Applying for instant approval credit cards might sometimes be risky, as a denial will cause credit scores to drop low. Because credit cards will have certain minimum requirements, a credit check will be performed as soon as the application is received by the company. If the score does not match their requirement, the application is denied.
There are other kinds of cards that guarantee a definite approval upon application. These cards help build a credit history and can easily obtain by people with bad credit history too. Credit checks are not mandatory, but there are other requirements that are easy to meet.
Departmental store cards are the easiest of all to apply for and get approval. It works exactly like a credit card but it works only in the departmental store that issued the card. The card can be used at any location of the store but is not valid to be used anywhere else. The application process is fairly simple, and it gets instantly approved the minute it is applied for. It can even be used on the purchases made the same day.
Secured credit cards also join the group with a simple application process. Only requirement is that the applicant must be able to keep a specified amount as security in the bank that issues the card, if the application has to be approved. The credit limit on the card is decided by the amount that is kept as the security. This amount is used to cover for missed payments and outstanding balance if the credit card holder is unable to pay the balance. It offers every convenience that a regular credit card offers.
Prepaid cards are also an option for instant approval cards. It has an easy application process, with almost 100% approval rate, because it is prepaid in nature. The card holder pays an amount and loads it onto the card before using it. The card can be used only for the amount that has been loaded onto it. While it may not help a great deal in building a credit history, it will definitely teach money management, which is essential to maintain a good credit. It is safer because it has no added fees, high interest rates and even late payment worries.
With so many options to manage finances efficiently, credit cards are not the only way to do so anymore. Although it is nice to have a credit card at hand, not having one is not a limitation, with other types of cards to pick from.