Credit Card

On website

Balance transfer

N/A

Purchase rate

11.99% p.a. ongoing

Annual fee

$0.00 p.a. ongoing

Highlights

  • No annual fee and a low 11.99% p.a. variable rate on purchases.
  • Add cardholder for $10 p.a.
  • Avoid ING international transaction fees by depositing at least $1,000 a month into your ING accounts (excluding Living Super and Orange One) and making 5+ settled card purchases.

Pros

  • No annual fee.
  • Competitively low interest rate of 11.99% p.a. on purchases and cash advances.
  • Variable 9.99% p.a. on instalments.
  • No international transaction fee.

Cons

  • Additional cardholder comes at a cost.
  • Minimum credit limit of $6,000.
Virgin Money No Annual Fee Credit Card

On website

Balance transfer

N/A

Purchase rate

6 months at 0% p.a.

Annual fee

$0.00 p.a. ongoing

Highlights

  • $0 annual fee for the lifetime of the card.
  • 0% p.a. for 6 months on purchases (reverts to 19.99% p.a.).
  • Up to 55 interest free days.

Pros

  • No annual fee ever.
  • 0% p.a. interest rate for up to 6 months on purchases.
  • Up to 4 additional cards, also with $0 annual fee.

Cons

  • The revert interest rate for purchases are relatively high.

When you compare instant approval credit cards and after you apply, banks generally respond 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.

Andrew Boyd, co-founder of Credit Card Comparison

Andrew Boyd, co-founder of Credit Card Compare, explains, "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."

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. We also have a comparison table of easy credit cards to get approval for. 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.

Expert opinion on instant approval credit cards

David Boyd, co-founder of Credit Card Compare

David Boyd, co-founder of Credit Card Compare, explains, "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."

What to consider when choosing the best 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. Some instant approval cards may offer frequent flyer points.
  • 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.

How long does it take to get a credit card?

The time it takes to receive your new credit card in the mail can vary, typically ranging from 4 to 10 business days. However, you can often get confirmation of your credit card approval much faster – sometimes within just 60 seconds of submitting your application.

Keep in mind that while the initial approval notification can be quick, the formal approval process may take anywhere from a couple of days to a few weeks, depending on the issuer and your individual circumstances.

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.