The Seasiders twice had to come from behind, but were rewarded for playing a fearless attacking game.
Michael Chopra had hit the woodwork for Cardiff after four minutes, and put them ahead before ten minutes were up.
That lead did not last long, with Charlie Adam scoring with a stunning free-kick after 14 minutes.
Cardiff again took the lead, this time through Joe Ledley, and Blackpool again levelled - with Gary Taylor-Fletcher finding the back of the net.
All this happened in a pulsating opening half, which still had time for more drama when DJ Campbell's slip when trying to shoot resulted in the ball rolling into the path of Brett Ormerod.
Ormerod blasted the ball through the keeper's leg to score the goal which ultimately sent the Lancashire side back into the top flight of English football.