Fast approval credit cards can provide a response within 60 seconds after completing the application. Save time and find out whether you're eligible for a credit card with this guide.
Fast approval credit cards come with all kinds of benefits for you to choose between, but you need to have a stellar credit rating in order to qualify. Your financial habits and history will play a big role in the type of card you are approved for, if at all.
0% p.a. for 14 months on balance transfers
Pay $0 annual fee for the first year
Offer ends 20 September 2017
Eligibility criteria, terms and conditions, fees and charges apply
St.George Credit Card Offer
The St.George Vertigo credit card will give you a response within 60 seconds letting you know if your credit card application was successful or not. The St.George Vertigo credit card offers a low interest rate and balance transfer offer.
- $0 p.a. annual fee for the first year ($55 p.a. thereafter).
- 13.24% p.a. on purchases
- Cash advance rate of 21.49% p.a.
- Up to 55 days interest free
Understand the influence of your credit rating
This all sounds good but there is something you should be aware of. If you apply for a credit card and it is refused this is not too much of a problem, but if you apply for several and they are all rejected this will be reflected on your credit score. So if you are considering applying for a fast approval credit card it would pay to check that you have an excellent credit rating, or at least a good one. Even with a good credit rating, should you get reject the first time it would pay to give serious consideration before applying again within say 6 months.
There are many different reward programs on offer, so give consideration to your lifestyle. Firstly, look at what variety of rewards are on offer, secondly the value of them and the type of reward that you could benefit from. The third thing to consider is what are the reward points being paid on? For example, say you shop mostly for the family on your credit card, you would probably choose a program with one of the large food or clothing chains, whereas if you are on the road a lot for work you would possibly choose one more related to gas, car repairs and accommodation.
You want to be able to clock up your rewards for your card use and you also want to get the benefits for something that you will use.
How can I get a fast approval credit card?
The approval may be fast, but you should take some time exploring your options, understanding your credit rating and making comparisons before submitting an application for a fast approval credit card.
- Consider your credit rating. Your credit rating plays a big role in being approved for these types of cards, and you should know what it is before applying. If your credit rating is not excellent, your application will be rejected, which shows up on your credit history. Multiple rejections on a credit history will count against your credit rating and ability to be approved for other credit products.
- Familiarise yourself with the eligibility requirements. Go through the requirements carefully, and make sure that you are able to meet all of them before proceeding with your application. Some of these cards may even have income requirements that you need to be aware of before applying. If you don’t meet these, your application will be rejected, counting against your credit rating.
- Have the required documents ready. Proof of income, such as your paystubs, will be needed as well as information regarding your other credit accounts. You will also have to supply documents to prove your identity. Make sure to have all documentation readily available to submit in order to show your eligibility for the fast approval credit card.
Credit cards with fast approval to include in your comparison
What else should I consider?
- Is there a rewards program. Credit card rewards programs offer you ways to earn by your spending habits. If you travel frequently or do a large part of your purchasing using a credit card, these programs could be very valuable to you. Just ensure that the one you choose offers rewards that you could make good use of.
- What are the details of the promotional offer? You could find fast approval credit cards that are running current promotions, such as low interest balance transfer offers or no fees for a limited time. Credit card promotions can provide good ways to save money, or even help you to consolidate and reduce your current debt.
- What are the rates and fees? Annual fees and the rate of interest should play a big role in the type of fast approval credit card you choose, but also look at details such as fees for withdrawals from an ATM, overseas purchase fees and changes in interest rates for purchases and withdrawals.
With fast approval credit cards you can know in as little as 60 seconds whether you’ll have the benefit of making your purchases on credit. With a large number to choose from, you’ll have no trouble in finding one that matches your spending needs.Back to top
Frequently asked questions
How are banks able to give approval so quickly?
When you apply for a fast approval credit card, the information you submit is sent automatically to the national credit bureau. With fast calculations they are able to determine if you qualify and in most cases send your response in one minute.
How do I know if I am eligible?
Eligibility requirements to check for include your age, residency, income and credit rating.
Will I improve my chances of getting a fast approval credit card if I apply for multiple cards at the same time?
No, that could hurt your credit rating. You are better off to choose carefully one that you feel confident that you qualify for before applying.