At the rate that credit card offers are sent to mailboxes, it's probably hard to believe that anyone hasn't at least thought about getting one of these cards. Still, credit card companies now have instant approval card applications that make it even easier for people to get a credit card. Before you apply for a card online or over the phone, there are a few things you should know.
- You need to have good credit.
For quick approval, a person who wants to use the service must have a good credit history. This means that the user pays his bills on time and that his credit report doesn't show any financial problems. A credit bureau can give you your credit report, and the card company will get in touch with it when you apply. If everything works out, the credit card will be approved in just a few minutes.
- Interest rates are based on how good your credit report is.
If you are not happy with your credit history, there is a small chance that your application will not be approved right away. You don't have to worry if this happens, though, because there is a lot of competition in the credit business and these companies may be willing to work with you. Most of the time, they will just charge you higher interest rates because you are a higher risk. Also, because of the extra qualification process, your card may take longer to arrive.
- The card won't get to you for a few days.
People often think that if they are approved for one of these cards, they will get it right away. No matter how fast your Internet connection is, the card will arrive in an envelope, not in bytes. So, it's not a good idea to depend on one of these card applications for a transaction that needs to happen quickly.
- You should do your homework.
Don't let the fact that it's easy to get a credit card approved quickly sway your decision about which card to get. It's not worth it to pay more money each month to get a credit card faster.
- To send your personal information, you need to find a safe way to connect.
You should never give out your personal information on a public computer, just like you shouldn't do any other kind of online business on one. With all the identity thefts that have been happening lately, it's better to be safe than sorry, especially when it comes to credit cards.
