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I've applied for a couple of instant approval credit cards in my day, and let me tell ya--they're not always instant! If anything, "instant" could mean you'll receive a decision in 60 seconds, in 3-5 days, or within about 14 days. It all depends on your credit history. If you have bad or poor credit, the decision will probably take longer and you'll likely start out at a higher interest rate. Even if you have to wait 10-14 days for a decision on your credit card applications, it's better than having to wait 4-6 weeks. Just make sure you're getting the best deal--if the interest seems high, cross reference other credit card offers to find out if that's the going rate for cardholders with your type of credit history. The better your credit, the better your chances of getting instantly approved, having access to credit sooner, and taking advantage of lower interest rates, rewards programs, and more. For working class people like myself who have middle-of-the-road credit--not good, but not poor--we especially need to scrutinize credit card offers, particularly those ever-tempting instant approval credit cards. Why? Because these offers usually allot the same interest rate to people with "so-so" credit as they would to people with bad credit. If you have borderline credit, you're better off filling out one of the standard credit card applications and waiting out the usual few weeks the process takes. Chances are, you'll find much lower interest offers if you don't apply for instant approval. With competition on the credit market being so high today, some creditors are willing to go pretty far to bring in more customers. This means that folks with less than "good standing" credit may actually be good candidates for instant approval credit cards. However, you may not want to chance it unless you're certain you can get approved. After all, you don't want to apply for multiple credit card offers just to see which ones you'll get approved for. It's probably best that you just take the standard path and apply for a credit line that you're likely to get (even though it may take longer) and at a lower interest rate. Submitting multiple credit card applications sends a red flag to creditors and can actually go against your credit score. Remember: when applying for one of the many instant approval credit cards, if you receive an approval in a matter of seconds, you'll likely not have access to your credit line for at least a few days, if not a week or more. So if you have this vision of instant approval credit cards as having access to money you can spend that day, forget about it. If anything, they speed up the process a little bit--even more so if you have good credit. They're certainly worth looking into for convenience purposes, but they may not be worth it for everyone.
Article Source: http://www.articlegush.com
Written by Kacy Suther. Get an instant approval credit card and other credit card offers for low interest credit cards. Credit card applications available online at credit-card-depot.com .
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