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

We have all wanted to have the best cards in the market from time to time. Getting the first credit card would have been a difficult thing for some, easy for others if they had co-signors. Either way, hearing that they are eligible for an instant approval card will change everything. There are so many offers in the market, but without a doubt seeing an email saying one is pre-approved for a card is exciting and fulfilling. Hearing the words instant approval many people get curious about how it works. Does it mean, the card is easily available, easily approved and can be immediately used? The confusing thing is that instant seems like a windfall and often it is not so. The most important tenet to bear in mind with credit cards is that nothing is free. There is always a catch.

When you want or have gotten emails about instant approval cards, know that they are not about free money. Neither do they mean you get a card which you can use in no time. How an instant approval card offer works is simple. By looking at people's credit scores, the credit companies decide on what works best and who can be eligible for a card offer and sends them what is called a pre-approved offer. This means one could be eligible. Instant approval the process of getting approved for your card after an application is quicker. You can expect to get your card soon but using it on the same day is not a prospect that works. It means you do not have the long and rigorous procedures that are required for a credit card application with a lot of verification and documentation. You can know soon as you apply if you are approved or not.

The catch with instant approvals is pretty evident however. One major situation to deal with is the higher rates of interest that apply on the card. Instant approval cards would mean you have to also have really good credit scores as they are processing your application immediately to allow you to make purchases. For the standard credit card, the process takes weeks and sometimes months. The arrival of the credit card in your mail can also run into quite a long time. However instant approval cards allow you to get your card within seven business days and are a huge relief during emergency situations.

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.