The content is accurate at the time of publication and is subject to change.

An instant approval credit card is one that can be attained by just submitting an online application and wait for a result in a couple of days. If you are applying for a credit card for the first time in your life, it might be very appealing to go for such a card. Before you go ahead and fill out the form, make sure you read the following article to get a feel of the potholes that you might have to look out for. A lot of people have several false ideas about instant approval cards, and we shall try to address them now.

The name ‘instant approval’ is very misleading. This is because it gives you the notion that there will be no waiting period at all. However, this is far from the truth. You will definitely not get your credit card on the same day that you submit your application. The terms ‘instant approval’ just means that a potential customer can get an approved card much more quickly than the conventional way of applying.

When you submit the online application, your credit history will be checked. The response will be generated immediately or in one day. The approval will still depend on the company’s terms and conditions, and also its credit rating standards. Some issuers will require stellar scores while others will even offer cards with no credit history.

After getting the approval, the processing will take around a week. During this period, your background will be thoroughly scrutinized to make sure that you are credit worthy. Only then will a reply be sent to your billing address.

When you get the credit card, you must call the company and verify your identity. Only after doing this will your card become active? If the card is not activated within a certain time period, it will automatically stay permanently deactivated, and you will have to apply for a new card.

There are several instant approval cards for bad credit history candidates also. You need to, thoroughly check the credentials of the company before going for such cards. This is because the well known names will rarely offer cards to fair or bad credit candidates. Another step that you need to take before applying for a card is to check your credit history with one of the three credit bureaus or in fact, all three of them. If you have bad credit or fair credit, you need not waste your time with cards that have stringent norms for customers.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.