Instant Approval Credit Cards Advice

What is an Instant Approval Credit Card?

"Instant approval" credit cards refer to a system in which credit card applications are, as the name suggests, instantly approved or rejected by credit card companies based on the information when you apply for a credit card on their website and on the data received from your online credit report. With instant approval credit card offers, customers typically receive notice of acceptance or approval within minutes of filling out the online application form. Once approved, all you need to do is wait for your new credit card in the mail.

When browsing through instant approval credit card options online, remember that this type of credit cards are generally issued to people with good or excellent credit history because most decisions are made based on the FICO score. However, even if you have a bad credit history, you have a chance of being accepted for an instant approval credit card and improving your credit score with it due to increasing competition between credit card companies looking for more customers.

Instant Approval, Instant Decision, and Instant credit:

“Instant decision” refers to a method used by banks in which a detailed background check is conducted within an extended period of time provided to the credit card company to decide if an applicant is approved, which can last for a couple of days to several weeks. “Instant credit”, on the other hand, refers to a system in which a temporary credit card is issued to you after you have been approved for an instant approval credit card. This temporary credit card allows you to make purchases of goods and services online. However, instant credit has become less common due to fraudulent charges made by some credit card companies.

Temporary Approval:

When receiving an instant approval for a credit card online from a particular credit card company, it can also mean that you’ve been given an approval that is temporary, depending on your online credit information. This temporary approval is intended to keep you engaged while the company conducts additional research to verify the accuracy of your online data. So, instant approval does not necessarily mean that you will immediately receive a full-fledged credit card.

Things to remember when applying for an Instant Approval Credit Card:

1. First of all, conduct an extensive research on the types of Instant approval credit cards available online
2. Make sure you search and review banks/credit card companies that provide the highest level of internet data encryption when applying for Instant approval credit cards online. Find companies that offer secure online instant approval services.
3. Some credit card companies will not accept your application for an instant approval credit card if you have a bad credit history. Otherwise, instant approval credit card for bad credit will include a number of low credit limits, high interest rates, and other fees, not typical to traditional credit cards.
4. Consider instant approval credit cards that offer a signing bonus with a low /no introductory interest rate, including low regular interest rate, rewards program, low/no annual fees and a fitting credit limit.