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A customer whom has a poor credit score and a bad credit history find that it very difficult to get new lines of credit. It is an interesting situation because the only way such customers could build a good credit history is by getting a new credit card and then restoring their credit history through consistency in payments and better spending habits.

One of the better options for such customers, who are looking for a credit card for bad credit, is the instant approval credit card. The instant approval credit card is not as most people assume a card that is made available immediately. However, the instant approval credit card is definitely available in quick time. The reason it is called instant approval credit card is because there are no background checks or credit history. In other words the instant approval credit card application is approved almost immediately. It will take a few days to get the actual card.

Those who are seeking desperately for credit will actually hurt their credit score even more by applying for a lot of credit cards and getting rejected repeatedly. This is where the instant approval credit card is far more beneficial than the rest of the cards. In this case, the customer doesn’t have to apply for many cards simultaneously hoping that at least one of them is approved. In this case, the customer knows immediately whether or not the card is approved, thereby eliminating the anxiety that usually takes over such applicants.

However, not all instant approval credit cards are highly beneficial. Some of the instant approval credit cards could end up hurting the credit history further as well. This is largely because some of these instant approval credit cards have a very high interest rate. That is because card customers with bad credit are considered to be very risky for card issuers. Therefore customers have to be careful with such cards, because the outstanding balance with card rates as high as 30 – 40% could grow exponentially in no time making it very hard to repay it off. Also applicants should check if the instant approval credit cards have very high charges levied on them. High late fees, annual fees, over-draft fees etc. could mean that instant approval credit cards become very expensive and the customer isn’t left with much to spend.