Research employing the Iowa Gambling Task (IGT) has frequently shown that learning is impaired in various clinical populations. However, precisely what constitutes "unimpaired" control group learning remains unclear. In order to understand some of the possible factors underlying variability in control group IGT performance, the present study sought to manipulate features of the task to intentionally disrupt learning. Specifically, the present study investigated the effects of time constraints on emotion-based learning during automated administration of the IGT. For two groups of participants, a time-constraint of either 2-s or 4-s was implemented during the critical decision making period, while a control group received no time constraint. We also evaluated participants' subjective experience after every block of 20 trials. Results demonstrated that the 2-s group differed significantly from the control group. Subjective experience measures revealed rapid development of awareness of the advantageous and disadvantageous decks among all three groups. Overall, our findings demonstrate, for the first time, the effects of decision-phase time constraints on emotion-based learning and indicate that the IGT reward/punishment schedules are to some extent cognitively penetrable.