At the rate how mailboxes are bombarded with credit card offers, it’s probably
amazing for anyone not to have considered these cards at least once.
Nonetheless, credit card companies now make it even easier for consumers to
apply for a credit card through instant approval card applications. There are a
few things you should know before actually making a card application online or
through the phone.
1. You need a good credit history
In order for quick approval, it is essential for a potential user to possess a good credit history. This means that the user pays his bills on time and does not have any financial hiccups in his credit report. The credit report is obtainable from a credit bureau, which will be contacted by the card company at the time of the application. If all goes well, the credit card will be approved within minutes.
2. Interest rates corresponds with the health of your credit report
1. You need a good credit history
In order for quick approval, it is essential for a potential user to possess a good credit history. This means that the user pays his bills on time and does not have any financial hiccups in his credit report. The credit report is obtainable from a credit bureau, which will be contacted by the card company at the time of the application. If all goes well, the credit card will be approved within minutes.
2. Interest rates corresponds with the health of your credit report
If your credit history is not something you are proud of, there is a slight
possibility that your application will not be instantly approved. You don’t have
to worry if this occurs though, as these companies may make allowances for you
due to high competition in the credit business. Most of the time, they will just
charge you higher interest rates as you are of a greater risk. Also, due to the
extra qualification process, the arrival of your card may be delayed.
3. You need to wait a few days for the card to arrive
3. You need to wait a few days for the card to arrive
A common misconception with these cards is that the applicant will
instantaneously receive the card upon approval. No matter how fast your Internet
connection is, the card is delivered in an envelope, not in bytes. Thus, it is
not a very good idea to have an urgent transaction depend on these card
applications.
4. You need to do your research
4. You need to do your research
Do not let the convenience of getting a quickly approved credit card cloud your
judgement on your selection of a credit card. It is not worth making higher
payments in exchange for a shorter wait for a credit card.
5. You need to find a secure connection to submit your personal information.
5. You need to find a secure connection to submit your personal information.
As with all forms of online transactions, you should never use a public computer
to submit your personal information. With the recent spat of identity thefts, it
is wiser to be safe than sorry, especially when it comes to credit cards.