There are both good and bad credit instant approval cards that you can apply for online. While most of these are aimed at people with high scores, there are still plenty of bad credit instant approval cards on the market. The key is to know exactly what you are applying for in advance.

If you don't feel like waiting for weeks or months when you apply for a credit card, you might want to look into instant approval credit cards. These are quickly approved or denied after you submit an online application. While you will get the results fast, some consumers are misled by the term instant approval.

You should know exactly what happens when you apply before you submit anything. Even with instant approval cards, there is still some waiting involved. After all, you won't get your credit card on the same day you apply. The instant application process is more like a fast lane pre-screening. It can be worth it, but don't expect too much.

Traditional applications may take several weeks to process. You can bypass most of this time if you do apply online and are quickly screened and approved or rejected. Your credit history is checked as soon as you submit your application. You will usually get the first approval message after a few minutes or later that day. But more checks might need to be run to ensure that everything is accurate before you are issued your card. After you are approved, expect around a week of additional processing time. It is during this time that you are further screened. If everything matches your application, you'll be sent your new card in the mail. Once you get it you'll need to call to activate it.

If you have a poor credit score, many companies will instantly deny your application. So people with bad credit will want to avoid most offers for instant approval credit cards. This is because applying for cards can lower your credit score further. Make sure you know what your score is from all three bureaus. You'll also want to read about the issuer and learn what standards that they have. If you do have poor credit, look for a company that specializes in instant approval cards for bad credit.

Instant approval credit cards are convenient and a great way to speed up the application process. Just be sure that you have all of your scores and information ready before you apply. Giving inaccurate or incomplete information will cause delays and will increase your chances of getting denied.