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Discover the Best Instant Approval Credit Cards of 2021

Instant Approval Credit Cards: What You Need To Know

Have you ever applied for a credit card only to be left waiting for days, weeks, or even months for a response? It can be frustrating, especially if you need funding for an important purchase.

Thats where instant approval credit cards come in they provide immediate decisions on whether youre approved for a line of credit, so you can get on with your financial planning. In this article, well explore what instant approval credit cards are, how they work, and the best instant approval credit cards available on the market.

What are Instant Approval Credit Cards? Instant approval credit cards are credit cards that provide immediate decisions on whether youre approved for a line of credit or not.

This is in contrast to traditional credit cards, which may require multiple days or weeks for a credit decision to be made. Instant approval credit cards typically follow a simplified application process that leverages data from your credit report to provide a verdict on your creditworthiness.

How do Instant Approval Credit Cards Work? The application process for instant approval credit cards differs from traditional credit cards.

Most instant approval credit cards require a credit inquiry, which means the issuer will pull your credit report to assess your creditworthiness. The issuer will then use an algorithm to determine whether you qualify for the card based on specific criteria, such as your credit score, income, employment history, and debt-to-income ratio.

If you meet the issuers criteria, youll receive an immediate decision on whether youre approved or not.

Best Instant Approval Credit Cards

1.

Chase Sapphire Preferred Card

The

Chase Sapphire Preferred Card offers rewards for everyday purchases, making it a great option for those who want to maximize their earning potential.

Youll earn 2X points on travel and dining, plus 1 point per dollar spent on all other purchases. The card also offers a generous welcome bonus of 100,000 points when you spend $4,000 in the first three months.

2.

Wells Fargo Active Cash Card

The

Wells Fargo Active Cash Card is a great option for those who want to earn cash-back rewards.

Youll earn unlimited 2% cashback on purchases, plus a $200 cash rewards bonus when you spend $1,000 in the first three months. The card also offers an introductory 0% APR on purchases and balance transfers for the first 15 months.

3.

Ink Business Cash Credit Card

If youre a small business owner, the

Ink Business Cash Credit Card is a great option.

Youll receive 5% cashback on office supply store purchases and internet, cable, and phone services, plus 2% cashback on restaurant and gas station purchases. Youll also get an introductory 0% APR on purchases for the first 12 months.

4.

Capital One Venture Rewards Credit Card

The

Capital One Venture Rewards Credit Card offers great rewards for travel-related purchases.

Youll earn 2 miles per dollar spent on all purchases, and the card offers a welcome bonus of 60,000 miles when you spend $3,000 in the first three months. The card also offers a TSA PreCheck or Global Entry fee credit.

5.

Blue Cash Preferred Card from American Express

The

Blue Cash Preferred Card from American Express offers cashback rewards on everyday purchases.

Youll earn 6% cashback on groceries, 3% cashback on gas and transit purchases, and 1% cashback on all other purchases. The card also offers a welcome bonus of $300 statement credit when you spend $3,000 in the first six months.

6.

Citi Custom Cash Card

The

Citi Custom Cash Card offers a unique approach to rewards by automatically giving you 5% cashback on your top eligible spending category each billing cycle.

Youll also receive 1% cashback on all other purchases. The card offers a welcome bonus of $200 in cashback after you spend $750 in purchases within the first three months.

7. Bank of America Travel Rewards credit card

The Bank of America Travel Rewards credit card is a great option for frequent travelers.

Youll earn 1.5 points per dollar spent on all purchases, and the card offers an introductory 0% APR on purchases for the first 12 billing cycles. The card also offers no foreign transaction fees and a welcome bonus of 25,000 points when you spend $1,000 in the first 90 days.

Final Thoughts

Instant approval credit cards can be a great option if you need immediate access to credit. However, its always important to read the terms and conditions of any credit card offer before applying.

Make sure you understand the rewards program, fees, and interest rates associated with the card. By doing your research, you can find the best instant approval credit card for your financial needs.

Comparison of

Best Instant Approval Credit Cards: Which Card is Right for You? If youre looking for the convenience of a credit card with an immediate approval process, you have several options available.

However, choosing the right card can be overwhelming, as each card comes with its own set of benefits and drawbacks. In this article, well compare the best instant approval credit cards on the market and help you find the right card for your financial needs.

Chase Sapphire Preferred Card

Pros:

The

Chase Sapphire Preferred Card offers a wide range of benefits, including 2X points per dollar spent on travel and dining, and 1 point per dollar spent on all other purchases. Cardholders can also earn 100,000 bonus points when they spend $4,000 in the first three months of opening an account, which is worth up to $1,250 in travel rewards.

Furthermore, the card offers trip cancellation/interruption insurance, baggage delay insurance, and other travel-related benefits. Cons:

One downside of the

Chase Sapphire Preferred Card is its $95 annual fee, which is relatively high compared to other travel rewards cards.

Additionally, the cards rewards program may not be the best fit for people who don’t travel frequently.

Wells Fargo Active Cash Card

Pros:

The

Wells Fargo Active Cash Card is a cashback credit card that offers a competitive 2% cashback reward on all purchases, with no cap on earnings. New cardholders can also earn a $200 cash rewards bonus when they spend $1,000 in the first three months of opening an account.

Furthermore, the card comes with an introductory 0% APR on purchases and balance transfers for the first 15 months. Cons:

One potential downside of the

Wells Fargo Active Cash Card is its foreign transaction fee of 3% on purchases made outside of the United States.

That makes it a less attractive option for those who frequently travel internationally. Additionally, the cards cashback rewards may not be the best fit for people who prefer travel-related benefits.

Ink Business Cash Credit Card

Pros:

The

Ink Business Cash Credit Card, aimed at small business owners, offers 5% cashback on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, and phone services each account anniversary year. Furthermore, the card offers 2% cashback at gas stations and restaurants on the first $25,000 spent in combined purchases each account anniversary year.

Additionally, the card comes with an introductory 0% APR on purchases for the first 12 months. Cons:

Similar to other cashback rewards credit cards, the

Ink Business Cash Credit Card offers a lower rewards rate on most purchases, with just 1% cashback earned on all other purchases.

Moreover, some of the cashback rewards are capped, meaning the higher rewards rates only apply on a limited amount of purchases.

Capital One Venture Rewards Credit Card

Pros:

The

Capital One Venture Rewards Credit Card is a travel rewards card that offers 2 miles per dollar spent on all purchases. Cardholders can earn a substantial 60,000-mile welcome bonus when they spend $3,000 in the first three months of opening an account, which is worth $600 in travel rewards.

Furthermore, the card comes with a valuable TSA PreCheck or Global Entry fee credit, which can save you hundreds of dollars. Cons:

One potential downside of the

Capital One Venture Rewards Credit Card is its $95 annual fee, which is higher than some other travel rewards credit cards on the market.

Additionally, the cards rewards program may not be as lucrative in terms of earning rates and redemption options as other travel credit cards.

Blue Cash Preferred Card from American Express

Pros:

The

Blue Cash Preferred Card from American Express rewards users with 6% cashback on up to $6,000 spent on groceries each year, 3% on gas and transit purchases, and 1% on all other purchases. New cardholders can also earn a welcome bonus of $300 statement credit when they spend $3,000 in the first six months of account opening.

Cons:

The

Blue Cash Preferred Card from American Express comes with an annual fee of $0 intro for the first year, then $95. Additionally, the 6% cash back on groceries applies to specific supermarkets only, and only up to $6,000 per year after that, the cashback rate drops to 1%.

Citi Custom Cash Card

Pros:

The

Citi Custom Cash Card offers 5% cashback on your top eligible spending category every billing cycle, along with 1% cashback on all other purchases. The card also offers cardholders a welcome bonus of $200 in cashback after they spend $750 in purchases within the first three months of account opening.

Cons:

One potential downside of the

Citi Custom Cash Card is that the cards 5% cashback bonus applies only to one spending category at a time, which could make it challenging to earn substantial rewards if you dont spend a lot in a particular category. Additionally, the card does have a foreign transaction fee, which might not be ideal for people who frequently travel abroad.

Bank of America Travel Rewards Credit Card

Pros:

The Bank of America Travel Rewards credit card is a great option for frequent travelers. Youll earn 1.5 points per dollar spent on all purchases, with no limit on earnings.

The card also offers no foreign transaction fees and comes with an introductory 0% APR on purchases for the first 12 billing cycles. New cardholders can also earn a welcome bonus of 25,000 points when they spend $1,000 in the first 90 days of account opening.

Cons:

One potential downside of the Bank of America Travel Rewards credit card is that it may not offer as many travel benefits as other travel rewards credit cards. Furthermore, the cards rewards program may not be the best fit for people who dont travel frequently.

Final Thoughts

When choosing an instant approval credit card, its important to weigh the pros and cons of each option. Look for a card that aligns with your spending habits and financial goals.

By doing your research and comparing the best instant approval credit cards, you can select a card that fits your budget and lifestyle.

Wells Fargo Active Cash Card: Pros and Cons

The

Wells Fargo Active Cash Card is a popular cashback credit card that offers a competitive rewards rate on all purchases. Here are the pros and cons of the

Wells Fargo Active Cash Card that you need to know before applying.

Pros:

1. High Cashback rate: One of the biggest selling points of the

Wells Fargo Active Cash Card is the 2% cashback reward on all purchases.

Unlike other cashback credit cards that may offer different earning rates for different categories, the

Wells Fargo Active Cash Card offers a consistent and high rewards rate on all purchases. 2.

Welcome bonus: New cardholders can earn a $200 cash rewards bonus after they spend $1,000 on purchases in the first three months of account opening. 3.

Introductory APR: The

Wells Fargo Active Cash Card lets new cardholders enjoy zero percent introductory APR on purchases for the first 15 months and zero percent introductory APR on balance transfers for a limited time. 4.

Easy redemption options: You can easily redeem your rewards as a statement credit, a deposit account credit, or a paper check. 5.

No annual fee: The

Wells Fargo Active Cash Card does not charge an annual fee, making it a budget-friendly option for those who want a cashback credit card with no additional costs. Cons:

1.

Foreign Transaction Fees: The

Wells Fargo Active Cash Card charges fees for foreign transactions, which can make it less attractive for frequent international travelers. 2.

Not ideal for large spenders: Although the 2% cashback rate is high, it caps at $2,500 on monthly purchases. This means that the maximum cashback you can earn is $50 per month, which may not be the best option for big spenders looking to maximize their rewards.

3. Limited benefits: The

Wells Fargo Active Cash Card doesn’t offer the same level of travel benefits as other cashback credit cards.

While it does provide trip cancellation and interruption protection, travel accident insurance, and roadside dispatch, it lacks other travel-related benefits.

Ink Business Cash Credit Card: Pros and Cons

The

Ink Business Cash Credit Card is a cashback credit card for small business owners that comes with several benefits. However, like all credit cards, it also has its drawbacks.

Here are the pros and cons of the

Ink Business Cash Credit Card that you need to know. Pros:

1.

High rewards rate: Similar to the

Wells Fargo Active Cash Card, the

Ink Business Cash Credit Card offers a high rewards rate on certain categories 5% cashback on the first $25,000 spent at office supply stores and on internet, cable, and phone service purchases per year and 2% cashback on the first $25,000 spent at gas stations and restaurants each account anniversary year. 2.

Introductory APR: New cardholders can enjoy an introductory 0% APR on purchases for the first 12 months. 3.

No Annual Fee: The

Ink Business Cash Credit Card offers a high earning potential without charging an annual fee. 4.

Employee Cards: Business owners have the ability to add employee cards, which can help to manage and track employee expenses. Cons:

1.

Reward Limitations: The higher rewards rate offered by the

Ink Business Cash Credit Card applies to limited spending categories. All other purchases earn only 1% cashback, making it less attractive for big spenders who dont spend heavily in the qualifying categories.

2. Foreign Transaction Fees: Similar to the

Wells Fargo Active Cash Card, the

Ink Business Cash Credit Card also charges fees for foreign transactions, making it less attractive for frequent international travelers.

3. Cashback Redemption Limitation: The

Ink Business Cash Credit Card only allows cashback to be redeemed in $25 increments, which can limit redeeming flexibility and may be restrictive for some cardholders.

Final Thoughts:

Both the

Wells Fargo Active Cash Card and

Ink Business Cash Credit Card offer high earning potential in their respective categories, but they also come with their limitations. Therefore, it is important to choose a credit card that aligns with your financial goals and spending habits.

By comparing the benefits and drawbacks, you can choose the card that is right for you and start earning rewards on your purchases.

Capital One Venture Rewards Credit Card: Pros and Cons

The

Capital One Venture Rewards Credit Card is a travel rewards credit card that offers a straightforward rewards program and many added benefits. However, there are also some drawbacks to consider.

Here are the pros and cons of the

Capital One Venture Rewards Credit Card that you should keep in mind before you apply. Pros:

1.

High Earning Potential: The

Capital One Venture Rewards Credit Card offers 2 miles per dollar spent on all purchases, making it a great option for people who dont want to worry about different earning categories or changing bonus categories. 2.

Welcome Bonus: The card offers new cardholders a generous signup bonus of 60,000 miles when they spend $3,000 on purchases within the first three months of account opening. These miles can be redeemed at a rate of 1 cent each, which equates to $600 in cashback.

3. Valuable Travel Benefits: Cardholders of the

Capital One Venture Rewards Credit Card can also enjoy a valuable TSA PreCheck or Global Entry fee credit.

Additionally, the card provides access to travel accident insurance, extended warranty protection, and other travel benefits. 4.

No Foreign Transaction Fees: The

Capital One Venture Rewards Credit Card does not charge any fees for foreign transactions, making it a great option for frequent travelers. Cons:

1.

Annual Fee: One of the biggest drawbacks of the

Capital One Venture Rewards Credit Card is the annual fee of $95, which is relatively high compared to other travel rewards credit cards. 2.

Limited Bonuses: Although the 2 miles per dollar spent on all purchases is useful, it may not be the best option for those who prefer rotating bonus categories with higher earning potential for specific purchases. 3.

Redeeming Restrictions: The miles earned with the

Capital One Venture Rewards Credit Card can only be redeemed for travel purchases and statement credits, which may not appeal to users who prefer more flexible redemption options.

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