With advancements in banking technology and credit profiling algorithms, it is now possible to get a credit card that you can use on the same day.
This guide explains how it works, shows you your options, and explains some of the most common questions people have about immediate access credit cards.
In this guide
What is an immediate access credit card?
Credit cards with immediate access are available to use immediately after approval. They are issued as a virtual card that can be added to a mobile wallet such as those on Apple and Android devices. If your application gets approved, you can begin using it on the same day.
How to use an immediate access credit card
After applying and being approved, your new card will be made available to use. You'll need to set it up on a phone or tablet you own that has a digital wallet, e.g. Apple Pay or Google Pay.
- Log in to your mobile or online banking.
- Locate the page about your new card.
- Tap on the "Add to Apple Wallet" for iOS devices or "Save to phone" if using Android.
- Follow the on-screen instructions.
- Once configured, you can use your card in-store or online where contactless payments, Apple Pay, or Google Pay are accepted.
Note that some digital wallets may not be supported by the issuer.
Immediate access vs. instant approval
There is a difference between immediate access and instant approval. The main difference is how long it takes to get approved and be able use the card. This comparison table lays out what you can expect.
|Immediate access cards||Instant approval cards|
|Requires a credit check||Yes||Yes|
|Approval||Final decision within minutes||Conditional approval within 60 seconds|
|Available to use||Virtual card available immediately after approval||Physical card available ~1 week after approval|
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Credit cards with immediate access in Australia
Do credit cards with immediate access require a credit check?
Yes. The bank will run a hard check of your credit report while assessing your application.
Are credit cards with immediate access virtual?
Yes. The credit card that you can use immediately after approval will be a virtual card. The physical credit card — if there is one — will arrive in the post around one week after you've been approved.
Can credit cards with immediate access be used on the same day?
If your application gets approved on the same day, you can start to use your card immediately after.