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Instant Decision Credit Cards

By Edited Jan 24, 2016 0 1

You may be surprised to know that the majority of credit card issuers can give you an instant decision of approval or denial almost immediately once you submit your application. The credit card issuer may delay their response and decision if you don't have some of your requirements such as credit or income in order, or if they are on the cusp of what the lender may require for that particular credit card. The lenders that provide these instant decision credit cards will most often require that you have at least a good credit score and a significant income before they'll issue a quick approval, and these are the areas that you must work on if don't want to wait for several days before you receive your decision. An instant decision credit card can provide you with the line of credit you need without much of a delay, and you can pretty much ensure that you receive such an instant decision by having your credit and income in order.

The key factor in getting an instant decision by a credit card lender is making sure your credit is above the lender's minimal requirement for that card. Each credit card that is on the market has a range of credit scores that its issuer deems admissible as grounds for approval. The lender will then take your score and insert it into their formula to see how it compares to their range of scores. If you are below a certain level then you are going to be issued an immediate denial on the spot—this will be an instant decision and you'll typically not have to wait for a response later on. If you are just above the lender's minimal requirement in terms of credit but have other things such as income and other personal information missing or incomplete on your application then the lender will most likely delay their approval response. If you have everything in order on your application but you still are on the cusp in terms of credit then the lender will also delay their response, and may even state explicitly that your case has been handed down to a specialist. If this is really what they're doing with your case then it may take anywhere from a few days up until a full month until you hear back from the credit card issuer. These instant decision credit cards are contingent on the completeness and strength of your application and the better you can do in each of these areas the better off your chances are at receiving a quick decision.

The banks and lenders that provide these instant decision credit cards are typically not very lenient when it comes to compromise, and unless you can provide them with what they want, you are probably going to have to wait for a decision. How do you know if you have received an instant decision or not? This isn't a stupid question at all because it can be confusing after applying online for an instant decision credit card to only be left with a short message that pretty much says how they'll get back to you in x amount of days. If you submitted your application online then you should immediately receive either one of these "we'll get back to you in x amount of days" responses, or you should received a decision of approval right on the spot. If you have a good and complete application then you should have no problem receiving a positive response almost instantly, so improve your application and make sure everything is in order before you apply. The credit cards with instant decision responses are fairly widespread, and as long as you have your application in order then you should have no problem getting approved quickly, so get out there and start applying.

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Comments

Sep 28, 2010 10:23am
mcimicata
Amazing article! I definitely enjoyed reading it, and learned quite a bit...I will refer it to anybody that is curious about the subject matter.
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