Credit Card Question & Answer

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Credit Card Applications » Questions » User Questions » Limited/Bad/Fair Credit » What are they and how can a consumer get them?

What are they and how can a consumer get them?

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There are all kinds of credit cards available in the market today. From low interest rates, to high credit limits and even no limits on credit the list of cards that are available seem endless. There would have been many a time when you heard a friend talk of instant approval credit cards or when you found numerous emails offering this deal to you. While they do make sound like a great deal, these cards must be signed up for very carefully. These cards are sanctioned whether an individual has an excellent credit score or not.

The application process for instant approval cards is fairly simple and it can be done online with just a few basic details. When a person applies for this a small amount is granted as credit limit to them which can be used immediately for making purchases online.

In many cases people tend to have overspent on their credit card. With a maxed out credit limit, they often find it difficult to pay off what they owe. In case of an emergency transaction or a need for credit that is sudden, they can make use of an instant approval card by entering the requested information online. While the amount allowed is low most of the time, the interest rates do tend to be rather steep. The advantage of an instant approval credit card is that the process happens quickly and if you are approved for the card then you can make your purchase without any delay or thought. There are numerous offers online that you can compare and you can choose the right options from among them.

There are certain limitations to getting an instant approval credit card. Many a time a good credit history is a mandate. But with credit card companies competing for customers there are agencies who offer instant approval cards to consumers who have a not so good record and even poor records. There is often incentives given in addition to further attract customers and have them apply for instant approval credit cards. Reward points, a free balance transfer from the old card, no annual fees for a year or even a 0% interest offer for six months are all benefits of applying for this card. When you have an immediate requirement and have a good credit score, applying for these cards pose no harm.

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