Controlled-release fertilizers (CRFs) have not been extensively used in floricultural production, perhaps due to lack of grower experience and research-based information with their use in herbaceous plant production. Any information about the correct use of CRF should increase growers’ confidence in using this type of fertilizer. The objective of this research was to compare the growth and quality of bedding impatiens (Impatiens wallerana XTREME™ ‘Scarlet’) when grown with typical water-soluble fertilizer (WSF) and with different combinations of longevity and rates of a single formulation of CRF. The CRF 16N–3.9P–10K consisted of different longevities (3–4, 5–6, 8–9, or 12–14 months) and application rates (1.4, 3.4, 6.8, 10.2, or 13.6 kg·m−3). Plants were grown in the greenhouse, and consumer evaluations were performed at market maturity. Plant canopy cover, flower cover (FC), and shoot dry weight (DW) were also determined. Commercially acceptable plant quality was achieved with CRF application rates between 3.4 and 6.8 kg·m−3. At low CRF application rates, the faster release rate (shorter longevities) CRFs produced larger plants [DW and leaf canopy cover (LCC)] with greater flowering potential (FC) than slower release rate CRFs. At higher application rates, slower release rates (longer longevities) outperformed the faster release CRFs for the same parameters. CRF-grown plants were smaller than WSF plants when CRFs were applied at the lowest rates. No differences in any of the three variables measured were found when plants were grown at a rate of 6.8 kg·m−3 CRF of any longevity or with WSF. Growers should adjust CRF application rates according to CRF longevity.