Do you think that credit cards instant approval offers are too good to be true? You might have been used to the traditional process of acquiring a credit card that instant approval would sound suspicious. But is this true?
Gone are the days when you have to dress up and drive to your local bank, fill-out a form, and personally submit your credit card application. Today, most credit card applications are done online. And compared to the old way, it offers people a much quicker, more convenient way of getting a credit card.
What are instant approval credit cards?
So what does instant approval really mean? Instant approval pertains to the quick processing of the application. You simply need to get online, fill out the online application form, click submit, and wait for a few minutes to know whether your application has been approved or declined. If you meet the credit card issuer’s requirements and you get an approval, you can expect to receive your card via post mail in 5 to 7 banking days.
What happens next? After receiving your credit card from the mail, you will be asked to call your issuer’s activation number. This is done to verify the identity of the credit cardholder. You will be asked verification questions in order to have your account activate. Once it’s done, your instant approval credit card is ready for use.
What are guaranteed approval bad credit credit cards?
What about guaranteed approval bad credit credit cards? These are different from instant approval cards. In this case, guaranteed approval is offered regardless of the applicant’s credit rating. Whether you have bad credit or no credit history, you can surely get an approval.
You can even choose between a secured credit card and an unsecured credit card for bad credit. Both of them offers guaranteed approval. The difference between these two types of credit cards for bad credit is that the other requires a security cash deposit while the latter does not.
Read the Fine Print
Now you know that instant approval credit card offers are for real. However, you should still be careful when submitting application online. First, make sure that you are using a secured web page before filling out the online form. The URL of a secured page must begin with https:// instead of the usual http:// for unsecured sites. You can also check if there is locked icon on the bottom right corner of your browser.
It’s also advisable that you check the reputation of the credit card issuer. Make sure that you are dealing with a legitimate bank or credit card company. Last but not least, read the fine print. Just because the ad says “instant approval” does not mean you should not bother reading the complete Terms and Conditions.
Remember that if you send your application to the wrong issuer and you get declined, it would be damaging your credit score. Understand the credit card issuer’s requirements. Even if the ad clearly says “instant approval”, it still pays to double check.