FAQs About Credit Cards with Guaranteed Approval
Many credit cards in the market today offer “instant” or “guaranteed” approval but do these terms really mean? In this article, we answer the most frequently asked questions about credit cards with instant approval. Knowing the answers to these questions can influence your decision whether this the right type of credit card for you.
What is an instant approval credit card?
Technically, “instant approval” refers to the speeding processing of the application. Compared to the conventional method of applying for a credit card which includes going to your bank to fill out a form and having to wait for weeks to know whether your application has been approved or not, the process today is literally quick and convenient.
Upon submitting your instant approval credit card application online, you can find out whether you have been approved or not within a few minutes or within the same day. Once approved, you can expect your instant approval credit card to arrive via post mail within 4 to 5 banking days.
Upon receiving your instant approval credit card, can you use it right away?
First, you must go through the verification process which is done through the telephone. You simply call your credit card company’s activation number and answer a few verification questions in order for your account to be activated. Once it’s done, your credit card is ready to use for payments.
What are guaranteed approval bad credit credit cards?
Some credit card issuers also cater to the bad credit market. Even if you have bad credit, a low credit score, or no credit history, you can still get approved for a guaranteed approval bad credit credit card.
You can even choose from secured credit cards and unsecured credit cards for bad credit. In this case, “guaranteed approval” means that your personal credit will not affect your chances of getting an approval. You will get approved no matter what your credit is.
In fact, you can use a guaranteed approval bad credit credit card to rebuild your damaged credit. This why, these credit cards are enjoying a huge popularity among the masses despite the higher rates and fees. If you can improve your credit rating through your regular credit card use and timely payment, then the fees are definitely worth the expense.
Are instant approval applications secure?
Some people may not feel comfortable about applying for a credit card over the internet for fear that their identity can be stolen. If you are using a legitimate website of a credit card company, then it is safe to send your instant approval credit card application online.
It is important to make sure that you are using the official website of your chosen credit card company before you fill out an online application. Make sure that the page is secured by checking the website address. The URL of a secured page must always begin with https://, instead of the usual http://. You should also see a locked icon on the right-side bottom corner of your browser which indicates a secured page.