MRI is a safe and reproducible noninvasive method of obtaining high-resolution images of the heart and vascular system. As MRI has developed a more widespread clinical application over the last decade, attention has been increasing on how this technique can be used to aid the diagnosis of cardio- and cerebro-vascular diseases in the acute setting. While much of the initial development of cardiac MRI was based around describing the myocardium in the chronic stable state, much recent research has investigated the use of MRI to assess acute coronary syndromes. Similarly, arterial wall imaging using MRI was initially confined to relatively stable research populations; however, more recent work has suggested a possible future clinical role for vascular MRI techniques in acute settings. This study highlights recent advances in MRI of the cardiovascular system, with a particular emphasis on those techniques that can be of use in the setting of acute vascular syndromes, namely acute coronary syndrome, transient ischemic attack and stroke.