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Accessing credit is easy when one goes for instant approval credit cards. If you fail to set aside money for unforeseen expenses, getting an instant approval credit card might be the only way out. In comparison, it is like getting a loan approved instantly, but without any hassles.
An instant approval card is approved instantly at the time of application. These cards are usually offered on the internet through secure websites. It is to be noted that these cards are in no way guaranteed, and will require an exceptional credit score to be approved. This is due to the very fast response which the banks practices for such credit.
You can do all this from the comfort of you home without having to step into an office. An instant approval credit card is the same as other cards; the only difference is the response time. There are different types of instant approval cards, and you need to take time to understand the various kinds, before you come to a conclusion as to which one suits your needs.
Before applying, ensure that you meet the lending criteria. This will include your name, address, and your tax filing number along with the name and address of your employer. If you are self employed, you will have to provide your business identification number. An important step is also to check your credit history beforehand, to get an understanding of where you stand. A bad credit score will mean that it will be harder for you to secure a credit card. If you are rejected, it will mean that your credit score will suffer further. Hence it is important to apply for a credit report from each of the three credit bureaus before you apply for the credit card.
While applying for the credit card, look for various options that you can explore. You can try different types of reward schemes offered by these cards, although not very pertinent. What is more important is that you get a good interest rate and also a longer interest free period. A lot of credit cards will offer such interest free periods to new customers. Review other fringe benefits, like instant cash back, which is normally offered during the beginning of your term. Ensure however, that you do not settle for anything less just because you are getting an instantly approved credit card. Negotiate a deal with the credit agent as this is important.