Instant Approval Credit Cards ... What are they?
Published on May 26, 2007 2:33 PM ESTWhat are instant approval credit cards? People often decide to get a new credit card last minute, whether it's to transfer a high interest balance or to find an instant approval credit card just before a vacation. So how does one apply for such a card?
Many credit card issuers have realized that upgrading their systems to allow people to find out instantly whether they qualify for a card has many benefits. First of all, people want to know instantly. Secondly, if the system can handle approvals instead of a phone operator, a credit card company can save money in operating costs.
Borrowers who find out that they don't qualify for a particular card, can apply for another card with leaner credit requirements. In the old days, one had to send in an application and then wait to hear back.
If you have a favorite bank, the first step is to visit their web site and find out if you can apply online for a credit card and get instant approval.
If your bank does not offer instant approval, try national issuers such as American Express, Chase and Citibank. For poor and bad credit credit cards, consider Orchard Bank which, once approved, can get you your new card in three days for an additional fee.
Once you receive your online response, it will take some time to receive the actual card. At press time, American Express sent out the card in 10 days. It's best to read the terms and conditions on the issuer's web site to learn the details.
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*Although we try to maintain the offers up to date, credit card offer details change frequently. Please read the terms of your credit card application carefully when applying. We are not responsible for the card choices made by a user and for any errors.