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Credit Card Applications » Questions » User Questions » Limited/Bad/Fair Credit » How do the instant approval cards work?

How do the instant approval cards work?

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Credit card companies come up with a number of different offers every other day, to make it interesting for existing customers and to attract new customers. Since everyone needs a credit card these days to carry out their everyday business, credit card companies are many in number, and have a tough competition to fulfill the needs of customers.

Instant approval scheme is for new customers who wish to apply for credit cards and need them in the short span of time for use. Instant approval scheme should be understood well before applying for them, because a rejected application can lead to reduced credit scores. Below are the highlights of instant approval credit cards:

  • Instant approval credit cards send only approvals immediately for the application submitted on the internet. The procedures that are associated with the approval are fairly simple and so the result of the application is given almost instantly.
  • Instant approval credit cards are not available for use as soon as they are approved for. The applicant must wait for up to three weeks to receive the card via mail to use them. But compared to any other normal credit cards, the time that instant approval cards takes to reach the applicant is lesser.
  • Credit card companies run a credit check for instant approval credit cards as well. Although there are very less paper work, credit check is a common procedure in many big credit card companies.

There are many credit cards that can be approved instantly, without even needing credit checks. These cards help the individual to manage finances and learn about bill paying, before applying for the credit cards with credit checks involved. Having a good credit history is important in getting an application approved. Some credit cards that are instantly approved without credit checks are listed below:

  • Student credit cards are probably only credit cards that may not need credit checks, and can be instantly approved. But applying for student credit cards should be accompanied by a valid student ID, and admission proof.
  • Departmental store cards are instantly approved and any discounts available can be used on the same day. Departmental store cards can be used to improve the credit scores, if the store reports the activities to the credit check bureau.
  • Secured credit cards can be approved the minute the applicant deposits a security amount in the bank account. The credit limit is based on the amount kept in the bank.
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