We live in a fast-paced society where everyone wants things as fast as possible. Credit card companies have stepped up to the plate and now offer near instant approval credit cards. Many times, when you see an advertisement for a credit card, you will also see a link or button saying ‘Apply Now’. So what are the benefits in doing this?
Receive Your New Card Faster
With an instant approval credit card, your new card will be on its way a lot sooner than you might think. This can be beneficial if you are applying for the card for a specific reason, such as taking a long holiday.
Start Saving With the Balance Transfer Rate
When transferring a balance, you do not begin to save money until the transfer process has been completed. With an instant approval credit card, you will begin saving money sooner.
Use Promotional Offers
Many credit cards carry promotional offers, such as a low interest rate, or balance transfer rate. By applying for and receiving instant approval, it is unlikely that your application will be received after the due date for that offer.
Fill Out Only One Application
Sometimes, people are tempted to fill out many credit card applications at a time, hoping that at least one of them will be accepted. This can hurt your credit rating; because each time you apply there is an enquiry into your credit history. Having a lot of enquiries on your record is not desirable.
When you fill out an instant approval credit card application, you will know quickly (usually within one minute) if you are eligible for the card or not. This way you can apply only for the ones you really want, and not clutter up your credit report with hundreds of applications.
Don’t Forget to Do Your Research
Even if you are applying for instant approval, you still need to research the cards you are interested in. Especially with an instant approval card, you do not want to click the ‘done’ button and instantly regret it. ‘Instant approval’ does not mean ‘hurry to reply’. It is just a way for you to get the application process completed faster.
Instant approvals can be over the phone or on the Internet.
If you want to apply online, apply on your personal computer that has anti-spyware software installed. Don’t use a public computer, because you cannot be sure how safe it is.
On this site, you will find many credit cards that offer instant approval and rest assured that your information is secure when you click through to apply at an institution’s secure website.
Published: 31 August 2011
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