Instant Approval Cards - Mastercard, Visa, Citi, etc
(Caption: instant decision credit cards and even instant approval credit cards for bad credit are not difficult to find if you know where to look.)
We have all seen the adverts for instant approval cards - apply online know in 60 seconds if you are approved. What is the truth behind those instant approval cards? Do they suit everyone? What are the real rates and are they really a good deal? These are tips for deciding if an instant approval card is for you.
Instant approval cards as they are known are becoming more popular as more people do their research and shopping on the internet. Almost every credit card company will offer an online application process and if you do not qualify, you will know very quickly. If your credit history meets their guidelines then you will receive a confirmation in your email.
You should choose your credit card based on your needs, such as APR or balance transfers or whatever rewards you is seeking. You will need to wait for the actual card to arrive in the mail before you can use these instant approval credit cards.
You should also read the terms and conditions very carefully before applying for any credit card online or by snail mail. Excessive credit card applications can hurt your credit score overall. Know you want the offer before completing any form.
Before accepting the card read the disclosures carefully and understand how penalties are triggered, if there is an introductory APR rate, know what it applies to and how long and be sure the terms you are actually being offered are what you believed.
Even if your credit score is poor, you can apply for some instant approval credit cards to help rebuild your credit. These cards will usually have less desirable APR s to help offset the risk of poor credit. However, you can know within minutes with many credit cards by applying online if you are approved even with bad credit.
Before the actual instant approval credit card is issued the company may do a very thorough credit check to verify it is you applying and you history qualifies you for the credit card you applied for online. However, in most cases approved means approved.
Full disclosure is required by any credit card or Loan Company but the less attractive terms may be in the very small print. Read it thoroughly as triggering penalties or fees you missed can cost you dearly.
Tip: Almost every major credit card company will offer an online application process which will tell you if you are approved. You are not limited to just one company or credit card offer and should shop around and at a minimum, compare the top 5 current instant approval credit cards with the best possible rates and terms.