Customers shopping for a new credit card can avoid waiting long weeks to learn whether or not they have been approved. Instant approval credit cards provide applicants with a fast online response. Online credit card websites offer a variety of instant approval credit cards, allowing customers to choose the card that best fits their financial needs.
How “Instant” are Instant Approval Credit Cards
The “Instant” in instant approval credit cards refers to the minimal waiting period involved. After customers fill out an application online, a reply is sent to their e-mail account within minutes. In some cases, the process may only take seconds.
While the application response time is quick, other steps in the process are not instantaneous. Customers will first want to carefully search for the right credit card. Like most credit cards, instant approval credit cards come in a variety of forms. Some offer a 0% interest rate for the first six to twelve months. Others include cash back bonuses, travel benefits, or rewards programs. Cards with no annual fees are also available. A list of instant approval credit card offers can be found on most credit card websites.
Before applying, it is important to understand the fine print involved. Customers should read through the credit card's term and conditions. Many companies include charges for late fees. Others have interest rates that are subject to change. By reading through the card's detailed information, customers will be aware of any included charges.
The Application Process
When filling out an application, customers will be asked for basic personal information. This may include levels of income, housing status and employment details. Certain credit cards require additional information. When the application is sent in, the applicant's credit report is quickly reviewed. Customers with good to excellent credit have the highest chance of being approved.
Once the application has been approved, the card itself is sent through the mail system. On average, this takes from five to seven business days. When the card arrives, the customer may be asked to call a toll-free number to authorize use of the card. Once this is done, customers are free to use the credit card for purchases.
How Secure are Instant Approval Credit Cards
In some ways, filling out an application online is more secure than sending it in through the mail system. Personal information is sent directly to the appropriate source. Credit card companies and websites take extra measures to ensure security. Most issuers implement the latest data encryption for security purposes.
Before filling out an online application, customers should check the site for safety features. A small padlock and explanation of security terms may be listed. If anything looks questionable, customers are encouraged to investigate further before proceeding with the application process.
When to Apply
With the ease of the Internet, applications can be sent in any time. After careful research, customers can choose the best instant approval credit card for their needs. Once the application is sent in, the response will quickly follow.
Instant Approval Unsecured Credit Card
In addition to telling you immediately about your application status, instant approval credit cards usually offer additional benefits. Before you fill out an application, you'll want to pay careful attention to these benefits and other features of the card. Here are three terms to look for when you apply for an instant approval credit card.
When you fill out an application for a credit card, you may notice that it offers an introductory period of 0% APR. During this time, you will not have to pay any interest charges. Eventually, however, a regular interest rate will set in. Knowing what to expect as the usual APR can help you plan out your purchases and card use.
Many instant approval credit cards include a rewards program. You could earn cash back for using the card, or enroll in a program to earn travel rewards. If you see a card with awards that appeal to you, read through the fine print. It will help you understand the terms and conditions that come with the program.
Sometimes an instant approval credit card will charge you a number of fees. You may have to pay a certain amount to use the card every year. You might also have to pay late fees for missed payments or over-the-credit limit fees. Whatever the case, it is important to read through the fine print. It will make you aware of any extra expenses you'll face when you apply.
After you have selected a card to apply for, you'll have to fill out an application online. Be ready to provide some basic information about yourself and your finances. You might be asked about your income level, social security number, housing situation, and current employment status.
When you send in the application, you will usually find out in a matter of seconds whether or not you have been approved for the card. This is sometimes done through email, and you can check your account soon after applying to find out the status of your application. Credit card companies will check your FICO score, which is a number used by credit bureaus to evaluate your credit rating. If it is high enough, you will be approved right away.
Even if your credit score is relatively low, you still may be able to get your application approved. This is because there are certain cards that are designed for people with lower credit ratings. If you think that your score is low, or have had trouble with credit in the past, look for a card that is set up for your situation.
Instant approval credit cards offer you valuable information about your application status within a few minutes. After you have been approved, the actual card will be sent to you through the mail. When it arrives, you'll be ready to start using it the same way you applied for it - instantly