Here are the answers to the most common questions about instant approval cards. Read them and make sure you really need a fast-approval card.
Life moves way too fast these days, and we're trying not to fall behind. Food and drinks, photos, and manicures all happen right away. People want things to happen right away so they can save time. This is why banks are advertising credit cards that can be approved right away. When you apply for such a plastic, you can get an answer in seconds! It's a great deal for people who want to get a credit card right away. Isn't it great that when you send an order to the bank, you get a response right away? But let's take a closer look at plastic cards that can be used right away.
Are you eligible for an instant approval card?
This kind of plastic was first made for people with good or great credit. Today, well-known banks like American Express (which are known for focusing on people with good credit) offer a variety of products that can be approved right away, implying low-interest rates and appealing rewards. At the same time, there are credit cards for people with bad credit that can be approved right away. The first PREMIER bank is one of the best places to get credit if you have a low credit score, and most of its deals come with an instant decision.
So, no matter how you've paid your bills in the past, you can find a fast-approval credit card that fits your credit situation.
What is an instant approval, anyway?
When banks started processing credit card applications on computers, they made it possible to get an answer right away. After you fill out the form on the bank's website and send your application to the bank, they look up your credit profile and evaluate it (with the help of a computer program). If you meet the requirements, the bank will say "yes" to you. The service is called "instant approval" because all of the steps only take a few minutes. Note that instant approval does not mean that the plastic will be sent to you right away. You'll have to wait about a week for the card to be sent to you.
Do you need an answer right away?
Some banks did surveys and found that people like the idea of getting a loan right away. Because of this, more and more banks are getting these kinds of products. But let's think about what's good about instant approval. Is it really so important to be approved right away, i.e. to find out you'll get a card the same hour you put in your application? I think this benefit is great for people with bad credit. If they get approved quickly, they won't have to worry and keep applying for credit cards in the hopes that someone will finally say yes. This kind of behavior brings down the credit score. Some banks can send the card numbers to approved customers before sending the cards, but this is not something that happens very often.
Most likely, the information in this article will give you a new way to look at instant approval cards and help you choose the best one.
